April, 29 2010, 03:26pm EDT
For Immediate Release
Contact:
Sam Husseini, (202) 347-0020; or David Zupan, (541) 484-9167
Wall Street: * Analysis * Protests
WASHINGTON
ROBERT KUTTNER
Co-founder and co-editor of The American Prospect magazine, Kuttner is the author of the recent book A Presidency in Peril: The Inside Story of Obama's Promise, Wall Street's Power, and the Struggle to Control Our Economic Future.
He said today: "It's crucial that we now get a strong financial reform bill. This includes real reform on derivatives, so that banks aren't making deals on their own accounts and not betting against their clients. Wall Street must be brought down to size so that it serves the real economy."
DOUG HENWOOD
Editor of Left Business Observer, Henwood is the author of books including Wall Street. He said today: "It's nice to see Wall Street getting some seriously bad press -- and nice to see the Dems acquire a little class warrior fervor. And it was delightful to see all those Goldman Sachs guys get roasted before the Senate the other day. But I doubt much will come of all this. I fear that any legislation that passes will be so diluted and loophole-ridden that Wall Street can carry on with little impediment. And the Goldman hearing looks like a ritual sacrifice designed to appease an angry electorate, but with no lasting effect. I hope I'm wrong, but the thrust of policy over the last couple of years, under both Bush and Obama, has been to restore the status quo." Henwood writes regularly at doughenwood.wordpress.com
KRISTI BARNES
Communications director for New York Jobs with Justice, Barnes will be participating in a rally and march on Wall Street today (Thursday) at 4 p.m. Organizers are estimating that over 10,000 people will be marching. She said today: "We need to rein in Wall Street speculators in order to rebuild a sustainable economy that delivers good jobs for all. To prevent another economic crisis, we need serious financial reform that includes breaking up 'too big to fail' banks and creating a strong and an independent Consumer Financial Protection Agency." Barnes will be at the protest and will be Twittering live: twitter.com/nyjwj
PAM POWELL
Powell is currently on a bus with fellow United Auto Worker activists and workers traveling from Detroit to New York City. They will be protesting on Wall Street from 7 a.m. to 3 p.m. on Friday. She said today: "Our form of capitalism is so far out of balance that these bankers could just take our money and get bailed out with no strings -- and we're only now trying to really regulate them. I'm not sure how effective this [protest] will be, they're doing what they did before we bailed them out and they'll probably keep doing that after we've protested, but we're doing what we can as a group."
A nationwide consortium, the Institute for Public Accuracy (IPA) represents an unprecedented effort to bring other voices to the mass-media table often dominated by a few major think tanks. IPA works to broaden public discourse in mainstream media, while building communication with alternative media outlets and grassroots activists.
LATEST NEWS
US Under Fire for Downplaying Security Council Resolution as 'Nonbinding'
One expert accused the U.S. of working to "undermine and sabotage the U.N. Security Council, the 'rules-based order,' and international law."
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Biden administration officials attempted Monday to downplay the significance of a newly passed United Nations Security Council resolution, drawing ire from human rights advocates who said the U.S. is undercutting international law and stonewalling attempts to bring Israel's devastating military assault on Gaza to an end.
The resolution "demands an immediate cease-fire for the month of Ramadan respected by all parties, leading to a lasting sustainable cease-fire." The U.S., which previously vetoed several cease-fire resolutions, opted to abstain on Monday, allowing the measure to pass.
Shortly after the resolution's approval, several administration officials—including State Department spokesman Matthew Miller, White House National Security Council spokesman John Kirby, and U.S. Ambassador to the U.N. Linda Thomas-Greenfield—falsely characterized the measure as "nonbinding."
"It's a nonbinding resolution," Kirby told reporters. "So, there's no impact at all on Israel and Israel's ability to continue to go after Hamas."
Watch Matt Lee ask StateSpox about the passing of the UN ceasefire resolution. Basically the US position is it makes no difference and Miller calls 🇷🇺/🇨🇳 veto cynical.
Lee: Do you expect Israel is going to announce a ceasefire?
Miller: I do not
Lee: What’s the point of the UN? pic.twitter.com/FibaSKWjuh
— Assal Rad (@AssalRad) March 25, 2024
Josh Ruebner, an adjunct lecturer at Georgetown University and former policy director of the U.S. Campaign for Palestinian Rights, wrote in response that "there is no such thing as a 'nonbinding' Security Council resolution."
"Israel's failure to abide by this resolution must open the door to the immediate imposition of Chapter VII sanctions," Ruebner wrote.
Beatrice Fihn, the director of Lex International and former executive director of the International Campaign to Abolish Nuclear Weapons, condemned what she called the Biden administration's "appalling behavior" in the wake of the resolution's passage. Fihn said the administration's downplaying of the resolution shows how the U.S. works to "openly undermine and sabotage the U.N. Security Council, the 'rules-based order,' and international law."
In a Monday op-ed for Common Dreams, Phyllis Bennis, a senior fellow at the Institute for Policy Studies, warned that administration officials' claim that the resolution was "nonbinding" should be seen as "setting the stage for the U.S. government to violate the U.N. Charter by refusing to be bound by the resolution's terms."
While all U.N. Security Council resolutions are legally binding, they're difficult to enforce and regularly ignored by the Israeli government, which responded with outrage to the latest resolution and canceled an Israeli delegation's planned visit to the U.S.
Israel Katz, Israel's foreign minister,
wrote on social media Monday that "Israel will not cease fire."
The resolution passed amid growing global alarm over the humanitarian crisis that Israel has inflicted on the Gaza Strip, where most of the population of around 2.2 million is displaced and at increasingly dire risk of starvation.
