Sunday, June 17, 2012

Brick TeeVee and King Jamie's Court!

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King Jamie's Court No you silly Miami Heat fans, not King LeBron James! We're talking about Congress's Favorite Banker JPMC's Jamie Dimon! More on that in a bit. If you missed RoF last week with Academy Award nominated filmmaker Rachel Grady discussing the new film “Detropia” check out Detropia the movie! SYNOPSIS: Detroit's story has encapsulated the iconic narrative of America over the last century— the Great Migration of African Americans escaping Jim Crow; the rise of manufacturing and the middle class; the love affair with automobiles; the flowering of the American dream; and now . . . the collapse of the economy and the fading American mythos. With its vivid, painterly palette and haunting score, DETROPIA sculpts a dreamlike collage of a grand city teetering on the brink of dissolution. As houses are demolished by the thousands, automobile-company wages plummet, institutions crumble, and tourists gawk at the "charming decay," the film's vibrant, gutsy characters glow and erupt like flames from the ashes. These soulful pragmatists and stalwart philosophers strive to make ends meet and make sense of it all, refusing to abandon hope or resistance. Their grit and pluck embody the spirit of the Motor City as it struggles to survive postindustrial America and begins to envision a radically different future.
Last week we alluded to David Sirota's item The War on Whistle-Blowers and Sirota makes some excellent points. When a democracy functions properly, media revelations of executive branch misconduct typically result in an investigation by the legislative branch. Watergate epitomized this healthy dynamic—illegal acts exposed by the Washington Post prompted congressional hearings and ultimately prosecutions. In other words, checks and balances functioned properly, and the system both cleansed itself of wrongdoers and rejected the Nixonian notion that no matter what a president does, it is inherently legal. So when The New York Times this week ran the headline “Senate Will Investigate National Security Leaks About Terrorism ‘Kill List,’” it was a frightening sign that something has gone horribly wrong since the Woodward-and-Bernstein days. ..... the memo laying out this utterly preposterous legal theory is secret—and, of course, hasn’t been ratified by any court. In terms of size, scope and long-term effects, this program makes the Watergate scandal look altogether quaint. You would therefore think that at minimum, even the most flaccid, rubber-stamp Congress might ask a few questions about the president’s “kill list” and the dangerous precedents it sets. But evidently, you would be wrong. As the Times noted in that subsequent follow-up story, Congress is focused not on shutting down—or even overseeing—the assassination program. It is instead focused on making sure those who blew the whistle on it are punished. Why? Because that will ensure that other such unauthorized programs can continue. If you think that description of motive is overwrought hyperbole, think again. As Sen. John McCain (R) made clear, he wants revelations of illegal activity halted and possibly prosecuted specifically because “such disclosures can only undermine similar ongoing or future operations.” This, of course, is part of a broader campaign against those who are courageously exposing illegality. As former Foreign Service officer Peter Van Buren reports, the federal government is now targeting whistleblowers for recrimination, with “the number of cases (against whistleblowers) suggest(ing) an organized strategy to deprive Americans of knowledge of the more disreputable things that their government does.” That’s right—rather than celebrating the heroes who expose wrongdoing and then stopping the illegal acts, the government is shooting the messengers in order to let the crimes continue.
If you are an Obama partisan who insists the crackdown is appropriate because your favored politician is in power, take heed of the president’s own warning. As he said a few years ago, allowing any executive to ignore the Constitution is problematic because “you never know who is going to be president four years from now.” You also never know what other executive might make the same moves in your own hometown. After all, if a president is arguing that indictments, juries and trials aren’t necessary to execute someone, it’s not hard to imagine a governor or mayor arguing the same thing when locking people up. That’s why this war on whistleblowers is not just some theoretical problem only for academics to debate or for foreigners to worry about. It represents a genuine domestic threat to democracy itself. If through our silence and complacency we allow that threat to expand, we shouldn’t be surprised when more of us are in the government’s crosshairs.
Well said, David. Here are a few items of interest you should check out: And if you didn't tune into any of Brad Freidman guest hosting The Mike Malloy Show last week you missed discussions on AB 1648, California DISCLOSE Act, , and much more! To listen to the shows and read the chat logs see our BradCast updates below for links to the shows. Excellent! Thom Hartmann has Zaid Jilani on Thursday's RT show Money has Crushed the Voice of People Zaid Jilani, Republic Report, United Republic, joins Thom Hartmann. Former Gingrich campaign backer and billionaire casino mogul Sheldon Adelson is pledging unlimited donations to Mitt Romney's campaign. Is the American democracy dead when billionaires can funnel endless money into politics - and take away the voice of the people? David Cobb Barnstorming Tour for MoveToAmend! TODAY LAS VEGAS, NV: Move to Amend Barnstorming tour with David Cobb then COLUMBUS, OH: MTA spokesperson David Cobb at ComFest next Sunday, June 24, 2012 - 1:00pm then Toledo, OH on Monday and Battle Creek Mi on Wed! Next JimQ at Washington's Blog explains how IT ONLY TOOK A GLOBAL DEPRESSION TO REDUCE GAS PRICES BY 40 CENTS in which he uses very colorful language to describe U.S. Media (underlined for your convenience) You can’t watch the mainstream media propaganda channels for more than ten minutes without a talking head breathlessly announcing that gas prices have dropped for the 24th day in a row and are now back to $3.55 a gallon. Wall Street oil analysts, who are paid hundreds of thousands of dollars per year to tell us why prices rose or fell after the fact, are paraded on CNBC to proclaim the huge consumer windfall from the drop in price. This is just another episode of a never ending reality show, designed to keep the average American sedated so they’ll continue to spend money they don’t have buying crap they don’t need. The brainless twits that pass for journalists in the corporate mainstream media never give the viewer or reader any historical context to judge the true impact of the price increase or decrease. The government agencies promoting the storyline of those in power extrapolate the current trend and ignore the basic facts of supply, demand, price and peak oil. The EIA is now predicting further drops in prices. Two months ago they predicted steadily rising prices through the summer. What would we do without these government drones guiding us? [chart] As you can see from the chart, gas prices tend to be volatile and unpredictable in the short term. You can also see that since 1998 the trend has been relentlessly higher. The average inflation adjusted price of gasoline in 1998 was $1.41 per gallon, versus $3.55 today, a 152% increase in fourteen years. Over this same time frame the BLS manipulated CPI was up only 44%. If we are swimming in oil, as the MSM pundits claim, why the tremendous surge in price? It must be those evil oil companies. It couldn’t possibly be the impact of peak oil. To acknowledge the fact that worldwide oil production has reached its peak would be to concede that our suburban sprawl, just in time world is drawing to an excruciating end. So the politicians spout their assigned storylines, supported by their paid off “experts” (aka Daniel Yergin), and unquestioningly reported as fact by their designated corporate media outlet. Those of a liberal bent assail oil companies and speculators; refuse to acknowledge the law of supply and demand, while touting green energy as the solution to all our energy needs. Those of a conservative bent believe in attacking foreign countries to secure “our” oil, refuse to acknowledge the law of supply and demand, and spout “drill, drill, drill” slogans because dealing with facts is inconvenient. The willfully ignorant public believes whichever storyline matches their preconceived beliefs. All is well – no one is required to think critically. Thinking is hard. ...... The MSM blathering baboons of bullshit dutifully report the price of gas on a given day. People who live in the real world fill up their gas tanks every week, so the average price over a period of time is what matters. The average price of a gallon of gasoline in 2008 was $3.39. The average price in 2011 was $3.48. The average price in 2012 has been $3.62 thus far. This data paints an entirely different picture than the one painted by the politicians, experts and the clueless captured media. Gas prices are higher than they were prior to the last economic implosion. Cause and effect is a concept beyond the intellectual capabilities of MSM journalists and the millions of government educated zombies they mesmerize with misinformation. The lack of intellectual curiosity and critical thinking skills plays directly