"We owe them imitation. We owe them the continuation of that spirit that we do not have to just accept what is handed to us. We can battle back against the powers. But it's not just going to a rally and shouting. It's organizing and it's thinking. And reaching out to others. And building a real people's movement."The Mainstream Media Doesn’t Know Sh*t About Securities Law or the Goldman Case
Damien Hoffman of Wall St. Cheat Sheet writes: "Last week Barry Ritholtz had an excellent post 10 Things You Don’t Know (or were misinformed) About the GS Case in which Barry noted that 99% of the mainstream media commentary regarding the strength of the SEC’s case is, of course, completely uninformed conjecture.I sat down with Barry, who is a lawyer with experience in securities law, to get an insightful take on the SEC’s case against Goldman Sachs (GS)."
Goldman's "Social License"
Wall Street Reportedly Circulates Class Warfare Email
Ryan McCarthy reports for the Huffingotn Post: "The Reformed Broker and FT Alphaville have gotten a hold of an email that is reportedly making its way through inboxes on Wall Street. For anyone with even a scintilla of knowledge of Wall Street's excesses in the past decade or so, the email itself is hard to stomach. By turns, it takes shot at unionized teachers, the Obama administration and 'average Joes.'"
Financial Reform Bill 101: What it Means for Consumers
Photo: Harry Hamburg/AP
Predatory Lending: New Cop on the Beat
Greg Kaufman writes for The Nation: "Congressman Jerrold Nadler, Chair of the House Judiciary Subcommittee on the Constitution, Civil Rights and Civil Liberties, held a hearing yesterday on Combating Predatory Lending Under the Fair Housing Act. In his opening statement, Chairman Nadler spoke of "redlining" in the past, when people of color were denied credit based on race rather than creditworthiness, and the practice was 'simply drawing a red line around a minority neighborhood and refusing to lend in that area.'"
Yes, Virginia, There Is a Legitimate Case Against Free Trade
Photo: Jared Rodriguez / t r u t h o u t
Noam Chomsky may be most widely known for his work in the field of linguistics but he is also known for his activism and outspoken criticism of United States policies, especially it's foreign policy. Chomsky is also said to be "the most often cited living author" and "one of the most respected and influential intellectuals in the world". Download MP3 file at:
BP Had Other Problems in Years Leading to Gulf Spill
Abrahm Lustgarten reports for ProPublica: "BP, the global oil giant responsible for the fast-spreading spill in the Gulf of Mexico that will soon make landfall, is no stranger to major accidents. In fact, the company has found itself at the center of several of the nation's worst oil and gas–related disasters in the last five years."
Gulf Coast Oil Spill: 'Exxon Valdez Is Going to Pale in Comparison to This'
The Dirty Secrets Of Offshore Drilling (PHOTOS)
Travis Walter Donovan writes for the Huffington Post: "President Obama's recent announcement to open up areas that have been off limits to offshore drilling came as a shock to many. Then the tragic accident at an offshore rig in the Gulf of Mexico reminded the the country why offshore drilling was banned in so many areas to begin with, as 11 are still missing and presumed dead from the explosion--and 5,000 barrels of oil continue to pour every day into the ocean. The United States produces about 1.5 million barrels of oil a day from offshore drilling, but consumes 21 million barrels a day. Here are 7 dirty secrets the advocates of offshore drilling don't want you to know."
Chemicals Meant To Break Up BP Oil Spill Present New Environmental Concerns
Abrahm Lustgarten, ProPublica: "The chemicals BP is now relying on to break up the steady flow of leaking oil from deep below the Gulf of Mexico could create a new set of environmental problems. Even if the materials, called dispersants, are effective, BP has already bought up more than a third of the world’s supply. If the leak from 5,000 feet beneath the surface continues for weeks, or months, that stockpile could run out."
