First Fed audit reveals $16 trillion in secret loans; conflicts of interest

By Sen. Bernie Sanders

The first top-to-bottom audit of the Federal Reserve uncovered eye-popping new details about how the U.S. provided a whopping $16 trillion in secret loans to bail out American and foreign banks and businesses during the worst economic crisis since the Great Depression. An amendment by Sen. Bernie Sanders to the Wall Street reform law passed one year ago this week directed the Government Accountability Office to conduct the study.

“As a result of this audit, we now know that the Federal Reserve provided more than $16 trillion in total financial assistance to some of the largest financial institutions and corporations in the United States and throughout the world,” said Sanders. “This is a clear case of socialism for the rich and rugged, you’re-on-your-own individualism for everyone else.”

Yes Men prank AP on GE promise to pay back taxes

By The Yes Men

GE Returns Billions to Public… NOT

USA Today, AP fall for US Uncut ploy; GE stock loses billions

Washington, DC – US Uncut, a burgeoning grassroots movement pressuring corporate tax cheats to pay their fair share, posted today a fake GE press release announcing that they would return their illegitimate (but legal) $3.2 billion tax refund, and that they would lobby to close the sort of corporate tax loopholes that had allowed them to skip taxes in the first place. Several major media outlets, including USA Today, ran the story as true. (Here is a link to the original USA Today story; here is the first article debunking the release.)

Obama’s Fatal Addiction: Immelt must go

By Robert Scheer
TruthDig

If it had been revealed that Jeffrey Immelt once hired an undocumented nanny, or defaulted on his mortgage, he would be forced to resign as head of President Barack Obama’s “Council on Jobs and Competitiveness.” But the fact that General Electric, where Immelt is CEO, didn’t pay taxes on its $14.5 billion profit last year—and indeed is asking for a $3.2 billion tax rebate—has not produced a word of criticism from the president, who in January praised Immelt as a business leader who “understands what it takes for America to compete in the global economy.”

Winds chase evacuees in Japan; Hawaii threatened by Fukushima fallout

By Rady Ananda

In a deepening tragedy, after an earthquake and tsunami caused four explosions at nuclear reactor plants in Japan, most of those who evacuated the area headed south, since winds normally would have pushed the radioactive clouds to the north and east. Instead, winds pushed the r-clouds south, according to The Australian. The shift in winds now threatens Hawaii with fallout from the Fukushima nuclear facilities.

Officials finally admit radiation has reached lethal levels in the area surrounding the explosions.  Tokyo, 200 miles to the south, is also seeing higher levels of radiation. “[A]bnormal radiation and traces of radioactive elements were detected around Greater Tokyo, the world’s most populous metropolitan region with 36 million people.”

The paper also noted that “Hong Kong, The Philippines, Singapore and South Korea began testing Japanese food imports for radiation yesterday.”

TSA promises $10,000 fine for refusing sexual assault

By Rady Ananda

At the San Diego International Airport yesterday, about one-fifth of the travelers were selected for sexual assault by transportation security agents. Though TSA’s website did not list SAN as one of the airports employing the carcinogenic naked scan or a full body rub down, one man was told his refusal to submit would result in a civil law suit and a $10,000 fine. Under 49 CFR Sec.s 1540.105 and 1540.107, as summarized in these 2004 TSA Sanction Guidelines, apparently TSA has Congressional support to fine people for refusing to submit to molestation.

John Tyner posted his video of the incident and described in detail the experience. At about 3:50 into the first video, Tyner tells TSA agents:

“If you touch my junk, I’m gonna have you arrested.”