Tag: Wall Street

They’re Fired Up, They’re Ready To Go

Fear not, wanderers in this WTF Wilderness.  Be not dismayed, let not your hearts be troubled.  Lift up your eyes like you never have before, and behold the shiny objects flashing around the White House and the DNC.  Look upon them in wonder and sing hallelujah, for salvation is at hand.   Again.  

Fired up!    

Ready To Go!

I hope Obama and the clap louder crowd at Kos Communications will forgive me, but I’m not fired up.  I’m not ready to go.  The idiocy on full display every hour of every day on the campaign trail exposes how far gone this country’s political system is.  We don’t see any real political debate, we don’t hear any real political commentary, there’s no dialogue about the fundamental problems we’re facing, no real solutions are offered. It’s not a campaign.  It’s a beer commercial.  

Tastes Great!   Less Filling!

U.S. In Distress Corporate capitalism tastes great.  No, it’s less filling.  Gosh, I just can’t decide who’s right, it has so many appealing features.  It’s not perfect yet, but perfection is so close the Beltway binge-drinkers can almost taste it.    

Their friends at the five-hundred billion dollar Beltway Brewery are really cranking out the suds, the bipartisan beer trucks are rumbling down the highways of America, driven by austerity alcoholics with places to go and people to see.  

It’s Happy Hour, it’s always Happy Hour here at the Trickle Down Tavern, so drink up everyone, order another round, put another trillion dollars in the jukebox.  Yeah, I know, Too Big To Fail is the only song on it, but what the hell, get over it, quit pouting and grow up, be a patriotic patriot and praise the plutocrats, they created this paradise of prosperity and are disappointed because we haven’t been grateful enough, so grab a beer-soaked flag and wave it on high.

   

I Am You and You Are Me

It’s hard to say where it went wrong,

Decades before me and this song,

Through the banksters and the wars,

I just can’t take it anymore . . .

Every Banker Had a Good Time

As the leaders of the People’s Republic of Plutocracy, Inc. prepare for the corporate coronations of Romney and Obama in Tampa and Charlotte, they’re fervently hoping Occupy Wall Street won’t spoil all the fun by sending dangerous American citizens into the streets to tell the truth all over the place.  In Beltway offices, Homeland Security meetings, and conference calls with the militarized police departments of the One-Percent, the same questions are being asked about Occupy Wall Street. Who are those people?  Why are they going to the national conventions with protest signs and devious plans to say whatever they want about the government, right out loud, in broad daylight where other citizens might hear them?  What the hell do they think this is, a democracy?  

I’ve got a feeling it’s not going to matter how many riot police are in the streets, pepper-spraying everyone in the twilight’s last gleaming, Americans are going to hear what Occupy Wall Street has to say in Tampa and Charlotte about the “government” and the “job creators” and this trickle down train wreck they call an economy.

Oh yeah . . .

Oh please believe me, I’d hate to miss the train.  Oh yeah.

The chorus of our new national anthem is inspiring, isn’t it?  Feel free to sing along Fox viewers, low information voters, brainwashed birthers and cable pundits, pulpit pounders of the Westboro Baptist Church and Obamabots of the Great Orange Asteroid . . .  

Every worker had a hard year,

Every banker had a good time,

Every general had a wet dream,

Every fat cat saw the sun shine.

Oh yeah.

Subterranean Serfdom Blues

too_big

     Bankers in the basement,            

     Mixing up the medicine,

     I’m on the pavement,

     Thinking about the government.

     The pols in the empty suits,

     Acolytes of Abramoff,

     Say we got a deficit,

     Want to get it paid off.

     Look out kid,

     It’s something you did,

     God knows when,

     But you’re a parasite again.

     Better blink away the pepper spray,

     Duck back down the alley way,

     Your job creator master,

     To pay for his disaster,

     Wants ninety dollar bills,

     You only got ten.

     Obama comes fleet foot,

     Asking for our input,

     Talking ’bout transparency,

     Freedom and democracy,

     But taps our phones anyway,

     Get used to it, ’cause many say,

     They must watch us every day,

     Orders from the NSA.

     Look out kid.

     Look out, look out, look out.

The reason why they will never hold Wall Street accountable

  A lot of people who are hoping that once Obama gets re-elected that he will prosecute the criminals on Wall Street who currently blatantly flaunt the law.

  I hate to shatter naive illusions, but if Obama was ever going to be serious about cracking down on white-collar crime and the rape of the working class he would have already started.

 However, some of you might not be discouraged so easily. For those people I would like to point out that next Wednesday is the 5-year anniversary of the two major Bear Stearns hedge funds filing for bankruptcy. This immediately ended the housing bubble and triggered a credit crunch that eventually led to Lehman Brothers going under and the global economic crisis that is with us today.

 So what has that got to do with prosecuting the criminals on Wall Street? Because the SEC has a 5 year statute of limitations for financial fraud.

The case for prosecuting Wall Street Banks

  What is a criminal enterprise? According to the FBI, a criminal enterprise is:

 a group of individuals with an identified hierarchy, or comparable structure, engaged in significant criminal activity. These organizations often engage in multiple criminal activities and have extensive supporting networks…

 The FBI defines organized crime as any group having some manner of a formalized structure and whose primary objective is to obtain money through illegal activities.

