Showing posts with label Bailout. Show all posts
Showing posts with label Bailout. Show all posts

Monday, October 5, 2009

MICHAEL MOORE UNVEILS TRUE EVIL. AND IF YOU DON'T BELIEVE IT, GO WATCH THE MOVIE

It doesn't surprise me that I'm not hearing a lot more from mainstream media about Michael Moore's movie "Capitalism: A Love Story". [Trailer]
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Have they been muzzled by corporate?
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Even though we're hemorrhaging [jobs and money], the leaders and the wealthy 1% [who control about 85% to 95% of the wealth] of this country want you to think everything is really "not so bad".
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The capitalism we used to love and cherish is dead and if we don't embrace Noam Chomsky's better society and discard the disgraceful "Capitalism 201 Gone Wild", we are in deep, deep, shit.
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But everybody knows this ... right?
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Maybe not, ... maybe we're still in shock or mourning. Remember Naomi Klein's "The Shock Doctrine"?
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Oh, ... people, ... people, ... people ... have we learned nothing? The rich and powerful are masters in pulling the wool over our eyes. [see Oct. 9th, Bill Moyers Journal, Wall Street vs Reform (Video)]
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I learned a whole lot of really repugnant things watching Michael's movie. 1. I had no idea that corporations had life insurance policies on average ordinary workers. I can understand "key man" life insurance policies ... but life insurance on average workers?
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Can you see where this whole health insurance reform is heading? Probably nowhere. Even if we get some legislation, will it be real change? I don't think so.
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You ask ... why not? ...
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Well ... Who wants healthy workers when you can make money on dead ones; and the health insurance company and life insurance company can also make a healthy profit collecting premiums. A win/win for everyone ... right? Everyone accept the deceased's family.
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2. Michael wrote a piece called "Goodbye GM". It was a great piece ... and I loved his vision for a new kind of GM. Well, I'm sad to say that no one really talked about Michael's ideas. Just status quo, steady as she fails.
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There were a few glimmers of hope in the movie ... Michael showed a company where the workers owned the company; and he also showed workers that fought back and brought a company back to life, along with their jobs.
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Michael showed us it is possible to take this nation back from the greedy and corrupt capitalists.
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Barack Obama was our chance to clean house. Well, it didn't happen ... so it's up to us to change things. Bottom up ... flip the switch. Non-violent revolution.
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The tax-payers own a lot of capital in the companies who generate their own wealth, and who use their influence and power to suck the life out of the very people who now own them.
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Are we going let these snakes, hooligans and thugs outwit us? Why not challenge them in the courts, as well as doing a nationwide sit-in (in those companies corridors and offices). That will unhinge the doors to greed and wealth. Don't you think?
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CAPITALISM: A LOVE STORY - MOVIE TRAILER
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THIS IS A MUST WATCH -October 9, 2009 BILL MOYER'S JOURNAL - WALL STREET VS REFORM (video); Summary -; GUESTS: OUR CONGRESSWOMAN FROM TOLEDO (MARCY KAPTUR), AND SIMON JOHNSON (BASELINE SCENARIO)
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Thursday, March 12, 2009

BAILOUT BANKS OPPOSE EFCA - OUTRAGEOUS!

"Embattled financial giant Citigroup Inc., which has received at least $50 billion in federal bailout funds, hosted a private conference call on Wednesday to build opposition to the Employee Free Choice Act.
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The call, which came just one day after the labor-backed legislation was introduced in Congress, represents a growing effort on Citi's behalf to air concerns about the bill, which would make it easier for employees to organize. On Tuesday, the bank
downgraded Wal-Mart's rating over fears that the Employee Free Choice Act could pass.
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Wednesday's conference call was led by Glenn Spencer, a senior executive at the U.S. Chamber of Commerce and an ardent EFCA opponent. It was promoted as "An Update on the Employee Free Choice Act," but much of the content was focused on demonizing the legislation. EFCA will "inhibit flexibility," "hamper companies from competing effectively," and prove "cumbersome" for business, declared Spencer. "From the Chamber's perspective, and I would say probably from the whole business communities perspective, there are really no amendments you could make to this bill that would make it acceptable."
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The lines of attack from the Chamber official were familiar. But Citigroup's participation, led by retail analyst Deborah Weinswig, raised some eyebrows. The bank has received ample taxpayer-funded aid through the TARP program, leading some to question whether rallying support for an anti-union effort was the best use of its time or that money.
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"Everyone should recognize that when we are talking about Citigroup here, the emperor has no clothes," said Dan Pedrotty, director of the Office of Investment at the AFL-CIO. "You have a company surviving on taxpayer largess weighing in against workers who want to improve their lives.""
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Story by Sam Stein, March 12, 2009
see entire story here:
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My response to Citigroup this morning:
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"I am deeply troubled by your efforts to derail the Employee Free choice Act. Last year Citigroup settled the last lawsuit surrounding Enron, then you feign financial trouble with your company; next you're taking bailout money, and now I find out you are engaged in conference calls with a host of people telling them about so-called evils of EFCA.
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I'm ashamed of you people. Something tells me that you guys are behind the whole economic crisis. Trying to reset wages and ward off unionizing.
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I will do everything in my power to spread the word about you people. I am outraged.
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Sunday, February 1, 2009

