Emails implicate Treasury Secretary Geithner in cover-up of AIG deal to bail out the banks by Barry Grey

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by Barry Grey
http://www.wsws.org
12 January 2010

A financial scandal has erupted that implicates Treasury Secretary Timothy Geithner in efforts to conceal the funneling of $62 billion in taxpayer funds to 16 large banks as part of the government bailout of the insurance giant American International Group AIG.

The revelations coincide with the imminent announcement by the big US banks of their profits and year-end bonuses for 2009. Most of the major banks are expected to report huge profits—in the case of Goldman Sachs, its highest profits ever—and combined bonuses of $30 billion or more.

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Disturbing questions in thwarted US plane bombing + The Yemen War

https://dandelionsalad.wordpress.com/

By Barry Grey
http://www.wsws.org
28 December 2009 Continue reading

Two days of US drone attacks kill nearly 80 in Pakistan

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Dandelion Salad

By Barry Grey
http://www.wsws.org
9 July 2009

The United States fired multiple missiles from pilotless drones on Wednesday in two separate attacks on insurgents in Pakistan’s South Waziristan district, killing up to 60 people. The attacks followed a US missile strike in South Waziristan on Tuesday that reportedly killed 16 people.

[…]

via Two days of US drone attacks kill nearly 80 in Pakistan

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US Drone Strikes Kill at Least 60 in South Waziristan

by Jason Ditz
Antiwar.com
July 08, 2009

Twin Strikes Today Bring Total to Four Strikes, Nearly 100 Killed in Less than a Week

US Predator drones launched a pair of missile attacks at two targets in South Waziristan today, killing at least 60 and wounding an unknown number of others. The attacks are the second and third in less than 24 hours, and the fourth in less than a week.

[…]

via US Drone Strikes Kill at Least 60 in South Waziristan — News from Antiwar.com.

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The Honduran coup: another US destabilization operation

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Dandelion Salad

By Barry Grey and Rafael Azul
http://www.wsws.org
30 June 2009

While publicly opposing the military coup that ousted Honduran President Manuel Zelaya on Sunday, the Obama administration on Monday indicated that it will not cut off aid to the Central American country or demand Zelaya’s reinstatement.

Following a White House meeting with Washington’s closest Latin American ally, Colombian President Alvaro Uribe, President Obama reiterated the position that the ouster of Zelaya was illegal. However, Secretary of State Hillary Clinton told reporters at a State Department briefing that the US government was refraining from formally declaring the removal of Zelaya a “coup.”

Under the Foreign Assistance Act, no US aid can be given to a country whose elected head of government is removed by a military coup. The US is providing Honduras with $43 million in aid this year and maintains a major military presence in the country, including a base staffed by 600 US troops located 50 miles from the capital, Tegucigalpa. The US has also refrained from recalling its ambassador to Honduras.

[…]

via The Honduran coup: another US destabilization operation

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Honduras-The CIA Never Quits by Gary Sudborough

Coup in Honduras: Military Ousts President Manuel Zelaya, Supporters Defy Curfew and Take to the Streets

Honduras: Indigenous people condemn plot

North American Imperialism and the Extreme Right are Behind Coup in Honduras: Chavez

Obama administration seeks to quash suit by 9/11 families By Barry Grey

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By Barry Grey
http://www.wsws.org
26 June 2009

The Obama administration has intervened to quash a civil suit filed against Saudi Arabia by survivors and family members of victims of the September 11, 2001 terrorist attacks. The suit seeks to hold the Saudi royal family liable, charging that it provided financial and other support to Al Qaeda and was thereby complicit in the hijack bombings that killed nearly 3,000 people in New York and Washington DC.

According to an article by Eric Lichtblau in the June 24 New York Times, documents assembled by lawyers for the 9/11 families “provide new evidence of extensive financial support for Al Qaeda and other extremist groups by members of the Saudi royal family.” However, the article states, the documents may never find their way into court because of legal challenges by Saudi Arabia, which are being supported by the US Justice Department.

[…]

via Obama administration seeks to quash suit by 9/11 families

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Saudi royals funded 9/11: Lawyers

PressTV
Wed, 24 Jun 2009 17:30:47

Lawyers representing the families of the 9/11 victims, expose evidence allegedly proving the Saudi royal family’s financial support for al-Qaeda.

The lawyers provided The New York Times with excerpts of the material they had amassed by putting together the pieces from leaking American intelligence documents among other things, the daily reported on Tuesday.

The evidence, originally presented in hundreds of thousands of pages, recount how the Saudi royalty would use middlemen and financial supply routes to bankroll militants based in Afghanistan and Bosnia.

