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Hedge Fund Titans: How the NWO-Globalization Crowd Eat the Poor!

May 13, 2008

Mr. C read the following article from Alternet. It reminded him of who the real movers and shakers are in this F*#$%ed up world really are. Like any crime, all that you have to do is figure out who really benefits to find the culprit.

If you are still on the fence thinking that the Bushtards have your best interests in mind then move along. If on the other hand, you know that the current US government and most others in the world really dance to the tune of another piper other than their citizens then keep following the rabbit hole.

Hedge Fund Titans Are Treating Us Like Pawns in Their Economic Chess Games

By Scott Thill, AlterNet
Posted on May 13, 2008, Printed on May 13, 2008
http://www.alternet.org/story/84682/

Recently, two important and related events occurred. The first is that hedge fund kingpin Cerberus Capital Management was considering buying Blackwater, the notoriously Orwellian security contractor that has become the scourge of Iraq and America alike. And the second event? As soon as the news was reported, the deal was killed.

Neither company, you see, likes the publicity. Plus, with Blackwater in its portfolio, Cerberus would have more than lived up to the origin of its name, which comes from Greek mythology. Yes, Cerberus is the three-headed demon dog that guards the gates of Hell.

“We do our best to avoid the spotlight,” secretive Cerberus founder Stephen Feinberg reportedly told his staff in a memo earlier this year, “but unfortunately, when you do some large deals, such as Chrysler and GMAC, it is hard to avoid.”

True, Stephen, true. When you bail out two of the worst environmental and economic offenders in the automotive business (and subprime debacle, in the case of GMAC), and then follow that up by looking into acquiring what passes for a private army with itchy trigger-fingers and a suspicious habit of corruption and cost overruns, well yeah, people will talk.

The irony is more than sweet; it is transparent, at least for private equity groups, hedge funds, and those that follow and capitalize upon them. As for you, if you find such talk about what on the surface looks like a financial organization to be alarmist, then it might be time you read up on hedge funds. As I wrote last year, private equity groups and hedge funds play both sides of the global economy, its destruction and reconstruction, its war and its peace, its bears and bulls. And they do so by manipulating markets, multinationals and the media with practically zero governmental regulation or oversight, to the tune of paydays that redefine opulence and waste. Read more…

EPA Gate: Not Tonight Honey, My Back Hurts!

May 7, 2008
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What do you do when you help a large corporation, like Dow Chemical, get out of having to clean up your mess? Well if you are a “public” aka. (corporate) servant like Environmental Protection Agency Administrator Stephen Johnson, you just refuse to testify to congress on why you help corporations dodge to bullet of responsibility.

What do you give as your excuse? You just say that your back hurts and hand the judge your doctors excuse. Just make sure that the note is not from Dr. Strangelove. :-0 Read more…

EPA Gate: Bush to the Rescue, of the Criminal Corporations!

May 2, 2008

What do you do if you if you were caught dumping toxic chemicals into the environment? Worse yet, what do you do when after delaying cleaning up your mess, the EPA finally insists that you begin cleaning up?

Well, if your Dow Chemical, or any other conservative corporation, you call your local Bush mafia representative. After all, the Bush administration is the best corporate protection racket money can buy.

Update: 05-07-2008

The Washington Post’s Al Kamen points out that the EPA said Gade was leaving for “personal reasons” about 1.5 hours after the Chicago Tribune (second story below) broke the story.

Don’t Do Any Environment Stuff

Loop Fans know to be highly skeptical of those political announcements that a top administration official is resigning “to spend more time with the family,” or maybe to “return to his first love,” coin collecting or weight lifting. These phrases are almost always euphemisms for getting the boot or being squeezed out.

But there was even greater skepticism Thursday at the Environmental Protection Agency when deputy administrator Marcus Peacock circulated this e-mail to senior officials at 5:06 p.m. about the resignation of EPA’s administrator in the Chicago region.

