Lewis Black: America #1 (not).
The News out of the USA is driving the world nuts so I thought I would share Lewis Black’s “view of America.” Enjoy, subscribe rate and pass on. A Futile Bailout as Darkness Falls on America By PAUL CRAIG ROBERTS America has become a pretty discouraging place. Americans, for the most part, will never know what happened to them, because they no longer have a free and responsible press. They have Big Brothers press. For example, on September 28, 2008, a New York Times editorial blamed the current financial crisis on antiregulation disciples of the Reagan Revolution. What utter nonsense. Every example of deregulation that the New York Times editorial provides is located in the Clinton Administration and the George W. Bush administration. I was a member of the Reagan administration. We most certainly did not deregulate the financial system. The repeal of the Glass-Steagall Act, which separated commercial from investment banking, was the achievement of the Democratic Clinton Administration. It happened in 1999, over a decade after Reagan left office. It was in 2000 that derivatives and credit default swaps were excluded from regulation. The deregulation of the financial sector was achieved by the Democratic Clinton Administration and by the current Secretary of the Treasury, Henry Paulson, with the acquiescence of the Securities and Exchange Commission. The Paulson bailout saves his firm, Goldman Sachs. The Paulson bailout transfers the troubled financial instruments that the financial sector created from the books of the financial sector to the books of the taxpayers at the US Treasury. This is all the bailout does. It rescues the guilty. The Paulson bailout does not address the problem, which is the defaulting home mortgages. The defaults will continue, because the economy is sinking into recession. Homeowners are losing their jobs, and homeowners are being hit with rising mortgage payments resulting from adjustable rate mortgages and escalator interest rate clauses in their mortgages that make homeowners unable to service their debt. The impotence of Congress traces to the Great Depression. As Theodore Lowi in his classic book, The End of Liberalism, makes clear, the New Deal stripped Congress of its law-making power and gave it to the executive agencies. Prior to the New Deal, Congress wrote the laws. After the New Deal a bill is merely an authorization for executive agencies to create the law through regulations. The Paulson bailout has further diminished the legislative branchs power. Since Paulsons bailout of his firm and his financial friends does nothing to lessen the default rate on mortgages, how will the bailout play out? If the $700 billion bailout is based on an estimate of the current amount of bad mortgages, as the recession deepens and Americans lose their jobs, the default rate will rise. The $700 billion might not suffice. The Treasury will have to go hat in hand to its foreign creditors for more loans. Does the world have a blank check for Americas mistakes? Clearly, all Secretary Paulson thought about was getting troubled assets off the books of financial institutions. The same reckless leadership that gave us expensive wars based on false premises has now concocted an expensive bailout that does not address the problem, which will fester and become worse. Paul Craig Roberts was Assistant Secretary of the Treasury in the Reagan administration. He was Associate Editor of the Wall Street Journal editorial page and Contributing Editor of National Review. He is coauthor of The Tyranny of Good Intentions.He can be reached at: PaulCraigRoberts@yahoo.com
Author: afteramerica
Keywords: 2008 Campaign News HBO Comedy Central Fun Entertainment Freedom Love Hope HR3997 Zeitgeist economic collapse house senate palin obama mccain wallstreet great depression revolution ron paul financial meltdown october derivitive nuclear fdic bank holiday gold silver fiat currency federal reserve treasury department
Added: October 6, 2008
Source: youtube.com
4REAL Peru - Hanging on the Train
In 4REAL Peru, Cameron Diaz treks into the Andes mountains of Peru, where young medicine man, Puma Singona, of the Quechua tribe, is keeping his peoples ancient knowledge and wisdom alive. 4REAL premieres in the U.S. on The CW television network on Sunday October 5, 2008 at 5pm. Two episodes will air back to back every Sunday at 5pm for the next five months. For more info, hit up: http://www.cwtv.com/shows/4-real http://www.4REAL.com 4REAL is a TV series hosted by Sol Guy that takes celebrities on adventures around the world to connect with young leaders who, under extreme circumstances, are affecting REAL change on some of the most pressing issues of our time. REAL People - REAL Places - REAL Stories - REAL Change
Author: directcurrentmedia
Keywords: 4REAL 4Real 4-Real 4-real Real CW Sol Guy Cameron Diaz Peru Macchu Piccu Andes Mountain Cusco
Added: October 5, 2008
Source: youtube.com
IG Daily Market Update 06/10/2008
IG Daily Market Update 06/10/2008
Author: IGGroup
Keywords: IG market update index cfd spreadbetting barclays dow ftse rbs hbos rio billiton bp shell crude nymex
Added: October 6, 2008
Source: youtube.com
Extreme Sex! Really hot female teen gets it on UNCENSORED
www.1TVonPC.com - Free Satellite TV with Playboy, HBO, NFL, Football, Adult XXX, Nascar, ESPN. Free Movies on Demand. Free Adult Movies. Visit now
Author: 1TVonPC
Keywords: none
Added: October 6, 2008
Source: youtube.com
Sony’s Latest OLED TV Prototype Is 1 Millimeter Thin (PC World)
Sony has unveiled at the Ceatec 2008 show a prototype OLED TV set that’s just 0.9mm thin.
