NPR Erases Domestic Terrorism
National Public Radio (NPR) broadcast a story on May 9 by Dina Temple-Raston titled Terrorism in the U.S. Takes on a U.K. Pattern that started out with the following flawed premise:
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A Victory for the People!
Today a right-left coalition scored a victory for the American people when Senators voted 96-0 to audit the Federal Reserve.
The Center for Media and Democracy’s Wall Street Bailout Tally shows that since 2008, the U.S. government has flooded Wall Street banks and financial institutions with $4.7 trillion dollars in taxpayer money, mostly in the form of loans from the Federal Reserve. The Fed has never told us which firms got these loans and what type of collateral American taxpayers got in return. This will now be revealed. We will also get an accounting of the Fed’s “stealth” bailout of Fannie Mae and Freddie Mac.
It is important to note that in November 2008, Bloomberg News submitted a Freedom of Information Act request for the most basic of bailout information, but the Fed stalled forcing Bloomberg into court. Two sets of judges have ordered the Fed to turn over the information, but the Fed keeps stonewalling, appealing the case again last week. The Senate bill now forces the Fed to turn over this critical information. Independent Senator Bernie Sanders of Vermont pulled together a right-left coalition that got the job done.
Dylan Ratigan Coins the Phrase "Bankster Party"
Dylan Ratigan (MSNBC) is the host of the only honest business show on cable. He doesn't spend his day talking only about the ups and the downs of the stock market and encouraging people to "buy, buy, buy!" Instead, Ratigan covers real issues, like how the financial crisis is affecting average Americans, and what the chances are for real reform in Congress.
This week Ratigan went ballistic after the Brown-Kaufman amendment to cap the size of the biggest banks was voted down in the Senate. He created a new term for those who voted against it: the "Bankster Party." In the process, he gave us a target list of Senators who need to be convinced of the need for meaningful structural reform of the banking system. Ratigan's site currently links to BanksterUSA and also CMD's Total Wall Street Bailout Cost table.
Below are excerpts from his great article on Huffington Post. You can also check out the video by clicking here.
Is Your Senator a Bankster?
by Dylan Ratigan
What we have now is a group of politicians with shifting alliances on a case-by-case basis to the special interests who fund them. And currently, the most damaging one to our nation is the rise of the Bankster Party. Thankfully, we can now better identify its members.
What If BP Were a Human Being?
(Publisher's Note: The Center for Media and Democracy is strongly supporting efforts to redress the Supreme Court's terrible decision in the Citizens United case through laying the foundation to amend the U.S. Constitution. We will be sending out an update of CMD's work in coalition efforts on this critical issue later this month. In the meantime, we have obtained permission to re-print this provocative editorial commentary on Corporate rights and British Petroleum's role in the devastating oil disaster in the Gulf of Mexico, by fellow amendment proponent Bruce Dixon. -- Lisa Graves, Executive Director of the Center for Media and Democracy)
What If BP Was A Human Being?
By BAR managing editor Bruce A. Dixon
The third largest oil company in the world, BP was born in 1909 as the Anglo-Persian Oil Company, and was partly owned by the British government. Its headquarters offices are in the UK.. So if it were a flesh and blood person, it would be far and away the wealthiest person on earth, and a nominal British subject. Assuming that our imaginary human BP got into the oil business at the youthful age of say, 20, and stayed at it for just over a century, BP the human being would be closing in on his 121st birthday. Damned few of us will see triple digits, and none of us that reach even our 60s and 70s retain the level of energy, or often of interest that we possessed only a couple decades before. A normal 120 year-old human will have more than a few ailments and bodily systems on the brink of failure. But not our human BP. If BP were a person, it would be immensely, almost inconceivably wealthy AND perhaps immortal.
An Insider's View of the Spin about Elena Kagan, President Obama's Supreme Court Choice
Elena KaganAs soon as I heard that Elena Kagan was President Obama's choice for the Supreme Court's latest open seat, I knew the first criticism of opponents would be that she "lacked judicial experience." That does not make her unqualified for this role, given her exceptionally distinguished career as a lawyer and policymaker. It does, however, reveal the deeply disingenuous games Republicans are playing with the U.S. judicial system. I want to tell you how that is so, based on my prior experience as the lead attorney on the Justice Department Working Group on Judicial Nominations and as the former Chief Counsel for Nominations for the Senate Judiciary Committee.
SourceWatch Preserves History Unwritten by the Family Research Council
Dr. George Rekers of Family Research CouncilRecently, SourceWatch helped preserve history when the Family Research Council (FRC) deleted one of its co-founders from its website after he was caught in an embarrassing scandal. The FRC was co-founded by James Dobson and George Rekers, and the organization attempts to inject what it considers to be evangelical Christian values into the public debate. Most recently, as noted in SourceWatch, the FRC held a "prayercast" against health insurance reform in which Dobson publicly prayed that his savior would "frustrate the plans of the Evil One and revive us again with conviction and forgiveness,” referring to the President of the United States, Barack Obama.
It’s Time for the Big Banks to Spin Off their Craps Tables
Last week's "flash crash," which sent stocks plummeting 1,000 points in an afternoon, was just the latest indicator that the U.S. financial system is still spinning out of control and desperately in need of new rules.
Wagering On Angelina Jolie
When I visit London, I can drop into a corner kiosk and bet on anything I want. I can put down a million dollars on whether or not Angelina Jolie's next baby will be a boy or a girl, but these bets are regulated for what they are -- gambling. In America, the big banks can spend billions in a far more destructive type of speculation, but this speculation in the so-called "swaps" or derivatives market is completely unregulated.
New York Times Nails the Big Financial Reform Issues
A lead editorial by the New York Times on May 5, 2010 parallels arguments made by the Center for Media and Democracy's "Real Economy Project" and publishers of BanksterUSA on the necessity of shrinking the "Too Big to Fail" firms and cracking down on the gambling in the derivatives market. True leadership in the aftermath of Wall Street's reckless disregard for our country's economic future requires tough reforms, not watered-down compromises in the name of "bipartisanship." With all the misinformation out there about who is really on the side of the American people and who is in the pocket of the Big Banks, now is the time for clarity, not for the sake of political expediency, but because the flawed de-regulation and market-knows-best policies of the recent past must be put in check for the health of our economic opportunities and for our nation's future prosperity.
Critical Week for Financial Reform!
The financial reform bill is now on the Senate floor. The bad news is that Senate leadership has not yet decided if critical amendments will see a vote. For instance, Senators Sherrod Brown (D-Ohio) and Ted Kaufman (D-Delaware) have not been assured of a vote on their amendment to cap the size of "too big to fail" banks. Is this a democracy or a dictatorship? Senators should be allowed a debate on their measures followed by a vote. Send a message to Congress at BanksterUSA.org. Also Senator Bernie Sanders (I-Vermont) has not yet seen a vote yet on his simple amendment to audit the Federal Reserve. If you have not taken action yet, send a letter to the Senate by clicking here.
50th Anniversary of The Pill: Triumph and Controversy
In May of this year, the oral contraceptive known as "The Pill" turns 50 years old, and on this anniversary it is worth reflecting on the Pill's impact, and the obstacles women have faced in obtaining and using it.