'Goldman Sachs Rules the World': Trader Sparks Outrage...

'Goldman Sachs Rules the World': Trader Sparks Outrage...

A financial trader in London caused a storm of outrage by suggesting that world leaders cannot do anything to prevent a global market collapse, saying that investment bank Goldman Sachs ruled the world.

Alessio Rastani's comments on BBC television on Monday have gone viral, viewed by more than 360,000 people, but they fit so closely to the stereotype of a heartless banker that rumours are rife that he is actually part of a hoax.

Answering questions about world leaders' response to the eurozone debt crisis, the 34-year-old said traders "know the stock market is finished. The euro, as far as they're concerned, they don't really care".

"For most traders, we don't really care that much how they're going to fix the economy, how they're going to fix the whole situation -- our job is to make money from it," he said.

"Personally I've been dreaming of this moment for three years. I have a confession, which is I go to bed every night, I dream of another recession."

As the BBC presenter looked on in shock, he added: "The governments don't rule the world. Goldman Sachs rules the world. Goldman Sachs does not care about this rescue package, neither does the big funds."

A Goldman Sachs spokeswoman said the bank had no comment.

The remarks by Rastani, described by the BBC as an independent trader, caused a storm on Twitter and in British newspapers, and prompted Spanish Finance Minister Elena Salgado to brand him "mad and immoral."

The Daily Mail website said it was the "moment trader told shocked BBC presenter the City just LOVES an economic disaster," while the Independent described him as "the trader who lifted the lid on what the City really thinks".

The Guardian asked readers in an online poll if they were shocked, with two options: "No, this is how capitalism works", or "Yes (but only by his honesty)".

Asked about his warning that millions of people's savings could vanish in the next year, Salgado said this was not the case as savings were guaranteed across Europe.

"He thinks that he can get money simply with this threat, with this statement," she told Spanish public television TVE.

"So he is not only mad, he is mad and immoral."

Other commentators meanwhile speculated that Rastani was simply expressing views in public that were privately held by many.

BBC business editor Robert Peston said on Twitter that Rastani had merely "voiced what traders working for big firms and funds say in private," while the Financial Times asked in a blog entry "Do traders dream of defaulting Greeks?"

Some media reports have suggested Rastani is a member of The Yes Men, a US-based protest group who claimed responsibility for a bogus report in 2004 on the BBC that Dow Chemical would compensate victims of the Bhopal disaster.

In an interview with Forbes website, he denied he bore any resemblance to the fictitious Dow spokesman who orchestrated that hoax and insisted he was a genuine trader who worked for himself.

The BBC also stood by him, saying it had carried out "detailed investigations" but could find no evidence to suggest Rastani was not what he claimed.



Military to Collaborate with Wyoming Cops in Drunk Driving Crackdown...

Courtesy of infowars.com
The Department of Justice will work with authorities in Wyoming to violate what remains of Posse Comitatus, according to the Star-Tribune.
“In a first-of-its-kind collaboration, F.E. Warren Air Force Base will collaborate with state and local governments and law enforcement to cut down on underage and irresponsible drinking,” the newspaper reported earlier this week. “State, local and military police will also work together under the program to crack down on drunk people who disobey the law.”
The Department of Justice’s Office of Justice Programs provided funding for the three-year project, estimated to cost $300,000-per-year.
The Posse Comitatus Act (18 U.S.C. § 1385), passed on June 18, 1878, following the end of Reconstruction, restricts the federal government from using the military in state and local law enforcement. The statute specifically prohibits the Army and Air Force and units of the National Guard under federal authority from acting in a law enforcement capacity.
“Whoever, except in cases and under circumstances expressly authorized by the Constitution or Act of Congress, willfully uses any part of the Army or the Air Force as a posse comitatus or otherwise to execute the laws shall be fined under this title or imprisoned not more than two years, or both,” 18 U.S.C. § 1385 states.
In 2006, following Hurricane Katrina, Bush urged Congress to pass legislation overriding Posse Comitatus. The result was the John Warner National Defense Authorization Act for Fiscal Year 2007. It allowed the federal government to use the armed forces to “restore public order and enforce the laws of the United States” during national emergencies such natural disasters.
The changes were repealed in their entirety in 2008.
Earlier this year, we reported on military police – described as “crime stoppers” – from the Homestead AFB in Florida detaining domestic criminal suspects.
In 2009, the National Guard provided “security” in Kingman, Arizona. The Coast Guard, under the Department of Homeland Security, is now exempt from the Act.
The military participated in a checkpoint along with Tennessee cops and Homeland Security in April of 2009. The governor and state representatives were not aware of the illegal collaboration when contacted by the Alex Jones Show.
In 2008, the Marine Corps Air and Ground Combat Center and the California Highway Patrol used the Christmas holiday as an excuse to collaborate on a drunk driving checkpoint in San Bernardino County.
Following a shooting in Alabama, the Army was dispatched from Fort Rucker to patrol the streets of Samson in 2009.
Pittsburgh mayor Luke Ravenstahl called in the National guard to help in “domestic” disputes in 2009. Ravenstahl used a snow emergency as an excuse. He went on television and said “be advised that you will begin to see National Guard Humvees in some of your neighborhoods beginning this evening.”
The Wyoming program is another example of the federal government violating the law in an attempt to merge federal and local law enforcement, an effort that has been underway since the Clinton administration.

Maced Wall Street Protester Speaks Out...

Maced Wall Street Protester Speaks Out...

Courtesy of rt.com

While protesters in Manhattan are in their second week of Occupy Wall Street demonstrations, it wasn’t until the NYPD resorted to unprovoked acts of violence that the mainstream media caught on.
One protester, Chelsea Elliott of Brooklyn, has become almost an Internet icon since she showed up to protest big banks last week. You might not know her by name, but if you’ve logged onto YouTube in the last few days then very well might know who she is. Elliott, along with others, with maced by a New York City Police Department officer while peacefully protesting Wall Street last week.
“It took about three seconds for it to register what had happened,” Elliott told RT. “At that moment, my mind kind of went blank. I was just so confused as to why. I just fell to the ground.”
In the video uploaded to the Web, Elliott and others are shown being roped into a pen by NYPD officers rallying around the protesters. Then, suddenly, one officer approaches a handful of female demonstrators, triggers his pepper-spray and walks away.
Since the incident, it has been revealed that the officer in question is Deputy Inspector Anthony Bologna, a long time veteran of the NYPD. Hacktivists with Anonymous have responded to the identification by leaking personal details pertaining to the officer to the Web in hopes that concerned citizens will voice their opposition.
To Elliott, however, it’s not just a corrupt Police Department that is at fault here. It’s the corruption between Wall Street and Washington.
“As our middle class is disappearing, so is the health and the peace of our country,” said Elliott. “Our government is incredibly corrupt. They are being paid by the very people they are supposed to be regulating and everyone is suffering.”
As more and more catch on to the suffering they are being subjected to, the number of protestors has grown. What began as a small demonstration in Lower Manhattan has accumulated thousands of participants, from concerned celebrities to middle class members miffed with the inequality in America. Now rallies have occurred across the country and dozens of similar camp-outs are being planned across the United States.
Elliott told RT that people should be outraged and not let the mainstream media pinpoint the protest as chaotic and disorganize. Everyone, she says are affected. “We are all individuals,” said Elliot.
“It is supposed to affect the entire middle class. We are all different people. We all have a dialogue about it and understand what happened and how it affects each group differently. This isn’t for one group of people. Of course they are going to make it seem like we are disorganized and chaotic.”
In the meantime, however, protestors continue to rally against Wall Street. Will anything be changed, tough? “I feel like things are going to get worse before they get better,” Elliott told RT. Speaking about the financial crisis, she said, “Most people really have no idea or understand why or what happened. They think its an accident. When in reality, it’s very wealthy and powerful corporations destroyed lives for millions and millions of people. It’s kind of hard for me to know what the future holds for us."
“I just hope that as this group, as we build momentum, so will an understanding and awareness of the situation of our government,” she said.