into the hands of those with a storyline to sell or truth to obscure. ..... "MSM blathering baboons of bullshit"! Priceless! Read on for more facts about oil prices and neat charts! THEN Omar R. Valdimarsson reports in Bloomberg Iceland Court Sentences Ex-Byr Savings Executives to Jail Byr Savings Bank former Chairman Jon Thorsteinn Jonsson and the lender’s ex-Chief Executive Officer Ragnar Zophonias Gudjonsson were today found guilty of fraud and sentenced to four and half years in prison by Iceland’s Supreme Court. The court found that the two former executives had used their positions at Byr to grant an 800-million kronur ($6.2 million) loan to Exeter Holdings ehf in 2008 as Iceland’s financial system was on the brink of collapse. Proceeds of the loan were used by Exeter to buy Jonsson’s and Gudjonsson’s shares in Byr. Exeter guaranteed the loan by putting the Byr shares up as collateral. “In deciding the punishment” the Supreme Court took account of the fact that the “magnitude of the offences was significant,” according to the ruling posted on the Reykjavik- based court’s website. Jonsson’s action “relieved him from personal guarantees on loans” and Gudjonsson’s “infraction was committed under the auspices of his mandate” as Byr’s chief executive officer, according to the ruling. Great to see some heads roll! The Big Wheels involved in Iceland's crash Hreidar Mar Sigurdsson, the Icelandic lender Kaupthing Bank’s former chief executive, and Sigurdur Einarsson, the former chairman, are also awaiting trial. Public Citizen's Global Trade Watch has Breaking News: TPP investment text leaked A leaked draft of one of the most controversial chapters of the TPP reveals extreme rights granted to foreign investors. See TPP: Corporate Power Tool of the 1% Have you heard? The Trans-Pacific Partnership (TPP) “free trade” agreement is a stealthy policy being pressed by corporate America, a dream of the 1 percent, that in one blow could:
  • offshore millions of American jobs,
  • free the banksters from oversight,
  • ban Buy America policies needed to create green jobs and rebuild our economy,
  • decrease access to medicine,
  • flood the U.S. with unsafe food and products,
  • and empower corporations to attack our environmental and health safeguards.
Closed-door talks are on-going between the U.S. and Australia, Brunei, Chile, New Zealand, Peru, Singapore, Malaysia and Vietnam; with countries like Japan and China potentially joining later. 600 corporate advisors have access to the text, while the public, Members of Congress, journalists, and civil society are excluded. And so far what we know about what's in there is very scary!
Read on and dig into the pdf's! Then At Salon Josh Eidelson adds Trans-Pacific Partnership: Larger than NAFTA? Leaked documents reveal disturbing truths about a trade deal Obama's negotiating that could grow bigger than NAFTA. Too much to snip! GO READ ALL OF IT! LEARN MORE and TAKE ACTION! Then watch The Big Picture on RT Obama Trade Document leaked... Melinda St. Louis, Public Citizen's Global Trade Watch joins Thom Hartmann. Time to ditch so-called Free Trade - and get back to protecting our domestic manufacturers like we used to do under every single President since George Washington - but have forgotten in the last thirty years. and catch LORI WALLACH of Public Citizen’s Global Trade Watch @ Democracy NOW! below. Yves Smith at chimes in Obama Plans to Put Foreign Companies Above the Law Zach Carter has a must-read new article up at Huffington Post on leaked documents from trade negotiations that have been posted at the website Public Citizen. You should read his entire article, pronto, but here is the money quote:
    The newly leaked document is one of the most controversial of the Trans-Pacific Partnership trade pact. It addresses a broad sweep of regulations governing international investment and reveals the Obama administration’s advocacy for policies that environmental activists, financial reform advocates and labor unions have long rejected for eroding key protections currently in domestic laws. Under the agreement currently being advocated by the Obama administration, American corporations would continue to be subject to domestic laws and regulations on the environment, banking and other issues. But foreign corporations operating within the U.S. would be permitted to appeal key American legal or regulatory rulings to an international tribunal. That international tribunal would be granted the power to overrule American law and impose trade sanctions on the United States for failing to abide by its rulings.
This is an active effort to undermine US laws and make certain US laws subordinate to non-US tribunal that sits outside any democratic process. President Obama took an oath to uphold the land. I’d like to throw this out to readers. As much as trade agreements (which were approved by Congress) have sometimes run into friction with existing laws, this move by Obama looks to be a far more radical effort to increase the power of multinational companies. And US companies would argue for, and likely eventually get, similar breaks, assuring a legal/regulatory race to the bottom (if you think what we have is bad now, do not underestimate how much worse it could get). Let’s set aside the fact that no current Congress will stand in the way of a pro-business measure. I’d like readers to tell me whether they think this initiative is an impeachable offense. Does this sort of effort to gut US laws rise to the level of “high crimes and misdemeanors“? Update: The use of the “I’ word has led some readers to argue (basically) “What are you talking about? This is just a negotiation.” True, but it is also revealing how little we expect of Congress and how much its standing has fallen. This idea should be so far outside the pale that both the substance as well as the process would, in another era, have elicited a serious pushback from Congress. But of course, in that other era, a cagey politician like Obama would never have gone this far either. We seem to be living the Frederick Douglass quote: Find out just what any people will quietly submit to and you have the exact measure of the injustice and wrong which will be imposed on them.
From the Common Dreams staff Federal Reserve Directors' Banks and Businesses Took $4 Trillion in Bailouts: Report A report released today by US Senator Bernie Sanders (I-Vt.) has revealed the names of 18 former and current directors from Federal Reserve Banks who directly benefited from financial bailouts after the 2008 crisis. The Reserve directors worked in banks and corporations that collectively received over $4 trillion in bailout money allocated by the Federal Reserve. Essentially, action taken by the Federal Reserve overwhelmingly benefited directors of the Federal Reserve, above other beneficiaries. The report titled Jamie Dimon Is Not Alone names the top 18 Reserve directors including Jamie Dimon who received the largest Federal Reserve loans and other financial assistance during the crisis. "This report reveals the inherent conflicts of interest that exist at the Federal Reserve. At a time when small businesses could not get affordable loans to create jobs, the Fed was providing trillions in secret loans to some of the largest banks and corporations in America that were well represented on the boards of the Federal Reserve Banks. These conflicts must end," Sanders said. To read the report click here (pdf). More Bernie at Common Dreams! In a preview to King Jamie Dimon's appearance Wednesday in front of the Senate Banking subcomittee on how JPMC "lost" $2 billion Jesse catches this video of Chris Whalen: Will Jamie Dimon Tell the Truth, Because He Hasn't Done So Yet Chris Whalen makes some interesting observations and cuts to the heart of the matter, although he sometimes falls into the morality of the income statement. The reactions of the CNBC spokesmodels and Andrew Ross Sorkin are worth watching. .... It is interesting that the argument keeps coming back to the defense that Wall Street firms 'write off big losses all the time.' It is not so much the size of the balance sheet, but rather the leverage and risks that are stacked against those assets, and the likely outcomes of cascading losses in a deeply intertwined financial system. ..... It seems that JPM was mispresenting and mispricing their risks, egregiously to the point of making false statements to the press, the public, and probably the regulators, and they were doing so with public funds and government guaranteed deposits in the pursuit of outsized income for their traders and management. And it may involve regulatory capture and accounting misrepresentations executed by offshoring portions of their trade book, and perhaps fraud. There seems to be a pattern of behaviour here, of a firm taking very large positions in the markets and rationalizing them as 'hedges' in order to take undisclosed risks for short term profits and thereby presenting systemic risk. This is precisely the genre of problems that led to the collapse of Lehman Brothers. We ought not to forget that JPM was also sitting on over $600 million in stolen MF Global customer money for many months, and quietly returned it over a weekend not so long ago. And that they have claimed that 'hedging' is the rationale for their enormously large and leveraged short positions in the silver market, although I doubt that the truth of that will ever be allowed to come to light with any consequence. Have we learned nothing? When a people declare that 'greed is good' is their overweening motto and