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Latest Articles: United States News
The Federal Reserve and Bank of America Initiate a Coup to Dump Billions of Dollars of Losses on the American Taxpayer
Post Date: 2011-10-19 19:01:50 by A K A Stone
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Bloomberg reports that Bank of America is dumping derivatives onto a subsidiary which is insured by the government – i.e. taxpayers. Yves Smith notes: If you have any doubt that Bank of America is going down, this development should settle it …. Both [professor of economics and law, and former head S&L prosecutor] Bill Black (who I interviewed just now) and I see this as a desperate move by Bank of America’s management, a de facto admission that they know the bank is in serious trouble. The short form via Bloomberg: Bank of America Corp. (BAC), hit by a credit downgrade last month, has moved derivatives from its Merrill Lynch unit to a subsidiary flush with insured ...
Son of Stuxnet? Researchers Warn of Impending Cyber Attack
Post Date: 2011-10-19 18:59:39 by A K A Stone
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A new computer virus using "nearly identical" parts of the cyber superweapon Stuxnet has been detected on computer systems in Europe and is believed to be a precursor to a new Stuxnet-like attack, a major U.S.-based cyber security company said today. Stuxnet was a highly sophisticated computer worm that was discovered last year and was thought to have successfully targeted and disrupted systems at a nuclear enrichment plant in Iran. At the time, U.S. officials said the worm's unprecedented complexity and potential ability to physically sabotage industrial control systems -- which run everything from water plants to the power grid in the U.S. and in many countries around the ...
Courts Rule US Government Above the Law
Post Date: 2011-10-19 18:57:01 by A K A Stone
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Manhattan Federal Judge Alvin Hellerstein has declinedto hold the CIA in contempt for destroying videos that it had been ordered by the courts to preserve.
The case revolves around 92 videos, depicting hundreds of hours of interrogations of detainees. The tapes allegedly contained evidence of torture, and the CIA was ordered by numerous courts to produce the videos in relation to lawsuits arising from torture allegations. The 9/11 Commission also demanded that the tapes be produced. Instead, the agency destroyed them.
Although the Obama Justice Department had already decided last year that no criminal charges would be filed for this blatant obstruction of justice, Judge ...
Reid signals government jobs must take priority over private-sector jobs
Post Date: 2011-10-19 18:47:22 by A K A Stone
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Senate Majority Leader Harry Reid (D-Nev.) on Wednesday indicated Congress needs to worry about government jobs more than private-sector jobs, and that this is why Senate Democrats are pushing a bill aimed at shoring up teachers and first-responders. "It's very clear that private-sector jobs have been doing just fine; it's the public-sector jobs where we've lost huge numbers, and that's what this legislation is all about," Reid said on the Senate floor. Reid was responding to recent comments from Senate Minority Leader Mitch McConnell (R-Ky.), who accused Democrats of purposefully pursuing higher taxes as part of the teacher/first-responder bill, S. 1723, so that ...
Rand Paul stalls Senate education bill
Post Date: 2011-10-19 18:37:22 by A K A Stone
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Republican Sen. Rand Paul may not have the clout in Congress to reach his goal of eliminating the Department of Education, but he can do a close second: shut down the Senate committee trying to pass sweeping new federal education legislation. The Kentucky senator dug deep into the procedural arsenal Wednesday to halt the committee that was meeting to revamp the No Child Left Behind legislation. The bill has broad bipartisan support and was expected to clear the panel later this week. Senate rules limit committee meetings to two hours while the Senate is in session – a rule that is routinely broken with unanimous agreement of the senators. But as is the case in the Senate, any one ...
Demon From Hell Debbie Wasserman Schultz To Republicans: Stop Demonizing us
Post Date: 2011-10-19 18:29:10 by A K A Stone
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DNC Chairwoman Debbie Wasserman Schultz calls out Republicans for their "irresponsible negative demonization" of Democratic pols and ideas.
(CLASS Act Flushed) New healthcare fight is joined as administration's 2010 law implodes
Post Date: 2011-10-19 18:10:58 by CZ82
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New healthcare fight is joined as administration's 2010 law implodes By Julian Pecquet - 10/17/11 08:20 PM ET Congressional Republicans on Monday called for the immediate repeal of a major component of the 2010 healthcare reform law as the issue blew up in the administration’s face. The seemingly unworkable long-term care benefit contained in the health overhaul has been indefinitely shelved, quickly triggering a new offensive from GOP lawmakers that is expected to put congressional Democrats in a politically awkward position. The administration announced late Friday it did not see a way to make the long-term care CLASS Act, which was crafted by the late Sen. Edward Kennedy ...
