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Doesn't the whole deal come down to one basic question -
Do we want the banks to control the government
or ...
Do we want the government to control the banks?
If corporations have been granted "personhood" - essentially a form of US citizenship - shouldn't they be required to reside in the US and have all their assets within the borders of the United States? In other words, if most of their business is located outside the US - are they truly US citizens - or are they really global corporations masquerading as US companies to qualify for "personhood?"
Hi Matt, this is my first post on Thom's site. I have been listening to him for about 3 year and I am just signing up and posting. for the first time. Here is the link to the Bush speech http://blogs.tnr.com/tnr/blogs/the_plank/archive/2009/04/22/memories.aspx
I utterly agree with Thom that we will one day be referred to in the same breath as other countries that sanctioned torture. It is truly a un-forgivable degradation to the moral status of America and we owe it to the world to prosecute the perpetrators of this heinous international crime.
To me Condoleeza Rice being questioned by Standford students is the "under the radar" story of the week. What are everyone's thoughts on that?
I did get to speak to Sen Sanders this morning but didn't get my full question out.
Sen Sanders said the banks were committing illegal acts. My question is, "THEN WHERE IS CONGRESS?" If they know of illegal activities it is their duty to investigate. Course, this will probably go the way of the torture issue. Torture is not a debate. It is criminal & war criminals should be investigated.
I would like to hear Bernie's opinion on Tim Geithner. This morning on Tom Ashbooks's show Jack Beatty had some pretty negative things to say about Geithner. The tenor was that Geithner is a pawn of the financial companies, and thus unfit for the job he has been given. Thanks.
Want to know which hedge funds deserted Chrysler? Here's the info:
http://emptywheel.firedoglake.com/2009/04/30/jp-morgan-chase-forces-chry...
Update: JPMorgan Chase may have been willing to deal. It was a couple of hedge funds that were the final holdouts.
The holdouts are no longer the big four banks (and TARP recipients) that together own 70 percent of Chrysler's debt. Both the Journal and the Washington Post have fingered three hedge funds -- Oppenheimer Funds, Perella Weinberg Partners' Xerion Capital Fund and Stairway Cap Management -- as the sticklers. The government is faced with the unenviable prospect of getting unanimous consent from all the bondholders to make a deal, which gives the hedge funds extraordinary leverage. In the parlance of Wall Street, taking a hit on what you are owed is known as a "haircut." The hedge funds seem to be allergic to the barbershop.
Max Keiser slays the corporatist overlords that run this country and confirms Thom's "theory" on the hedge funds auto industry cannibalists
http://www.youtube.com/watch?v=8Dr4RYso8RY&feature=player_embedded
How can all of "The Best And The Brightest" students be educated for productive roles in society? It is they, who must cooperate, and quickly and reliably respond, in times of crisis, and with the best answers! IMO, our greatest crisis as a society, may be our lack of international friends?
Thom is Brilliant, and Bernie is such a breath of fresh air every Friday afternoon.
I've deicded and curious if us Thom listeners can start a new phrase.
As that idiot Hannity calls people who fail to look at facts and join his garbage spewing rants " Hannitized".
Perhaps we can call people who actually are intelligent, and look at factual evidence "Hartmanneducated!"
I realize Thom isn't as Egotistical as "Sean Vanity" however :)
We could also push to change Fox News channel to Fox Entertainment channel :)
Can't wait to hear the show, read the new book, and continue to spread the word about Hartmann! Thanks for everything you and your listeners do Thom and Bernie!!
tracey darling - Are you aware of what proportion of tax the top 1% pay in federal income taxes? For the tax year 2006, the top 1% of income earners paid 39.89% of all federal income taxes. For the same year, the top 5% of earners provided 60.14% of all federal income taxes. The bottom 50% shouldered 2.99% of the burden.
So how exactly are "the rich" not paying their fair share?
Hey everyone, I just signed up! I have been looking and can not find the transcript of the George Bush speech on torture Thom quoted today. I believe the date of the speech was June 26 2003. If anyone has a link to it I thank you.
In corporate management, we’re fond of saying “If you can’t measure it, you can’t manage it.” We measure customer satisfaction, budget to expenditures, progress towards deadlines, quarterly earnings, and much more.
As I heard about more people being sent home from work today at Chrysler (the latest additions to the burgeoning rolls of the unemployed, under-employed, and “furloughed”), it gave me an idea: Let’s measure something else. Let’s measure what we’re not doing. Let’s measure the effects of idleness on production. For starters, now that so many are unemployed, simply think of the idle man-power we aren’t putting to use, the collective education residing in the hundreds of thousands of unemployed people we aren’t leveraging. Think of the creativity we aren’t tapping, the problems we aren’t solving, the bridges we aren’t reinforcing, the power grid we aren’t attending to, the waterlines we’re letting deteriorate, the inventions we aren’t inventing, the research we aren’t doing. What a waste of human potential. If we measured it, we’d have something to correct, something against which to measure progress.