principle of action, then they have already forsaken their liberty, and ensured themselves and their children nothing more than a miserable and despicable decline. The Banks must be restrained, and the financial system reformed, with balance restored to the economy, before there can be any sustained growth and recovery. Did you catch that? JPM RETURNED over $600 Million to MF Global? Here's the scoop from June 1 JPMorgan has returned $600 million of MF Global money: WSJ (Reuters via yahoo finance) JPMorgan Chase & Co (NYS:JPM - News) has returned about $600 million that was at the bank when MF Global Holdings Ltd (MFGLQ.PK) went bust in October, the Wall Street Journal reported late on Friday citing people familiar with the matter. MG (sic) Global's bankruptcy trustee James Giddens might have additional claims against JPMorgan for several hundred million dollars, the business daily said. JPMorgan officials contend that the bank no longer holds any MF Global money, the Journal said citing the people. A JPMorgan spokeswoman was unavailable for comment outside regular business hours. Trustee James Giddens, who is unwinding MF Global's broker-dealer, is to provide a written report to the U.S. Bankruptcy Court in Manhattan on the status of his investigation into the company's unraveling. Yep the old "unavailable for comment" routine, eh? But King Jamie WAS available for comment on Wednesday. Lisa Du at caught this clip of "Washington's Favorite Banker" WATCH: Jamie Dimon Schmoozes With Senators Before His Banking Committee Hearing There were a lot of complaints about some of the softball questions JP Morgan CEO Jamie Dimon got during his Senate Banking Committee hearing over his bank's $2 billion losing trade. Many pointed to the fact at JP Morgan and Dimon were huge donors to many of the senators on the banking committee. Well, this clip from Fox Business Network of Dimon before the hearing began can give you some more insight on that. In true banker fashion, Dimon walks into the room and immediately shakes hands with all the Senators he sees. Can you blame Jamie Dimon for being Jamie Dimon? Haha! Then see this picture in Max's Obama’s got his back: Jamie Dimon was wearing Presidential cufflinks at hearing Stacy Summary: Just in case the American peasant population needed to have their faces pushed into the dirt a little more, Jamie shows them who is boss. Yves Smith at NakedCapitalism fleshes out Dimon Testimony Whopper: CIO’s Gambling on Disaster = “Portfolio Hedging” Well, there’s nothing like seeing Jamie Dimon swinging for the fences. Dimon has taken his defense and turned it into an offense, in both senses of the word. In Senate testimony, Dimon revealed his idea of “portfolio hedging” to be even more egregious than the harshest critics thought. Dimon presented the job of the CIO to be to make modest amounts of money in good times and to make a lot of money when there’s a crisis. (That does not appear to be narrowly true, since in the last couple of years, during which there was no crisis, the CIO’s staff were among the best paid in the bank and produced significant profits for the bank. That is a bald faced admission that the CIO’s mandate had nothing to do with hedging. A hedge is a position taken to mitigate losses on an underlying exposure should they occur. Instead, Dimon has admitted that the mission of the CIO is to place bets on tail risks that are unrelated to JP Morgan’s exposures. A massive, systemically destructive strategy like the Magnetar trade would fit perfectly within the CIO’s mandate. Needless to say, this definition is an inversion of not just what the Volcker rule was meant to stand for (limiting financial firm gambles with taxpayer money), it’s NewSpeak, or in this case, DimonSpeak: “a hedge is whatever I say it is, no more and no less.” Another bit of DimonSpeak was his specious response when he was arguing against the Volcker rule. The JP Morgan chief asserted that a customer loan could be construed to be a prop trade. Um, no, Volcker applies to trading books. The fact that he’d run a line like that shows how little he thinks of the intelligence of the Senate Banking Committee and the public generally. ..... Ironically, Dimon’s throwaway comment to Merkley, that he’s already confessed to and takes full responsibility for the ‘small’ synthetic derivative portfolio’s mistakes, was never picked up by the other senators, and I’ll be surprised if the media appreciates the significance of that wee confession. Since Dimon has admitted in Congressional testimony that he was responsible for the internal control failures in the CIO portfolio SOX should now be a slam dunk for the SEC. But of course, that will never happen. .... WATCH the video of Nassim Nicholas Taleb on the BBC at the link! For our LAST WORD we go to Nomi Prins on DN! Thursday! JPMorgan Chase CEO Gets Warm Hill Welcome from Senators Flooded with Millions in Wall St. Donations Yeah, well, when I was tweeting about it, I think my reaction was to laugh. But I know it’s not really funny. It’s really quite sad. What he—to interpret what he just said there, it’s something like: "We didn’t really tell the regulators what was going on, because they didn’t ask. And when we knew what was going on, which we weren’t really watching, we told them, and then they sort of looked into it, and then all this happened." It’s this chicken-and-egg thing with regulators. And actually, throughout his testimony, he was very admissive of regulators doing anything. But he basically said, "Look, we misinformed them because we were misinformed." And the use of the word "we" kind of indicates a general "we." You know, on the one hand, he’s sorry. You know, "I am sorry." Jamie Dimon is sorry. On the other hand, "we sort of collectively didn’t really know, and then we did know, and when we did know, we told the regulators," and so forth. First of all, it’s the regulators’ job. This was 20 percent of the firm’s assets. Twenty percent of the largest bank in the world’s assets were tied up in these trades. You’re not allowed to, as a regulator, not know, not ask every single day, hour, whatever, what is going on in that trade. So that was definitely a fault of the regulators. But on the side of Chase, yes, we don’t know—and that’s sort of what he admitted, without wanting to admit it—what was really going on as that trade was going wrong. And again, the trade was a substantial portion of the assets of the firm. It was not a little trade that blew up. It was not something that, you know, he calls a mistake. It was a dedicated transaction, which he did not explain yesterday, for which, in a derivative’s way, in something called a synthetic derivative’s way, which is the most risky way of putting on the trade they were putting on, the position that they were taking, as we are seeing, they basically lost money by betting that North American corporate credits were going to improve over that period of time, and they did not. And the way that they bet that was a very expensive and risky way to do it. So, for Jamie Dimon to indicate that he kind of didn’t know until he did know is not—it cannot be true. ..... Well, first of all, it should be noted that Senator Merkley is not one of the recipients of JPMorgan Chase’s campaign contributions, so that gave him, I think, the latitude, which we need from our senators, in asking these kind of questions, number one. Number two, this has been the myth that Jamie Dimon has perpetuated from the get-go, that JPMorgan Chase was the only bank that was somehow isolated from the interrelationship of all of the subprime assets that were basically toxically created and fraudulently distributed through the global investor community on the backs of subprime loans that were basically extracted from individuals throughout the country and that somehow they were the only bank that was clean on this. In other words, it would not have suffered any losses, any negativity, had there not been any form of bailout or guarantees from the United States government. The—two points on that. First of all, he wasn’t separate from the New York Fed. You know, Tim Geithner was not someone kind of separate from him. Jamie Dimon, then and now, was and is a Class A director of the New York Fed, so he is the New York Fed in a lot of instances. But on a wider point, JPMorgan Chase benefited from two very big things that Senator Merkley didn’t even mention, which was that they achieved an acquisition of Bear Stearns, for which the government is still backing to the tune of $29 billion of guarantees for the assets in that acquisition, and it received some very favorable terms, and in negotiations, to acquire Washington Mutual. So, the result of that entire period was for JPMorgan to have emerged, by the help of so many things that Merkley mentioned as well as the two things I have just mentioned, to become the largest bank in the United States. So for him to sit there and say, "You know what? No, this was all just because I was really good, and it was—I was taking one for the team on Wall Street; otherwise—you know, they arm-twisted me. You know, they had a gun to my head. I couldn’t help it; I had to take the money," is absolutely ridiculous. ...... What we saw yesterday was a glimpse of how that lobbying money, as well as additional campaign money, and in many meetings and phone calls throughout the entire process, which we don’t even really quantify in those terms but have a tremendous impact on regulations and on how the industry is viewed and how particular members of it, certainly the larger ones like JPMorgan