Labor Is Poised For A Big Victory In Ohio As SB 5 Headed For Rejection
Post Date: 2011-10-19 17:21:05 by Brian S
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Labor is poised for a big victory in Ohio next month- PPP's newest poll of the state finds that voters intend to reject Senate Bill 5 by a 56-36 margin. Although that margin is consistent with what we found in the state earlier this year, when we polled Ohio in August the support for repealing SB 5 had tightened to 50-39. These numbers suggest that momentum is back on the side of the groups trying to kill the bill. The preferences of Republicans and independents on Senate Bill 5 are mostly unchanged from two months ago. Independents are evenly divided on the issue, 46/46. And Republicans want to uphold it 61/30. But Democrats have unified in their support for repealing SB ...
BofA Said to Split Regulators Over Moving Merrill Derivatives to Bank Unit
Post Date: 2011-10-19 15:08:37 by nolu chan
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BofA Said to Split Regulators Over Moving Merrill Derivatives to Bank Unit By Bob Ivry, Hugh Son and Christine Harper - Bank of America Corp. (BAC), hit by a credit downgrade last month, has moved derivatives from its Merrill Lynch unit to a subsidiary flush with insured deposits, according to people with direct knowledge of the situation. The Federal Reserve and Federal Deposit Insurance Corp. disagree over the transfers, which are being requested by counterparties, said the people, who asked to remain anonymous because they weren’t authorized to speak publicly. The Fed has signaled that it favors moving the derivatives to give relief to the bank holding company, while the FDIC, ...
Stuxnet Clone 'Duqu' Possibly Preparing Power Plant Attacks
Post Date: 2011-10-19 13:17:14 by Brian S
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Security researchers have detected a new Trojan, scarily similar to the infamous Stuxnet worm, which could disrupt computers controlling power plants, oil refineries and other critical infrastructure networks. The Trojan, dubbed "Duqu" by the security firm Symantec, appears, based on its code, to have been written by the same authors as the Stuxnet worm, which last July was used to cripple an Iranian nuclear-fuel processing plant. "Stuxnet source code is not out there," wrote F-Secure cybersecurity expert Mikko Hyppönen on his firm's blog. "Only the original authors have it. So, this new backdoor was created by the same party that created Stuxnet." ...
Michele Bachmann: Obama 'Put Us In Libya. He Is Now Putting Us In Africa'
Post Date: 2011-10-19 12:45:30 by mininggold
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Michele Bachmann: Obama 'Put Us In Libya. He Is Now Putting Us In Africa' (VIDEO) Rep. Michele Bachmann (R-Minn.) criticized President Obama's foreign policy during Tuesday night's CNN debate, saying, "Now with the president, he put us in Libya. He is now putting us in Africa. We already were stretched too thin, and he put our special operations forces in Africa," she said. Libya, it should be noted, is in Africa. (video and rest of article at link)
Vegas debate: Ron Paul rips Herman Cain over Occupy Wall Street
Post Date: 2011-10-19 10:08:07 by go65
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Even Ron Paul is jumping on Herman Cain at the CNN debate in Las Vegas — this time over Cain’s comments about the Occupy Wall Street movement. After Cain, who has been under siege for most of the night, doubled down on his previous comments that the protesters shouldn’t be blaming Wall Street for their woes, Paul accused the former pizza executive of having no sympathy for Americans who are down on their luck. “I think Mr. Cain has blamed the victims,” the Texas Republican said. “There are a lot of people who are victims of this business cycle.” And Paul delivered a veiled attack on Cain’s past as a member of a regional board of directors of the ...
Obama: Republicans Want ‘Dirtier Air, Dirtier Water’
Post Date: 2011-10-19 07:26:22 by CZ82
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Obama: Republicans Want ‘Dirtier Air, Dirtier Water’ By Fred Lucas October 17, 2011 (CNSNews.com) – President Barack Obama said the Republican jobs proposal, released last week, would mean “dirtier air, dirtier water, less people with health insurance.” “The Republican plan says that what’s been standing in the way between us and full employment are laws that keep companies from polluting as much as they want,” Obama said in a speech at the regional airport in Asheville, N.C., on Monday. “On the other hand, our plan [Obama’s plan] puts teachers, construction workers, firefighters and police officers back on the job.” “My plan ...