THE LABOR MOVEMENT IS ALIVE AND WELL AND GROWING -WATCH OUT MR. STEELE!

The Labor Movement is alive and well and growing all over the world; and they (the people, the worker) have been left out of any dialogue or discussion in the restructuring of the economies of their countries. This does not bode well.
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Again, the Labor Movement is spreading.
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Do you think the Republican Party knows? They might not have known before the election; but I bet they do now.
They were absolutely stunned with the election of a Democrat named Barack Obama.

I think it even scared Bill Clinton, champion of corporate globalization (although maybe he’s not so much for it now – don’t know).

The election of Barack Obama definitely horrified the Republican Party, the Party of the “exploitation of the worker” for the benefit of corporate management and the 2% of the population that control a majority of the wealth.

Man, I don’t believe it, but I’m starting to sound like a card carrying member of a labor union.
Look, the corporations have screwed the worker; they’ve been doing it for a long time. It’s gotten so bad that the workers, the little people around the world, are forming labor unions.

I was doing a little research about the differences between Democrats and Republicans (see previous post) when I came upon article after article talking about the growth in labor unions around the world. The Internet has definitely helped their movement. They’re growing across the globe and they’re really fed up with corporate globalization (of which the Republican Party are defenders).

I was shocked to discover that labor unions were growing rapidly in Iraq, Germany, France, China, Egypt, throughout South America, etc.

The corporations have intertwined themselves in the economies of so many countries, that when one of these companies fall, they can cause great damage to the economies of that country and affect the lives of millions of people (most of them lower and middle income people) – the “working class”.

Corporations have controlled or tried to influence foreign policy for a long time; problem is they need someone to help push their agenda. The perfect Party in the United States… the Republican Party, in Britain the Torys, etc. etc. ATT last year was the Republican Party’s biggest contributor. Yes, ATT the ones who are listening to your conversations over the phone, and monitoring your
email, etc
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http://www.opensecrets.org/orgs/index.php
http://en.wikipedia.org/wiki/NSA_warrantless_surveillance_controversy

There is a growing resentment towards big business and global corporations whose agenda is to make a lot of money for management and their major stockholders (those who own the majority block of shares) who control the majority of the wealth, but only represent 2% of the population. It’s corporate management’s job to pay you as little wage as they can get away with.

That’s why they seek to plop themselves in countries where the people have literally no real power.
They consistently vote for Republican Party candidates; Republican Party -defenders of their way of life.

So the backlash and unrest you see all over the world is that growing resentment towards these companies and their agenda.

The American worker (the low and middle income blue collar and white collar worker) wasn’t totally aware of it when they voted for “CHANGE”; but, they were really voting for the labor movement.

Look, when you lose your job or see your paycheck shrink who do you blame? When you lose your home, your pensions, your health care (or have no health care) who do you blame? When you can’t afford to send your child to college or trade school to be educated to get/compete for a job or be a self-employed professional whatever (so they can earn a good wage or salary), who do you blame?


The election of Michael Steele (RNC chairman) is no accident? The more moderate members of the Party who wanted to re-energize the party and take back the power from Democrats thought an African American could weaken Barack Obama’s power (the power of the “working class”); however, the person chosen must be a champion of corporate globalization. Well, Michael Steele is definitely a champion of big business and corporate globalization. Read his biography on Wikipedia.

Yes, the Republican Party is scared that their Party is weakened and that means big business is weakened, that the people who control the corporations and the majority stockholders are weakened; but guys, they no longer control the government. The “Working Class” (blue and white collar labor) and a few upper class moderate Republicans made the decision to embrace the people’s movement (the labor movement).

