• Right…and we are not seeing this reality on MSNBC, especially the fact that obama’s plan would eliminate the vast majority of cuts to the military, as you say, Jon Walker. Do you have a link for that? Obama’s plan on whitehouse.gov, which they say is still the latest plan delivered to Boehner, still includes $100 billion cuts to military programs http://www.whitehouse.gov/sites/default/files/docs/deficit_reduction_table_bucketed_r8.pdf

    I’m not defending Obama, I’m pretty certain he is complicit in screwing the middle class, just want to know the facts.

  • Wow…I totally get what’s going on with the sequester now…astute observation, Jon walker, and excellent discussion.

  • Femblogger commented on the diary post Nationwide Overpass Light Brigades Join #WalmartStrikers by Kit OConnell.

    2012-11-25 07:11:18View | Delete

    WoW…thanks for the excellent report! …and congrats to you and Occupy Austin and the Light Brigade (what an imaginative addition to the protest) to make the most of this opportunity for action …Occupy + Unions = the sky’s the limit :)

  • Being charitable, perhaps Drum recognizes the futility of working with the corporate MSM, or not – maybe he’s jealous that his colleague, David Corn, broke the story of the campaign with the telling of the 47% video.

    Stupid column or not, it led to Gosztola’s excellent post and an interesting, informative, and thought provoking discussion.

  • Femblogger commented on the blog post Bank of America’s Cascade of Settlement Payoffs Continue

    2012-09-29 09:40:48View | Delete

    News of the settlement aside, you hint at the bigger picture:

    And policymakers should ask themselves why they propped up a zombie bank so it could pay off its legal exposure and not much else.

    I’m no expert, but I watched enthralled as the U.S. economy came tumbling down in Sept. 2008. BofA buying Merrill was part of the solution the Oligarchs (U.S. Fed gov’t) came up with. That, I think, is the answer to your ‘why’ question, and, according to a NY Times blog on the issue, how BofA may decide to defend itself in a final piece of litigation still pending, violation of NY state securities law, brought by then NY Attny Genl Andrew M. Cuomo:

    Filed on the same day that the S.E.C. settled its case, it accuses the bank, Mr. Lewis, and the former chief financial officer Joseph L. Price of misleading shareholders about Merrill’s financial condition.

    If the New York case goes to trial, it will dredge up a host of issues about what the executives knew about the extent of the problems at Merrill. To defend themselves, Mr. Lewis and Bank of America could try to offer evidence about the role of the federal government in pushing him to complete the deal during the throes of the financial crisis.

    It’s all just esoteric building blocks following the 2008 crash. Court cases that are settled don’t change anything. We can plainly see that this settlement suggests accountability, but it is just an illusion. In settlements there is no admission of guilt or responsibility. The conditions that led to the court case remain unchanged.

    You are right..it’s policy makers who must be held accountable. Policy makers must make changes…federal financial laws/regulations have to change…bring back Glass-Steagall, etc. Financial deregulation since the 1990′s brought us the 2008 collapse. BofA is merely a player.

  • Femblogger commented on the diary post My Typical Reply When Obama Asks for Our Money by EdwardTeller.

    2012-09-16 08:30:43View | Delete

    Ha, I started replying to emails from Obama, DSCC, and the DCCC asking them Why are you asking the little people for money? Don’t you get enough from Wall St and big corps? Now I don’t get so many emails, but they are sending me stuff in the regular mail, which I have to throw [...]

  • Femblogger commented on the diary post Washington Post Editorializes for Medicare Cuts on Page 3 by Dean Baker.

    2012-08-17 11:50:18View | Delete

    Wow! Say it ain’t so Huck, is the only thing I can think of. thanks!

  • Femblogger commented on the diary post Smoke…and the Great Social Awakening by wendydavis.

    2012-08-17 11:37:50View | Delete

    … enjoyable read in these days of wondering how shall we overcome the power and money that surpass us all, the Occupy, Labor, and other movements.

  • Femblogger commented on the diary post New York Times: The Banks Win, Again by DSWright.

