The Republicans spend so much time looking backwards, it's a pity they can't do it honestly ( Read more... )

For years I've pointed out that the super rich are supra-national. They have no loyalties to nations, just to their own wealth. As they show, they can destroy economies at will as long as it helps their personal wealth to grow.

As the Tax Justice Network shows, the top 50 banks have (US$) 12.5 trillion in offshore accounts, helping the wealthy ( Read more... )

Treasury Secretary Paulson announced the the White House had to admit the decision makers were idiots, imagining theory trumps reality. The first money was just used to buy bad debt from financial institutions, socializing only their errors. It was expected that the money would them be used to loan to businesses and people to keep the economy going ( Read more... )

The bailouts for the financial industry aren't really helping the ordinary citizen. Now, along comes news of yet another bailout -- this time for the auto industry. It's not the first time they've been bailed out and it shouldn't happen without serious restrictions ( Read more... )

It seems that the Treasury Department's done it again. According to the Washington Post, they've given banks a $140 billion dollar tax break. They did it by issuing an order to ignore a Congressional law that eliminated a tax shelter for bank mergers. That's right, they issued an executive order to violate national law in order to make banks more ( Read more... )

In a number of news reports, such as in the NYT, it's been pointed out that the market jumped when it was reported that unemployment is at the highest level in more than a decade. Why? Because that means more dividends for stockholders. Employees get in the way of that ( Read more... )

There's an old saying about those who ignore history being doomed to repeat it ( Read more... )

That seems to be a constant thread in print and broadcast media over the last couple of weeks. Capitalism isn't dead and isn't very ill. What's really happened is the incestuous political/media/corporate family has finally realized what's happened to economics. It seems that capitalism and socialism had a little affair a while back and people are ( Read more... )

Well, the Peace Prize, by definition, is; but they claim the others aren't. This year was clear, yet again, in how much the committees lie ( Read more... )

Mother Jones Magazine recently reported that McCain has 177 lobbyists on his campaign. More interesting is that they've been able to find records linking 83 to the financial industry who McCain and Palin slam for causing the current crisis. The article even lists the names of the 83 and for whom they lobby ( Read more... )