Third Party & Independents Archives

Sunday Morning Rant

On healthcare: CNN reporting that the US ranked last of seven countries in quality of healthcare provided while costing 2x what other countries pay. Of course, all other countries were single payer, meaning gov’t provided healthcare systems. The US spends 17 percent of income on HC while other countries spend 7 percent.

This, while the GAO is reporting that the initial cost of Obamacare was somewhere around $900B, they are now reporting that the improved figure is somewhere around $1.7T.

We are aware of the fraud/corruption associated with gov't run medicare. Should we expect something different under Obamacare?

On Corpocracy: Goldman Sacs, a near perfect poster child for Corpocracy, has some speaking out as to the corruption/fraud associated with the megafinancial corporation. A recent employee of GS says the old firm just ain't what it used to be, corruption/fraud abounds. Richard Pearlstein, in a WaPo article, relates that GS hasn't changed but has always been two faced in dealing with their customers. For example, GS's Fabrice Tourre, created credit default swaps that would knowingly blow up so they could peddle one side of the bet to a client in on the joke and to another client ignorant of the game and assuming GS had their best interest at heart. GS recently paid up $500M for that scheme. And, they just got hit with a $7M fine for failing to properly supervise commodity trading accounts. Then we have John Corzine, MF Global, or was, on the carpet for stealing some $1B from customers accounts. John is an ex-governor and and ex GS emp. A Delaware court recently chastised GS in concluding that GS had seriously breeched its duty to the board and shareholders of El Paso Corp. in advising them to accept a takeover bid from Kinder Morgan, where GS held a 19%stake and two seats of the board orf directors.

Looking back, William Cohan writes in a WaPo article that GS has a long history of duping clients. He relates the corruption/fraud started with the Goldman Sacs Trading Corporation in 1926. Something about a notorious ponzi scheme right from the gitgo. He covers the 1970 bankruptcy of Penn Central Railroad. In this case GS was self serving, knowing that Penn Central was going under but keeping quiet and letting their clients take the big hit. A redo in 2010 when GS made a huge bet against the mortgage market in Dec 2006, netting the firm $4B in profit, while continuing to sell mortgage-backed securities to its clients at 100 cents on the dollar. Millions at stake in 1970 vs billions in 2007.

And, just when it seems there might be some Dodd-Frank regulations for Wall Street we are encountering the 'Jumpstart Our Business Startups Act' (JOBS) bill. This bill, if passed, would exempt corporations of a $B or less from some regulations. The supposed problem, determined through a survey of business owners, is that fewer businesses are issuing public stock because of onerous regulatory burden.

Pearlstein points out that from the mortgage and credit bubble, Enron, Worldcom and the tech and telecom bubble, the savings-and-loan crisis and generations of penny-stock scandals, is that financial markets are incapable of self regulation. The $1B requirement fits about 80% of companies that have recently gone public.

JOBS would exempt these 'small' companies from having to disclose the compensation of executives and other insiders, Exempt from having to hire outside auditors to assure they have internal controls sufficient to prevent and uncover investor fraud. Would repeal reforms put in place after the dot.com bust to protect the integrity and independence at investment banks that wind underwriting business by promising favorable reports from analysts. And, would allow bankers to issue glowing reports about an upcoming stock offering that would not be covered by the rules for accuracy that now apply. Allows for raising up to $1M in equity via the Internet from small investors without having to provide an audited financial statement , a description of the business or a description of the voting rights of shareholders.

EU nations have approved a second Greek bailout freeing a first installment of $51.5B. The IMF is kicking in another $38B for Greece. Assume the US taxpayer is part of that.
And, you know I like to deride the Corpocracy and their delusional/globalised free trade'scheme. You may recall Brazil/WTO winning some several billions through the court as the US was found to be subsidizing cotton farmers. The WTO has ruled that Boeing received billions (of your money) in improper gov't subsidies to compete with rival Airbus.

George Will writes in today's Wapo that there is a reason critics have called the Export-Import Bank 'Boeing's Bank' as America's biggest exporter is by far the biggest beneficiary of the bank's activities. Between 2005 and 2010 the bank financed or guaranteed the financing for purchases of 634 Boeing aircraft and in 2011 authorized $11.4B in financing for foreign firms to purchase Boeing aircraft. Richard Hirst, Delta's general counsel, said that if Delta had received the same loan guarantees that have supported the sale of Boeing aircraft his company would have saved $100M in financing costs.

The President is 'directing the bank' to offer United a subsidy to match any subsidy Canada offers to persuade United to choose the Montreal-made Bombardier as United chooses between it, Boeing and Airbus. So, American taxpayers will subsidize United to subsidize Boeing which is already being subsidized in ways injurious to Delta and others.
That's my rant for Sunday morning. But, who is authorizing all the above? The 535.and the 'at large' corpocracy of course.

Conjures up the need for a new 3rd party w/a diff pol att etc.

Otherwise, we have the Corpocracy we deserve.