Obama Wants Jobless to Sue...

Obama Wants Jobless to Sue...

The millions of unemployed Americans might be able to file discrimination suits against would-be employers under a provision in President Barack Obama’s American Jobs Act.
Most unemployed Americans remains jobless for an average of 40 weeks as of late, the longest duration since the Eisenhower administration. If the current president’s proposed plan is approved, however, those that feel that they are discriminated against for their employment status can take legal action.
The exact wording of the proposal suggests that should a business with 15 or more employees neglect to hire an applicant on basis of “the individual’s status as unemployed,” it would be deemed “an unlawful employment practice” under the American Jobs Act. Should rejected applicants chose to seek legal action, they are capable of suing in the same way that applicants can currently peruse claims for discrimination based on race, sex and religion.
Under the provision, jobs-seeking applicants and employment agencies would be barred from advertising positions in which they specifically suggest that the unemployed aren’t eligible for hire. Earlier in 2011, New Jersey approved a legislation that outlawed the same practices in the Garden State. That law is the first state bill of its kind to pass. Obama’s proposal is unique, however, in that it allows workers to file claims for damages if they feel that they would wrongly discriminated against based on job status.
Texas Representative Louie Gohmert, a Republican, tells The New York Times that it could change the whole way applicant go about the job process. "If you're unemployed and you go to apply for a job, and you're not hired for that job, see a lawyer. You may be able to file a claim because you got discriminated against because you were unemployed,” says Gohmert.
Some say that the legislation could be a great step in helping lower the unemployment level, but others warn that it could be a slippery slope. "This is a troubling aspect of the AJA, allowing a person to sue," says labor attorney Daniel Saperstein to Human Resource Executive Online. "Would that make it enough for a person to say, 'I saw your ad' and filed a lawsuit? The New Jersey law does not allow a private right of action, and that makes more sense."
Should Congress approve the American Jobs Act, President Obama hopes it can bring the unemployment level back below 9 percent where it has been for months now. Currently around 14 million Americans are officially unemployed, nearly half of whom have been jobless for six months or longer.

Iran to Patrol US East Coast...

Iran to Patrol US East Coast...

Sick of the American navy’s ongoing presence in the Persian Gulf, an official with the military of Iran announced this week that they will be sending ships over to be stationed off the coast of the United States.
In other words, Iran thinks that what’s good for the goose is good for the colossal, militaristic gander.
"Like the arrogant powers that are present near our marine borders, we will also have a powerful presence close to American marine borders," reads a statement from Rear Admiral Habibollah Sayyar to the official Islamic Republic News Agency this week. The IRNA adds that Sayyar, the commander of the entire Navy of Iran, will call for “the help of our sailors who follow the concept of the supreme jurisprudence” to send a flotilla towards the Atlantic coast of the United States.
On the same day as Sayyar’s statement, Iran Defense Minister Gen. Ahmad Vahidi also revealed to the media that the navy has another tactic under its sleeve: the country is beginning production of cruise missiles made for sea-based targets that could even counter massive warships, reports The Associated Press. The AP says that Vahidi’s comments suggest that the weaponry could be used to combat American ships anchored in the Persian Gulf, but with a fleet setting sail towards the US, could a new cold war embark between the two nations?
The Department of Defense doesn’t think it’s a big deal.
Pentagon Spokesman Capt. John Kirby released a statement in response to Iran’s plans and says, "We've been pushing freedom of the seas for years and the Iranian navy can go wherever it wants.” Given those sentiments, it seems likely that the United States will continue to sail through the Persian Gulf, even if Iran is ready to respond to that presence.
For those keeping track, this marks at least the second time in a week that Iran has called out America as an “arrogant power.” Those were the words that Iranian President Mahmoud Ahmadinejad used last week when he called out the US for the military’s ongoing appearance in seemingly all ends of the globe.
"Do these arrogant powers really have the competence and ability to run or govern the world? Is it acceptable that they call themselves the sole defender of freedom, democracy, and human rights, while they militarily attack and occupy other countries?" Ahmadinejad said to the United Nations’ General Assembly last week.
In the meantime, it looks as if Iran will send ships elsewhere, as well. State-run Press TV suggests that the country will also be deploying a new fleet into the Gulf of Arden to protect the nation’s ships from pirate attacks.

Loophole Lets Corporations Save Billions in Taxes...

Loophole Lets Corporations Save Billions in Taxes...

The United States has let corporations get away with billions of dollars in tax-breaks thanks to a paperwork loop-hole that has allowed companies to forego a special type of corporate tax.
Under a rule commonly called “check-the-box,” American corporations have been able to shift profits from abroad simply by signing off an extra item on tax forms. Normally these companies are required to pay around 35 cents on the dollar in corporate tax, but the Treasury Department now estimates that it has lost billions each year since companies began taking advantage of the little-known shortcut.
In a 2009 report released by Congressional Research Services, they estimate that the government has missed out on around $10 billion annually because of the gaffe. Originally the rule was created so companies could transfer subsidiaries into what the IRS refers to as “disregarded entities.” It encourages corporations to invest abroad while saving money so that, ideally, they will then pump their profits into domestic research and development.
But according to the report, titled Tax Havens: International Tax Avoidance and Evasion, “Multinational firms can artificially shift profits from high-tax to low tax-jurisdiction using a variety of techniques,” which includes check-the-box. The report adds that the installation of that feature in the 1990s led to “unintended consequences” for foreign firms. “On average,” continues the report, “very little tax is paid on the foreign source income of US firms.
The option was originally installed so that companies would be able to save on paperwork, reports Financial Times. They add that, because of the option, US corporations have been able to expand overseas thanks to tax breaks. The US Department of Commerce reveals that earnings of American companies abroad have doubles since 2004.
Because only large corporations are able to take advantage of check the box, it limits who exactly can use the loophole. That does mean, however, that those massive companies that President Obama is aiming to tax more heavily with his Buffet Rule are those that are getting the most out of check-the-box.

Shutdown, Austerity and Depression for America...

Shutdown, Austerity and Depression for America...

