Submitted by Anne Landman on
Last September, when President Barack Obama gave a major speech on Wall Street urging bankers to support financial reform, the CEOs of the nation's megabanks didn't bother to show up -- a move widely interpreted as a sign of disrespect.
On the day that Punxsutawney Phil emerged to predict a long hard winter, Americans picked up the newspaper to read that AIG, the bankrupt insurance giant, was going to pay out $100 million in bonuses to its failed financial products division. Kenneth Feinberg, President Obama’s pay czar, announced that these were “grandfathered” retention payments and that the unit had taken a $20 million dollar reduction in bonuses.
Like Bill Murray in the classic film Groundhog Day, we are being forced to live this day over again.
The Center for Media and Democracy and BanksterUSA are pleased to present our Golden Throne Award to T. Timothy Ryan Jr., President and Chief Executive Officer of the Securities Industries and Financial Markets Association (SIFMA). SIFMA is the leading behind-the-scenes lobby group representing big banks and investment firms, as well as broker-dealers and other peddlers of financial instruments, which Warren Buffett labeled "weapons of mass destruction." SIFMA lobbies Congress and financial regulators, and handles securities-related press for some of the biggest players in the financial crisis--Goldman Sachs, Bank of America, AIG, Merrill Lynch, Citigroup, and Fidelity Investments.
Submitted by Mary Bottari on
Republicans are on the defensive. As we enter the 2010 election cycle, Republicans are a bit worried that Americans might remember how their maniacal push to deregulate Wall Street resulted in the collapse of the global economy on their watch. They need a new message to appeal to hard-hit voters. To the rescue comes renowned Republican strategist and spinmeister Frank Luntz.
Davos is a small resort town in Switzerland best known for hosting the World Economic Forum (WEF), an annual meeting of global political and business elites. Every year the biggest boosters of the "neoliberal" economic policy agenda of deregulation, unfettered global trade and strict International Monetary Fund (IMF) rules for poor countries, convene at Davos to pat each other on the back.
Now that these policies have almost brought the world to ruin, one would expect these global titans to be self-reflective and perhaps even apologetic. Mostly they were absent.
Submitted by Anne Landman on
A Republican campaign attorney who agrees with the CU decision says he believes it threatens the political parties with extinction.The Supreme Court 's recent decision in the Citizens United (CU) case -- which allows
Submitted by Anne Landman on
In his State of the Union address this week, President Obama urged members of Congress to be more transparent about their interactions with lobbyists. Yet this same week, members of the House Republican Caucus will attend a retreat sponsored by the non-profit Congressional Institute, where they will mingle privately with lobbyists.
Submitted by John Stauber on
Wal-Mart creates front groups such as Working Families for Wal-Mart and also hires hidden public relations operatives to create the appearance of grassroots support.
Opposition has been mounting to the reconfirmation of Ben Bernanke as Federal Reserve Chairman. In recent days, Senators Barbara Boxer (D-CA) and Russ Feingold (D-WI) and John McCain (R-AZ) announced that they would vote no. Today, Senator Tom Harkin told the DesMoines Register he would be a no vote. If Bernanke does not get a vote this week, before the formal end of his first term, it would send shock waves through Wall Street.
Although he was named Time magazine's "Man of the Year" due to his handling of the financial crisis, Boxer and Feingold reprise a bit of forgotten history. “Dr. Bernanke played a lead role in crafting the Bush administration’s economic policies, which led to the current economic crisis. Our next Federal Reserve chairman must represent a clean break from the failed policies of the past,” said Boxer.
Submitted by Anne Landman on
James Hoggan, the director of the James Hoggan & Associates public relations firm, has authored a book titled Climate Cover Up: The Crusade to Deny Global Warming, in which he describes PR techniques that industry groups use to create the impressi
Center for Media and Democracy (CMD)
520 University Ave, Ste 305 • Madison, WI 53703 • (608) 260-9713
CMD is a 501(c)(3) tax-exempt non-profit.
© 1993-2024