Chase, are viewed and the power that they have within the Senate and, therefore, with respect to regulation of their own industry. And the fact that there is a revolving door is very much intrinsic to the problem there. You’ve got an industry where—before, JPMorgan was talking about effectively policing himself, you know, regulators not knowing until we told them, and when we did, you know, and all of that. You know, we have a Senate Banking Committee that’s comprised, except for six members, actually, of people who have gotten contributions in some manner from JPMorgan Chase. You know, we have lobbyists who are going back and forth. Chuck Schumer is an example of someone who asked incredibly tepid questions yesterday. One of the things he said, I think, was, "Well, you know, shareholders lost some money, but taxpayers didn’t." And then he kind of proceeded to tag a question onto that, which was very, very light-handed. And so, these people really protect, on the side of Washington, the relationships with JPMorgan Chase. ...... But in terms of real structural change and regulation to make these banks smaller, to make them more accountable, to separate, you know, the deposits and loans of individuals from these types of trades that can go on in a chief investment office and lose billions of dollars, or even make billions of dollars, but have that kind of risk swing, is all because of the relationships, the monetary relationships and revolving door between the banking industry and the banking regulations. ...... Yeah, I mean, this is—this is why there’s no line between legislators and bankers. And beyond the millions of dollars that they are getting to run their campaigns and to stay in office or to get elected into office and so forth, there’s also all the sort of additional value that is received by the fact that JPMorgan Chase actually is giving them money, because if one bank is giving them money, it’s not the only bank giving them money, it’s the entire industry. And we’re looking at a piece of it through, you know, the largest and most powerful commercial bank in the United States, but this is the way it works. And these people know that partially why they are sitting there in those seats is, unfortunately, not because they were simply voted in, but because they had the money to basically market themselves and stay in and connect to their real friends, which are the banking community they’re supposed to be legislating against. MORE NOMI PRINS with Max below! If you have any of your money in Chase Bank (the "C" in JPMC) we strongly recommend and move your money OUT of Chase! For the Cherry on Top we dig our own Maddy for the BTV Tweet of the Week! ©
    Yes, Jen. We. Are. Here. Meanwhile.......this Tweet made me a sad gut wrenching way. :P
      Jesse LaGreca@JesseLaGreca Looking forward to the moment when Jamie Dimon holds up a treat & the whole Senate Committee gets up on their hind legs like he taught them
BradBlog chatter LinearBob adds But before that 90% rate, wasn't there an unbroken series of booms and busts? In other words, if the 1% can endlessly accumulate, then the economy will be unstable. We have a long history of such boom and bust cycles -- until we set up laws to prevent the bankers from gambling with their depositors money, and when the 1% had a good reason to leave their money in their companies instead of pulling it out, we had stability. What say you? Indeed! Of course the Beltway Bubalas only want you to hear their "version of events" starting with the WH Limo Ride for Obomber Senior Advisor DAVID PLOUFFE first on This Snufagopolis then Meet the David and State of the Candy plus even FAKE SNOOZE! Look for HOWARD DEAN on Face the Bob and while there throw bricks at MITT HEADROOM and LINDSEY GRAHAM. Aim yer bricks also at SICK SANTORUM on Candy and Snuff and JOHN "CRAZY TRAIN" MCCAIN on Meet the David. All the roundtables feature a sordid collection of D.C. navel-gazers so save a few bricks for them. Plenty of great stuff at our regulars including many interviews from last weekend's Netroots Nation and more from Peter B Collins on the War on Citizens United and how we can fight back (all free podcasts btw)! Tell yer friends! The Brick TeeVee crew ran into a small problem when the garden tiller wouldn't run but a C-Note fixed that so the glorious garden can continue! If our new fortified garden fence can keep out the critters we expect bumper crops, if it rains at all this summer (no rain to speak of in NE OH for the last four weeks). Have a great week and we'll hook up with you next Sunday in COL OH to see DAVID COBB on his Barnstorming tour!
Democracy NOW! Monday, June 11, 2012 Tuesday, June 12, 2012 Wednesday, June 13, 2012 Thursday, June 14, 2012 Friday, June 15, 2012 GRITtv
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    Our permit to occupy public squares and parks is in The First Amendment, which affirms "the right of the people peaceably to assemble, and to petition the Government for a redress of grievances." When people across the Middle East occupied public squares, leaders in Washington mostly cheered those protesters and warned Middle Eastern governments not to use force to clear them. Those other societies don’t have a First Amendment. Yet Washington affirmed the universal right to assembly and protest. We do have a First Amendment. The force being used to clear nonviolent protesters from public squares in our country is unacceptable. It must stop. Sign the Petition to Get the 99% Deficit Proposal Heard in Congress
    Please SIGN THE PETITION in support of the "99%'s Deficit Proposal" and plan direct actions to tell the Super Committee that the 99% have better solutions to our nation's crises. You can plan your own action at your Congressmember's office or join us in Freedom Plaza in Washington, DC for marches to Capitol Hill. Check our calendar for announcements. OUR GOAL: TO EMPOWER voters with facts and perspectives necessary to decipher the spin, obtain the truth, and support candidates that best represent their interests and values.
NET NEUTRALITY! A Push for Privacy in the Wake of the Carrier IQ Controversy Remember Carrier IQ, the company that makes the secret spying software that’s installed on more than 140 million phones? You know, the software that can record our most sensitive personal data? ... Thanks in part to the 22,000 people who joined Free Press’ call for a congressional investigation, some of those questions are closer to being answered and mobile users are closer to being protected. The protection comes in the form of a bill from Massachusetts Rep. Ed Markey. Markey released a draft of a bill called the "Mobile Device Privacy Act" that would require phone companies to disclose to users just what is being done with all of their data. If the bill passes, an opt-out provision would go into effect a year later and would require companies to allow users to opt out of data-collection schemes like the one developed by Carrier IQ........
CAMPAIGN FOR AMERICA'S FUTURE American Majority Rejects Washington Austerity Consensus – And We Demand Media Coverage by Roger Hickey, President, Campaign for America's Future: No more silent majority. The Campaign for America’s Future is joining with the Center for Economic and Policy Research (whose Co-Director, Dean Baker blogs regularly about economic bias in the media) and with FAIR (Fairness and Accuracy in Reporting) to monitor the media’s coverage and representation of the American Majority views as they go into covering the big deficit fight. But we want to enlist YOU too. Send us accounts of unbalanced coverage in the national media and in your local newspapers and television. Call up reporters, editors, assignment people and tell them when they are under-representing the views of the American Majority. We should have at least half the experts, pundits, quotes and real people represented in their coverage. In a debate as important as the one we are going into, we can’t allow the media to ignore the American Majority. Much more at
MOVE TO AMEND! SIGN HERE NOW! And check out more actions on the Move to Amend Calendar featuring David Cobb's Barnstorming Tour! Also visit Rep Alan Grayson's site GET INVOLVED! And Alan Grayson is running again in FL-8! Help out at
SUPPORT THE TROOPS WHO REFUSE TO FIGHT See and Bradley Manning Support Network
UPDATE! Michael Ratner on ANTIWAR RADIO Michael Ratner May 2, 2012: Michael Ratner, President Emeritus of the Center for Constitutional Rights, discusses his article “Bradley Manning: a show trial of state secrecy;” Manning’s quasi-public trial (which is open to observation, yet vital evidence and court documents are withheld from the media and public); why the NY Times is just as guilty of “aiding the enemy” as Manning and WikiLeaks; how President Obama and Secretary of Defense Leon Panetta made a fair trial impossible; and how you can support Bradley Manning in his time of need.
DONATE YOUR OLD CELL PHONES TO T.J. MARTELL FOUNDATIONHelp save lives. Donate your old & used iPhone, Blackberries, Droid and other phones to help the T.J. Martell Foundations fund life-saving cancer & AIDS research. For more information, go to
CELLULAR PHONE TASK FORCE EDUCATION, ADVOCACY, SUPPORT at The Cellular Phone Task Force is dedicated to halting the expansion of wireless technology because it cannot be made safe. We provide: education to the public concerning electromagnetic pollution (electrosmog); advocacy for an electromagnetically cleaner environment; support for individuals disabled by radiation from wireless technology and other sources.

