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Readers: This represents a somewhat different perspective and has some analytical flaws which I will comment on later. PROUT can be an adequate starting point for the transformation of economic practices. The point being made by this inclusion is that at least this position does not attempt to validate and justify oligarchy and greed which underlies much of the econo-theology of "Free Market" capitalism, imo.This article also comes from Venezuela, which is attempting to establish a 21st century socialism. What that goal implies or what the outcome will be is for a different time. Admin

Still Doing God’s Work on Wall Street By Robert Scheer

Jail, anyone? Perhaps that’s too harsh, and at any rate premature, but is anyone ever going to be held accountable for the behind-the-scenes sweetheart deals that passed tens of billions of taxpayer dollars through the AIG shell game to the very banks that caused the financial meltdown? Or for the many other acts of double-dealing that left one out of three American homeowners owing much more than their houses were worth while the folks who swindled them were rewarded with hundreds of billions in public money?

FINANCIAL CRISIS Proposal to allow breakup of huge banks gains momentum

Los Angeles Times,0,2069502.story
In the U.S. and abroad, support grows for giving regulators the
authority to preemptively dismantle giant financial institutions
whose collapse could cripple the economy.

And here's Jamie the soon to be new Wall Street cheerleader
Jamie Dimon, chief executive of JP Morgan Chase, recently said
in an opinion piece that "capping the size of American banks won't
eliminate the needs of big businesses," he said. "It will force them

Why is Obama Championing Bush’s Financial Wrecking Crew? By William K. Black

Reader: William K. Black speaks very clearly and from substantial experience gained from prosecuting white collar crime. Few others have this aptitude and experience in addressing a criminogenic culture. His use of "theo-classical economics" is both adept by its twist of "neo-classical economics," and fairly close to the notion of "faith based economics." Admin

"First Published at New Deal 2.0"

Jamie Dimon (of J.P. Morgan Chase) seen as good fit for Treasury By MARK DeCAMBRE

Readers: Despite the complements toward Dimon he is out of exactly the same club of which Gethner was a member. This represents first and foremost a change of faces only, and really nothing more. If this constitutes a "Good Fit," then we are still in very deep trouble. Obama has deferred again to Wall Street and to the same crew that created the ongoing collapse. Though Dimon has a reputation of favoring the DNC, it really makes little difference.

Fed Beaten: Bill To Audit Federal Reserve Passes Key Hurdle by Ryan Grim


In an unprecedented defeat for the Federal Reserve, an amendment to audit the multi-trillion dollar institution was approved by the House Finance Committee with an overwhelming and bipartisan 43-26 vote on Thursday afternoon despite harried last-minute lobbying from top Fed officials and the surprise opposition of Chairman Barney Frank (D-Mass.), who had previously been a supporter.

The Land Ethic: How to Address Inequality and Financial Instability by Alanna Hartzok, Oct. 20, 2009  

published on Global Policy Innovations, which has this mission: To highlight the best new thinking on a fairer globalization. Launched in April 2004 with the support of the Rockefeller Brothers Fund, Global Policy Innovations is based at the Carnegie Council in New York City. The Land Ethic at:

The Transformation as Sandbox Syndrome by Michael Marien

Readers: In the task of increasing economic literacy in its many variations the transformation of what is understood by the word "economics" and the assumptions that many people have whiche cause them to substitute a low toned version of economistic nonsense for the high toned economistic toxic sewage there is a common pattern. It is one reason for the chaotic nature of the Tea-bagger's faux revolt, looking for simple answers and someone else to blame for it all. It also produces the reflexive sorts of Marxism which have a lot of dogma but little sense of application or constructive process.

"Global Warming" SCAM - A Further Look By Karl Denninger of the Market Ticker Blog, Nov. 21st, 2009

Readers: This may seem like an odd inclusion, but we need to point out that the recent interest and support of the global warming proposition didn't get serious until the potential to make money off of carbon futures as a derivative was established. In effect the process was canted and scammed and now it has been outed. The financialization of global warming was qued to generate large fortunes, when combined with various proposed carbon taxation policies. Given the cooling effect of volcanic ash in the stratosphere the much predicted global warming panic has subsided.

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