Courtesy of rt.com

For the third time this year, the United States government faces a potential shutdown as lawmakers in Washington try to tackle spending issues on Capitol Hill.
With unrest on Wall Street, Washington and across America, how severe of a threat is this shutdown and what could come of it?
“If we don’t act now it’s going to be the end of the world,” said Charlie McGrath of WideAwakeNews. While McGrath might be a tad bit dramatic, he warns that the rest of the country should be concerned over what’s to come of the nation’s economic crisis. And for pointers on what to expect, McGrath suggested that one doesn’t have to look much further than across the pond.
“Just look at Europe and see the directions we’re going,” cautioned McGrath. “Austerity is coming to this country and it is being brought to us by the same lawmakers that made sure that Wall Street was bailed out and made completely whole.”
McGrath echoes the opinion that the big banks and DC bigwigs are in cahoots and have no care for the little guy. He says that the failure of the American economy has been put onto the backs of the American people, and the only source to blame is the corruption between Wall Street and Washington. “There are no lengths that they will not go to in order to bail out their friends and stick the American people with the burden,” said McGraw.
But what about the too-big-to-fail banks? Is a collapse possible? “For me to think it can’t happen again here, that’s just not reality,” said McGraw. He says that people are “literally dying now in Europe because of austerity measure,” and as rallies skim the brink of riots, those same measures — and consequences — could come to America should a worsening recession hit the US at home.
“Why would this depression be any different than the depression of ‘29 and the 30s when we were led into World War 2?” asks McGrath. “Everything seems to be going in the exact same path.”

Occupy Wall Street Spreads Across America...

Occupy Wall Street Spreads Across America...

Courtesy of rt.com
Cops might be cracking down on Occupy Wall Street protesters in New York City, but activists are now bringing their big-bank bashing across the country with demonstrations springing up from coast-to-coast.
More than a week after protests began in Lower Manhattan, the Occupy Wall Street movement is moving, well, off of Wall Street. Both Los Angeles, California and Chicago, Illinois have both hosted demonstrators in the days since the first protest kicked off in New York, and now dozens of more locales across America are expected to be swarmed upon by citizens sick and tired of corrupt corporations and financial institutions run amuck by mismanagement and greed.
Within the next few days, occupation-style protests like the one happening in Liberty Plaza Park, Manhattan are expected to occur in Washington DC, Lexington, Kentucky and San Francisco, California. Elsewhere organizers are laying down the groundwork to soon wage demonstrations in cities like Omaha, Birmingham and Philadelphia, as well. Occupytogether.org has started up as an online hub so that like-minded individuals that have had enough of the corrupt ties between K Street and Wall Street can launch protests across America.
“We will only grow stronger in our solidarity and we will be heard, not just in New York, but in echoes across this nation,” writes a post on the homepage of Occupy Together.
This past weekend, Occupy Los Angeles demonstrators led a march through the streets of LA to show their solidarity for their East Coast brethren. On Saturday, Californians will come together again and march to City Hall, hoping to pull in the support of thousands. Occupations in New York are expected to continue as well.
Even if the number of protesters in Los Angeles pale in comparison to the thousands that have gathered in New York for the same cause, that isn’t to say that the message is any different.
"Corporate interests seem to be controlling both parties," one protester out west says to laactivist.com. "The 'little man,' the 'American every man,' just isn't getting their voice heard. When you need $35,000 to donate to a campaign to get your voice heard, to have a meeting, that's not democracy."
In Chicago, what began as a small group of only four demonstrators grew to 20 over the weekend. Some of them have stayed camped out in front of Willis Tower. On Friday, they marched to the Federal Reserve Bank to rally there. Occupy Together shows that demonstrations are expected to continue in conjunction with the NYC rallies throughout the Windy City.
Dozens have been arrested for participating in peaceful protests since the Occupy Wall Street demonstrations began earlier this month.

NYPD Cop Outted for Pepper-Spraying Protesters...

NYPD Cop Outted for Pepper-Spraying Protesters...

Activists angry at the NYPD's attack on Occupy Wall Street protesters has led to the online collective Anonymous posting the personal details of one of the cops caught lashing out at demonstrators.
And it turns out it wasn’t the first time he’s made the news.
Hacktivists with Anonymous have identified the NYPD officer that pepper sprayed female protester as Deputy Inspector Anthony Bologna, a long time veteran of the force. In a video of the ongoing demonstrations from last week that has since gone viral, a white-shirted officer believed to be Bologna uses mace on a group of roped off non-violent protesters without provocation only to then walk away. As the clip has accumulated thousands of views in the days since, activists around the globe have sought out the identity of the assailant. A blogger has since blown up a still photo from the incident and has reason to believe that the officer in question is Bologna.
It’s now been unearthed that this hasn’t been the only incident between Bologna and protesters, however. During the 2004 Republican National Convention, Bologna allegedly infringed on the civil rights of protesters demonstrating against George W Bush. A suit against the officer and another was filed back in 2007 and is finally expected to be heard in 2012.
The trouble for Bologna doesn’t stop there, either. Since his identity has been made public, the members of the online activist collective Anonymous have posted several personal details pertaining to the officer with a warning that other members of law enforcement should be careful of who they mess with.
“As we watched your officers kettle innocent women, we observed you barberically [sic] pepper spray wildly into the group of kettled women,” reads a note posted on September 26 by an online user aligned to Anonymous. “We were shocked and disgusted by your behavior.You know who the innocent women were, now they will have the chance to know who you are.Before you commit atrocities against innocent people, think twice. WE ARE WATCHING!!! Expect Us!”
From there, phone numbers and addresses for Anthony Bologna are listed, as well as his alma matter and the names of alleged family members.
One protester speaking under condition of anonymity tells the Guardian newspaper, "My dad is a police officer and he got a lot of death threats. I don't know if his family details should be out there. But if the information is correct and he has a rights case against him, I'm extremely concerned that he was put into what was a very tense situation."
Dozens of people have been arrested and injured in the Occupy Wall Street protests which are now in their second week. Other demonstrations are springing up across the country, with protests being planned in Washington DC and Los Angeles, California, among others.

The US Government Perpetuates Poverty...

The US Government Perpetuates Poverty...

Courtesy of rt.com

While much of the country is fed up with the Obama administration, the president still has many supporters willing to shell out tens of thousands of dollars at fundraiser dinners.
How does the president maintain support during these tough economic times? Peter Schiff says America needs to wise up already.
“These guys have got to wake up to reality,” said Schiff, the president of Euro Pacific Capital. “Obviously some people are able to make money off of the system. Unfortunately, not nearly enough. That’s the problem”
Schiff said that there still are a good number of Americans that make a decent wage and have enough saved up, and those fortunate enough to be grouped into that collective often end up being ignorant of what the rest of the country is experiencing. “There are people with money in this country that don’t understand what’s going on so they believe that Obama is actually going to help the country,” he said.
While some rest of America, said Schiff, doesn’t buy into it, others are left searching for answers and coming up hopeless. Unfortunately, they often don’t matter to those in Washington. The Obama administration continues to put money into programs which Schiff says make the rich richer and the poor poorer. “Many of those programs are responsible for impoverishing the majority of Americans but they enrich his contributors,” said Schiff. As a result, the American poor are being perpetuated into a further economic slump while financiers and other big bank big-wigs are benefiting from Obama’s “reckless policies.”
Schiff said that a lot of companies are beneficiaries of government programs, including pharmaceutical corporations and large brokerage firms. The small guy, however, is often disillusioned by what’s actually happening on Pennsylvania Avenue. Even in the state of economic disarray, those are the people whose vote matters and they might be casting it for Obama unsure of how to fix the problem.
“As the government is able to help ruin the economy and create dependency, people who become dependent on government checks are now more likely to vote for the people that are signing the checks,” said Schiff. “They don’t connect the dots. They don’t understand that the government is responsible for their plight. But they buy into the rhetoric that the government will solve their problem.”
To the government, said Schiff, that’s not a problem. “The government wants to perpetuate poverty because it’s easier to get the votes of the impoverished when you’re the ones that’s providing them with funds,” he added.
And what will become of this?
“It is going to get worse,” said Schiff.

