Member Submitted News

Sep 28 10:58

Club Fed

I've been thinking recently of a "free-market" economist who left university teaching to join a regional Federal Reserve Bank, at its lowest professional rank. He was soon bragging about the great lifestyle even for a tyro: high pay, fancy benefits, easy work, chauffeured limos when he traveled, suites at four-star hotels, dinners at the most expensive restaurants in town, all courtesy of the printing press. I told him that his name would be on the list, come the Revolution.

Sep 28 09:24

French to fight police database

David Reid reports on a storm brewing in France over plans to build a database to hold details of people considered likely to breach public order.

Civil liberties groups fear that the new police database, called Edvige, would significantly erode rights to privacy.

Although governments regularly gather and store data about citizens, Edvige would include information about the youngest members of society.

Sep 28 09:17

Is Our "Financial Crisis" A New 9/11? Chumps Think So, And I Do Too

The most prominent common features, in my view, between the so-called "terrorist attacks" of 2001 and the so-called "financial crisis" of 2008 are:

It's an inside job -- a terrorist attack of unprecedented scope and scale -- enabled by statements from politicians and the media which are chock-full of lies and spin.

Sep 28 09:08

The Debate in a Nutshell

McBama favors the Billionaire Bailout.

McBama won't say what programs have to be cut to pay for the Billionaire Bailout.

McBama thinks "we should never hesitate to use military force."

McBama wants to escalate the other unwinnable "land war in Asia" (Afghanistan).

McBama is not sure about whether to start a third unwinnable land war in Asia, against nuclear power Pakistan.

McBama would go to war against Iran for the sake of Israel if necessary. He is not sure if he wants to talk with the Iranians before bombing them.

McBama thinks that Russia is the villain in Georgia.

Sep 28 07:57

Any Way You Parse It, the Proposed Bailout is a Disaster

But like lipstick on a pig, no amount of window dressing, such as protection for homeowners facing foreclosure or limits on bank executive pay, can make this bailout acceptable.

This proposal is simply out and out theft from taxpayers to reward bankers and investors who have been on a binge for too long.

Sep 28 07:53

Here to Stay, 14,000 Strong, and Armed With Non-Lethal Weapons - America, Meet Your New Local Military

“Right now, the response force requirement will be an enduring mission. How the [Defense Department] chooses to source that and whether or not they continue to assign them to NorthCom, that could change in the future. Now, the plan is to assign a force every year.”

A new force, every year. I have yet to find any plans or mentions of this operation ever ceasing.

Sep 28 07:21

Alaskans Demand Accountability from Palin! HUGE Rally!

Historically, anything over 25 people at a sign waving event in Anchorage is a rousing success. I had to remember this. And people may have just had one good rally in them and that was that.

Sep 28 07:13

Brazil's Lula calls US bailout plan unfair to poor

Brazilian President Luiz Inacio Lula da Silva blamed the United States for the global financial crisis and said its financial bailout plan was unfair to poor people.

U.S. lawmakers on Sunday were set to sign off on a deal to create a $700 billion government fund to buy bad debt from ailing banks in a bid to stem a credit crisis threatening the global economy.

"They want to help the banks and not help the poor," Lula said late on Saturday in Sao Paulo during a campaign rally ahead of Oct. 5 municipal elections.

Sep 28 07:03

Palin sends the cringe meter off the dial

No one will be more relieved than John McCain if a major crisis erupts on Thursday to overshadow the debate between the vice-presidential candidates, Sarah Palin and Joe Biden.

Sep 28 07:00

Sarah Palin's Foreign Policy Follies

On balance, she's probably an asset to John McCain. But we should stop pretending that she is ready now or anytime in the forseeable future to be Commander-in-Chief.

Sep 28 06:56

USA Today/Gallop Poll: Obama Did Better in First Debate

A new USA TODAY/Gallup Poll shows 46% of people who watched Friday night's presidential debate say Democrat Barack Obama did a better job than Republican John McCain; 34% said McCain did better.

John McCain, left, and Barack Obama embrace at the finish of a presidential debate at the University of Mississippi in Oxford, Miss., Friday, Sept. 26, 2008.
(Charles Dharapak/AP Photo)

Obama scored even better -- 52%-35% -- when debate-watchers were asked which candidate offered the best proposals for change to solve the country's problems.

Sep 28 02:46

Deal reached on financial markets bailout

WASHINGTON (AP) - Congressional leaders and the Bush administration reached a tentative deal early Sunday on a landmark bailout of imperiled financial markets whose collapse could plunge the nation into a deep recession.

House Speaker Nancy Pelosi announced the $700 billion accord just after midnight but said it still has to be put on paper.

