Tag Archives: Crisis

Tea Party Horror Show

What sort of person would deliberately ignore the obvious fundamental reality of any budget?

By Numerian

It’s hard to say if the Tea Party has an acknowledged leader, but someone who professes to be just that has chosen a very opportune moment to trash Speaker John Boehner’s attempts to craft legislation that would allow an increase in the debt ceiling. Judson Phillips, the CEO of Tea Party Nation, is the self-acknowledged head of the Tea Party, and in an editorial this morning in The Washington Post, he attacks Boehner’s legislation for providing “almost non-existent budget cuts.”
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Congressional Criminal Conspiracy! Defaulting when you don’t need to is a crime

By Michael Collins

If we defaulted on our debt when we were perfectly capable of paying it, we would be be prosecuted for fraud. But when Congress does it, they call it politics.

The crazies in the United States House of Representatives would have you believe it were so. They say fix that budget before we’ll raise the debt ceiling. If we don’t get our fix, they announce, there’s no deal. We’ll just default until things get straightened out. (Image: George Romero)
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The Banking Crisis – Scathing Critique and Real Solutions

Those who should be leading this country, and contributing to its development, have spent the past 25 years joining the parade of looters and predators who have found ways to extract wealth from the middle class and the poor in this country. Numerian
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Wall Street’s Dirty Lies

By Zach Carter, Media Consortium Blogger   Care2.com

Over the past thirty years, Wall Street has waged a steady war against governments around the globe, convincing policymakers of various ideological stripes that whatever raises profits for bankers and traders will be good for the rest of society. It’s a very simple and appealing portrait of how the world works. Unfortunately, it’s completely wrong.

Profiting from hunger

In an interview with AlterNet’s Terrence McNally, economic luminary Raj Patel explains the connection between widespread global poverty and wild Wall Street profits. Markets are defined by a set of rules—if those rules completely disregard social welfare, then the participants in those markets will ignore them as well. When traders can make a quick buck speculating on the price of rice, they will, even if that speculation drives up the price of a basic necessity and makes people go hungry.

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Nomi Prins, “It Takes a Pillage”

After Words: Nomi Prins, author of “It Takes a Pillage” interviewed by Sen. Bernie Sanders

Nomi Prins, former managing director at Goldman Sachs and current senior fellow at Demos, talks about the 2008 financial crisis and its ongoing aftermath. This is the subject of her latest book, “It Takes a Pillage: Behind the Bailouts, Bonuses and Backroom Deals from Washington to Wall Street.”

Ms. Prins discusses her book with Vermont senator Bernie Sanders (I). Prior to coming to the Senate in 2007, Sen. Sanders spent 16 years representing Vermont in the House of Representatives. He currently sits on five Senate committees, including the committee on Labor & Pensions.