The Money Party -- thanks autorank. You put up a good fight, sir.

[HCE SuiGeneris]

A purely subjective look at our chances to survive those who rule us

Michael Collins
http://www.themoneyparty.org/main/?page_id=42

Will we survive those who rule us and those who aspire to rule in their place, that bipartisan coalition known as The Money Party?

The parade of indictments on Wall Street is just beginning. On Tuesday the FBI raided three major hedge funds (very large private, highly exclusive, unregulated investment funds that generate huge returns for the lucky few). There are more raids on the way, twelve according to one source. Business Insider’s excellent article made clear what has the Feds upset: “What’s happened, it seems, is that the government has discovered a huge ring of friends or acquaintances who all know each other.” Its called insider trading, taking advantage of information to make those huge profits the hedge funds offer. Ten years after the Wall Street Casino opened, they’re finally regulating. It may be time for a scapegoat. The hedge funds will do, it appears. The defendants may wish to put in an early bid for a conveniently located federal penitentiary.

It will be months if ever before trials to start for the targets of the FBI raids. In the meantime, Congress failed to extend unemployment benefits for four million workers set to go off the rolls in January. “The peoples’ House” voted 258 to154 in favor of extending the benefits in the midst of real unemployment around 20%. But in our nation’s capitol, a majority is sometimes not a majority sometimes. The vote fell Speaker of the House Nancy Pelosi and her crew required a super majority for passage. There’s no success like failure. Read the rest of this entry » http://www.themoneyparty.org/main/?p=266#more-266

[leftstreet]

1. "a majority is sometimes not a majority sometimes"

No shit

K&R

Thanks for posting this

[HCE SuiGeneris]

2. Anyone for a buffet?

The people's oligarch Warren Buffett just wrote a thank you letter to "Uncle Sam" published in the New York Times. It is the height of cynicism.

Buffett has a carefully crafted public image as a brilliant but people-friendly master of investments. We hear about his regular table at an Omaha diner where he conducts business (just plain Warren) and we see his occasional public stands for reasonable policies like the inheritance tax.

He claims that "Uncle Sam", the government, saved us from a financial catastrophe that would have swallowed up his company. He then endorses the notion that the housing bubble was based on "mass delusion" - meaning it was our fault. But he forgets to mention that he took advantage of the 2008 crisis to purchase a $5 billion interest in Goldman Sachs. And he forgets whose money "Uncle Sam" stole from the Treasury to save him and the rest of his cronies. What a hypocrite.

"Uncle Sam" isn't the government. The "government" is the perpetually bought and paid for chief executive, Congress, and judiciary that Buffett and his pals manipulate at will. "Uncle Sam" was never going to do anything different than what it did, bail out Wall Street and the ultra rich with our money. Buffett is really thanking himself and the other few who own Uncle Sam. He knows better. Thus, his letter is the ultimate expression of profound contempt for the people. http://agonist.org/cronycapitalism

[Starry Messenger]

3. k&r