Source: www.pcworld.com
Finally, Youtube Allows Sex! TRUE UNCENSORED TEEN PORN!.flv
www.1TVonPC.com - Free Satellite TV with Playboy, HBO, NFL, Football, Adult XXX, Nascar, ESPN. Free Movies on Demand. Free Adult Movies. Visit now
Author: 1TVonPC
Keywords: none
Added: October 6, 2008
Source: youtube.com
Chalk Talk: TV show highlights student videos (San Mateo County Times)
A new public television series will spotlight movies created by Bay Area high school students.The series “Spotlight!” will debut at 7 p.m. Oct. 13 on KCSM-TV and will feature videos entered in College of San Mateo’s Annual High School Filmmaking Festival earlier this year.
Source: www.insidebayarea.com
4REAL Peru - Papa Ki Power
In 4REAL Peru, Cameron Diaz treks into the Andes mountains of Peru, where young medicine man, Puma Singona, of the Quechua tribe, is keeping his peoples ancient knowledge and wisdom alive. 4REAL premieres in the U.S. on The CW television network on Sunday October 5, 2008 at 5pm. Two episodes will air back to back every Sunday at 5pm for the next five months. For more info, hit up: http://www.cwtv.com/shows/4-real http://www.4REAL.com 4REAL is a TV series hosted by Sol Guy that takes celebrities on adventures around the world to connect with young leaders who, under extreme circumstances, are affecting REAL change on some of the most pressing issues of our time. REAL People - REAL Places - REAL Stories - REAL Change
Author: directcurrentmedia
Keywords: 4REAL real 4-real Cameron Diaz Sol Guy Peru Cusco Macchu Piccu Andes mountains Quechua
Added: October 5, 2008
Source: youtube.com
4REAL Peru - Bungee
In 4REAL Peru, Cameron Diaz treks into the Andes mountains of Peru, where young medicine man, Puma Singona, of the Quechua tribe, is keeping his peoples ancient knowledge and wisdom alive. 4REAL premieres in the U.S. on The CW television network on Sunday October 5, 2008 at 5pm. Two episodes will air back to back every Sunday at 5pm for the next five months. For more info, hit up: http://www.cwtv.com/shows/4-real http://www.4REAL.com 4REAL is a TV series hosted by Sol Guy that takes celebrities on adventures around the world to connect with young leaders who, under extreme circumstances, are affecting REAL change on some of the most pressing issues of our time. REAL People - REAL Places - REAL Stories - REAL Change
Author: directcurrentmedia
Keywords: 4REAL 4Real 4-Real 4-real Real Sol Guy Cameron Diaz Peru Cusco Quechua Quechuans Andes Mountains
Added: October 5, 2008
Source: youtube.com
4REAL Kenya - Connecting Continents
In 4REAL Kenya, hip hop star Knaan travels to Kenya’s Kibera, the largest slum in East Africa. There, he connects with local hero, Salim Mohamed, who runs a medical clinic and a soccer program for over 4,000 kids. 4REAL premiered in the U.S. on The CW television network on Sunday October 5, 2008 at 5pm. Two episodes will air back to back every Sunday at 5pm for the next five months. For more info, hit up: http://www.cwtv.com/shows/4-real http://www.4REAL.com 4REAL is a TV series hosted by Sol Guy that takes celebrities on adventures around the world to connect with young leaders who, under extreme circumstances, are affecting REAL change on some of the most pressing issues of our time. REAL People - REAL Places - REAL Stories - REAL Change
Author: directcurrentmedia
Keywords: 4REAL real 4-real Kenya Nairobi Kibera K’naan Carolina for hip hop soccer football
Added: October 5, 2008
Source: youtube.com