    2012-03-19 16:54:45View | Delete

    This story cannot be repeated too many times. It just boggles my mind that for all we know of the fraud that went on during the housing bubble and the crash (e.g., The Inside Job documentary that won an academy award, Michael Short’s highly readable book The Big Short, and hard to read because it covers [...]

  • Femblogger commented on the diary post Bloomberg Reveals Keystone Pipeline Helps Oil Producers Raise Prices by Scarecrow.

    2012-03-01 16:45:34View | Delete

    What an interesting article. It’s good to know the method behind their madness, though it’s still the same as it’s always been…profits…can’t have anyone paying lower prices that cut into profit.

    In response to Econobuzz, I don’t think this affects Barry’s decision one bit; it explains it.

  • We want to see bankers and unethical investment managers go to jail because it would uphold the rule of law – they might be deterred from again giving greed free rein, and they might be deterred from seeing to it that regulations remain lax.

    Nevertheless, Thank you for sharing your knowledge of the 1929 period.

  • Ah, thanks much for the roundup:
    “Bottom line consensus seems to be that the structure of the settlement technically permits criminal prosecutions, but that the realities of politics and attorney general realities dictates that criminal prosecutions are effectively not gonna happen.”

    Major bummer…you’re probably right…back to the drawing board.

  • Femblogger and Picturerealitychecker are now friends

    2012-02-09 18:51:15View | Delete
  • Hmmm. Schneiderman says deal does not release banks,incl Wall Street investment banks, from any criminal liability.

    Also, DOJ task force has lots of money to staff legal aid across the country to help homeowners bring individual suit.

    Still, hard to believe until we see it.

    Now Schneiderman is urging the “populist” uprising – OWS – to support the President. “It doesn’t matter who you elect,” he said, a president needs a movement to help. Yeah, but a president still needs the moneyed elite to get elected and then is beholden to them, as Obama has shown us.

  • Maddow just said, emphatically, this deal is only “step one.” The DOJ task force is going to get the job done. Hmmm.

    Ok, looks like her interview with Schneiderman is going to be a good public relations spot.

  • Speaking of Maddow,I have her show on and she just said she has Eric Schneiderman coming up for an interview. Let’s see what she does with him.

    Totally agree, this deal really sucks. Didn’t we know something was up, though, when Obama appointed Schneiderman to DOJ task force.

    Of course, this is only the housing market…there’s plenty of fraud to prosecute in the big investment banks..mortgage backed securities..and they’re going to get away with it too.

    I, for one, was holding out hope that at least some of the crooks would be held accountable. Just plain sucks…they ruined the economy and we pay for it.

  • Femblogger commented on the blog post Bank of America Sinking, May Pull Out of Geographic Regions

    2012-01-13 18:01:06View | Delete

    I’m pretty sure you’re right. I think the death wish for BofA is symbolic. It would be a substitute for the lack of due process against the subprime lenders who sought to make a quick buck.

  • No way! Prosecute those bastards!

  • Femblogger commented on the blog post Fed Notes from 2006 Show More Economic Incompetence

    2012-01-13 17:31:30View | Delete

    Right on! Thanks for the info!

  • Femblogger commented on the blog post Fed Notes from 2006 Show More Economic Incompetence

    2012-01-13 17:23:30View | Delete

    The problem, as I see it, is Obama KEPT these guys. They most definitely are NOT stupid AND were warned of the dangerous bubble. See the link in Dayen’s post at Geithner doesn’t come off so hot. It’s to a Huffington Post story published yesterday about the release of these tapes.

    Federal Reserve Governor Edward Gramlich warned The Fed board for several years leading up to 2006 about the dangers to the economy in the subprime housing market. Greenspan and others CHOSE not to heed the warnings. I recall the Time magazine cover story in late 2008 or early 2009 about the culprits to blame for the Great Recession. Greenspan was in the top 10.

    So, my point is these bad guys CHOSE not to heed the warnings. Since we know they are not stupid, they were blinded by the Profit Motive. It is the only plausible explanation.

    The thing is Obama kept the same people, CHOSE not to prosecute the perpretators of pervasive fraud of the subprime housing market, and now is blaming the idiotic Congress.

    That’s a fine mess you’ve got us in, as the saying goes.

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