Subject: Region 5 Personnel Announcement

As of this afternoon, Thursday, May 1, 2008, Mary Gade has resigned her position as Regional Administrator for EPA Region 5. I want to thank Mary for her many years of service to the people and the mission of EPA.

She has worked hard to help protect human health and our environment.

Mary plans to return to private life and spend time with her family.

Bharat Mathur, the Deputy Regional Administrator, will assume the responsibilities of Acting Regional Administrator. I thank Bharat for his continued service and leadership.

Problem was, the e-mail came 1 1/2 hours after the Chicago Tribune posted a story online quoting Gade, who said she had been forced out of her job because of her aggressive stand on dioxin flowing from Dow Chemical‘s Midland, Mich., plant into Saginaw Bay and Lake Huron.

Gade said two political appointees at headquarters told her to quit or be fired by June 1. The EPA confirmed she was leaving but declined to discuss a personnel matter.

Gade, appointed by President Bush 18 months ago, told the Tribune: “There is no question this is about Dow. I stand behind what I did and what my staff did. I’m proud of what we did.”

Gade had been trying to force Dow to clean up several inland hot spots contaminated by the cancer-causing chemical. She told the Tribune that top aides to EPA Administrator Stephen Johnson repeatedly questioned her actions against the chemical giant.

Next thing you know, she “plans to return to private life and spend time with her family.”

EPA official ousted while fighting Dow

By Michael Hawthorne

Tribune reporter

May 2, 2008

SAGINAW, Mich.

The battle over dioxin contamination in this economically stressed region had been raging for years when a top Bush administration official turned up the pressure on Dow Chemical to clean it up.

On Thursday, following months of internal bickering over Mary Gade’s interactions with Dow, the administration forced her to quit as head of the U.S. Environmental Protection Agency’s Midwest office, based in Chicago.

Gade told the Tribune she resigned after two aides to national EPA administrator Stephen Johnson took away her powers as regional administrator and told her to quit or be fired by June 1.

The call came as the Tribune was preparing to publish a story about the dioxin issue and Gade’s crusade.

Jonathan Shradar, an EPA spokesman in Washington, said Gade has been placed on administrative leave until June 1. He declined further comment, saying the agency does not publicly discuss personnel matters.

Gade has been locked in a heated dispute with Dow about long-delayed plans to clean up dioxin-saturated soil and sediment that extends 50 miles beyond its Midland, Mich., plant into Saginaw Bay and Lake Huron. The company dumped the highly toxic and persistent chemical into local rivers for most of the last century. Read more…

Onward Conservatard Soldiers, When One Fiasco Isn’t Enough.

April 30, 2008

Bush and Cheney have had a hard on to invade Iran ever since they have throughly and permanently screwed up Afghanistan and Iraq.

When Screwing Up Iraq is not enough!

If an unthinking person were to believe the main stream media, one may be inclined to believe that Iran is in fact planning on invading the AmeriKKKun Homeland next week.

Luckily, for the conservatards, the American public is stupid enough to believe CBS,NBC,Fox News, ABC and the rest of the main stream media. Mr. C’s prediction? The Bustard regime will get away with invading yet another oil rich nation, and the American tax payer will be left holding the bag.

Viva la New World Order Baby!

Paul Craig Robers from “Counterpunch” says it better than Mr C. can.

Repeating The Crime

The Iraq War Morphs Into the Iran War

By PAUL CRAIG ROBERTS

It is 1939 all over again. The world waits helplessly for the next act of naked aggression by rogue states. Only this time the rogue states are not the Third Reich and Fascist Italy. They are the United States and Israel.

The targeted victims are not Poland and France, but Iran, Syria, the remains of the Palestinian West Bank and southern Lebanon.

The American mass media is overjoyed. War coverage attracts viewers and sells advertising.

The neoconservatives are ecstatic. Hegemony uber alles is back on track.

The US Air Force can’t wait “to show what it can do.”

Defense contractors see no end of the profits.

Under cover of the mayhem and propaganda, Israel can grab the remains of the West Bank and have another go at grabbing the water resources of southern Lebanon. Read more…

Why bail out Wall Street , When we can’t bail out Main Street?