Study: Cain Tax Plan Raises Taxes On 84 Percent
Post Date: 2011-10-18 17:41:34 by Brian S
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(10-18) 13:52 PDT WASHINGTON, (AP) -- A new study says the 9-9-9 tax plan promoted by Republican presidential candidate Herman Cain would raise taxes on 84 percent of U.S. households, contradicting claims by the candidate that most would see a tax cut. The Tax Policy Center, a Washington think tank, says low- and middle-income families would be hit hardest, with households making between $10,000 and $20,000 seeing their taxes increase by nearly 950 percent. Those making more than $1 million a year would see their taxes cut nearly in half, on average. Cain's plan would scrap current taxes on income, payroll, capital gains and corporate profits. He would replace them with a 9 percent ...
67 Percent Of New Yorkers Support OWS, 87 Percent Say Have Right To Camp Out
Post Date: 2011-10-18 15:56:09 by Brian S
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These are the people who see the Wall Street types the most, so it's no surprise. Anti-Wall Street protests have won broad support among New York City voters, who would overwhelmingly favor tougher regulations on the financial industry, new poll results showed Monday. Sixty-seven percent of those who responded to a Quinnipiac University survey said they agreed with the Occupy Wall Street protesters, who are upset that banks were allowed to earn huge profits after being bailed out during the recession, while average Americans remained under financial strain.An even wider margin, 87 percent, agreed with the protesters' right to camp out in Lower Manhattan, as long as they obeyed the ...
TOTUS Kidnapped [No Ransom Note Recieved Yet]
Post Date: 2011-10-18 14:33:16 by Capitalist Eric
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Fox reports that the Teleprompter of the United States has been kidnapped: There was a brief scare last night for President Obama after someone stole his teleprompter, according to WWBT-TV in Richmond. The Teleprompter of the United States (TOTUS) was inside a truck filled with President Obama’s podiums and audio equipment. WWBT reported that thieves took the truck just days before the president’s visit to Chesterfield, VA. Sources told the television station that the equipment was valued at nearly $200,000 and included several presidential seals. President Obama is rarely seen without TOTUS.source: Fox News Weekly World News: Totus has long be a loyal and patriotic ...
The Tea Party Movement, Republicans, and Ron Paul
Post Date: 2011-10-18 14:24:39 by Capitalist Eric
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Within the last few years, a phenomenon emerged to become among the most formidable forces in contemporary American politics. It goes by the name of “the Tea Party movement.” Supposedly, the Tea Party movement is not affiliated with either of our two national political parties. Rather, it is composed of millions of ordinary Americans who, jealous as they are of the liberties bequeathed to them by their progenitors, find intolerable the gargantuan proportions to which the federal government has grown. This, at any rate, is the conventional account of the genesis and character of the Tea Party movement. I once endorsed it. Sadly, I no longer can. It is my considered judgment ...
The First Teleprompter kidnapped! Barry finally shuts up
Post Date: 2011-10-18 08:22:27 by Happy Quanzaa
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Thieves steal truck with President's equipment HENRICO, VA (WWBT) – NBC12 has uncovered one of those stories that makes you think: "How in the world does that happen?!" A truck filled with President Obama's podiums and audio equipment was stolen in Henrico just days before his visit to Chesterfield. We confirmed an investigation with the U.S. Defense Department. There are still a lot of questions. The biggest one being did the thieves intentionally target the President's truck or did they take advantage of a crime of opportunity and give a big "uh-oh" when they saw what was inside. When you see President Obama speak, there is a pretty typical setup ...
Red Star Over Iraq
Post Date: 2011-10-17 23:43:39 by A K A Stone
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It may be the start of the biggest oil job in the world. Each day, 20 workers from BP and China National Petroleum Corp. (CNPC) buckle down to the task of prepping the Rumaila oil field in southern Iraq for rapid development. In industry lingo, Rumaila is a "supergiant"—a 50-mile-long deposit of sweet crude with estimated reserves of 16 billion barrels, whose output may someday rank second only to Saudi Arabia's vast Ghawar field. The Saudis, though, have carefully managed their oil assets for decades. In contrast, Rumaila, a lightly inhabited expanse of date groves and Bedouin encampments, has not had a proper upgrade since the 1970s. The Iraqis contracted with BP and ...