Posted by Roy Ellis at March 18, 2012 5:47 PM
Comments
Comment #338736

I watched a show on CSPAN2 last night. Mark Levine (lawyer, Constitutionalist, radio host, and author) was speaking on a book tour. While scanning through the channels, I became captivated at his discussion about obamacare and many other things that have been taking place in America ever since the days of Woodrow Wilson. His book is “Ameritopiia, the unmaking of America” and I will have to read it. He points a gloomy picture of the future of our Republic unless the American voters wake up. The establishment Republicans and Democrats are both guilty of placing us in the position we are now facing. He said the greater purpose of obamacare was to begin a dismantling of the Constitution. There has been a movement in America, by both parties, to create a “utopia”, but a utopia is designed to work by the goodness of man, but man is a flawed character and the resulting utopia is destined to become what all other facist/communist designs for utopia have become, a failure.

Posted by: Beretta9 at March 19, 2012 9:24 AM
Comment #338738

I found a link to the interview with Mark Levine, if anyone s interested:

http://www.reaganfoundation.org/podcast.aspx

Posted by: Beretta9 at March 19, 2012 10:01 AM
Comment #338771
We are aware of the fraud/corruption associated with gov’t run medicare. Should we expect something different under Obamacare?

Roy Medicare is the victim of fraud perpetrated by individuals and groups that defraud the plan we all pay into. The overhead costs, even with the fraud, for medicare are minute compared to for profit insurance. The salaries and compensation for medicare officials are minute when compared to private sector insurance.

Beretta, I had the chance to listen to Levine on “patriot” radio, a Sirrus XM channel, while driving across country a moth ago. He reminds me of Glenn Beck with the misinformation half truths and outright lies that are part of his program.

How do you tell people that it started with Woodrow Wilson yet it is also starting with Obamacare and be taken seriously by anybody with any ability to reason?

Posted by: j2t2 at March 19, 2012 9:33 PM
Comment #338808


Beretta 9, I watched the interview and Levine is as J2t2 says. I guess he is believable if you don’t think about it.

Wilson was 100 years ago so the utopia sure is long in making.

The Garden of Eden is the standard for judging Utopias and I am extremely doubtful of Mans ability to duplicate it without going extinct.

Roy, economic utopia is what is being promised. If we will only poke out the government eye that sees, smash it’s hand that regulates, liposuction it’s entitlements out into the private sector, then corruption will disappear and a corpocratic utopia will emerge.

Posted by: jlw at March 20, 2012 12:03 AM
Comment #338934

I also watched the Levine interview. Are j2t2’s comments an attack on Levine or on what he said? If it’s on what he said, it would be easy to disprove him, if one wanted too. I personally did not hear any “misinformation half truths and outright lies”, and I didn’t hear him mention Glenn Beck, but I could be wrong.

Tell me jlw, was the goal of Fascism an overnight goal, or was Communism to be accomplished in one year or in a lifetime?

Are you saying that Levine is wrong and the goal of liberalism is not to create a utopia?

Posted by: Frank at March 20, 2012 12:24 PM
Comment #339090


Frank, oh, I get it, an utopia could take a 1000 years or more to create.

To create a better society, yes, but an utopia? No, I have no evidence to suggest that liberals want to create a utopia or even could if they wanted to. Do you? Does Levine? If he does, why didn’t he provide it in the interview rather than resorting to spinning talking points. You can really believe in something and want others to believe it as well, but that doesn’t mean it is true or it can happen.

An imaginary island where perfection in law, politics, etc., is enjoyed? Only a Saint could imagine a place like that.

In some ways it sounds nice, but IMO, humans are to flawed to enjoy it.

Boredom can lead to disobedience which can get you grounded.

I consider trying to create an utopia the same as trying to create a moral society. An utopia would have to be a moral society, wouldn’t it? Do you know any moral society Utopians?

Posted by: jlw at March 20, 2012 4:27 PM
Comment #339192
Are j2t2’s comments an attack on Levine or on what he said?

On his comments, that I heard when listening a month ago. I don’t know Levine but I suspect he is just a guy trying to earn a living off the gullible movement followers. They seem to be everywhere today.


If it’s on what he said, it would be easy to disprove him, if one wanted too.

Then do so, Frank. I don’t mind.

I personally did not hear any “misinformation half truths and outright lies”, and I didn’t hear him mention Glenn Beck, but I could be wrong.

Well that doesn’t surprise me on bit Frank. Sometimes you …oh never mind.

What I said was “he reminds me of Beck” not that he mentioned Glenn Beck. Perhaps that is why the “misinformation half truths and outright lies” escape you you Frank.


Frank aren’t the social conservatives trying to create a Theotopia in this country? Aren’t the uber wealthy trying to create a Corpotopia globally? Aren’t the neocons trying to create a newworlordertopia when they nation build in the middle east? Your so busy hunting liberal conspiracies that you miss the utopia creators in your midst.

Posted by: j2t2 at March 20, 2012 6:08 PM
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