Drinking at the Public Fountain

In the last few years, the world's largest financial institutions and pension funds, from Goldman Sachs to Australia's Macquarie Bank, have figured out that old, trustworthy utilities and infrastructure could become reliable cash cows -- supporting the financial system's speculative junk derivatives with the real concrete of highways, water utilities, airports, harbors, and transit systems.

That Sucks You Into Feelin' Like This

Remember the Communists? The Red Menace? You young people won't of course, because as I sit here Monday night writing this sorrowful recitation Public Television is furnishing me with a gleaming, glowing, grand video hagiography of Ronald Reagan, by which I understand that The Great Communicator defeated those evil, dangerous threats to the American Way Of Life through toughness, resolve and horsemanship.

The $700,000,000,000 Power Punch

"Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency."

Language from Section 8
Treasury Financial Bail-out Proposal

Posted in Economy/Trade, Politics, Privatization

Global Priorities: Feeding Markets, Starving the Hungry

The world's private-sector giants have stepped on a financial minefield. In the past six months, three of America's top five investment banks have disappeared. The remaining two - Morgan Stanley and Goldman Sachs - are gasping for breath. While Morgan Stanley is considering merger options, the stocks of Goldman have slumped.

Strong tremors were felt all over the world.

Anyone Want to Buy a Private Pension Plan? Going Once…

That deafening silence you hear coming from the McCain campaign is straight-talkin' John touting his plan for privatizing Social Security...not. 

With Wall Street banks falling like dominoes, a hundred billion dollars vanishing overnight, and the Treasury Department scampering about with trying to prop up failing enterprises from Bear Stearns to Fannie Mae, and with domestic and global equity and bond markets swooning, Americans are afraid to open those envelopes that come every quarter telling them the value of their hard-earned 401(k) retirement plans. 

'Water Wars' a Bad Sign of Times

When my children come home from school, typically they put their books down and go pour a glass of fresh water out of the kitchen faucet. Increasingly, and internationally, all aspects of that image are in contention -- the glass, the availability and even cleanliness of tap water as compared to bottled water. In America, the issue prompted a congressional hearing last week.

McCain Would Privatize Social Security

The Republicans have already turned to sick sexual innuendo and nonsense about their vice-presidential candidate, pigs and lipstick in order to distract the public from the real issues in this campaign. One of the items that should be on top of the list of real issues is Senator McCain's plans to privatize and cut Social Security.

Military Industrial Complex 2.0

Seven years into George W. Bush's Global War on Terror, the Pentagon is embroiled in two big wars, a potentially explosive war of words with Tehran, and numerous smaller conflicts - and it is leaning ever more heavily on private military contractors to get by.

Once upon a time, soldiers did more than pick up a gun. They picked up trash. They cut hair and delivered mail. They fixed airplanes and inflated truck tires.