This week we learned that the Magnetar Hedge Fund bought risky bonds (CDOs) and bet against them (with a credit-default swap) aiding in the financial meltdown and misleading investors. In addition, Goldman Sachs is being accused by the S.E.C. of defrauding investors in a similar fashion.
Bus of Afghan Civilians Fired At By Nato Troops
More news of civilians murdered in Afghanistan. Are Nato forces winning over the Afghan hearts and minds? Are they getting the bad guys? This quote from General McChrystal says it all:
However, to my knowledge, in the nine-plus months I’ve been here, not a single case where we have engaged in an escalation of force incident [...]
The Warning
I just watched an excellent Frontline episode on the financial crises, credit default swaps and the deregulation of the Clinton era. It turns out that there were people who warned against the problems of credit default swaps. Brooksley Born, former chair of the Commodities Futures Trading Commission, repeatedly warned the Clinton adminstration and congress about the dangers of unregulated [...]
Obama and State Secrets
Obama is sounding like Bush:
Non-Profit Workers and Food Stamps or What it Means to Me to be Black In AmeriCorps: By Jan Jugran
As an AmeriCorps member, I have agreed to dedicate a year of my life to working toward the good of society. In exchange, I am provided with a stipend in the amount of $12,000—before taxes.
New Film about Afghanistan
Rethink Afghanistan is a new internet film produced and directed by Robert Greenwald who has made numerous documentaries including Walmart: The High Cost of Low Price and Iraq For Sale: The War Profiteers.
Biking, Antibiotics and Nonviolence in the News
Article discussing extending the Greenway Bike path to St. Paul:
A transportation advocacy group is renewing the push to extend the Midtown Greenway in Minneapolis across the Mississippi River and into St. Paul.
Obama pick quits over Israel lobby
Charles Freeman has withdrawn his nomination to chair the US National Intelligence Council because of a slander campaign easily traceable to the powerful Israeli lobby AIPAC.
Meanings of Victory By Mumia Abu Jamal
Mumia on the Meaning of Victory Click to listen
The Power of Truth is Final — Free Mumia!
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March of the Friedmanites
Behind the banner of free-market capitalism, they marched toward their mission. Armed with degrees in economics, management, and finance, the Friedmanite masses moved forward at a reckless