Archive for the ‘Straight bullshit’ Category

AIG’s insistence on bonuses raises ire in Washington

March 15, 2009

(CNN) — White House officials and some members of Congress reacted strongly Sunday to news that insurance giant AIG had intended to pay out $165 million in bonuses and compensation. The company has received at least $170 billion in federal bailout money. (more…)

Bush’s Final F.U.

December 15, 2008

The administration is rushing to enact a host of last-minute regulations that will screw America for years to come


Posted Dec 25, 2008 11:55 AM

With president-elect Barack Obama already taking command of the financial crisis, it’s tempting to think that regime change in America is a done deal. But if George Bush has his way, the country will be ruled by his slash-and-burn ideology for a long time to come. (more…)

Big Three CEOs Flew Private Jets to Plead for Public Funds

November 19, 2008

Auto Industry Close to Bankruptcy But They Get Pricey Perk


November 19, 2008—

The CEOs of the big three automakers flew to the nation’s capital yesterday in private luxurious jets to make their case to Washington that the auto industry is running out of cash and needs $25 billion in taxpayer money to avoid bankruptcy.

The CEOs of GM, Ford and Chrysler may have told Congress that they will likely go out of business without a bailout yet that has not stopped them from traveling in style, not even First Class is good enough. (more…)

So Little Time, So Much Damage

November 5, 2008
November 4, 2008

While Americans eagerly vote for the next president, here’s a sobering reminder: As of Tuesday, George W. Bush still has 77 days left in the White House — and he’s not wasting a minute.

President Bush’s aides have been scrambling to change rules and regulations on the environment, civil liberties and abortion rights, among others — few for the good. Most presidents put on a last-minute policy stamp, but in Mr. Bush’s case it is more like a wrecking ball. We fear it could take months, or years, for the next president to identify and then undo all of the damage. (more…)

Look what happened at my house (A photo diary)

November 5, 2008

Sat Nov 01, 2008 at 03:13:23 PM PST

This is what was done last night to the Obama sign in my front yard. Last night was Halloween. So what do you think? Halloween prank or hate crime?

How about both. I’ll explain below. (more…)

Strong health care equals strong emergency response

October 21, 2008

By Laura H. Kahn | 14 October 2008

How Financial Madness Overtook Wall Street

October 1, 2008
Thursday, Sep. 18, 2008

If you’re having a little trouble coping with what seems to be the complete unraveling of the world’s financial system, you needn’t feel bad about yourself. It’s horribly confusing, not to say terrifying; even people like us, with a combined 65 years of writing about business, have never seen anything like what’s going on. Some of the smartest, savviest people we know — like the folks running the U.S. Treasury and the Federal Reserve Board — find themselves reacting to problems rather than getting ahead of them. It’s terra incognita, a place no one expected to visit. (more…)


September 28, 2008

September 12, 2008

Main Causes Were Tax Cuts and Higher Security Spending
By Richard Kogan and Gillian Brunet

The federal budget is projected to run a $546 billion deficit in 2009, compared with the $710 billion surplus that budget experts projected for 2009 back when President Bush took office nearly eight years ago.  This $1.3 trillion deterioration in the nation’s fiscal finances for 2009 can be seen by comparing estimates that the Congressional Budget Office (CBO) released this week with those that CBO released in January 2001.

The story is much the same for the entire ten-year period covered by CBO’s 2001 projection.  In January 2001, CBO projected a cumulative $5.6 trillion surplus for 2002-2011.  Now, CBO’s new report suggests the nation will amass a cumulative deficit of $3.8 trillion over that same period, marking a $9.4 trillion deterioration.

For both 2009 and the ten-year period, this massive deterioration is partly due to weaker-than-expected performance of the economy, along with other “technical” factors that are beyond policymakers’ control.  But these economic and technical factors account for less than one-fourth of the fiscal deterioration for each period, and they are not responsible for the return of deficits.  Even given the disappointing performance of the economy since 2001 relative to CBO’s earlier projections, there would have been large surpluses in every year — totaling $3.4 trillion over the 2002-2011 period — if policymakers had enacted no tax cuts or program increases since 2001.

The dominant factor in the unprecedented fiscal deterioration thus was not the performance of the economy.  Nor was it increases in domestic programs.  The key factors have been large tax cuts and increases in security-related programs.  For fiscal 2009, some $1 trillion of the $1.3 trillion deterioration in the nation’s fiscal finances stems from policy actions, and tax cuts account for 42 percent of this $1 trillion deterioration.  Increases in military and other security programs account for another 40 percent of the deterioration.

The story is much the same for the ten-year period as a whole.  For the 2002-2011 period, tax cuts and increases in security programs account for more than four-fifths of the fiscal deterioration caused by policy actions.  Increases in domestic programs played a much more modest role. (more…)

Putin’s war enablers: Bush and Cheney

August 21, 2008

Russia’s escalating war on Georgia reveals the consequences of the Bush administration’s long assault on the international rule of law.

By Juan Cole

Aug. 14, 2008 | The run-up to the current chaos in the Caucasus should look quite familiar: Russia acted unilaterally rather than going through the U.N. Security Council. It used massive force against a small, weak adversary. It called for regime change in a country that had defied Moscow. It championed a separatist movement as a way of asserting dominance in a region it coveted.

Indeed, despite George W. Bush and Dick Cheney’s howls of outrage at Russian aggression in Georgia and the disputed province of South Ossetia, the Bush administration set a deep precedent for Moscow’s actions — with its own systematic assault on international law over the past seven years. Now, the administration’s condemnations of Russia ring hollow. (more…)

Does Bush Believe McCain Was Tortured?

August 21, 2008

19 Aug 2008 10:54 am

<!– –> Agabuse

In all the discussion of John McCain’s recently recovered memory of a religious epiphany in Vietnam, one thing has been missing. The torture that was deployed against McCain emerges in all the various accounts. It involved sleep deprivation, the withholding of medical treatment, stress positions, long-time standing, and beating. Sound familiar?

According to the Bush administration’s definition of torture, McCain was therefore not tortured. (more…)