At the moment, some people have a vague sense we should be inventing, producing, thinking, manufacturing, servicing. But without hard numbers, how will we know when we’re improving or getting worse? I’m not suggesting this is an easy metric, but we have an entire quadrant of the government enraptured with gyrating numbers (GAAP, FASB). A little creativity, a fancy calculator, and who knows?
But seriously, the recovery of the economy depends on the one thing we aren’t doing: Making the most of our human potential. Instead we’re sending it home without a paycheck. We won’t see our citizenry as producers (rather than consumers) until we start measuring the effects of and the ways in which we produce (construct, cure, invent, research, serve)—or don’t (as now)—rather than the effects of and the ways in which we consume.
Thom,
Our (United States) economic problems are rooted in need to adjust into a workable world economy based upon true entrepreneurial capitalism rather than the predatory version that presently rules the world system. We need a universal currency and a standardized labor value world wide. With a universally accepted labor/management/owner bill of rights based upon the best of any system now in existence, most of the economic problems that face the world, the United States included, would be solved. Anything less than this is only a patch to a global problem.
Anyone who has observed the economic challenges being faced by the European Union would know that the United States is struggling with similar economic problems. They would also observe that the EU constitution is a modern version of our own constitution. We both have the the right "rules on the side of the barn" (Orwell's, Animal Farm). We just need to apply them, and ask the rest of the world to follow the example.
from senator:
U.S. Senator Debbie Stabenow (D-MI) today made the following statement regarding the President's announcement concerning Chrysler:
"Like families and workers across Michigan, I am disheartened by today's news. It's outrageous that after workers, management, and a majority of bondholders came to the table and negotiated in good faith, a small number of hedge funds and creditors refused to compromise and now Chrysler is forced to declare Chapter 11 bankruptcy.
"I am confident that Chrysler will emerge from bankruptcy, with its strategic partner Fiat, as a revitalized, viable company. Also, I am gratified that the deal announced today will protect the health care and pension benefits of our auto workers and retirees. Yet, we understand that there will be more pain to come for people in Michigan. The White House has committed to helping workers who lose their jobs and the communities that are affected. I am focused on working with the President to bring tangible assistance that those families and communities need to survive this turmoil. And I will fight to keep as many jobs in Michigan as possible and preserve our communities.
"For those on Capitol Hill and Wall Street who don't seem to understand what this crisis is all about, I'm here to tell them that it's about people. It's about families. It's about communities and jobs. This is about saving our manufacturing base. I understand that we're fighting to preserve our way of life in Michigan, advance the middle-class in America, and rebuild the backbone of our economy.
"The global economic crisis has demonstrated that we must build things in America. I will work every day to make that happen and create jobs here at home." - U.S. Senator Debbie Stabenow
In hindsight I should have liquidated my entire life/retirement savings in 2007 when I boarded the following commercial airline:
AIR CANADA #4623
Operated by UNITED EXPRESS
division of UNITED AIRLINES
for SHUTTLE AMERICA
a subsidiary of REPUBLIC AIRLINES
I am not making this up!
From V Foxx website: (excepts)
“During this time of considerable economic uncertainty, misleading our state’s senior citizens—many living on fixed incomes—into making a donation to ‘save’ their future Social Security is not only morally abhorrent, but it also seems legally suspect,” Rep. Foxx wrote to Attorney General Cooper.
The same group that sent the Social Security letter, Council of Seniors, was recently cited by the Indiana Attorney General for sending deceptive fundraising appeals to households in Indiana.
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It would seem that Viginia is against SOME hate crimes. Still, I plan to write and chastise her for speaking so lightly of a horrendous crime (Matthew Shepherd). We have seen this and beheadings from young people who think that hate is ok!
Virginia Foxx
Washington, D.C. Office
1230 Longworth House Office Building
Washington, D.C. 20515
Phone: (202) 225-2071 Fax: (202) 225-2995
North Carolina District Offices
6000 Meadowbrook Mall, Suite 3
Clemmons, N.C. 27012
Phone: (336) 778-0211 Fax: (336) 778-2290 Toll Free: 1(866) 677-8968
240 Hwy 105 Extension, Suite 200
Boone, N.C. 28607
Phone: (828) 265-0240 Fax: (828) 265-0390
Jeff, unfortunately, she's still a little too goofy (and scary) to ignore yet!
