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‘Left, Right & Center’: Economic Blues, Obama’s Successes

Posted on Mar 6, 2009
Left, Right & Center

Has there been any good news in recent days? Robert Scheer thinks so and says why on this week’s “Left, Right & Center.” Arianna Huffington, meanwhile, has some questions about Barack Obama’s economic decisions, while Tony Blankley wonders if there aren’t too many banking types in the new government.


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By Outraged, March 9, 2009 at 12:17 am Link to this comment

Re: cyrena

In addition the bombastic irony here is that the facist-types WANT/ENDORSE National Socialism.  How messed up is that.

And we’ve seen this with our banking bailout conundrum….... the term OUTRAGEOUS seems mild given recent events.

But again, this is done purposefully to the unwitting…. and many times, very nice people who are so kowtowed, so cattle-prodded and so strangulatingly kept…. that fresh air is simply an unknown.  Much the same as any torture victim, they are very realistically….. psychologically tortured until their predicament is simply their reality.  Henceforth, they reason outside of reason because this then becomes their concept of reality.

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By cyrena, March 8, 2009 at 3:52 am Link to this comment

Great point yourself Outraged..

“There is a HUGE chasm between NATIONAL SOCIALISM and DEMOCRATIC SOCIALISM but sadly many do not understand this, and I’ll rightly include college graduates here.  This is the basis that the facist-types are using to scare the bejeezus out of uninformed people of the conservative nature.  They are simply confused.”


There is a huge difference, and a whole bunch of college graduates don’t know this, not to mention a whole bunch of other things they don’t know. And, these are IMPORTANT ‘confusions’. They make huge differences in the worldviews of the populace.

And, it’s TRUE that this stuff is used to scare the bejesus out of those with a conservative nature, or simply a more limited exposure to anything else.

Thanks for the lyrics.

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By Outraged, March 7, 2009 at 7:25 pm Link to this comment

There’s a good article @ the “Smirking Chimp” regarding this little “I’ll rub your back if you rub mine” scam.

Of course, they actually hide under the bed, then jump up and say they’re someone else so… they don’t have to rub your back…, but then…!!!, they do that again and now they’re their old self and you have to rub their back… Perfectly understandable….???

Myself… well… I say its not really a good idea to shirk on the rubbing your back deal…unless…. well, you TRULY have this in the back ( I mean bag, of course).  An excerpt:

“This is big news because the vice chairman of the Fed, Donald Kohn, would not identify any of these companies when he appeared before the Senate Banking Committee on Thursday.

However, it was already known that Goldman Sachs, Societe, and Deutsche Bank (read douche, translation mine of course) had gotten a big payout from the AIG debacle, as this December 17 article from Business Week shows.

I’ve been trying to understand what happened here. Putting the Business Week article together with the Kohn testimony and this summary of part of the deal and other sources, you get a clearer idea of just how billions in TARP money has been funneled to these institutions. And it stinks.

To help explain what’s happened, I’ve prepared a PDF presentation of this, relying mostly on Kohn’s testimony. You can access it at my unrelated website here (pdf).

Let’s go back a bit to when Bear Stearns went under. The Federal Reserve worked together with JPMorgan Chase to get JPMorgan a great deal. The Fed created a limited liability company in Delaware, named after the street the New York Fed bank is on, Maiden Lane. Maiden Lane, LLC, received $29 billion in loans from the Fed, and $1 billion in loans from JPMorgan. Maiden Lane used that money to buy up the toxic assets at the heart of Bear Stearns’ woes. JPMorgan Chase then purchased Bear Stearns, free of the toxic assets with $30 billion sitting there all nice and tidy. And then JPMorgan bought Bear Stearns at $10 a share (although, remember, Hank Paulson wanted them to sell at $2).

Now this whole deal stunk mightily in the nostrils of Congress, and they saddled the Federal Reserve with some more strigent restrictions on how they deal out the money. And Maiden Lane, LLC, has actually lost $5 billion in value since that time. But that didn’t stop them from pulling out the old playbook when AIG came staggering in through the door.”

There are several links at the article site.  Enjoy.

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By Outraged, March 7, 2009 at 12:47 am Link to this comment

Good point Mr. Scheer.  The right wingers rhetoric of “socialism”, I think is purposefully generic.

There is a HUGE chasm between NATIONAL SOCIALISM and DEMOCRATIC SOCIALISM but sadly many do not understand this, and I’ll rightly include college graduates here.  This is the basis that the facist-types are using to scare the bejeezus out of uninformed people of the conservative nature.  They are simply confused.

It reminds me of the song lyrics in Disney’s “Beauty and the Beast”(The Mob Song) when the townspeople decide they have to go “Kill the Beast” at the instigation of Gaston who has obvious ulterior motives.  They aver,

“We don’t like what we don’t understand….IN FACT IT SCARES US!”....etc….KILL THE BEAST!

So it’s time to take some action, boys!
It’s time to follow me!

Through the mist, through the woods
Through the darkness and the shadows
It’s a nightmare but it’s one exciting ride!
Say a prayer, then we’re there
At the drawbridge of a castle
And there’s something truly terrible inside:

It’s a beast!—He’s got fangs, razor sharp ones!
Massive paws, killer claws for the feast!
Hear him roar! See him foam!
But we’re not coming home,
‘Til he’s dead!!!
Good and dead!
Kill the Beast!”

BELLE: No! I won’t let you do this!
GASTON: If you’re not with us, you’re against us!
Bring the old man!
MAURICE: Get your hands off me!
GASTON: We can’t have them running off to warn the creature!
BELLE: (muffled) Let us out!
GASTON: We’ll rid the village of this Beast! Who’s with me?!?
VARIOUS: I am!! I am!!!
I am!!

Light your torch!
Mount your horse!

Screw your courage to the sticking place!

We’re counting on Gaston to lead the way!

Through a mist, through a wood,
Where within a haunted castle,
Something’s lurking that you don’t see every day.

It’s a beast! One as tall as a mountain,
We won’t rest ‘til he’s good and deceased!
Sally forth! Tally ho!
Grab your sword! Grab your bow!
Praise the Lord and here we go!

GASTON: We’ll lay seige to the castle and bring back his head!
BELLE: I have to warn the Beast! This is all my fault!
Oh, Papa, what are we going to do?
MAURICE: Now, now, we’ll think of something…

We don’t like what we don’t understand
in fact, it scares us

And this monster is mysterious at least!

Seriously… of course it’s better when you listen to the song(or better yet view the video) itself and I’d endorse it.  But this is the mentality these types are attempting to enflame.

Oh… and if you take me up on this (viewing or listening) the full lyrics are here:

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By wildflower, March 6, 2009 at 11:43 pm Link to this comment

Interesting program! I was intrigued by the “Bill Lerach Letter” that Matt Miller mentioned at the end of the program.  Believe Left, Right, and Center should discuss this letter more on a special “How to Shake Down the Banks” episode. I really like the idea of a shareholders’ suit:

“. . . bring a shareholders’ derivative suit against the grossly negligent boards of directors that permitted the wasteful bonuses to be paid as well as the defalcating executives who got them. Corporate law recognizes claims for breach of fiduciary duty, gross negligence, waste of corporate assets, or abuse of control to recover excessive compensation. Any recovery would flow back to the corporate entity—but since these are now taxpayer-supported entities, the recovery would benefit the taxpayers, i.e., help banks pay back TARP money sooner! . .”

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