NZ Joins UN Ahmadinejad Speech Walkout...

Courtesy of AP 

American diplomats led a walkout at the UN General Assembly as Iran's President Mahmoud Ahmadinejad fiercely attacked the United States and major West European nations as "arrogant powers" ruled by greed and eager for military adventurism.

The two US diplomats, who specialise in the Middle East, were followed out of the chamber by diplomats from more than 30 countries. They included the 27 European Union members, Australia, New Zealand, Somalia, Liechtenstein, Monaco, San Marino and Macedonia, a UN diplomat said. Israel boycotted the speech.
Ahmadenijad's fiery anti-US and anti-Israeli rhetoric has been a staple of the General Assembly's ministerial meetings.
Last year, Ahmadinejad provoked a walkout by the US, EU, and others when he said a majority of people in the United States and around the world believe the American government staged the September 11, 2001 terror attacks in an attempt to assure Israel's survival.
The provocative comments prompted the US delegation to walk out of Ahmadinejad's UN speech, where he also blamed the US as the power behind UN Security Council sanctions against Iran for its refusal to halt uranium enrichment, a technology that can be used as fuel for electricity generation or to build nuclear weapons.
Ahmadinejad's speech pitted the poverty and unhappiness of most countries against the riches and power of the US and unnamed European nations that he accused of perpetuating wars, causing the current global economic crisis and infringing on "the rights and sovereignty of nations."
He attacked the United States and European colonial powers for abducting tens of millions of Africans and making them slaves, for their readiness "to drop thousands of bombs on other countries," and for dominating the UN Security Council He singled out the US for using a nuclear bomb against Japan in World War II and imposing and supporting military dictatorships and totalitarian regimes in Asia, Africa and Latin America.
"It is as lucid as daylight that the same slave masters and colonial powers that once instigated the two world wars have caused widespread misery and disorder with far-reaching effects across the globe since then," Ahmadinejad said. "Do these arrogant powers really have the competence and ability to run or govern the world?"
The Iranian president answered by calling for "the shared and collective management of the world in order to put an end to the present disorders, tyranny and discriminations worldwide." Last year, he said "the future belongs to Iran" and challenged the US to accept that his country has a major role in the world.
Ahmadinejad made no mention of his disputed re-election in June 2009 when security forces systematically crushed opposition protests, the current internal political turmoil that has sharply diminished his power, or Iran's nuclear program which the US and its allies believe is aimed at producing nuclear weapons.
"While President Ahmadinejad is lecturing the world from the UN podium," Human Rights Watch's UN Director Philippe Bolopion said, "dissent is still being crushed ruthlessly in Iran and basic rights demanded by millions in the Arab world are brutally denied to Iranians who are demanding the same."
"The world assembly should take with a grain of salt the remarks of a leader who said nothing about the public hanging yesterday of a 17-year-old in his own country," he said.
In his speech, Ahmadinejad noted "the widespread awakening in Islamic lands ... (in) the pursuit of the realization of justice, freedom and the creation of a better tomorrow." He said "our great nationa stands ready to join hands with other nations to march on this beautiful path."
The Iranian leader accused the US of threatening to place sanctions on anyone who questions the Holocaust and the September 11 attacks with sanctions and military action.
Without naming the United States, he asked: "Who imposed, through deceits and hypocrisy, the Zionism and over 60 years of war, homelessness, terror and mass murder on the Palestinian people and on countries in the region?"
Ahmadinejad accused some unidentified European countries of still using the Holocaust "as the excuse to pay fine or ransom to the Zionists." He also said any question about the foundation of Zionism is condemned by the US "as an unforgivable sin."
Mark Kornblau, spokesman for the US Mission to the United Nations, said: "Mr. Ahmadinejad had a chance to address his own people's aspirations for freedom and dignity, but instead he again turned to abhorrent anti-Semitic slurs and despicable conspiracy theories."
When the idea of an independent fact-finding investigation of "the hidden elements" involved in the September 11 attacks was raised last year, he said, "my country and myself came under pressure and threat by the government of the United States."
"Instead of assigning a fact-finding team, they killed the main perpetrator and threw his body into the sea," Ahmadinejad said, referring to the US military's killing of al-Qaida leader Osama bin Laden in early May.
"Would it not have been reasonable to bring to justice and openly to trial the main perpetrator of the incident in order to identify the elements behind the safe space provided for the invading aircraft to attack the twin world trade towers?," he asked.
- AP

Palestine to UK: 'You Owe Us Recognition!'

Palestine to UK: 'You Owe Us Recognition!'

Courtesy of rt.com

Rallies in support of the Palestinian bid for statehood have taken place across the world. Mass demonstrations have been observed in London, where people urged Prime Minister David Cameron to reach out a helping hand to the Palestinians.
The demonstrators who gathered at Downing Street on Wednesday have signed a petition to the prime minister, in which they call on him to support Palestine’s bid for statehood, which the head of Palestinian National Authority Mahmoud Abbas is expected to submit to the UN on Friday.

The demonstrators in London believe recognition is the only way to ensure that further negotiations for a two-state peace solution between Palestinians and Israelis resume.
“We represent the views of Muslims up and down the country, who overwhelmingly support Palestine’s right to existence and self-determination,” Mohammed Asif, CEO of the Engage activist group told RT.
“My message to David Cameron is that the British government owes to the Palestinians. There is the moral and historic responsibility for the British government, because you were mandating us in the 1940s, you have created the state of Israel. It is about time you have recognized the state of Palestine,” Manuel Hassassian, the Palestinian Authority’s ambassador to London, said.

Almost a hundred British MPs from all parties have signed a motion calling on the UK to back the recognition of a Palestinian state by the UN. Polls in the country show that some 60 per cent of UK voters believe that Palestine should be recognized as a state in its own right. The number of supporters is increasing in France and Germany too.

However none of those governments have yet come out in support of the Palestinian statehood bid. This is despite the IMF, the World Bank and the EU, which are all assessing the progress of the Palestinian Authority, judging that it is ready to become a state.

With pressure mounting from both supporters and opponents of the move, the outcome of Friday’s session of the UN General Assembly is far from being settled, and what stance David Cameron will take on it remains to be seen.

US Gets Ahmadinejitters Again...

US Gets Ahmadinejitters Again...

