Karl Rove's Book of Lies
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Debt by President
March 15, 2010
Social Security is broke — for the first time ever. The federal government owes Social Security $2.5 trillion. That’s not new news. But what is new news is that Social Security must start cashing in the IOU’s to pay benefits. For the first time in 20 years the Social Security Administration is collecting less money than they’ve have to pay out. So the good times are over. This year there will be a shortage of nearly $29 billion.
March 14, 2010
As chairman of the Senate banking committee, Senator Christopher J. Dodd first introduced his proposals on financial reform in November of last year. In the following months he was unable to obtain one iota of corporation from Senator Richard C. Shelby, the ranking Republican on the committee. Last month Dodd dumped Shelby as his negotiating opponent for Senator Bob Corker, another Republican member of the committee. A couple of weeks later, Shelby wanted to reengage. But Dodd and Corker were making progress. Now Shelby and other GOP members want Dodd to “slow down”.
→ No CommentsTags: Bob Corker·Christopher Dodd·Financial Reform Bill·Richard C. Shelby·Wall Street Reform
March 13, 2010
Richard S. Fuld Jr.
Evidence is out that Richard S. Fuld Jr. and others in Lehman Brothers conspired to manipulate Lehman’s balance sheets, and their auditors, Ernst & Young, is guilty of malpractice prior to Lehman going under. This information comes from a report that was unsealed last Thursday.
→ No CommentsTags: Ernst & Young·Financial Crisis·Lehman Brothers·Richard S. Fuld
March 13, 2010
Steven Pearlstein published his reviews today of the latest book on the financial crisis. Sounds like the most qualified of all books written on the crisis. I will read it. Meantime, I will leave you with only some comments from Pearlstein.
→ No CommentsTags: Financial Crisis·Steven Pearlstein·The Big Short·Wall Street
March 13, 2010
Since the decision by the Supreme Court’s “High Nine” (well, actually just five of them) that favored corporation’s rights to unlimited campaign contributions, the “wheels of justice” have been turning. As you already know, the ruling in essence declared corporations as “humans”. So what’s the next most logical step? To run for office them selves!! As “humans” now, they certainly have the right to do so. And if successful in their bid, a corporate spokesperson will become a voting member of Congress. Sounds crazy? Never happen, you say? Au contraire, my friend, Au contraire!
→ No CommentsTags: Campaign Finance Laws·Corporate Campaign Funding·Murray Hill·Supreme Court
March 12, 2010
The Republicans have got to be in a frenzy trying to figure out a way to “sale” to the public their opposition to the Democrats efforts to find a way around the recent Supreme Court ruling in favor of corporations. Like the Democrats who are hell-bent on passing a consumer-useless, corporate-friendly health care bill, the Republicans are in no way going to allow passage of any laws that circumvent the ruling — it’s a gold mine for them. But how do they convince the vast majority of voting Republicans who oppose the ruling that it is indeed “a good thing”?
→ No CommentsTags: Campaign Contributions·Corporations·Polls & Surveys·Republican Party·Supreme Court
March 10, 2010
Oh, My! Shock, shock! Surprise, surprise! How could this happen!? The sky is falling, the sky is falling! I would have never believed it! Oh, no — where will it end???
“When financial reform legislation finally lands on the Senate floor, a provision that advocates call the single most important item for Main Street investors will probably have been banished from the ponderous bill” — from Financial Reform Bill Likely to Lose Measure to Protect Main Street Investors.
Yeah, right! As if this really surprises anyone!
March 9, 2010
In the Beaumont Texas newspaper today is an article that tells us refiners in Texas “want a local property tax break to improve air quality nationwide”. If granted, the tax shortage “could fall on homeowners and small businesses”. Even in light of the latest problems with massive state and federal budget shortfalls, this on-going familiar request by corporations is still not surprising; once on welfare, always on welfare, always asking for more.
→ 1 CommentTags: Corporate Taxes·Oil Industry·Taxpayer Extortion
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