[…]

via Saudi royals funded 9/11: Lawyers

h/t: CLG

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9/11 on Dandelion Salad

Obama’s bank regulation plan: A free pass for Wall Street by Barry Grey

Dandelion Salad

by Barry Grey
http://www.wsws.org
18 June 2009

President Barack Obama on Wednesday announced what he called “a sweeping overhaul of the financial regulatory system, a transformation on a scale not seen since the reforms that followed the Great Depression.”

The reality behind the rhetoric was indicated by the reaction on Wall Street. The stock market responded with a shrug, with the Dow and the S&P 500 finishing slightly down and the Nasdaq ending with a modest gain. Had there been anything in the proposals outlined by Obama that suggested a serious crackdown on the fraudulent practices that precipitated the present crisis, one can be certain the market would have reacted with a massive selloff.

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US Fed Chairman demands plan to cut social programs

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By Barry Grey
http://www.wsws.org
4 June 2009

Testifying Wednesday before the Budget Committee of the House of Representatives, Federal Reserve Board Chairman Ben Bernanke demanded that Congress and the Obama administration map out a program of austerity measures to bring down record budget deficits. Bernanke made clear that the heart of this program should be sharp cuts in social spending, including basic entitlement programs such as Social Security and Medicare.

“Maintaining the confidence of the financial markets,” Bernanke said in prepared remarks to the committee, “requires that we, as a nation, begin planning now for the restoration of fiscal balance.”

The phrase “confidence of the financial markets” is a euphemism for the interests of Wall Street and major international banks and investors. In demanding the preparation of austerity measures to be imposed on the American people, Bernanke was speaking in behalf of the financial elite whose massive taxpayer subsidies have been the major cause of the explosive growth over the past year of the federal deficit and the US national debt.

p…[

via US Fed Chairman demands plan to cut social programs

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Credit crunch: time to treat employees like trash by Roland Michel Tremblay

If You Are Stressed Now, Just Wait By Paul Craig Roberts

Bond Market Blowout By Mike Whitney

The Economy Sucks and or Collapse 2

US Federal Reserve announces massive increase in government debt + US prints more money

Dandelion Salad

By Barry Grey
http://www.wsws.org
20 March 2009

The US Federal Reserve Board on Wednesday announced that it will massively expand its moves to pump liquidity into near-frozen credit markets, including a highly unusual plan to purchase up to $300 billion in longer-term Treasury securities over the next six months.

The plan also includes an additional $750 billion in Fed purchases of mortgage-backed securities guaranteed by the federally owned mortgage finance companies Fannie Mae and Freddie Mac and an additional $100 billion in Fed purchases of Fannie Mae and Freddie Mac debt. These measures came as a surprise to global financial markets and triggered a simultaneous rush to buy Treasury bonds and a sharp sell-off of US dollars on world currency markets.

[…]

via US Federal Reserve announces massive increase in government debt

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US prints more money to fight recession – 20 Mar 09

AlJazeeraEnglish

The US central bank is resorting to a tool of last resort in its battle to fight the economic crisis: printing money more than $1 trillion.

Al Jazeera’s Nick Spicer explains how this move could affect the economy.

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As Economy Reels, Tariq Ali Calls for “Reimagining Socialism”

Was the Bailout Itself a Scam? By Paul Craig Roberts

Restoring our Financial Sovereignty: A New Monetary System by Nikki Alexander

The Economy Sucks and or Collapse 2

Federal Reserve on Dandelion Salad

Obama expands US military intervention in Pakistan

Dandelion Salad

By Barry Grey
http://www.wsws.org
23 February 2009

The Obama administration is significantly expanding the US military role in Pakistan beyond that pursued by the Bush administration, directly employing US military force against anti-government Pakistani guerrillas involved only marginally, if at all, in attacks on US forces in neighboring Afghanistan, according to a recent article in the New York Times.

The article, entitled “Obama Expands Missile Strikes Inside Pakistan” and authored by Mark Mazzetti and White House correspondent David E. Sanger, cites two separate missile strikes inside Pakistan carried out February 14 and February 16 as evidence that “the Obama administration has expanded the covert war run by the Central Intelligence Agency inside Pakistan, attacking a militant network seeking to topple the Pakistani government.”

via Obama expands US military intervention in Pakistan

FAIR USE NOTICE: This blog may contain copyrighted material. Such material is made available for educational purposes, to advance understanding of human rights, democracy, scientific, moral, ethical, and social justice issues, etc. This constitutes a ‘fair use’ of any such copyrighted material as provided for in Title 17 U.S.C. section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. If you wish to use copyrighted material from this site for purposes of your own that go beyond ‘fair use’, you must obtain permission from the copyright owner.

