By Dave Lindorff

The most entertaining thing about this Wall Street crisis and the
refusal of the House of Representatives (not failure but refusal) to
pass a bailout bill negotiated by the Bush White House and the House
leadership is how shocked and upset those leaders and the pundit class
have been by the idea that members of Congress would actually heed the
wishes of their constituents!

The Founding Fathers always saw the lower house of Congress as
voice of the people—the elected body that, because its members had to
face the voters every two years, would be most responsive to public
sentiment.

By Dave Lindorff

What nobody in the corporate media is mentioning amid all the
blather about the $700-billion Paulson bailout proposal is the impact
it will have on the US dollar.

We are told that this huge gift to the financial sector—the
assumption, at top dollar, of all the bad debt they’ve piled up--will
be at taxpayer expense, but that’s only the half of it. (Really only
the quarter of it because since the US government is technically
bankrupt already, spending more than it takes in each year, all that
money will be borrowed, and will be added to the national debt, meaning
that just as the real cost of the $500-billion Iraq War is closer to $2
trillion, the real cost of the $700 billion bailout will be more like
$1.5-2.5 trillion.)

by Dave Lindorff

When the financial markets started coming undone earlier this week,
the Treasury Secretary and the Federal Reserve stepped in, and with $85
billion of our money (actually our children's money,
since they borrowed it from China and Saudi Arabia), bought foundering
AIG, the world's largest insurance company, and assumed its colossal
pile of crap debt.

That didn't help, and the stock market crashed further, falling to
levels not seen in three years. Banks, meanwhile, stopped lending,
figuring to just hold onto their money and try to weather the crash.
The US Treasury and the Fed stepped in again, this time pumping nearly
$300 billion more of our money into foreign money markets, and getting
European and other governments to do the same in an effort to get the
credit markets open again and to stop the stock market swoon. That was
on top of some $700 billion already spent on bailouts.

THE FOLLOWING ARTICLE APPEARED IN THE SAN DIEGO UNION TRIBUNE TODAY (7/2/08). THE AMERICAN PEOPLE MUST UNITE TO SHOW THE WORLD WE DID NOT SUPPORT OR APPROVE OF THE INJUSTICES OF THIS ADMINISTRATION AND THE CRIMES IT COMMITTED AGAINST IRAQ, THE CITIZENS OF THE UNITED STATES AND THE WORLD.  TO REGAIN OUR STATURE IN THE WORLD, WE MUST CHARGE BUSH AND CHENEY WITH WAR CRIMES BEFORE THE REST OF THE WORLD DOES IT FOR US.  CONTACT YOUR CONGRESSPERSONS TODAY!

By Dave Lindorff

With a viral campaign underway via email, right-wing radio, and on the street suggesting that Barack Obama is a black “Manchurian Candidate,” secretly trained as a Muslim fanatic who will insinuate himself into the White House, thence to undermine all that we hold dear, perhaps it is time to look at the Manchurian Candidate we already have in the White House, who, together with his handler over in Blair House, has pretty much done all the damage already.

George Bush came to office in 2001 promising a new era of integrity, civility and “compassionate conservatism,” an era of humble American foreign policy, and a bi-partisan approach to government.

What did we actually get?

By Dave Lindorff

The State Department’s top internal investigator, Inspector General Howard Krongard, revealed in a House Oversight and Government Reform Committee hearing Tuesday, that his brother, Alvin B. Krongard, was a member of the advisory board of Blackwater, the very private mercenary company whose bloody, murderous behavior the IG office was supposed to be investigating.

Unmentioned in reports on this tainted relationship was the fact that Alvin Krongard, the former third-ranking leader of the CIA from 2001-2004, has also been the subject of some speculation regarding possible foreknowledge of the 9-11 attacks by some within the intelligence establishment.

Destroying Right Wing Ideology

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&add...

"Our enemies are innovative and resourceful, and so are we. They never stop thinking about new ways to harm our country and our people, and neither do we." - George W Bush

Much in the same way that US investors were “steered” into rip-off mortgage loans, the entire country has been “steered” into an economic crisis. The question is how to get out of it.

In the subprime loan scandal, unscrupulous brokers conned home buyers with poor credit histories into deals designed to profit lenders and bleed borrowers. Contract “teasers” hid ballooning monthly payments while a lack of regulation allowed the scam to continue unabated. Millions more Americans now face losing their homes.

I’m not talking tennis either. The whirlwind of news swirling about is almost dizzying. Shortly after Katrina hit the Mississippi Gulf Coast and breached the New Orleans’ levees, rumors floated around implying that the insurance companies would rig their claims process to wiggle out of paying what was owed to Paula and Peter Policyholders.

I thought to myself how criminal and cruel, heartless and calculating the people running a corporation would have to be to actually pull off something like this.

I envisioned a set of companies passing back and forth among themselves responsibility for the Katrina claims. I had thought this would be a way to shift its costs to other companies depending on which of them had the flood insurance policies. I was unaware that the private insurance corporations had bailed out of the flood insurance business some forty years ago.

While I’ve been busy the last few weeks sanding baseboards and crown molding and painting ceilings for family members’ homes, Mississippi Deputy Insurance Commissioner David Lee Harrell was busy preparing for his deposition in one of the big insurance cases. The fee for his attorney? State Farm funded that.
Yes, you read that correctly.

State Farm is paying the attorney fee for the lawyer helping the Mississippi Deputy Insurance Commissioner prepare for his testimony under oath and representing him at the proceedings in one of the large lawsuits that Mississippi policy holders are bringing against . . . State Farm.