Crossposted from our New Media site Antemedius: still under construction, but come on over and kick the tires!

Political Economist F William Engdahl is author of the book “A Century of War: Anglo-American Oil Politics and the New World Order.” Mr Engdhahl has written on issues of energy, politics and economics for more than 30 years, beginning with the first oil shock in the early 1970s. Mr. Engdahl contributes regularly to a number of publications including Asia Times Online, Asia, Inc, Japan’s Nihon Keizai Shimbun, Foresight magazine; Freitag and ZeitFragen newspapers in Germany and Switzerland respectively.

Speaking with Paul Jay of The Real News about President Obama’s stimulus package and newly announced budget, Engdahl says the fundamental causes of the economic crisis were missed, and opines that until President Obama reinstates Glass-Steigel restraints on banking which were repealed by the Clinton administration in 1999 and begins to re-regulate the financial system, there will not be a flow of healthy credit into the healthy economy.

Real News – March 1, 2009 – 11 min 52 sec

Taking on the banking cabal

Engdahl: President Obama has left intact a brain dead banking system that is out of control

This is how it develops…

I decide to water my garden.

As I turn on the hose in the driveway, I look over at my car and decide my car needs washing.

As I start toward the garage, I notice that there is mail on the porch table that I brought up from the mailbox earlier.

I decide to go through the mail before I wash the car.

I lay my car keys down on the table, put the junk mail in the garbage can under the table, and notice that the can is full. So, I decide to put the bills back on the table and take out the garbage first.

But then I think, since I’m going to be near the mailbox, when I take out the garbage anyway, I may as well pay the bills first. I take my checkbook off the table, and see that there is only 1 check left.

My extra checks are in my desk in the study, so I go inside the house to my desk where I find the can of Coke that I had been drinking.

Dear Employees,

Due to the current financial situation caused by the slowdown of economy, Management has decided to implement a scheme to put workers of 40 years of age and above on early retirement.

This scheme will be known as RAPE (Retire Aged People Early).

Persons selected to be RAPED can apply to management to be eligible for the SHAFT scheme (Special Help After Forced Termination).

Persons who have been RAPED and SHAFTED will be reviewed under the SCREW program (Scheme Covering Retired Early Workers).

A person may be RAPED once, SHAFTED twice and SCREWED as many times as Management deems appropriate.

Persons who have been RAPED can only get AIDS (Additional Income for Dependants & Spouse) or HERPES (Half Earnings for Retired Personnel Early Severance).

Obviously persons who have AIDS or HERPES will not be SHAFTED or SCREWED any further by Management.

Persons who are not RAPED and are staying on will receive as much SHIT (Special High Intensity Training) as possible.

Management has always prided itself on the amount of SHIT it gives employees.

Should you feel that you do not receive enough SHIT, please bring to the attention of your Supervisor. They have been trained to give you all the SHIT you can handle.

Sincerely,

The Management

Hat Tip to David Swanson:

War Criminals, Including Their Lawyers, Must Be Prosecuted

By Marjorie Cohn, Thursday, February 19, 2009, 5:29 PM

Since he took office, President Obama has instituted many changes that break with the policies of the Bush administration. The new president has ordered that no government agency will be allowed to torture, that the U.S. prison at Guantánamo will be shuttered, and that the CIA’s secret black sites will be closed down. But Obama is non-committal when asked whether he will seek investigation and prosecution of Bush officials who broke the law. “My view is also that nobody’s above the law and, if there are clear instances of wrongdoing, that people should be prosecuted just like any ordinary citizen,” Obama said. “But,” he added, “generally speaking, I’m more interested in looking forward than I am in looking backwards.” Obama fears that holding Team Bush to account will risk alienating Republicans whom he still seeks to win over.

Obama may be off the hook, at least with respect to investigating the lawyers who advised the White House on how to torture and get away with it. The Office of Professional Responsibility (OPR) has written a draft report that apparently excoriates former Justice Department lawyers John Yoo and Jay Bybee, authors of the infamous torture memos, according to Newsweek’s Michael Isikoff. OPR can report these lawyers to their state bar associations for possible discipline, or even refer them for criminal investigation. Obama doesn’t have to initiate investigations; the OPR has already launched them, on Bush’s watch.

