April 04, 2009
Global warming denialists need better arguments
Andrew Revkin explains why, especially in the face of denialists who spout of about bits of cooling here and there.
Obama’s Taliban tar baby pops up again
Pakistani Taliban militant leader Baituallah Mehsud, apparently determined to ride the wave of publicity from Obama’s AfPak “surge,” has claimed responsibilty for the New York immigration center shooting, when it’s clear he had nothing to do with it.
You know, if we worked on getting out of Afghanistan, we’d suck al the PR air out of the balloon from this guy.
You know, if we worked on getting out of Afghanistan, we’d suck al the PR air out of the balloon from this guy.
Tim Geithner – fraudster, part 2 – with Obama & Summers
The Geithner-Summers-Obama troika is wanting to let its TARP buddies off a big financial hook. Here’s the nutgraf, right up top
How is the troika trying to do this? By setting up Enron-type “special purpose vehicles” to avoid giving money directly to in-danger financial institutions.
Ahh, we’ve reached the nadir of financial neoliberalism in the Democratic party when the President of the United States and his top financial advisors are taking pages from Enron’s playbook.
Of course, we have a second, pull quote nutgraf on page 2:
We can only hope somebody sues to see if the courts agree, failure of Congress to pass a veto-proof forbidding of this, and that the courts do indeed rule it’s ridiculous.
Read the full story.
The Obama administration is engineering its new bailout initiatives in a way that it believes will allow firms benefiting from the programs to avoid restrictions imposed by Congress, including limits on lavish executive pay, according to government officials.
How is the troika trying to do this? By setting up Enron-type “special purpose vehicles” to avoid giving money directly to in-danger financial institutions.
Ahh, we’ve reached the nadir of financial neoliberalism in the Democratic party when the President of the United States and his top financial advisors are taking pages from Enron’s playbook.
Of course, we have a second, pull quote nutgraf on page 2:
“They are basically trying to launder the money to avoid complying with the plain language of the law,” said David Zaring, a former Justice Department attorney who defended the government from lawsuits involving related legal issues. “They are trying to create a loophole to ignore Congress, and I think the courts will think that it’s ridiculous.”
We can only hope somebody sues to see if the courts agree, failure of Congress to pass a veto-proof forbidding of this, and that the courts do indeed rule it’s ridiculous.
Read the full story.
Tim Geithner – fraudster
Last night, on Bill Moyers Journal, William Black said, quite bluntly, that Treasury Secretary Tim Geithner is committing fraud, with TARP 2.0 and TALF. It all started when Moyers asked him why GM CEO Rick Wagoner gets canned and not Bank of America CEO Kim Lewis or somebody like that. Black responded:
Finally, someone “mainstream” in the economics world who will go beyond even Krugman and call a spade a spade.
Read the whole interview transcript or watch the video to see the details of Black’s charge.
If we put honest people in, who didn't cause the problem, their first job would be to find the scope of the problem. And that would destroy the cover up. …
Geithner is charging, is covering up. Just like Paulson did before him. Geithner is publicly saying that it's going to take $2 trillion — a trillion is a thousand billion — $2 trillion taxpayer dollars to deal with this problem. But they're allowing all the banks to report that they're not only solvent, but fully capitalized. Both statements can't be true. It can't be that they need $2 trillion, because they have masses losses, and that they're fine.
These are all people who have failed. Paulson failed, Geithner failed. They were all promoted because they failed, not because...
Finally, someone “mainstream” in the economics world who will go beyond even Krugman and call a spade a spade.
Read the whole interview transcript or watch the video to see the details of Black’s charge.
Krispy Kreme going broke?
Say it ain’t so! But, Moody’s has it on a list of “bottom-rung” companies that are most likely to default on debt payments. It’s all part of what may be the biggest troubled industry after cars, houses and newspapers in the current recession — restaurants. “Casual dine” chains, especially, overbuilt as much as cars and autos during the semi-good times earlier this decade and are now facing the financial piper.
NY decision may save desert from power lines
A decision by a New York energy consortium, dropping plans for a massive expansion in electric power line construction, may have good news for the Desert Southwest, too.
The parallels to massive lines crossing the Deert Southwest from solar projects so8nd strong. More on the court ruling behind this all is here.
The consortium, New York Regional Interconnect, cited a ruling made on Tuesday by the Federal Energy Regulatory Commission in Washington upholding a review process that demands that each such project be subject to a cost-benefit analysis and receive the support of 80 percent of the beneficiaries.
The parallels to massive lines crossing the Deert Southwest from solar projects so8nd strong. More on the court ruling behind this all is here.
Subscribe to:
Posts (Atom)