"We've still got more to do to finalize it, but I think we're there," said Treasury Secretary Henry Paulson, who also participated in the negotiations in the Capitol.

Sep 28 00:02

Trouble in Banktopia By Mike Whitney

Sep 27 23:49

'US delivers advanced high- powered radar system to Israel'

The United States has transferred to Israel a new and advanced high-powered radar system that will improve Israel's reaction time to an Iranian missile strike, the Defense News Magazine reported over the weekend.

Sep 27 23:28

Russian Envoy: U.S. could use Georgia as bridgehead to attack Iran

If the U.S. was to use Georgia as a bridge head to attack Iran, then who was the U.S. official who gave Saakashvili the "green light" to attack South Ossetia?

Sep 27 22:33

Guess who was in the room with Paulson when he decided to save AIG?

Goldman was entangled with AIG to the tune of $20 billion. No wonder AIG got bailed out!

Wall Street's Infinite Sleaze: Goldman and AIG
By Dean Baker - September 27, 2008, 10:21PM

Sep 27 21:24

McCain never showed up at Capitol Hill for bailout negotiations today.

After declaring he’d return to Washington to help with the bailout negotiations immediately after last night’s debate, Sen. John McCain (R-AZ) never went to Capitol Hill today. In fact, McCain stayed largely holed up in his Arlington apartment, leaving only to go to his campaign headquarters just around the block, the New York Times reports:

Asked why Mr. McCain did not go to Capitol Hill after coming back to Washington to help with negotiations, [McCain adviser] Mr. Salter replied that "he can effectively do what he needs to do by phone."

Sep 27 21:17

A shattering moment in America's fall from power

The global financial crisis will see the US falter in the same way the Soviet Union did when the Berlin Wall came down. The era of American dominance is over.

Sep 27 19:55

Introducing: The Voter Bomb!

Official launch is set for Monday. The point of the site is to vote out every single incumbent of the entire House of Representatives! All 435 members are up for re-election, as well as 35 US Senators. This is our chance to wipe the slate clean and start anew in 2009 if we can spread the word fast enough before the election.

Sep 27 19:40

ID cards are doomed to fail

As civil libertarians like to remind us, one of Hitler's first acts as chancellor was to impose compulsory ID cards on every German citizen. If the smiling Ms Smith's ID card was the beginning of the totalitarian state in Britain, it came not with a bang but a simper.

Still, it has taken six votes in the Commons, and five defeats in the House of Lords, for the Government to get this far. And the price of getting around the legislative obstacle course has been that ministers had to give up their original hope of making ID cards compulsory.

Sep 27 18:26

Fox News calls Ron Paul economic genius!


Sep 27 17:07

McCain: ‘When They Call It a Tie That Means We Win’

The debate reviews are in, and here’s one from one of the debaters himself:

“I was a little disappointed the media called it a tie, but I think that means when they call it a tie that means we win,’’ Mr. McCain was recorded by a television crew as saying on Saturday afternoon in a telephone call to Representative Chip Pickering, Republican of Mississippi.

Sep 27 16:57

[Video] McCain Curses At Debate

Did I just hear the word "horseshit"?


In a presidential debate?

Here's an article to refresh your memory about Obama's comment, John:


Sep 27 16:33

Mad Dog Palin

Sarah Palin is a symbol of everything that is wrong with the modern United States. As a representative of our political system, she's a new low in reptilian villainy, the ultimate cynical masterwork of puppeteers like Karl Rove. But more than that, she is a horrifying symbol of how little we ask for in return for the total surrender of our political power.

Sep 27 16:26

National Protests Erupt Over Bailout Plan

The George W. Bush administration's plan to spend hundreds of billions of dollars to rescue giant Wall Street firms from their current financial meltdown has unleashed a spontaneous wave of protests across the United States.

Protesters said they want the Congress to protect millions of U.S. citizens who are on the verge of losing their homes due to bad lending practices of creditors instead of doling out public money to big investment firms responsible for ruining the economy.

Sep 27 16:24

BBC investigated after peer says climate change programme was biased 'one-sided polemic'

The BBC is being investigated by television watchdogs after a leading climate change sceptic claimed his views were deliberately misrepresented.

Lord Monckton, a former adviser to Margaret Thatcher, says he was made to look like a ‘potty peer’ on a TV programme that ‘was a one-sided polemic for the new religion of global warming’.

Earth: The Climate Wars, which was broadcast on BBC 2, was billed as a definitive guide to the history of global warming, including arguments for and against.

Sep 27 16:13

McDonald’s Deemed More Credit-Worthy than U.S. Government

The State of Finland and fast-food chain McDonald’s are now deemed more credit-worthy than the U.S. when measured by prices of CDS-derivatives (credit default swaps).