March 24, 2008

Posted on the Guardian Unlimited, economist Dean Bakers analysis of the Federal Reserves bailout of wall street at the U.S. Taxpayers expense is frightening.taxpayer-bailout.jpg

Fed up with Wall Street

Dean Baker

March 18, 2008 8:00 PM

http://commentisfree.guardian.co.uk/dean_baker/2008/03/fed_up_with_wall_street.html

The collapse of the housing bubble in the US continues to wreak havoc on the financial geniuses who fostered its growth. All over Wall Street, the mantra “Who could have known?” is being heard with every more frequency and greater expressions of pain.

Things got really serious last week, when Bear Stearns was placed on life support, and was then disposed of in a fire sale last weekend. One of the longstanding giants of Wall Street investment banking now has less value than a street corner lemonade stand, if not for the generosity of the Fed. The Fed lent money to Bear Stearns and its purchaser, JP Morgan Chase, under terms that no private lender would have agreed to. The risk that the Fed will end up with a substantial loss on its advances to Bear Stearns is quite large, with no prospect for any real return on its investment.

This raises the obvious question: why did the Fed, an agency of the US government, use our tax dollars to keep Bear Stearns and its rich managers and shareholders above water? After all, the government supposedly doesn’t have enough money to provide kids with healthcare and child care, to guarantee families decent housing or to meet a long list of other needs. Why do we have the money to lend tens of billions of dollars to prop up Bear Stearns at discounted interest rates?

There are two points about this bailout that should be clear. First, this is a bailout – we are handing money to Wall Street. Second, we don’t have to hand tens of billions of dollars to the country’s richest people to save the financial system. Read more…

Like Palast, Alan Dershowitz Smells A Big Fat Hairy Rat!

March 17, 2008

I guess that Rupert Murdoch hasn’t totally ruined the reputation of the Wall Street Journal, yet. 😉

Like Greg Palast, Alan Dershowitz seems to be thinking that the whole “investigation” into former governor of New York seems suspect at best, and probably entrapment by the justice department.

Another thing that Dershowitz points out is how the Bushtard government is abusing their illegal domestic spying programs. We have been told that the Bushtard administration needed to spy on us American sheeple to protect us from the Islam O’ Fascists and would never be used for political gain or other fascist like activities. Well I guess that George W. Bushtard has “Fooled Us Again”, Doh!

If you ask me, what really sparked the justice departments interest in Eliot Spitzer wasn’t his Vitter like appreciation of call girls, but his column in the Washington Post from last Wednesday. Which do you think is a larger threat the the Bush administration? Spitzer bedding prostitutes or the govener writing an opinion piece called “Predatory Lenders’ Partner in Crime – How the Bush Administration Stopped the States From Stepping In to Help Consumers“.

The Entrapment of Eliot

By ALAN M. DERSHOWITZ
March 13, 2008; Page A19

The federal criminal investigation that has led to Eliot Spitzer’s resignation as governor of New York illustrates the great dangers all Americans face from vague and open-ended sex and money-transaction statutes.

Federal law, if read broadly, criminalizes virtually all sexual encounters for which something of value has been given. Federal money-laundering statutes criminalize many entirely legitimate and conventional banking transactions. Congress enacted these laws to give federal prosecutors wide discretion in deciding which “bad guys” to go after.

Generally, wise and intelligent prosecutors use their discretion properly — to target organized crime, terrorism, financial predation, exploitation of children and the like. But the very existence of these selectively enforced statutes poses grave dangers of abuse. They lie around like loaded guns waiting to be used against the enemies of politically motivated investigators, prosecutors and politicians.

There is no hard evidence that Eliot Spitzer was targeted for investigation, but the story of how he was caught does not ring entirely true to many experienced former prosecutors and current criminal lawyers. The New York Times reported that the revelations began with a routine tax inquiry by revenue agents “conducting a routine examination of suspicious financial transactions reported to them by banks.” This investigation allegedly found “several unusual movements of cash involving the Governor of New York.” But the movement of the amounts of cash required to pay prostitutes, even high-priced prostitutes over a long period of time, does not commonly generate a full-scale investigation.