Courtesy of rt.com

Many American politicians and some protestors outside the United Nations in NY are opposed to Iranian President Mahmoud Ahmadinejad even being present to address the UN General Assembly.
­In today’s America, Iran is considered to be Public Enemy Number One by many, and there is a simple explanation for this: the Iranian nuclear program and the country’s President Mahmoud Ahmadinejad are on everyone's lips, be they a politician or a pundit.
US Senator John McCain assures on CBS News that “Iran, it continues to develop nuclear weapons."
He is echoed by another senator, Joe Lieberman, who told Fox News that "They’re controlled by a fanatical regime."
Both US officials are beating the drums of war.
Former US Ambassador to the UN John Bolton harangued on Fox News that, in his opinion, "We are past the point of no return in the sense that Iran does have inside the country everything it needs to produce a nuclear weapon.”
That point of no return is often exaggerated according to Pulitzer Prize-winning investigative journalist Seymour Hersh. His in-depth articles – recently one in the New Yorker – have illustrated time and time again the lack of evidence of a nuclear threat from Iran. The rhetoric, though, has resulted in widespread support for harsh actions against the country.
"We support a sanctions program that’s designed to stop, the punishment is aimed at stopping the Iranians from doing something we know they’re not doing,” Seymour Hersh claims.
Sanctions on Iran have been repeatedly called for by the Obama administration.
"So let me be clear: Iran's nuclear and ballistic missile activity poses a real threat, not just to the United States, but to Iran's neighbors and our allies,” publicly declared Obama.
Hersh compares President Obama’s attitude towards Iran to Bush and Cheney’s policy toward Iraq.
"They wanted to punish, to make a case against Iraq, they didn’t like their politics. So they made a case about nuclear weapons – if you remember they were talking about mushroom clouds – make the case that would go to war,” Hersh explains.
And exactly as America went on war with Iraq, it could do so with Iran, too, if the rhetoric of the American neo-con establishment becomes reality.
A former US Marine and Irish-American anti-war activist Ken O’Keefe warns that "Iran is in a perilous position and it’s obvious that the crosshairs are on them squarely." 
If anyone wants to know how it would begin, look no further than those hoping to have their finger on the button.
Four years ago, on the very same CBS News, John McCain mocked "You know that old Beach Boys song…Bomb, Bomb, Bomb."
And history in fact does repeat itselfю
A candidate for the 2012 Republican Party presidential nomination, Mitt Romney, has already blurted that the "Greatest threat to security of the world is a nuclear Iran.”
"Iran is a country that has killed more American men and women in uniform in Iraq and Afghanistan than the Iraqis and the Afghans have,” browbeats US Senator Rick Santorum.
This was at last month’s GOP presidential debate in Iowa.
Republican contender Michele Bachmann has declared that Iran is "One of the four state sponsors of terror in the world."
Only one candidate strayed from the script – Texan Congressman Ron Paul.
He said "Just think of how many nuclear weapons surround Iran. The Chinese are there. The Indians are there. The Pakistanis are there. The Israelis are there. The United States is there. Why wouldn't it be natural if they might want a weapon? Internationally, they might be given more respect.”
But one man given very little respect on US soil is Iranian President Mahmoud Ahmadinejad, number one villain for so many. Those who rally just outside the UN headquarters are sure that “he’s worse than Hitler”.
Last year the group united against a nuclear Iran put these posters up all over New York City, perpetuating the idea of a hostile Iran.
Anti-war activist Brian Becker says that "Even while the rest of the economy is sinking, the military industrial complex grows and grows, in other words, war is good business."
But it may also be good business to take a closer look at the way the narrative unfolds this time around to ask, when you hear the drums of war beating once again, if it is a matter of precaution and preparedness or simply propaganda.

Palestinians Condemn Obama Hypocrisy...

Palestinians Condemn Obama Hypocrisy...

Courtesy of rt.com

Political demonstrators rallying near the residence of President Mahmoud Abbas have slammed the American president over his promise to veto the Palestinian bid for statehood recognition.
­Dozens of protesters have gathered outside Mahmoud Abbas’s office in the Palestinian city of Ramallah on Thursday, Israeli daily Haaretz reports.
Many waved anti-Obama slogans, among which there was a banner reading “Obama the Hypocrite” and another claiming that the US president is siding “with killers against victims,” according to the paper.
The newspaper cited Egypt’s Al Ahram newspaper as saying that on Friday activists in different Arab countries are due to protest Obama’s opposition to Palestinian’s bid for statehood.
In Tel Aviv, a group of Israeli intellectuals has also taken out to the streets to support the Palestinians, RT correspondent Paula Slier reports.
According to Slier, university professors, writers and members of parliament are protesting outside the Museum of Independence, which is symbolic, as it was the venue where, back in 1948, Israel announced its state of independence.
The group is calling for Israeli Prime Minister Benjamin Netanyahu to recognize the Palestinian state and for both countries to coexist peacefully.
“At this juncture we believe that if Israel takes the active part and initiates and thinks outside of the box a bit and recognizes Palestine, the first country to recognize Palestine could be Israel and what a change that would be!”
one of the rally organizers, Tal Harris of OneVoice Movement, told RT.


Dr. Mukhaimer Abu Saada, political science professor at Gaza-based al-Azhar University points out that the Palestinians have long been trying to negotiate directly with Israel, but with no progress. Quite the opposite, the Palestinians continue to lose their lands to Israeli settlements.
“The Palestinians have been negotiating with the Israelis for 20 years now, for God’s sake, since the convening of the Madrid Peace Conference in October 1991 and the Oslo Agreement was signed in September 1993. It’s more than 18 years since the signing of the Oslo Agreement and we haven’t seen an end to the Israeli occupation,”
the political scientist told RT.
“What we see is expanding of Israeli settlements, expanding of the numbers of Israeli settlers. From 200,000 in 1993, now the number is 600,000 Israeli Jewish settlers living in the West Bank and East Jerusalem.”
It is the time for the international community to intervene, Abu Saada added.
“It’s a very frustrating situation, and I don’t know how much [longer] the Palestinian people can wait for the international community to intervene and put an end to this Israeli aggression and occupation,” he said.

China Slams America Over Taiwan Arms Deal...

China Slams America Over Taiwan Arms Deal...

Courtesy of rt.com

Chinese officials have lashed out at the Obama administration after the president of the United States pledged to offer the Taiwan military nearly $6 billion in upgrades.
Nearly 150 of Taiwan’s antiquated F-16 fighter jets will see improvements thanks to a $5.8 billion plan put before Congress yesterday. Taiwan had originally asked the US to help them with the acquiring of 66 new, high-tech aircraft, and while the US has not ruled out the possibility of lending a hand in the future, for now they will offer billions in aid to help build up the Taiwanese military.
Leaders in China are strongly opposed to the assistance, however, and continue to condemn the United States for their involvement in the neighboring island. The state-run news outlet Zinhua reports that Chinese Vice Foreign Minister Zhang Zhijun says the deal “will inevitably undermine bilateral relations as well as exchanges and cooperation in military and security areas” between his nation and the US.
American officials attest that the arms deal is not to be considered a slap in the face of China, but rather an offering of assurance to Taiwan that they will be able to continue security.
"We firmly believe that our arms sales to Taiwan contribute to the maintenance of peace and stability across the Taiwan Strait," State Department spokeswoman Victoria Nuland tells CNN.
Despite insistence from the US, China remains weary, however. Chinese Foreign Ministry officials have asked Ambassador Gary Locke to wage a “strong protest” on the deal, and the Washington Post reports that China’s ambassador in DC is also voicing outrage over the exchange.
“China strongly urges the United States to be fully aware of the high sensitivity and serious harm of the issue, seriously treat the solemn stance of China, honor its commitment and immediately cancel the wrong decision,” is the message Zhijun delivered to Locke.
The Post adds that the deal should not seriously damage relationships between the US and China, mostly because America is only equipping Taiwan with upgrades and not the fleet of several dozen space-age jets they asked for. Speaking to RT on the deal last week, investigative journalist Wayne Madsen predicted “If its weaponry that China doesn’t look at as aggressive towards China, they will probably be okay with it . . . But if it’s any sort of advanced weaponry, we're going to see some problems between Beijing and Washington.”
The United States has aided the military of Taiwan ever since World War 2 and is obligated to assistance under law. China, however, often offers criticism but eventually obliges to the exchange. “This is a kind of ritual and all the players know their roles,” Yawei Liu, director of the China Program at the Carter Center, tell The New York Times. “There is a script they follow and then hope things cool down so they can return to business as usual.”
Last year Beijing ended an alliance with the US military over another arms deal with Taiwan. This upgrades Obama proposed will go towards a fleet of jets that was purchased nearly 20 years ago.