Behind the Arizona Immigration Law: GOP Game to Swipe the November Election
Greg Palast writes for Truthout: "Don't be fooled. The way the media plays the story, it was a wave of racist, anti-immigrant hysteria that moved Arizona Republicans to pass a sick little law, signed last week, requiring every person in the state to carry papers proving they are US citizens. I don't buy it. Anti-Hispanic hysteria has always been as much a part of Arizona as the Saguaro cactus and excessive air-conditioning."
Arizona Ethnic Studies Classes Banned, Teachers With Accents Can No Longer Teach English
The Huffington Post writes: "Arizona's new immigration law is just about crime, its supporters say, but given that the state's new education policy equates ethnic studies programs with high treason, they may not be using the commonly accepted definition of 'crime.' Under the ban, sent to Arizona Gov. Jan Brewer by the state legislature Thursday, schools will lose state funding if they offer any courses that 'promote the overthrow of the U.S. government, promote resentment of a particular race or class of people, are designed primarily for students of a particular ethnic group or advocate ethnic solidarity instead of the treatment of pupils as individuals.'"
State of Disgrace: The Right Fiddles While Arizona Burns
Photo: CBS News
Immigration and Diversity in America
Kevin Powell comments for The Huffington Post: "Arizona has a very serious problem. Arizona's problem is us. It does not want us here. I am paraphrasing words spoken by Malcolm X back in the 1960s in reference to the American racial segregation policies of those times. Those words could have been spoken in any era of our country's history. The word "us" could refer to Native Americans. Or Irish Americans. Or Italian Americans. Or Jewish people. Or to the Chinese who were excluded from certain communities and states. Or to the Japanese detained during World War II. Or to Arabs and Muslims, especially since September 11th."
Boycotting Arizon's Racism
Amy Goodman writes for Truthdig.com: "Arizona was the only territory west of Texas to secede from the Union and join the Confederacy during the Civil War. A century later, it fought recognition of the Martin Luther King Jr. federal holiday. This week, an anti-immigrant bill was signed into law by Republican Gov. Jan Brewer. Arizona Senate Bill 1070 empowers state and local law enforcement to stop, question and arrest whoever they suspect may not be in the state legally. The law is an open invitation to sweeping racial profiling and arbitrary detention."
Racial Politics, Tea Party Style
Marcia Alesan Dawkins writes for Truthdig.com: "Today’s trying times bring to mind the lyrics of “For What It’s Worth” by Buffalo Springfield. “There’s something happening here / What it is ain’t exactly clear.” I experienced exactly that sort of feeling when I saw Lloyd Marcus perform the “American Tea Party Anthem,” which he wrote, at a recent rally. My lack of clarity about this event didn’t come from watching a black man in country gear sing with a twang. After all, years of watching and listening to Eminem and Elvis have conditioned me to not think twice when I see an entertainer playing with racial stereotypes."
Government, Public Aid and Discrimination
Photo: Jamison Wieser / Flickr
After Reporter's Subpoena, Critics Call Obama's Leak-Plugging Efforts Bush-Like
Howard Kurtz writes for The Washington Post: "The Justice Department's decision to subpoena a New York Times reporter this week has convinced some press advocates that President Obama's team is pursuing leaks with the same fervor as the Bush administration. James Risen, who shared a Pulitzer Prize for disclosing President George W. Bush's domestic surveillance program, has refused to testify about the confidential sources he used for his 2006 book State of War: The Secret History of the C.I.A. and the Bush Administration."
Press Freedom Falls Around the World
Freedom House finds an overall decline for the eighth year in a row – with noticeably negative movement in China, the Middle East, and parts of Latin America." Photo: Newcom
Search Neutrality? How Google Became a "Neutrality" Target
Nate Anderson writes for Ars Technica: "If ISPs should be subject to "net neutrality," should companies like Google be subject to "search neutrality"? When we wrote recently about the idea of "search neutrality," some readers seemed to believe that we had coined the term, but nothing could be further from the truth. "Search neutrality" now fills the FCC filings of companies like Comcast, Time Warner Cable, and AT&T, all of whom see no reason why their businesses should be picked out for regulatory scrutiny while Google goes about its business unmolested."