Amnesty International secretary-general Agnes Callamard said Monday that it was "just plain irresponsible" of U.S. officials to "suggest that a resolution meant to save lives and address massive devastation and suffering can be disregarded."
In addition to demanding an immediate cease-fire, the Security Council resolution calls for the unconditional release of all remaining hostages and "emphasizes the urgent need to expand the flow of humanitarian assistance."
Israel has systematically obstructed aid deliveries to Gaza, including
U.S.-funded flour shipments.
Farhan Haq, deputy spokesman for the U.N. secretary-general, stressed during a briefing Monday that "all the resolutions of the Security Council are international law."
"They are as binding as international laws," Haq said.
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This is a developing story... Please check back for possible updates...
A state of emergency was declared in Maryland early Tuesday morning after a large cargo ship slammed into the Francis Scott Key Bridge in Baltimore leading to its total collapse and sending a still unverified number of vehicles and people into the Patapsco River.
As the Baltimore Sunreports:
In a Tuesday morning news conference, just a few hours after the incident, Baltimore Fire Department Chief James Wallace said authorities are "still very much in an active search and rescue posture" noting they are searching for "upwards of seven individuals" and that sonar has detected the presence of vehicles in the water. There is no indication that the event was intentional, Wallace said.
"This is a tragedy that you could never imagine … It looked like something out of an action movie," Mayor Brandon Scott said.
The terrifying footage of the bridge's collapse—which CNN correspondent Omar Jimenez commented was "almost unbelievable" to watch—is circulating widely on news channels and social media:
This video is almost unbelievable. The Francis Scott Key Bridge in Baltimore literally collapsed this morning after it was struck by this large ship. pic.twitter.com/rYuy4U2r7H
— Omar Jimenez (@OmarJimenez) March 26, 2024
U.S. Transportation Secretary Pete Buttigieg said Tuesday that he had spoken with Mayor Scott and well as Maryland Governor Wes Moore and was helping to coordinate federal assistance.
"Rescue efforts remain underway and drivers in the Baltimore area should follow local responder guidance on detours and response," said Buttigieg.
Moore said in a statement he had declared a state of emergency and that work was underway to "quickly deploy federal resources" to the area.
"We are thankful for the brave men and women who are carrying out efforts to rescue those involved and pray for everyone's safety," said Moore. "We will remain in close contact with federal, state, and local entities that are carrying out rescue efforts as we continue to assess and respond to this tragedy."
Kevin Cartwright of the Baltimore Fire Department told CNN that the number of missing people may be higher than reported in other outlets. "Unfortunately," said Cartwright, "we understand that there were up to 20 individuals who may be in the Patapsco River right now as well as multiple vehicles."
Early reporting indicated that no crew members aboard the container ship, which sails under a Singapore flag, were injured or missing. A local harbor pilot was also said to be on board at the time of the crash.
"Deeply concerned for the safety and well-being of everyone affected by the collapse of the Francis Scott Key Bridge in Baltimore," said Rep. Jamie Raskin (D-Md.) following the accident. "I'm profoundly thankful to first responders on the scene and will track rescue efforts by local, state, and federal authorities."
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"The Biden administration should take the opportunity to drop this dangerous case once and for all," said the executive director of the Freedom of the Press Foundation.
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The United Kingdom's High Court ruled Tuesday that WikiLeaks founder Julian Assange cannot immediately be extradited to the United States and gave the Biden administration three weeks to provide "assurances" that the publisher's First Amendment rights will be protected and that he won't face the death penalty.
If the U.S. does not provide the requested assurances, Assange will be allowed to pursue a limited appeal of his extradition. Should the U.S. submit assurances by the April 16 deadline, a hearing will be held on May 20 to determine whether they are "satisfactory."
Assange, whose health has deteriorated badly during his five years in a high-security London jail, faces 17 counts of violating the Espionage Act and a possible 175-year prison sentence in the U.S. for publishing classified information—a common journalistic practice. WikiLeaks disclosures exposed grave U.S. and U.K. war crimes in Iraq and Afghanistan.
Press freedom and human rights groups say the extradition of Assange to the U.S. would set a dangerous precedent and pose a dire threat to journalism everywhere.
Trevor Timm, executive director of the Freedom of the Press Foundation, said in a statement Tuesday that "we are glad Julian Assange is not getting extradited today."
"But this legal battle is far from over, and the threat to journalists and the news media from the Espionage Act charges against Assange remains," said Timm. "Assange's conviction in American courts would create a dangerous precedent that the U.S. government can and will use against reporters of all stripes who expose its wrongdoing or embarrass it. The Biden administration should take the opportunity to drop this dangerous case once and for all."
"It's long past time for the U.S. Justice Department to abandon the Espionage Act charges and resolve this case."
The U.S., which has been aggressively pursuing Assange's extradition for years, previously provided the U.K. government with assurances that Assange would not be held at a supermax prison that's notorious for its inhumane treatment of inmates.
Human rights groups have said such assurances from the U.S. government are "inherently unreliable" and should not be taken seriously by British authorities.
"While the U.S. has allegedly assured the U.K. that it will not violate Assange's rights, we know from past cases that such 'guarantees' are deeply flawed—and the diplomatic assurances so far in the Assange case are riddled with loopholes," noted Simon Crowther, legal adviser at Amnesty International.
"The U.S. must stop its politically motivated prosecution of Assange, which puts Assange and media freedom at risk worldwide," Crowther said Tuesday. "In trying to imprison him, the U.S. is sending an unambiguous warning to publishers and journalists everywhere that they too could be targeted and that it is not safe for them to receive and publish classified material—even if doing so is in the public interest."
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