Occupy Wall Street – America’s own Arab Spring?

Occupy Wall Street – America’s Own Arab Spring?

Courtesy of rt.com

Crowds gathered in New York’s financial district to protest Wall Street greed, corruption and lack of accountability. RT dove into the rally to find out whether this could be the beginning of America’s own Arab Spring.

“We’re going to shut down Wall Street! Shut it down! Shut it down! Blood-sucking war mongering bastards!”
These were the chants heard in New York’s financial district on Saturday – the first day of America’s attempt to follow the example of the Arab Spring. Social media had been abuzz with this planned occupation of Wall Street for months. Up to 20,000 people were supposed to spill out onto the streets, but not more than a thousand of the most fed up Americans showed up.
“I’ve got my sleeping bag and my pad. I was told not to bring a tent so I left that at home,” said activist Ben Green, who flew in from out of state to camp here day and night.
He had a simple message for the US president: “He’s backed out of everything he promised in the campaign. It’s like he’s asking to lose the next election.”
Wall Street greed, corruption and the lack of accountability that followed brought these Americans to the brink. Over 46 million people are living in poverty in the US – with 14 million unemployed. Much of this is triggered by the shameless gambling of Wall Street CEOs.
“This very spot, Wall Street, is a site of a heinous crime that’s been perpetrated by Wall Street bankers, who, instead of guarding people’s money speculated with reckless abandon and incompetence. They clipped the wings of the American dream,” said one protester clad in a Franklin D. Roosevelt mask.
“You’ve got these corporations that are paying no tax. I pay more tax than GE and Exxon,” said union worker Dan Peters.
“I spent a lot of years and a lot of money to get a degree. That degree is worthless now. Right now, they are more powerful than any emperor has ever been. We are facing an army of Caesars. And Caesar must fall,” said biologist Jimmy Holt.
Mayor Bloomberg has been warning New Yorkers that as youth unemployment skyrockets, riots could be around the corner. But at the demonstration on the street of the Big Apple,these people blame the mayor himself.
“Every day people want to be involved in politics, and we deserve to be involved in politics. And I don’t think you should have to be a billionaire like Michael Bloomberg to be involved in politics. Michael Bloomberg is a beautiful example of what’s wrong in this country,” said editor Emily Turonis.
But for demonstrations like this one to become a real force and not just a fringe group, more Americans will need to join these crowds.
“I expect the volume to get a little larger. All movements start off small. To answer your question, why there is so few people, the information that gets out is controlled by the mainstream media, the corporate media,” said hip-hop pioneer Radio Rahim.
So will the political and financial elite push Americans into launching their own Arab Spring or will they take note before the crowds swell out of control?
“We’re going to shut down Wall Street! Shut it down! Shut it down! Blood-sucking war mongering bastards!”
These were the chants heard in New York’s financial district on Saturday – the first day of America’s attempt to follow the example of the Arab Spring. Social media had been abuzz with this planned occupation of Wall Street for months. Up to 20,000 people were supposed to spill out onto the streets, but not more than a thousand of the most fed up Americans showed up.
“I’ve got my sleeping bag and my pad. I was told not to bring a tent so I left that at home,” said activist Ben Green, who flew in from out of state to camp here day and night.
He had a simple message for the US president: “He’s backed out of everything he promised in the campaign. It’s like he’s asking to lose the next election.”
Wall Street greed, corruption and the lack of accountability that followed brought these Americans to the brink. Over 46 million people are living in poverty in the US – with 14 million unemployed. Much of this is triggered by the shameless gambling of Wall Street CEOs.
“This very spot, Wall Street, is a site of a heinous crime that’s been perpetrated by Wall Street bankers, who, instead of guarding people’s money speculated with reckless abandon and incompetence. They clipped the wings of the American dream,” said one protester clad in a Franklin D. Roosevelt mask.
“You’ve got these corporations that are paying no tax. I pay more tax than GE and Exxon,” said union worker Dan Peters.
“I spent a lot of years and a lot of money to get a degree. That degree is worthless now. Right now, they are more powerful than any emperor has ever been. We are facing an army of Caesars. And Caesar must fall,” said biologist Jimmy Holt.
Mayor Bloomberg has been warning New Yorkers that as youth unemployment skyrockets, riots could be around the corner. But at the demonstration on the street of the Big Apple,these people blame the mayor himself.
“Every day people want to be involved in politics, and we deserve to be involved in politics. And I don’t think you should have to be a billionaire like Michael Bloomberg to be involved in politics. Michael Bloomberg is a beautiful example of what’s wrong in this country,” said editor Emily Turonis.
But for demonstrations like this one to become a real force and not just a fringe group, more Americans will need to join these crowds.
“I expect the volume to get a little larger. All movements start off small. To answer your question, why there is so few people, the information that gets out is controlled by the mainstream media, the corporate media,” said hip-hop pioneer Radio Rahim.
So will the political and financial elite push Americans into launching their own Arab Spring or will they take note before the crowds swell out of control?
Journalist and author David Degraw added to RT that places like New York City are perhaps the best example of how too-big-to-fail banks are causing the great American inequality to only worsen. As a result, he said, it's refreshing to see Americans finally taking to the street,
"Look at New York City where these protests are happening," said Degraw. "New York City has the inequality of wealth equal to places like Honduras, the most desperate third-world countries. You have Wall Street and a short subway ride north you have the Bronx."
"We have 50 million people living in poverty in this country," added Degraw, though those that call the shots are seemingly unaware.
"We have to get into the streets and show politicians, this is what we're working on here and this is what you have to work towards, otherwise you’re going to be voted out of office," added Degraw,
"We have to move now. We have to get into the streets. We have to pressure politicians."

US Building Drone Bases in Africa...

Courtesy of rt.com
Pakistanis have long asked America to get its drones out of their country. While Obama isn’t necessarily going to end spy-plane operations throughout Asia, it looks like the US is building drone bases elsewhere.
Now it appears as if the latest bases will be built in locales throughout Africa.
A report from the Washington Post reveals that the United States is expanding its controversial drone program into Africa, building bases throughout the continent in order to run unmanned planes over al-Qaeda territories in the ongoing War on Terror.
In the Post’s report, an unnamed source close to the operation confirms that the CIA is currently working on a secret base in the Arabian Peninsula in order to send more spy planes into Yemen. Bases are also said to be either in operation or under construction in Ethiopia and another in the Indian Ocean archipelago nation of Seychelles.
Both Seychelles and the United States had acknowledged the base in the past, but reported then that it was only there to track area pirate operations. The officials cited in the Post report, however, say that the increase in drone operations is being used to target al-Qaeda affiliates in Somalia and Yemen, as the US builds up its drone bases despite continuing criticism of the competency of the spy planes.
Drones are unmanned, robotic aircraft that are able to fly at twice the high of standard commercial aircraft and are able to spot insurgents from upwards of 100 miles away. Once identified, command stations operating elsewhere can collect intelligence or order in strikes on militants to be carried out by the craft.
These operations are rarely as successful as the US would hope, however. A February drone strike in the Afghanistan province of Oruzgan killed around two dozen civilians — including two children — when US operators of a robotic plane mistakenly identified the victims as members of the Taliban. A report published by the UK-based Bureau of Investigative Journalism last month suggested that at least 385 of the casualties caused by unmanned robotic America drones in Pakistan have been civilians. Additionally, the Bureau claims that at least 160 of those deaths were of children under the age of 18.
A senior US official responded to CNN at the time that only 50 civilians have been killed in civet CIA drone strikes since 2001. Since May, the official adds that he “can’t confirm any noncombatant casualties.”
Casualties in all, say the Bureau, are at least 40 percent higher than what the US government reports.
Regardless, it looks like that operation will only be extended in the years to come. The post writes that the US will have four drone airstrips in the Horn of Africa alone once the current constructions are completed, including one in the small nation of Djibouti.
One official quoted by the Post said that spreading out the drone bases could prove not just crucial to wartime operations, but for the US budget. “A lot of bases [around Afghanistan] we had to pay a hefty sum of money to operate out of,” said an official speaking under anonymity. “You don’t want all your eggs in one basket.”
Meanwhile the US announced last month that they will be investing $23 billion into spy planes over the next few years.

