Wednesday, September 21, 2011

Tuesday, September 20, 2011

Banking Establishment Ripoff Exposed in MSM

Thinking Americans know the sordid story:

Since the financial crisis, Bank profits are UP 136%... But Bank lending is down 9%.

Perhaps a more interesting story is that this is featured in a mainstream media article; Time Magazine, September 26, 2011, "After Three Years and Trillions of Dollars, Our Banks Still Don't Work."

I could take issue with the phrase "our banks;" yes, we should "own" them having bailed them out, but frankly, instead of we owning the banks, the banks turned the US Treasury and Federal Reserve into lending institutions for the benefit of the banks and the people reaping profits from those corporations.

But, don't let me tarnish the good news with side issues. Time Magazine deserves credit where it is due.


Saturday, September 10, 2011

We Didn't See it Coming

For Some reason, my comments on Paul Krugman's blog don't seem to stick. Below is my comment on his post entitled: How We Failed

The "We didn't see it coming" thing drives me crazy. My experience in seeing it [the bubble burst] coming is reflected in three clear memories.

First, The Great Unraveling by... some economist from NJ, pretty much had me change my ARM to a fixed rate mortgage a couple years before the bust.

Second, people with good jobs in my solid middle class neighborhood were saying, "If I had to buy my [modest row] house today, I couldn't afford it." I remember exactly where I was, walking my dog.

Third, it was going to by systemic: "Systemic Risk: Fannie Mae, Freddie Mac and the Role of OFEHO," February, 2003, which lost Armamndo Falcon his job.


Sunday, September 4, 2011

Israel's Spring

Israel is a country where a tiny minority of families and individuals control a hugely disproportionate amount of wealth.

Last Saturday [Aug 6], hundreds of thousands of protesters took to the streets of a Middle Eastern city.

Demanding change, they were fed up with the ruling elite and said their government was no longer listening to its people.

Sound familiar? The protests have continued and have grown.

Source: BBC Israel's 'social protests' rattle Netanyahu government Aug, 12, 2011.

Will the US have its own version? If policy makers continue on their same path we will. An early test will be October 6, 2011 in Washington, DC.

Oct. 6
14th & Pennsylvania, Ave., NW
12 Noon

Tag Line:
Human Need, Not Corporate Greed. This is an occupation.

More on Oct. 6 DC Day 1 of the US Spring


Friday, September 2, 2011

Democracy-building in Maryland

Taking Back the Budget Debate


Tues., Sept. 20, 7:30 p.m.
Silver Spring Civic Center
One Veterans’ Place (Fenton & Ellsworth)
Silver Spring

Turn your anger and outrage over the budget deal into ACTION!

Speakers: Rep. Donna Edwards, State Senator Roger Manno, economist Heather Boushey, IPS Fellow Karen Dolan
Master of Ceremonies: The NAACP’s Elbridge James
Music: Singer/songwriter Christina Van Norman

You will have the opportunity to ask your questions and then to help us organize for real, progressive solutions.

Here’s our action agenda:

* Put America back to work
* Institute a fair tax system
* Protect Americans’ health and save the environment
* Preserve Social Security
* Bring all the troops and military contractors home

Don’t miss this important event--invite all your friends!

Our Money . . . Our Voices . . . Our Budget Priorities

Sponsored by Fund Our Communities, Bring the War Dollars Home
A Maryland Coalition