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The essential guide for watching government propaganda
IRAQ: 4,486 US Military Dead as of April 21, 2012
AFGHANISTAN: 2,009 US Military Dead as of June 14, 2012
The Obameter: Tracking Obama's Campaign Promises
Considering Democracy: 8 Things to ask your Representative

  • This Week (ABC) anchor George Stephanopoulos with Jake Tapper subbing
    Fact Checking ABC's "This Week" at NPR "On the Media" - Jake Tapper, interim host of ABC's "This Week," liked the idea of fact-checking his guests' comments, so he set up a partnership with Politifact, a non-partisan fact-checking organization. See Politifact Statements ABC News 'This Week'
    • White House senior adviser David Plouffe
    • former Republican presidential candidate Rick Santorum
    • ROUNDTABLE: Romney national campaign co-chair and former Minnesota Gov. Tim Pawlenty, ABC News' George Will, political strategist and ABC News political analyst Matthew Dowd, former Obama economic adviser and ABC News consultant Austan Goolsbee, and editor and publisher of The Nation Katrina vanden Heuvel.

  • Face The Nation (CBS) Host Bob Schiefer
    • On the trail with Mitt Romney
    • former Vermont Governor and 2004 Democratic Presidential Candidate Howard Dean
    • Senator Lindsey Graham (R-SC)
    • ROUNDTABLE: The Wall Street Journal's Peggy Noonan, National Review & TIME Magazine's Richard Lowry, CBS News Political Correspondent Jan Crawford and CBS News Political Director John Dickerson