The Fed Reveals Last-Ditch Plan for Economy...

The Fed Reveals Last-Ditch Plan for Economy...

Courtesy of rt.com
All eyes are turning towards Ben Bernanke today as the Federal Reserve offers up its plan that many are hoping will save the American economy from worsening.
Today’s announcement from the Fed did not signal a third round of quantitative easing. Instead, rather, the Federal Reserve says they will begin a $400 billion program that will aim to sell-off short-term notes and thus use that income to purchase extended Treasuries in the future.
The Fed did almost the same back during the 1960s and actually managed to have somewhat of a positive effect on the American economy. Expert Eric Swanson writes in a paper unearthed by the Business Insider that the effect of “Operation Twist” during the Kennedy administration was significant for the US dollar.
Fifty years later, however, the plan does not necessarily guarantee a successful outcome for the US economy. As the International Monetary Fund, The Wall Street Journal and House Speaker John Boehner all voicing within the last week that a double-dip recession could indeed come to America, the Fed’s actions, no matter how they end up, could be the country’s only hope.
The Fed, meanwhile, acknowledges that times are tough.
"Recent indicators point to continuing weakness in overall labor market conditions, and the unemployment rate remains elevated," the Federal Reserve said in a statement today.
In other words, not much has changed this summer. Less than a month ago, Federal Reserve Chairman Ben Bernanke revealed to reporters that "The economic healing will take a while, and there may be setbacks along the way."
The Fed hopes that by switching to longer-term bonds, the rest of the financial community will attempt riskier moves and put their investments elsewhere, such as corporate bonds and stocks. Reuters reports that both The Bank of England and the Norwegian central bank recently revealed similar plans of their own to try and strengthen the economy. Should economic conditions worsen in Europe, economists abroad expect the crisis to come to the States soon after.
Around one year ago the Fed began their second round of quantitative easing, dubbed QE2. Weary of any more excess money printing, Texas Governor Rick Perry called a third round “treacherous.” Speaking from Iowa last month, Perry said, “If this guy prints more money between now and the election, I don’t know what you all would do to him in Iowa, but we would treat him pretty ugly down in Texas.”

NYPD Targeted Moroccans Based on Ethnicity...

NYPD Targeted Moroccans Based on Ethnicity...

Courtesy of rt.com
Undercover officers with the New York Police Department spied on Moroccans in the Big Apple and filed reports solely due to their ethnicity, reports the Associated Press today.
The Moroccan Initiative, as the NYPD has dubbed it, is a division of the highly controversial Demographics Unit that the AP exposed in reports released in the past weeks. Under the command of a CIA operative, a unit within the New York police force carried out clandestine surveillance and subjected local Muslims to ongoing watch in an effort to stop terror attacks before they occur, reports the AP.
The latest revelation unearthed by the AP suggested that officers within the NYPD’s Demographics Unit additionally launched an operation that targeted Moroccans in particular, regardless of any criminal history. Documents and interviews obtained by the Associated Press suggest, rather, that Moroccans became the subjects of surveillance based solely on their ethnicity.
According to the reports, undercover agents working within the unit shot photos and scribbled noted on the habitual, everyday activities of area Moroccans. Grocery stores, houses of worship, apartment complexes and delicatessens were identified where Moroccans either operated or attended, and from there the locales were chronicled in a massive database made available within the Police Department.
"A lot of these locations were innocent," one official involved in the effort told the AP under condition of anonymity. "They just happened to be in the community."
Other officials interviewed by the AP stated that the 2003 suicide bombings in Casablanca, Morocco and a 2004 bombing in Madrid, Spain could have been the cause for the NYPD to begin the Moroccan Initiative.
While the NYPD originally denied allegations of the existence of the Demographics Unit, they have since changed their story as the AP’s investigation unearths more and more evidence. The latest word out of the Big Apple’s boys in blue is that the unit did in fact exist, though it is was a small operation and is now defunct.
Mayor Michael Bloomberg, however, has stood by spying, saying that New York will go to all costs to keep the city safe. “We live in a dangerous world, and we have to be very proactive in making sure that we prevent terrorism," Mayor Bloomberg told reporters recently. He added that Muslims were in favor of increased police presence, saying, "I think most Muslims want police protection. They don't want their kids … falling off the … train and going down the wrong path.”
In the meantime, officials aligned with the Demographics Unit have confirmed that undercover officers blending into communities often went unnoticed by Muslims. Author Mordecai Dzikansky says he was aligned to the unit and that such operatives served as a “secret weapon.”
In the case of Moroccan Muslims profiled by the NYPD, it appears as though they were subjected to surveillance by undercover agents, but members of the NYPD would also carry out intensive interviews of Moroccan residents that were put under arrest. After facing charges by the NYPD, officers would question Moroccans on how they assimilated into American life, asking them about finding an apartment and religious centers.
The documents obtained by the AP contain notes from the Moroccan Initiate operatives in which they would detail religious paraphernalia in Moroccan households, regardless of if the resident was believed to be linked to any crime. New York City law prohibits the police from using religion — or race or ethnicity, for that matter, as "the determinative factor" for any law enforcement action, reports the AP.

Moody's Downgrades Too-Big-To-Fail

Moody's Downgrades Too-Big-To-Fail...

Courtesy of rt.com
Are the banking behemoths in America really too big to fail? One of the top credit raters in the country doesn’t think so.
Moody’s credit rating agency today downgraded Bank of America Corp, Wells Fargo & Co and Citigroup Inc, three of the largest banks in the United States. The decision comes three months after the agency launched a review of the banking giants when talks of downgrades first began to surface.
The decision to downgrade, dropped by Moody’s earlier today, has since only added to the volatility that have marred the markets since they opened this morning. While shares for BofA and Citigroup all slumped downward after the decision, the Dow Jones Industrial Average, Standard & Poor’s 500 Index and the Nasdaq Index have all showed unexpected plummets. The DJIA closed on Thursday at 10,734.05, showing a drop -390.79, or -3.51 percent.
Bank of America’s shares were down more than 6 percent by the end of Thursday. In their case, Moody’s downgraded their longer-term credit rating by two full notches from “A2” down to “Baa1.” The bank, however, says Moody’s wasn’t right in their actions.
“Moody’s decision to downgrade our credit rating is based on factors external to Bank of America: Their conclusion that the Dodd-Frank legislation will make the U.S. government less likely to support financial institutions in a crisis, and a possible further deterioration of the economy. In fact, Moody’s explicitly stated that the downgrades do not reflect a weakening of the intrinsic credit quality of Bank of America,” BofA says in a statement issued today.
Adds Bank of America, “While we disagree with their conclusions and we believe our ratings should be higher, to minimize any potential impact of this decision on our business, we have been managing our liquidity carefully and we have prefunded our planned borrowing needs for the year.”
Meanwhile, they aren’t the only ones questioning the downgrade. Rochdale Securities analyst Dick Bove told CNBC today that the decision was “absurd.”
“This is the largest bank in the United States. It has business with one out of every five households in the country,” adds Bove. “The assumption is that the United States government would allow this bank to go under and pull all of those other people under with it!"
Reuters reports that the downgrade comes from insiders in Moody’s that feel that the US is "more likely now than during the financial crisis to allow a large bank to fail should it become financially troubled.”