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Google exposes US airbase in Pakistan used to launch drones + Exposed: Secret CIA Base For Drone Raids

Two US missile strikes in Pakistan in three days kill more than 60

Destabilizing Pakistan, America Plays with Fire by Tom Burghardt

President Obama: Afghanistan IS Still Winnable

Propaganda Alert

Dandelion Salad

VOTERSTHINKdotORG

http://cspanjunkie.org/

February 17, 2009 CBC The National

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Obama set to launch military “surge” in Afghanistan

Dandelion Salad

By Barry Grey
http://www.wsws.org
5 February 2009

President Barack Obama is set to formally authorize the dispatch of 10,000 to 12,000 additional US combat troops to Afghanistan, the beginning stage of a military “surge” that will likely add 30,000 more soldiers and Marines over the next 12 to 18 months, doubling the US occupation force to 60,000. Obama’s announcement of the initial compliment of three combat brigades, to begin deploying in April, could come this week.

The first stage of the escalation is bound up with a strategic overhaul of US policy in the region that will initiate a vast expansion of military violence and increase the focus on exterminating the popular resistance to the neocolonial occupation of Afghanistan, both in Afghanistan and the neighboring regions of Pakistan.

[…]

Some sense of what is to come can be seen in the proposal made last month by NATO’s senior military commander, Gen. John Craddock of the United States, that NATO troops shoot alleged drug traffickers without waiting for proof of any involvement with the Taliban or other insurgent forces. In a country whose main crop is opium, upon which large sections of the impoverished population depend for survival, this would amount to a license to kill Afghan civilians at will. The proposal was made in a confidential letter to Gen. Egon Ramms, a German officer who heads the NATO command center responsible for Afghanistan, and came under heavy criticism from German political circles. It was eventually scuttled by McKiernan and others, according to an exposé published last month by the online edition of Der Spiegel magazine.

[…]

via Obama set to launch military “surge” in Afghanistan.

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Change (in rhetoric) we can believe in, by William Blum

Obama More Deadly for Afghan Civilians than Bush (in Jan 2009)

Nests In Hell, by Rand Clifford

Child killed by Israeli tank fire in Gaza + US blocks cease-fire, gives Israel carte blanche to continue killing

Dandelion Salad

AFP
1.3.09

A Palestinian child was killed by Israeli tank fire in the Gaza Strip late Saturday, becoming the first victim of a ground offensive against the Hamas stronghold, medics said.

[…]

via Child killed by Israeli tank fire in Gaza.

h/t: ICH

***

US blocks cease-fire, gives Israel carte blanche to continue killing in Gaza

By Barry Grey
http://www.wsws.org
3 January 2009

As the Israeli devastation of Gaza enters its second week and signs point to an imminent ground invasion of the densely populated and impoverished Palestinian territory, the US government is working to block diplomatic initiatives for a cease-fire in order to give Israel a free hand to intensify its assault on the defenseless population.

While Israeli planes, warships and missiles continued to level civilian buildings, mosques and homes, and thousands of Israeli troops with tanks, artillery and armored vehicles awaited the order to enter the Palestinian enclave, US Secretary of State Condoleezza Rice appeared outside the White House Friday morning following a briefing on the Gaza crisis with President George W. Bush. In a terse statement, Rice once again placed the blame for the Israeli aggression on Hamas and underscored Washington’s support for Israel’s rejection of cease-fire proposals from France, the European Union and a number of Arab governments.

[…]

via US blocks cease-fire, gives Israel carte blanche to continue killing in Gaza.

see

Israel’s politics spill into Gaza

Israel sends troops into Gaza, raising stakes in Hamas fight

A week of Israel’s war on Gaza + Israeli bombardment of Gaza enters second week

Israel defies peacemakers and prepares for invasion

Rabbi Feldman: Zionism is “Illegitimate Political Movement” + Ibrahim Ramey

Israel-Palestine-Gaza-Occupation

Press reports document criminality of US financial elite

Dandelion Salad

by Tom Eley and Barry Grey
http://www.wsws.org
24 December 2008

Fallout from the Madoff scandal continues to batter investors, banks and private charities in the US, Europe and Japan. The massive fraud carried out by a prominent Wall Street insider, Bernard Madoff, the former head of the Nasdaq stock exchange, has exposed clients to as much as $50 billion in losses.

Recent press reports make clear that the Madoff affair is not an aberration. It is indicative of pervasive fraud and criminality in the highest echelons of the financial establishment, aided and abetted by government regulatory agencies.

On Monday, Truthout, an independent internet news service, published an interview with former Securities and Exchange Commission (SEC) investigative attorney Gary Aguirre. The SEC is the federal regulatory agency tasked with enforcing securities law and regulating stock exchanges and the securities industry.

[…]

via Press reports document criminality of US financial elite.