  • 60 Minutes (CBS)
    • Insiders - Steve Kroft reports on how America's lawmakers could legally buy stock based on non-public information simply because they wouldn't pass a law against themselves - a law they finally passed after this story first ran. Ira Rosen and Gabrielle Schonder are the producers.
    • Freeman Hrabowski - University President Freeman Hrabowski has turned the University of Maryland Baltimore County into a well-known producer of outstanding scientists and engineers, many of whom are minorities. Byron Pitts reports. David Schneider is the producer.

  • Meet the Press (NBC) Host David Gregory
    Meet the Facts at NPR "On the Media" - Last December, NYU professor Jay Rosen proposed something simple yet revolutionary: why don't the Sunday morning chat shows fact check their guests? After "Meet the Press" host David Gregory declined, two college students launched a website to do it for him. One of them, Chas Danner, explains what they're trying to accomplish. See their website updating soon!
    • White House senior adviser David Plouffe
    • Sen. John McCain (R-AZ)
    • ROUNDTABLE: Washington Post associate editor David Maraniss; presidential historian Doris Kearns Goodwin; TIME’s Mark Halperin; Fmr. Rep. Harold Ford, Jr. (D-TN); and the Wall Street Journal’s Kim Strassel.

  • State of the Union With Candy Crowley (CNN) At 9 AM ET, Candy talks to the power players: politicians, business leaders and international newsmakers who will make Monday morning's headlines. At NOON ET, Candy wraps it all up with fresh interviews and the best of the earlier hours.
    • White House Senior Adviser, David Plouffe
    • former presidential candidate Rick Santorum
    • Senator John Barrasso (R-WY)
    • Ranking Member of the House Budget Committee, Rep. Chris Van Hollen (D-MD)
    • ROUNDTABLE: Matt Bai of the New York Times and Jessica Yellin, CNN’s Chief White House Correspondent

  • HEAD ON RADIO with Bob Kincaid
    Headon Radio with Bob Kincaid 6 PM Eastern, 3 PM Pacific, 2300 GMT. Duration: 3 hrs. To be part of Conversation Radio on Head-on Radio, call toll-free (877) 443-2366, or use our Liberal community line at 304-658-3333. Email bob [at] headonradio [dot] com during the show!
    • Prayer Meetin' Wednesday!!!!! Uber Pope/Imam/Rabbi Bob lets the Religious Right have it! Listen HERE (mp3) NOW! Amen to the White Rose Society! Donate to Head On HERE! And join Coal River Mountain Watch at!