The smoking gun that may incriminate George W. Bush, Dick Cheney, et al., is the email traffic that passed between the lawyers and the White House. Isikoff revealed the existence of these emails on The Rachel Maddow Show. Some maintain that Bush officials are innocent because they relied in good faith on legal advice from their lawyers. But if the president and vice president told the lawyers to manipulate the law to allow them to commit torture, then that defense won’t fly.

A bipartisan report of the Senate Armed Services Committee found that “senior officials in the United States government solicited information on how to use aggressive techniques, redefined the law to create the appearance of their legality, and authorized their use against detainees.”

From RawStory Tuesday morning…

Obama, not Bush, now seeking delay of Rove deposition

John Byrne, Tuesday, February 17, 2009

Former Bush Deputy White House Chief of Staff Karl Rove has a new president urging Congress not to force him to testify next week.

President Barack Obama.

In a court brief quietly filed Monday, Michael Hertz, Obama’s acting assistant attorney general, said it was necessary to delay an effort to force Rove to be deposed in a congressional investigation into the firing of nine US Attorneys and the alleged political prosecution of a former Alabama governor.

Hertz said an effort was underway to find a “compromise” for Rove, and requested two weeks to broker a deal before proceeding in court.

“The inauguration of a new president has altered the dynamics of this case and created new opportunities for compromise rather than litigation,” Hertz wrote in the brief released late Monday by McClatchy’s Washington, D.C. bureau. “At the same time, there is now an additional interested party – the former president – whose views should be considered.”

The House Judiciary Committee sued the Bush Administration to force Rove to testify last year, saying that Rove shouldn’t be covered by executive privilege. They won. But their case has been held up by an appeal, and Hertz’s filing was the Obama administration’s first legal weighing-in on the matter. Obama’s Justice Department has supplanted the role of Bush’s Justice Department in the case, and their position will likely inform the terms under which Rove is questioned by Congress.

Hertz’s statement mirrors a statement from Obama White House Counsel Gregory Craig published Saturday.

“The president is very sympathetic to those who want to find out what happened,”  Craig told The Washington Post. “But he is also mindful as president of the United States not to do anything that would undermine or weaken the institution of the presidency.

*emphasis added

From RawStory this morning:

Senate Judiciary Chairman Patrick Leahy (D-VT) said in an interview Tuesday evening that Bush Administration officials could be criminally prosecuted if they lied under oath as part of a proposed investigation into Bush-era abuses.

Leahy chose his words carefully, to be sure. But his words went slightly farther than that of other Congressional Democrats, who maintain that probing abuses of the Bush era is critical to preserving the integrity of law.

“You’re going to have people, some people will say, let’s go ahead and prosecute everybody,” Leahy told MSNBC host Rachel Maddow Tuesday. “That can take 10 or 15 years. Others want to ignore everything. I don’t agree with that.”

But, he said, the Senate could set up a “truth commission” like that established by Sen. Frank Church in the 1970s, which was aimed at bringing out abuses of the President Richard Nixon era. Church’s commission resulted in an array of reforms that tightened civil liberties protections after Nixon’s infamous wiretapping and Watergate scandals.

“What if a truth commission did a thorough investigation of the type you’re describing and they found that in fact horrible crimes were committed?” Maddow asked. “If there wouldn’t be prosecution, how would say — how would we say now we know and they all legally got away with it, how would that stop these things from happening again?”

Leahy seemed to signal a slight shift — previously his focus seemed more on uncovering misdeeds than in prosecuting officials. While not saying that he was planning for prosecutions, he indicated that they could certainly result.

“I think because of the fact it’s very, very public and the way they find out about it, it makes it very clear to the next person, you try the same thing, you are going to be found out, you are going to be prosecuted,” Leahy said. “You are also going to have some people that will refuse to — perhaps refuse to testify, even though offered immunity. With the evidence from the others, they can be prosecuted. And, of course, anybody can be prosecuted for perjury.”