FAIR USE NOTICE: This blog may contain copyrighted material. Such material is made available for educational purposes, to advance understanding of human rights, democracy, scientific, moral, ethical, and social justice issues, etc. This constitutes a ‘fair use’ of any such copyrighted material as provided for in Title 17 U.S.C. section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. If you wish to use copyrighted material from this site for purposes of your own that go beyond ‘fair use’, you must obtain permission from the copyright owner.

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SEC Whistleblower Speaks on Madoff Fraud

The Madoff Scandal

Wealth Creation, or a Ponzi Scheme? by Michael Hudson

The Economy Sucks and or Collapse 2

Reflections on class and race in America by Barry Grey

Dandelion Salad

by Barry Grey
http://www.wsws.org
7 November 2008

A historical milestone?

It is striking that the American media, beginning on election night and continuing in the aftermath of the vote, has been virtually unanimous in interpreting the victory of Barack Obama entirely in racial terms. This trend is epitomized in the treatment of the Democratic sweep by the New York Times, the most prominent organ of the American liberal establishment, which ran a banner headline on Wednesday declaring, “Obama: Racial Barrier Falls in Decisive Victory.”

Even by elementary journalistic standards, this headline is remarkable for its lack of any pretense at objective reporting. This is not a news headline. It is not how a mainstream newspaper normally presents the outcome of a national election.

[…]

The Times, by contrast, chose to present Tuesday’s election entirely as a referendum on race—not a popular repudiation of the Bush administration and the right-wing politics of the Republican Party, not a repudiation of the wars in Iraq and Afghanistan, nor of three decades of social policy single-mindedly devoted to the further enrichment of the financial elite. This interpretation ignores the indisputable fact that the most decisive issue in the election was the economic crisis, which prompted tens of millions of working people and youth, of all races, to vote for Obama in the hope that his election would signal a reversal of previous economic policies.

[…]

This constant invocation of Obama’s skin color and personal background underscores the pervasive manner in which conventional political analysis in America operates within racial categories. But it also serves definite political aims. It facilitates an attempt to obscure the political issues that drove the election, including popular opposition to war. The fact that Obama initially established his credibility by running as the candidate who had opposed the war in Iraq is virtually ignored.

This, in turn, clears the way for a continuation of the right-wing economic and foreign policies that were repudiated by the electorate. That the president-elect is preparing just such a course is already clear from his decision to name as his chief of staff Congressman Rahm Emanuel, an early supporter of the Iraq war and key ally of Chicago real estate and financial interests, and reports that Obama will appoint at least two Republicans to his cabinet.

[…]

via Reflections on class and race in America

FAIR USE NOTICE: This blog may contain copyrighted material. Such material is made available for educational purposes, to advance understanding of human rights, democracy, scientific, moral, ethical, and social justice issues, etc. This constitutes a ‘fair use’ of any such copyrighted material as provided for in Title 17 U.S.C. section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. If you wish to use copyrighted material from this site for purposes of your own that go beyond ‘fair use’, you must obtain permission from the copyright owner.

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Bill Moyers Journal: Changing Times + Obama + Racism + Studs Terkel

Does a Leopard Change Its Spots? by William Bowles

Howard Zinn: Keep the Expectations High for Obama

Ali Abunimah: Obama picks pro-Israel hardliner for top post

The Economy Sucks and or Collapse

Obama-Barack

The “dirty little secret” of the US bank bailout by Barry Grey

Dandelion Salad

by Barry Grey
http://www.wsws.org
27 October 2008

In an unusually frank article published in Saturday’s New York Times, the newspaper’s economic columnist, Joe Nocera, reveals what he calls “the dirty little secret of the banking industry”–namely, that “it has no intention of using the [government bailout] money to make new loans.”

As Nocera explains, the plan announced October 13 by Treasury Secretary Henry Paulson to hand over $250 billion in taxpayer money to the biggest banks, in exchange for non-voting stock, was never really intended to get them to resume lending to businesses and consumers–the ostensible purpose of the bailout. Its essential aim was to engineer a rapid consolidation of the American banking system by subsidizing a wave of takeovers of smaller financial firms by the most powerful banks.

[…]

via The “dirty little secret” of the US bank bailout

FAIR USE NOTICE: This blog may contain copyrighted material. Such material is made available for educational purposes, to advance understanding of human rights, democracy, scientific, moral, ethical, and social justice issues, etc. This constitutes a ‘fair use’ of any such copyrighted material as provided for in Title 17 U.S.C. section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. If you wish to use copyrighted material from this site for purposes of your own that go beyond ‘fair use’, you must obtain permission from the copyright owner.

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Wall Street’s Trojan Horse by Michel Chossudovsky

Special Report: War or Peace? The World After the 2008 U.S. Presidential Election By Richard C. Cook

The Not-So-Invisible Hand: How The Plunge Protection Team Killed The Free Market by Ellen Brown

The Economy Sucks and or Collapse

McCain-John

Palin-Sarah

Obama-Barack