Articles/News

The True Levellers Standard Advanced: Or, The State of Community Opened, and Presented to the Sons of Men.

Reader: This is far less contemporary, 1649 CE to be more precise, and Gerrard Winstanley, as the rural representative of the English Levelers, was important for several reasons. His piece as in treating the commons as it was intended under the Covenant of the Forest (it is archived in the pamphlets and Papers section here) was possibly the earliest push back against the hedging or privatization of the commons by the Monarchy and the wealthy which generally acted in whose interests.

Class Action Law Suit Claims "Lender" Destroyed Records

Readers: First this article continues a financial myth that the mortgage issuer is "lending" the mortgagee money, which is flatly wrong. It is the signature of the mortgagee upon the contractual document known as a "mortgage" which gives that "mortgage" value. The degree of leveraging perpetrated in reselling or securitizing this contract as an asset remains generally a mystery,and it could easily be near infinite.

L.E.T.S. C.R.E.-ate a more Cooperative and Community Friendly Economics

Readers: see http://www.economics.arawakcity.org/node/699 for a much more detail version 08/18/10

The Time Has Come for Direct Job Creation By L. Randall Wray

According to an ILO report[15] issued before the global economic crisis hit, even though more people were working than ever before, the number of unemployed was also at an all time high of nearly 200 million. Further, "strong economic growth of the last half decade has only had a slight impact on the reduction of workers who live with their families in poverty...", in part because the growth was fueling productivity growth (up 26% in the past decade) but was not creating many new jobs (up only 16.6%).

"Abraham Lincoln's Monetary Policy"

Readers: Apparently this document represents a research project in need of some scholarship.  This document was checked for authenticity by faculty of the University of Missouri, Kansas City Department of Economics. Their commentary comes next. I will follow that with a comment based upoin the general historical context, that begins with identifying Abraham Lincoln as having been a Henry Clay sort of Whig before there was a Republican Party.

New Shockwaves From Courts and Accounting Board The Next Financial Crisis Hits Wall Street, as Judges Start Nixing Foreclosures

http://www.counterpunch.org/martens10212009.html
By PAM MARTENS

The financial tsunami unleashed by Wall Street’s esurient alchemy of spinning toxic home mortgages into triple-A bonds, a process known as securitization, has set off its second round of financial tremors.

Goldman Sachs’s Griffiths Says Inequality Helps All

 Readers: this essay represents one of those moments of naive truth, at least as voiced within the language  of those who presume without hesitation to be our betters. This a high proof extraction of nearly pure elitist contempt for the toiling classes. Some how the keeper for this corporate toadie must have away taking a pottie break. Griffths's statement is well worth being reposted in mile high font, for even those who would rather deny than comprehend the rationalization for toiless wealth.

Moral Of Galleon Insider-Trading Bust: Only Fools Try To Beat The Street

Henry Blodget Oct. 19, 2009, 

 http://www.businessinsider.com/henry-blodget-moral-of-galleon-insider-trading-bust-only-fools-try-to-beat-the-street-2009-10

Wall Street's Naked Swindle A scheme to flood the market with counterfeit stocks helped kill Bear Stearns and Lehman Brothers —

 URL: http://www.rollingstone.com/politics/story/30481512/wall_streets_naked_s...

Posted Oct 14, 2009 9:30 AM

On Tuesday, March 11th, 2008, somebody — nobody knows who — made one of the craziest bets Wall Street has ever seen. The mystery figure spent $1.7 million on a series of options, gambling that shares in the venerable investment bank Bear Stearns would lose more than half their value in nine days or less. It was madness — "like buying 1.7 million lottery tickets," according to one financial analyst.

SEC Names Goldman’s Storch as Enforcement Unit Operations Chief

 Readers: This one is preposterously arrogant to the extreme, not the article, but the appointment. Perhaps we should call this insider "regulation" meaning prejudiced, intentionally subverted, and vacuous. Do these people even understand the concept of conflict of interest except as an opportunity to enrich themselves and their cronies. This is how the criminals take over the justice system and subvert law and order as it will benefit their mob. That B.H.

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