America’s Secret Drone Empire
Post Date: 2011-10-17 23:00:42 by A K A Stone
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They increasingly dot the planet. There's a facility outside Las Vegas where "pilots" work in climate-controlled trailers, another at a dusty camp in Africa formerly used by the French Foreign Legion, a third at a big air base in Afghanistan where Air Force personnel sit in front of multiple computer screens, and a fourth at an air base in the United Arab Emirates that almost no one talks about. And that leaves at least 56 more such facilities to mention in an expanding American empire of unmanned drone bases being set up worldwide. Despite frequent news reports on the drone assassination campaign launched in support of America's ever-widening undeclared wars and a spate ...
Solid Citizen Herman Cain Now Outpolling Ghetto Pimp Obama
Post Date: 2011-10-17 16:09:35 by no gnu taxes
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Whether Herman Cain’s surge in the polls is temporary or has staying power, he’s enjoying a big enough bounce to take a very slight lead over President Obama in a hypothetical 2012 matchup. At the moment, the Georgia businessman is the only Republican with a lead of any kind over Obama, although former Massachusetts Governor Mitt Romney has held a similar advantage several times and is currently trailing the president by just two points. The latest Rasmussen Reports national telephone survey of Likely U.S. Voters shows Cain attracting 43% support, while Obama earns 41%. Given such a matchup, eight percent (8%) prefer some other candidate, and another eight percent (8%) are ...
The Dawn of Late Fascism
Post Date: 2011-10-17 13:23:39 by Capitalist Eric
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The downgrading of US debt this summer didn’t have huge economic consequences, but the psychological ones were truly devastating for the national elites who have run this country for nearly a century. For a State that regards itself as infallible, it was a huge blow that market forces delivered against the government, and it is only one of thousands that have cut against the power elite in recent years. Another recent example was the vanishing of the much-vaunted Obama jobs bill. He pushed hard for this scheme for a month. He made an FDR-like national speech that attempted to whip up a public frenzy. He promised that if the legislature passed his law, supply and demand for workers ...
1 TheDC Morning: Commies and Nazis sure do like Occupy Wall Street
Post Date: 2011-10-17 12:46:48 by calcon
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1.) Commies and Nazis sure do like Occupy Wall Street — More and more Americans are standing up and being counted among the 99%, as TheDC’s David Martosko reports: “In a move that may redefine the term ‘strange bedfellows,’ the American Nazi Party issued an official endorsement of the Occupy Wall Street protest movement on Sunday afternoon. The announcement put the organization, a self-described ‘National Socialist’ political party, in company with the Socialist Party USA, which explained its own support for the left-wing protesters in a nationwide conference call last Tuesday night, crediting organized labor with the protests’ strength and ...
Obama Jobs Roadshow Seeks To Tap Anti-Wall Street Anger
Post Date: 2011-10-17 11:52:26 by Brian S
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(Reuters) - President Barack Obama will seek to tap into public anger at Wall Street excess to turn up the heat on congressional Republicans as he embarks on a campaign-style bus tour on Monday to rally support for his stalled jobs package. Hitting the road for the next three days, Obama heads to North Carolina and Virginia, both vital to his 2012 re-election chances, with an increasingly populist approach aimed at winning passage of at least parts of his $447 billion jobs plan. His visits to two pivotal Southern states come against the backdrop of protests against corporate greed and economic inequality that began weeks ago in New York and have spread to other cities, inspiring global ...
Ron Paul to propose $1T in specific budget cuts
Post Date: 2011-10-17 11:28:47 by A K A Stone
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Ron Paul’s opinions about cutting the budget are well-known, but on Monday, he’ll get specific: the Texas congressman will lay out a budget blueprint for deep and far-reaching cuts to federal spending, including the elimination of five cabinet-level departments and the drawdown of American troops fighting overseas. There will even be a symbolic readjustment of the president’s own salary to put it in line with the average American salary. During an afternoon speech in Las Vegas ahead of Tuesday’s debate, Paul will say that his plan for $1 trillion in cuts will create a balanced federal budget by the third year of his presidency. “Dr. Paul is the only candidate ...
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