Other Interesting Headlines – Week of July 5, 2010

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July 10, 2010

Reshma Saujani is calling herself a Democrat. She’s challenging Congresswoman Carolyn B. Maloney in the New York primary this year. Saujani is said to be a worthy opponent and will probably give Maloney a run for her money in this so-called anti-incumbent election year. However, none of this is unexpected. But what is surprising is that Saujani is a Democrat. You see, she is a Wall Streeter. She’s worked for three hedge funds and “understands how stressful and difficult the past few years have been for some of the wealthiest people in America”. With remarks like that it’s certainly understandable that she’s got Wall Street backing her. Especially since Maloney is among those calling for tougher restrictions on the banking and credit card industry. So it will be interesting to see who New Yorkers vote for; someone who’s trying to look out for their interest or someone whose interest lies with Wall Street. And there’s another point here — if I were a New Yorker I’d seriously question if Saujani was a true Democrat or if she’s simply a Wall Street plant.

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Goldman Sachs intends to keep the $12.9 billion they received from the pool of taxpayer money handed over to AIG. And, no doubt Goldman will encounter very little resistance given all their BFF’s in our government. In defending their money, Goldman made it clear that the taxpayers owed it to them by saying “’the government stepped into AIG’s shoes’ and therefore had to honor its contract with Goldman”. So what does this say? It says a precedence has been set. For future bailouts — and there will most certainly be bailouts — any company that is owed money by a bailed out company will get their money. And, as usual, the taxpayer will pay.

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Here’s something you won’t hear mentioned on the networks — an independent commission has cleared the climate-change researchers of charges of academic misconduct. Certainly you remember how corporate America, fronted by their public relations networks, made such a fuss 18 months ago over some stolen climate scientist’s emails. Those emails were used in an effort to discredit the scientist’s who are trying to tell us something of the up most importance. But from the capitalist’s point of view, its better to ignore climate change, and when it does happen, blame it on something else — preferably the Democrats.

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You may or may not recall that the Appropriations Committee ban earmarks for companies that are “for-profit” entities — a move meant to curb corporate subsidies. But never underestimate the lengths that companies will go to steal from taxpayers. These companies simply form a subsidiary that is a non-profit division, and then funnel the subsidies to the for-profit company. And Democrat Mary Kaptur of Ohio happily defends one of those companies in her state that came up with that clever trick. And I’m sure the political contribution’s she received from that company has nothing to do with Kaptur’s defense. But don’t get too upset with Kaptur — dozens more are doing the same.

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Want a glimpse into the future? Here’s your chance. Remember how Republicans have campaigned to privatize Social Security? How many of them have spoken about privatizing Medicare, with the first step toward that end taken in the 2003 with the so-called Medicare Modernization Act? Well, you’d better take a look at how “privatized Medicaid” is doing. Several states are saying they’re not receiving the Medicaid services they’re paying for. 2.7 million children on Medicaid are not receiving required screenings and immunizations, and most of them reside in states that outsource Medicaid. Milwaukee, Wisconsin says that insurers are creating profits at the expense of patient care. Now there’s some mouth-dropping news — insurers sacrificing patient care for profits. As the old saying goes, ‘you ain’t seen nothing yet’; wait until SS and Medicare are privatized.