Thom, you and your mom are often in my thoughts. (A very dear and beloved member of my family suffered with the same disease.) I have been reading interesting articles about new Alzheimer's and diabetes research and therapies. Here's one example:
Potential New Drug Target For Diabetes, Alzheimer's Disease
http://www.medicalnewstoday.com/articles/147259.php
Now for something completely different:
Louise, I listen to the show over the internet. At the end of every show, I hear a wonderful snippet of music. It's always interesting and I always wish I could hear the entire piece! (It seems like a delightful "thin mint" after Thom's huge cerebral "meal.")
Regarding Michelle Bachman and the Cons:
First we fought you, now we laugh at you, then we will ignore you, then we will win.
Michele Bachmann was "installed" by the crazies in the Bush Administration, with Bush out here (in Minnesota) fund-raising for her. I don't understand how a state like MN, which used to be so well-educated and so progressive, could cough up someone like her. I do think that, because of our history, we have been on a right-wing "hit list."
We knew, from the beginning of her run for Congress, that Bachmann was a nut. Remember the photos of her hiding in the bushes while she spied on a gay pride parade?
BTW, the 2 schools that have been closed in MN due to the "flying pig" outbreaks are in Michele Bachmann's district! Go figure...
Re: Torture
There were anti-torture protesters in front of the White House today, wearing orange jumpsuits. They were *arrested* and they weren't doing anything wrong. They were exercising their first amendment rights.
What's wrong with this picture? Are the "tea party" protesters the only ones allowed to protest in front of the White House?
Hello,
This is my first attempt at joining the discussion. I hope I am doing it correctly. 3 things on my mind.
Last week I was in the grocery store and struck a conversation with a woman who told me she and her husband were retired and not sure how they would survive the coming hard times especially since they were on Soc Sec and were not going to get a cost of living increase for 3 years. So I tried to do the 'win the water cooler war' thing and mentioned corporate raider and reckless betting with our retirements and tax structering etc ( I didn't have time for much but thanx to Thom I had some ideas ready to hand) She told me that people who make the top 1% and pay proportionately tiny rate of tax 'deserve it because they worked hard and earned it.' I asked her if she thought the AIG guys who got bailed out and then got the bonuses 'deserved it' and she said 'they were an extreme case and we would agree to disagree' . She had her grocery bags loaded up and left so that was the end of our mini debate. but I have been stuck on it for days. And it occurred to me the issue for her and Why someone would speak and think and work against their own interest was that maybe she thought it was some Horatio Alger sort of 'America Land of Opportunity' and that she might 'Get Lucky' and succeed BIG too.
The other two things are some books. As Thom was speaking about world population and birth control I wanted to tell you about a very good book called
'Fatal Misconception ;The Struggle to Control World Population' by Matthew Connolly
And another book I just read called "The Alchemy of Air' by Thomas Hager about the Haber Bosch Process. Maybe if you haven't already done so one or both of there authors might be guests on the show.
Thanks to Thom and all the Thom H. team, you guys are inspiring me to step up and speak out even though I have been deeply cynical about the politcal process and my place in it.
When asked about Michelle Bachman’s comments, Hoot Smalley said, “I did terrific things for the economy! And I helped people! Because I was good enough, I was smart enough, and, doggonit, the economic elites liked me!
Speaking of Michelle Bachmann, she made the erroneous comment about how it was an "interesting coincidence" that the last swine flu outbreak was under a Democratic president when it was actually under Republican Gerald Ford, but the interesting coincidence is that the first incidence of the current swine flu strain in Minnesota is in her district...
I believe just before I got back here at work you said that you were the only person out there really challenging the hedge funds in regards to holding Chrysler hostage. I wanted to let you know that yesterday after a flu-briefing to the State of Michigan, Governor Jennifer Grandholm called out those same hedge funds and named three specifically; Oppenheimer was one of them but I cannot remember the others. After only a minute or so they cut her off (ABC local affiliate). I don't know if it was on purpose.
I decided this morning to look into finding more info on this and see who was reporting on it. The only report I found in the short time I had was out of Italy.
Kudos to you and Gov. Granholm - keep up the good fight - we sre out here waiting for our chance. Keep giving us the tools.
When talking about the problems hedge funds are causing for Chrysler, you're leaving out the worst part. You noted that the reason the are forcing Chrysler into bankruptcy is so they can collect on their Credit Default Swaps. But you didn't mention that the reason they *can* collect on their CDSs is that the U.S. government bailed out AIG, the irresponsible issuer of more CDSs than they had assets to back. Without the bailout, that market would have collapsed.
So effectively, they are doing it because the taxpayers are paying them to do it!