  So have the big banks engaged in multiple criminal activities whose primary objective is to obtain money through illegal activities?

 Consider just the past month:

Manifest Destiny In Reverse

America has never been this fucked up.

That bitter awareness is echoing from one end of reality to the other, it’s rumbling just under the surface of this Wonderland of the One-Percent, it can be heard in the whistling of Wall Street bankers past the graveyard of the economy, in the silence of a million foreclosed homes, in the blowing of the wind through the ragged lines of the unemployed, in the pounding of the waves of karma on the shores of capitalism, where the sandcastles of the American Dream are being swept away, where the piers of the political system are collapsing into the sea, where a long night is falling and the lights along the boardwalk of forgotten freedom are all going out.

North Shore Sunset

An Occupy Wall Street Starving Artist Protest Artwork Sale

Hello Docudharma. You may recognize me from the GOS and if you do you will know that I can do battle(like buhdy used to and I miss his writing as well but all hail TheMomCat anyway whom is awesome) and I can write diaries which I will try to cross post more but for now I have only been inspired by OWS for good reason. Electoral politics is useless and worthless in the age of Obama and sellout Democrats who all voted to keep the filibuster for the most part, for Dolecare, and D- financial reform keeping TBTF with in inadequate stimulus to boot.

I am writing this diary for you because even though you may not be able to afford any of these as we are all broke these days, I figured I would appeal to you anyway just in case as I am now selling OWS protest T-shirts at CafePress showing my original illustrations that other have persuaded me to share in this way. It’s certainly not because I’m going to get rich or really profit much because off of this(though I have donated some of these pieces to Occupy Houston for free) as most of the money goes into making the shirt with my artwork on it, but I am somewhat proud of these pieces I have done while being inspired by the Occupy Wall Street movement. here is my latest and best. I don’t know if I will be able to top this iconic image which kind of sucks, but I think that’s a good accomplishment.

http://www.cafepress.com/price…

‘Paid Detail Unit’ Wall Streets’ Cops

Counterpunch has an excellent piece up on the New York City police and wall street’s  cozy relationship / revolving door.

Especially regarding ‘white shirts’.

And, especially something called the “PDU” – the Paid Detail Unit.


The corporations pay an average of $37 an hour (no medical, no pension benefit, no overtime pay) for a member of the NYPD, with gun, handcuffs and the ability to arrest.  The officer is indemnified by the taxpayer, not the corporation.

New York City gets a 10 percent administrative fee on top of the $37 per hour paid to the police.  The City’s 2011 budget called for $1,184,000 in Paid Detail fees, meaning private corporations were paying  wages of $11.8 million to police participating in the Paid Detail Unit.  The program has more than doubled in revenue to the city since 2002.

Read the whole thing here:

http://www.counterpunch.org/20…

It’s an amazing piece.  Note also the bio of the author: she worked on wall street for more than 2 decades.  

24 Arrested At Citibank: trying to Close Accounts

Still developing, but basically as part of OWS protesters went to a West Village Citibank (I think I used to bank at that branch, long long ago) and attempted to close account en mass.

Video here of a woman outside being dragged in to be arrested:

http://www.twitvid.com/ZUYXO

(ek hornbeck- Here are some embeds courtesy of lambert @ Corrente)

Bank of America, St. Louis 10/4

Bank of America, Santa Cruz 10/7

Citibank, NYC 10/15

Below, I have details on the legality of the arrest.

The Rise Of The 1%

Some rich guys new toy:

A 225 foot yacht ship.

Over the past 4 decades, and accelerating since 2008, the top 1% has gained an ever larger share of the wealth.

Saez and French economist Thomas Piketty have been generating steady academic, governmental and public attention after reporting (in 2008) that from 2002 to 2007, the top 1 percent of American households accounted for about two-thirds of all income gains.

In a 2010 paper titled “Striking it Richer: The Evolution of Top Incomes in the United States,” Saez provided 2007 to 2008 updates on the above-mentioned figures. The winner of a MacArthur Foundation “genius” grant in 2010, Saez found that the average real income for the top percentile fell 19.7 percent (resulting in a drop in the top percentile income share from 23.5 to 20.9 percent), average real income for the bottom 99 percent also fell sharply, by 6.9 percent. For that 99 percent, the drop was, by far, the greatest year-to-year decline since the Great Depression.

And:

Q: What are the key causes for the substantial income gaps in the United States today? What role does the size of the federal deficit play, if any?

A: New technologies and globalization cannot explain the dramatic increase in the U.S. income gaps because countries in continental Europe (such as France or Germany) and Japan are going through the same technological and globalization forces, yet are not experiencing such a dramatic increase in income gaps.

This implies that institutions, government policies and regulations, and social norms play a central role in shaping income gaps. To put things simply, the U.S. income gaps shrunk significantly after the Great Depression with the New Deal policies of stringent regulations and progressive taxation and widened significantly after the Reagan revolution that undid those regulations and progressive taxation.

http://newscenter.berkeley.edu…

Obama didn’t “inherit” the criminality; he joined it.

Photobucket

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