We are talking about thousands, not millions, of dollars. We are also talking about a man who is a multimillionaire with numerous investments and purchases. The idea that federal investigators would focus on a few transactions to corporations — that were not themselves under investigation — raises as many questions as answers.

[Eliot Spitzer]

Even if Mr. Spitzer’s derelictions were serendipitously discovered as a result of routine, computerized examination of bank transactions, the dangers inherent in selective use of overbroad criminal statutes remain. Money laundering, structuring and related financial crimes are designed to ferret out organized crime, drug dealing, terrorism and large-scale financial manipulation. They were not enacted to give the federal government the power to inquire into the sexual or financial activities of men who move money in order to hide payments to prostitutes.

Once federal authorities concluded that the “suspicious financial transactions” attributed to Mr. Spitzer did not fit into any of the paradigms for which the statutes were enacted, they should have closed the investigation. It’s simply none of the federal government’s business that a man may have been moving his own money around in order to keep his wife in the dark about his private sexual peccadilloes.

But the authorities didn’t close the investigation. They expanded it, because they had caught a big fish in the wide net they had cast. Read more…

Spitzer “Nailed” because of Illegal Bailout of Predatory Lenders!

March 17, 2008

The $200 billion bail-out for predator banks and Spitzer charges are intimately linked

By Greg Palast
Reporting for Air America Radio’s Clout

March 14th, 2008

Bernanke Explains why the 200 Billion is good for YOU

While New York Governor Eliot Spitzer was paying an ‘escort’ $4,300 in a hotel room in Washington, just down the road, George Bush’s new Federal Reserve Board Chairman, Ben Bernanke, was secretly handing over $200 billion in a tryst with mortgage bank industry speculators.

Both acts were wanton, wicked and lewd. But there’s a BIG difference. The Governor was using his own checkbook. Bush’s man Bernanke was using ours.

This week, Bernanke’s Fed, for the first time in its history, loaned a selected coterie of banks one-fifth of a trillion dollars to guarantee these banks’ mortgage-backed junk bonds. The deluge of public loot was an eye-popping windfall to the very banking predators who have brought two million families to the brink of foreclosure.

Up until Wednesday, there was one single, lonely politician who stood in the way of this creepy little assignation at the bankers’ bordello: Eliot Spitzer.

Who are they kidding? Spitzer’s lynching and the bankers’ enriching are intimately tied.

How? Follow the money.

The press has swallowed Wall Street’s line that millions of US families are about to lose their homes because they bought homes they couldn’t afford or took loans too big for their wallets. Ba-LON-ey. That’s blaming the victim.

Here’s what happened. Since the Bush regime came to power, a new species of loan became the norm, the ‘sub-prime’ mortgage and its variants including loans with teeny “introductory” interest rates. From out of nowhere, a company called ‘Countrywide’ became America’s top mortgage lender, accounting for one in five home loans, a large chunk of these ‘sub-prime.’

Here’s how it worked: The Grinning Family, with US average household income, gets a $200,000 mortgage at 4% for two years. Their $955 monthly payment is 25% of their income. No problem. Their banker promises them a new mortgage, again at the cheap rate, in two years. But in two years, the promise ain’t worth a can of spam and the Grinnings are told to scram – because their house is now worth less than the mortgage. Now, the mortgage hits 9% or $1,609 plus fees to recover the “discount” they had for two years. Suddenly, payments equal 42% to 50% of pre-tax income. The Grinnings move into their Toyota.

Now, what kind of American is ‘sub-prime.’ Guess. No peeking. Here’s a hint: 73% of HIGH INCOME Black and Hispanic borrowers were given sub-prime loans versus 17% of similar-income Whites. Dark-skinned borrowers aren’t stupid – they had no choice. They were ‘steered’ as it’s Read more…