    The Green News Report with Brad Friedman & Desi Doyen: 6 minutes of green news, politics, analysis & snarky comment! BOOKMARK NOW!
    'Green News Report' - June 14th IN TODAY'S RADIO REPORT: Big Oil worried about global warming! And still fighting to keep their billion-dollar taxpayer subsidies; OPEC fights to raise oil prices; Koch-funded Americans For Prosperity fights environmental extremist kite-flying schoolchildren; PLUS: Hey Fox 'News', whaddaya say now that gas prices have fallen? ... [cue: crickets] ... All that and more in today's Green News Report!
    • IN 'GREEN NEWS EXTRA' (see link): Poll: Independents (even Republicans) concerned about global warming, support clean energy; NY fracking proposal creates "sacrifice zones" in poor counties; NOAA: Hottest May on record; US solar installations jump 85%; SunEdison brings solar to India villages; Battery maker A123 unveils "breakthrough"; Diesel exhaust causes lung cancer; Deep divisions at UN's Rio+20 conference next week; Forest floors add moregreenhouse gases in a warming climate ... PLUS: Mayor Bloomberg Offering $9 Million for Good Ideas ... and much, MUCH more! ...
    • BRADBLOG UPDATE: ACLU Files Suit to Block 'Illegal' Purge of 'Potential Non-Citizen' Voters in Florida Guest blogged by Ernest A. Canning - The state of Florida and it's Secretary of State Ken Detzner (R) are knowingly violating Section 5 of the Voting Rights Act in their attempted purge of "potential non-citizens" from the Sunshine State voting rolls, according to a new federal lawsuit [PDF] filed by the ACLU and the Lawyers' Committee for Civil Rights Under Law. The complaint follows on the heels of a May 31, 2012 two-page letter submitted to FL election officials by T. Christian Herren, the chief lawyer of the U.S. Justice Department's Voting Rights Division. In his letter, Herren opined that the state's voter roll purge is in violation of Section 5 --- at least in the 6 Florida counties "covered" by that section --- because the state has not sought preclearance from either the DOJ or a federal court, as required by that section of the 40-year old federal law. Additionally, the DOJ notes in its letter, the purge, coming as it does within the 90 days before Florida's federal primary election, is also in violation of the National Voter Registration Act (NVRA) which covers the entire state. In response, FL State Department spokesman Chris Cates initially said they would continue the purge nonetheless, as they were "firmly committed to doing the right thing and preventing ineligible voters from being able to cast a ballot." In his official response to the DOJ a few days later, Detzner all but challenged the feds to bring a suit in order to stop the state from continuing their efforts...........
    • BRADCAST UPDATE! GUEST HOSTING the Mike Malloy Show (Nationally Syndicated, air affiliates, SiriusXM Ch. 127, Call-in#: 877.520.1150) MON-FRI 6/11-6/15, 6p-9p PT (9p-Mid. ET)
    • Visit to see who counts yer votes! Now up to 9,200+ Election Protection posts! Reference yer background/research at Who's Counting? too.

  • The Peter B. Collins Show PODCAST!
    pbc show
    Listen at!
    The Peter B. Collins Show covers American news and politics from the Left Coast. Veteran talk radio personality Peter B. Collins, based in San Francisco, delivers fresh interviews, commentary and analysis on a range of important topics, with views and voices you don’t often find in the corporate media.
    Holiday Break and Website Changes
      To my valued listeners: We are making some changes to the website and our terms, effective in January. We will continue to offer free podcasts–my new daily news and commentary. Our in-depth interviews will be available for $1 per episode, or to subscribers who pay $5 per month or more. Loyal listeners who simply can’t afford it should send an email to, as we will be offering a limited number of scholarships to our friends who are hurting during these tough times. More information will be posted as we complete the revisions. I’m grateful to each of you for listening and supporting this work, and hope that the new model will enable us to keep it going well into the future. All the best, -pbc
    • PBC Podcast 497 June 11, 2012 Montana AG Refuses to Use 11th Amendment in Supreme Court Brief; Dr. Jeff Kaye on Misuse of Malaria Drug on All Gitmo Prisoners Veteran attorney Rob Hager joins Adam Fergatch in part 3 of our series on the Montana appeal that directly challenges the Supreme Court’s decision in Citizens United; psychologist/journalist Jeffrey Kaye updates his investigation into misuse of malaria drug at Gitmo.
    • PBC Podcast 499 June 12, 2012 Part 4 on ‘Citizens United’: Mayer and Fergatch Respond to Adam Liptak Report in New York Times, and to Our Listener, Natalie, from Montana Attorney Carl Mayer and activist Adam Fergatch return for Part 4 of our series on their effort to overturn Citizens United. This podcast is free, available to all–please share it!
    • PBC Podcast 500 June 13, 2012 ‘Citizens United’ Part 5: File Name for Montana Case Mysteriously Changes; Sister Maureen Fiedler on the “War on Religion” and Much More Attorney Rob Hager returns to talk about key issues in the Montana appeal to the Supreme Court challenging Citizens United; public radio host Maureen Fiedler talks about religion in politics and politics in the Catholic religion.

  • Ring of Fire Radio
    Find us at and hosted by Robert F. Kennedy Jr., Mike Papantonio and Sam Seder
    Ring of Fire Radio - GoLeft TV - Robert F. Kennedy, Mike Papantonio, Sam Seder - Politics, Commentary, and News.
    This Week on Ring of Fire! June 15, 2012
    • We’ll be hearing a collection of interviews from last week’s Netroots Nation event in Providence, Rhode Island:
    • Senator Sheldon Whitehouse will discuss his efforts to help reform our campaign finance system.
    • Senator Sherrod Brown from Ohio will discuss the student loan epidemic that is economically crippling college graduates.
    • Dave Zirin, political sportswriter for The Nation and Edge of, will be here to tell us about the dangers that high school and college football players face, and why no one is talking about that issue.
    • And Joel Rubin from the Ploughshares Fund will give us the latest details on the situation regarding Iran’s nuclear programs.
    • VIDEO! Papantonio: How The Wisconsin Uprising Was Hijacked
    • VIDEO! Papantonio Introduces “Rick Scott: Governor Gollum” Last week, Scott Walker managed to retain his office as governor of Wisconsin, in spite of the fact that he’s one of the most disliked governors in the country. After 18 months of protests, rallies, and outside help, unions and other activists were unsuccessful in their efforts to oust Walker and his Republican cronies. And although Walker’s friends helped him win by pouring tens of millions of dollars into the race, that wasn’t the only deciding factor – Another factor that has gone overlooked is that the activists who started the recall drive and protests allowed their movement to be hijacked by politicos – on both sides – who managed to obscure the message that was so clear at the beginning of the Wisconsin uprising. Mike Papantonio talks about why this happened, and why there’s still hope, with Mother Jones reporter Andy Kroll.
    • VIDEO! Papantonio: Billionaires Now Running Our Democracy Mike Papantonio talks about how the billionaire inheritance class has completely hijacked our democratic process, and how they’re using Mitt Romney to fulfill their wishes for the future of our country.
    Support Those Who Support Progressive Media! 2011 has certainly been a great year for Ring of Fire, and we’ve had some great sponsors that have helped support the show throughout the year. We wanted to take the time to personally thank each and every one of them, and we encourage all of our listeners to take the time to support those who have support us.
    • Join our blog at You can now SUBSCRIBE TO OUR PODCAST by clicking on the "Podcast" tab at the top of the Ring of Fire blog. Please help support progressive radio by signing up!
    Ring of Fire Radio Ring of Fire, hosted by Robert F. Kennedy Jr., Mike Papantonio and Sam Seder: Saturdays at 3 o’clock Eastern, rebroadcasts 8-11 et Sunday evenings on Chicago's Progressive Talk WCPT AM & FM and 4 pm et on Sirius/XM 167 featuring The PAP Attack! "We’ll bring you the stories that the mainstream media didn’t feel like reporting this week."