The Huffington Post captured a conversation by some bailout recipients talking about how they were going to defeat labor bill.

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http://www.huffingtonpost.com/


President Obama’s pick of Treasury Secretary is a little scary. His friends are those guys who have 40% to 50% of the wealth, but only represent 2% of the population. Heck, Geithner's replacement came from Goldman Sachs

Now their argument for having that 40% to 50% is that they work harder or have sacrificed or gotten advanced degrees. I’m not going to take that away from them although I’m going to challenge them on the “work harder”; and, shouldn’t you be pursuing a career not because of the money, but because it is your passion?

Well, we can debate that later. What is important is that the “Working Class/Middle Classdrives this country. When you erode it, you cause governments to topple and economies to go to hellso who is really worth more, and who is more important, and who should possess more of the wealth?

Here I go sounding like a “Socialist”; however, Abraham Lincoln (who the President admires) at his Gettysburg address said these radical words: “Government of the people, by the people, for the people, shall not perish from the earth.”
http://showcase.netins.net/web/creative/lincoln/speeches/gettysburg.htm
Gettysburg address/Abraham Lincoln

Why wouldn’t the Republican Party (again, defenders of big business –corporate globalization) want to make government smaller? It’s in their best interest.

I think the reason I didn’t want Geithner having an input into how the TARP money should be used is that his buddies are those very people who seek to exploit labor. Can you really trust him with our “TARP” money? Hell no.
"Working Class" people (and all people), those people who have lost their jobs especially, stop killing your neighbors, friends, family and stealing from them. Instead, organize a non-violent labor movement.


My suggestion to us/the government: (you’ve got to do this quickly or Geithner is going to draft a plan fast to make sure his buddies keep their 40% to 50%+ of the wealth).

1. Demand that that TARP money is given to the workers who would then buy the company or have a controlling interest in it.

2. After the workers get control of the money, the workers would form their own business structure; and they hire managers from within their own ranks, or if they hired outside their company, all workers would have a choice in the pick and determine his/her salary.


3. Whatever decisions that are made, should be to benefit the worker.

I really need help here people. Post your comments and call your representatives and the President.
By the way, the "Working Class" loves business, just not the businesses I described.

Friday, December 19, 2008

The Magnitude of Corruption is Mind Blowing!

I find it interesting that Citigroup and other financial institutions, got bailed out by their buddy Paulson (who worked for Goldman Sachs for 15 years and whose 5 yr compensation w GS was over $45Mil and his current net worth over $700Mil).

Wonder why those financial institutions got bailed out?

Remember the Enron scandal? About 11 institutions were sued.

Among those sued: JPMorgan Chase, Goldman Sachs, and Citigroup who were the last to settle this year and Alliance Capital Mgmt.

There are even more scandals, lawsuits and SEC fines involving these financial institutions. AIG will probably be uncovered as a scandal that is bigger than Citigroup.

Now get this … a lot of these institutions have turned themselves into bank holding companies that benefit from the bailout; and, JPMorgan Chase (the biggest bank holding company and whose current CEO, Jamie Dimon [who was a key executive and supposed CEO heir to Citigroup before his falling out with Sandy Weill]), is buying up failed financial institution’s assets.

So it would seem to me that the American taxpayer, the honest shareholder’s of Enron stock [and shareholders of other failed company stock] and the honest employees who lost their pensions in the Enron scam, bailed out a bunch of companies that were involved in the fall of Enron; and bailed out organizations involved in other scandals.

Corruption is everywhere … from state Governors, Congress, the Senate, the President, domestic and international financial institutions, attorneys, accountants, etc., etc.

That’s why nothing is ever resolved regarding Wall Street or anything for that matter. Most Americans know that this corruption exists, but feel powerless to do anything about it. You President-elect have to chip away at this mess. Good luck.


See:
LAST MAN STANDING .. When a Banking Feud Got Physical by Duff McDonald, Sept. 18, 2009 [Sandy Weill, Jamie Dimon, John Reed]

http://www.socialismtoday.org/63/enron.html

http://www.wsws.org/articles/2003/aug2003/enrn-a05.shtml

http://www.lawyershop.com/practice-areas/criminal-law/white-collar-crimes/securities-fraud/lawsuits/enron

http://www.signonsandiego.com/uniontrib/20040711/news_lz1e11fields.html

http://www.lawyershop.com/practice-areas/criminal-law/white-collar-crimes/securities-fraud/lawsuits/jp-morgan/