Racism, USA...

Racism, USA...

Courtesy of rt.com

While the US boycotts the UN Durban 3 conference on combating racism, racism and oppression are still deeply entrenched in America. Slavery and segregation maybe a thing of the past, but African Americans are still no where near achieving equality.
­A big fat “no” to an anti-racism meet-up at the UN – from the US and some of its friends with benefits.
“They want to protect each other. The United States because of its original sin of genocide against Native Americans and slavery, and the Europeans because of their ongoing neo-colonial ties to Africa and Asia,” said Glen Ford of the Black Agenda Report.
But is original sin all there is to it? More skeletons in the closet may be to blame for America’s refusal to participate in the “Durban 3” Conference.
“Bigoted racism, or hatred, or Jim Crow type of racism, it’s very much racism – and racism is unfortunately and regrettably still alive in America. There is no doubt about it,” said New York Pastor James David Manning.
Segregation between black and white is long over, but often not for people in neighborhoods like this one.
“I definitely believe racism is alive and kicking. Racism is a situation when an individual or a group of people make a decision to control the destiny of another group of people, based on their race,” said Sutek Amenra – a clothing manufacturer and activist for black movement, who tries to spread the word with his merchandise. “We live in a capitalist system. In order for capitalism to function you have to have the haves and the have-nots. It just so seems that the have-nots in the capitalist system are predominantly black”.
One in six Americans live below the poverty line. For African-Americans and Latinos – it’s one in four. Black unemployment is twice that of the white population – at over 16 and a half percent.

“A white job applicant with a prison background, that is a white ex-inmate, is more likely to get a call-back for a job, than a black applicant who has no prison record whatsoever,” said Glen Ford.
The set-backs start from early on. Playwrite Radha Blank looks at the future of black children in her latest play. “If you look at the achievement gap, the number of black children graduating from high school going on to college compared to those of white children, it’s very disparic,” she said.
The dark chapter of slavery has closed. The US now has the first black President in its history, but the present remains disturbing.
“Look at what we have inside the United States. We have young black and brown subjects, community colonial subjects being shot down in the streets. In an obsessive kind of way. Fifty shots. Sixty shots. Laying on our stomach. In our back,” said Dead Prez rap group duo member M1.
“Even if in terms of the racial disparity in capital sentencing, there are so many more black men on death row,” said Radha Blank.
Only 12.6 percent of the general population, blacks make up nearly half of the prison population in America.
“The way that works out globally is nearly 1 out of every 8 prison inmates on the planet is an African-American. If that is not evidence of a deep and abiding race problem in the United States, I don’t know what better proof one could present,” added Glen Ford of the Black Agenda Report.
In some cases, what lands them in jail is FBI entrapment. Alicia McWilliams’ nephew is serving 25 years behind bars. He wouldn’t be, she said, were he not lured in by official provocateurs.
“Look at what our government is doing, no one wants to look at what the USA is doing,” said Alicia Mc Williams.
The incarceration pandemic has ripple effects. Many states ban ex-felons from voting – sometimes – for life. Today, 1.4 million, or 13 percent of black men, can’t vote because of these laws.
“What if it were white women with red hair? What if it were Jewish people? It’s an astonishing kind of Gulag,” said clinical law professor and former FBI fugitive Bernardine Dohrn.
Gulags are discussed once they’re history. The US is apparently not prepared to admit to today’s truths yet.

“America wants to put up this face that they are the good guy, that there is all this benevolence going on here, and we take good care of our people here, when in actuality – they don’t,” said Sutek Amenra.
Out of sight – out of mind is an approach the US seems to be taking when it comes to racism at home. Attending an anti-racism meeting would be the simplest way to begin taking action. But with domestic details too embarrassing to reveal, America is choosing instead to turn a blind eye.

America's Infrastructure is Evaporating...

America's Infrastructure is Evaporating...

Courtesy of rt.com

America is literally falling apart. From natural disasters, to massive power blackouts, to bridge collapses, US infrastructure has shown that it is not up to standards.
­American investment in infrastructure is not keeping up with the rest of the world and could prove to be an economy killer.
A massive power outage that affected millions of people in America’s southwest highlighted vulnerabilities in the nation’s power infrastructure. The outage caused reactors to shut down at the San Onofre nuclear power plant and cut power to wastewater pumps, sending tons of sewage into the Pacific Ocean.  These are just the latest examples of a crumbling system.
"We haven’t had the kind of investment or the resources to put the investment into it to keep our infrastructure strong and safe," said Newark, New Jersey Mayor Corey Booker, during an interview on NBC’s  Meet the Press.
In the past years Americans have seen their levees fail leading to massive flooding and cracked bridges buckling, not to mention constant water main breaks and costly traffic congestion. In its report card of America’s infrastructure, The American Society of Civil Engineers gave the nation’s infrastructure a D grade and estimated $2.2 trillion over five years was needed to bring that up to a B.
"This has got to stop.  Our bridges can’t fall down.  We can’t have collapsing infrastructure that kills people, that hurts people, leaves us unsafe.  That’s just not the country we promised to be," said Richard Eskow, senior fellow with the Campaign for America’s Future.
Besides safety concerns, a crumbling infrastructure threatens to derail hopes of a significant economic recovery in the US, making it difficult to compete with the new powerhouses that see investing in infrastructure as a national priority and driving force of sustainable growth.
"Building a world class transportation system is part of what made us an economic superpower,” said President Barack Obama during an address to Congress.  “And now we’re going to sit back and watch China build better airports and faster railroads, at a time when millions of unemployed construction workers can build them right here in America," Obama added.
The US only spends 2.4 percent of  its Gross Domestic Product (GDP) on infrastructure.  Europe spends more than twice that and China outpaces everyone at 9 percent.
"We’re being lapped by the rest of the world," said Damien Goodmon, a public transportation advocate in Los Angeles.  “We’re no longer going to be number one. That’s reality,” Goodmon added.
Actually, the US is already far from the top. The World Economic Forum ranks America's infrastructure twenty-third in the world. Some blame a growing federal bureaucracy and a web of environmental regulations.
“There is no question it would take years to get over the various hurdles and hop scotches that these mega projects have to go through,” said Stefan Molymeaux, host of Free Domain Radio.
President Obama's proposal to significantly boost infrastructure spending could help create desperately needed jobs but with a gaping deficit and Washington politics in a gridlock, Americans may see this proposal grind to a screeching halt.