  • Majority Report with Sam Seder Streaming LIVE weekdays 11:30 am et @!

    • June 11, 2012 Heather Hurlburt, Matt Duss on Syria & Shannyn Moore, Pebble Mine Threat
    • June 12, 2012 Eliot Spitzer, Facing the Fiscal Cliff
    • June 13, 2012 Sen. Sheldon Whitehouse, Long-term Economic Reform, Kill List & Markos Moulitsas
    • June 14, 2012 Joel Rubin, Iranian Nuclear Arsenal, Jesse LaGreca & Zach Wahls
    • June 15, 2012 Casual Friday! Cliff Schecter, News & Isabel Gillies, Movies & Jeff Smith D17 Trial
    • MORE Podcast Interviews at!

  • On the Edge with Max Keiser Podcasts and more @!
    "HI Y'ALL! Tell the people! Tell the people!"
    WHO IS MAX KEISER? Max Keiser is a financial expert, Prediction Markets analyst, inventor and filmmaker. He is the creator of the Hollywood Stock Exchange (HSX) the first Prediction Market. Max Keiser co-hosts "The Truth About Markets" on ResonanceFM 104.4 in London. He also produces and presents documentary films covering markets and finance for Al Jazeera’s "People & Power" series. Max Keiser started his career on Wall Street in 1983. He is the creator of KarmaBanque a site that enables activists to challenge corporate power.
    • VISIT!!! Crowd Funding for Pirates!
    • NEW! MaxKeiserTV on YouTube! MaxKeiserTV PLUS here is Max Keiser’s official Facebook page And here is the official Keiser Report page
    The “Keiser Report” has been begging europe to do this for years by maxkeiser READ European Banks Preparing To Boycott Big Three Rating Agencies zerohedge(nakedcapitalism)
    • VIDEO! Max Keiser and Hugo Salinas Price on Sunny TV – Athens, Greece by maxkeiser Interview by George Noulas.
    • KEISER REPORT [KR300] Hot Potato Counterfeit Cash We discuss hot potatoes, big fish, counterfeit collateral and a stealth British default. In the second half of the show Max talks to Charles Hugh Smith of about austerity death spirals and phantom wealth.
    • KEISER REPORT [KR301] Keiser Report – Con Games Go Global! We discuss the European short change con in which debt and debt facilities are created and swapped at ever increasing speeds in order to defraud the population. In the second half of the show Max talks to economist Yanis Varoufakis about the ponzi austerity screwing Europeans right down to the ground with more debt.
    • KEISER REPORT [KR302] Keiser Report: City of Biggest Crooks We discuss Libor traders who rigged global interest rate market escaping charges while Iceland sentences bankers to four year prison terms. At the same time, Iceland’s central bank is raising interest rates to deal with a growing economy while Western bankster-riddled economies prepare for another round of money printing to deal with all the fraud. In the second half of the show Max talks to Brett Scott about financial activism, a Wikileaks for finance and collaboration with hedge funds.
    • ON THE EDGE [OTE163] On the Edge with Nomi Prins
    • THE TRUTH ABOUT MARKETS [TaM-362] The Truth About Intergalactic Jet Lag Download show HERE (mp3)
    • Donate to ResonanceFM here!

  • ANTIWAR RADIO with Scott Horton
    antiwarradio.jpg LIVE (9-11am Pacific, 12pm - 2pm Eastern) Plenty of archives too!
    Listen at
    Sarah Marusek June 12, 2012: Sarah Marusek, social science doctoral candidate at the Maxwell School of Syracuse University, discusses her article “West Must Recognize Peaceful Palestinian Resistance Movement ;” the hundreds of thousands of down-and-out Palestinian refugees in Lebanon who, inspired by the Arab Spring uprisings in Egypt and beyond, are demonstrating to get back home; the surprising alliance between competing Palestinian factions (Fatah, Hamas) and militant groups (Islamic Jihad) that are joining together for peaceful rallies; the mainstream media’s refusal to cover (or contemplate) an event that shows Palestinians peacefully resisting Israeli occupation; and the leading women activists in the Palestinian movement.
    Joe Lauria June 12, 2012: Independent investigative journalist Joe Lauria discusses his article “Security Council Blames Syria for Attack ;” allegations that the Houla massacre was actually Sunni rebels killing pro-government Alawites and Shia; why Bashar al-Assad deserves the blame for Syria’s civil unrest; the media’s scant coverage of al-Qaeda’s presence within Syria’s rebellion; Russia’s strategic interests in Syria aside from the Tartus naval port; why NATO intervention would almost certainly worsen the crisis; and the revenge massacres likely to follow in the wake of Syrian regime change, with a Sunni Islamist government in charge.
    Jason Ditz June 14, 2012: Jason Ditz, managing news editor at, discusses his debate with the “Prince of Darkness” (Richard Perle) on BBC Radio; the Obama administration’s refusal to apologize for the deadly November attack on a Pakistani military outpost – even though critical supply lines to Afghanistan remain closed as a consequence; the technological barrier preventing other countries from using drones the way the US does; and how the dearth of journalists in Syria allows the Western media to spin the narrative any way they choose.
    Eric Margolis June 14, 2012: Eric Margolis, internationally syndicated columnist and author of American Raj, discusses his article “Egypt Headed for an Explosion;” the vote-rigging funny business that enabled a Mubarak retread to get in the presidential runoff election; why Egypt won’t remain a US client state, 2 billion a year in military aid notwithstanding; how the US Navy came to be both tremendously expensive and strategically useless; the USAF’s critical role in US foreign policy; and the Pentagon’s promotion of China as the next big threat to justify their enormous budget.
    • Many more interviews at Antiwar Radio!

  • fauxnews
    • David Plouffe, Senior Adviser to the President
    • Chairman of the Senate Homeland Security Committee Joe Lieberman
    • former CIA Director, General Michael Hayden (Ret.)

~ ~ ~ ~ ~ ~

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