Monday, February 28, 2011

Madoff: 'Whole government is a Ponzi scheme'



The Associated Press

NEW YORK — Wall Street swindler Bernard Madoff said in a magazine interview published Sunday that new regulatory reform enacted after the recent national financial crisis is laughable and that the federal government is a Ponzi scheme.

"The whole new regulatory reform is a joke," Madoff said during a telephone interview with New York magazine in which he discussed his disdain for the financial industry and for its regulators.

The interview was published on the magazine's website Sunday night.

Madoff did an earlier New York Times interview in which he accused banks and hedge funds of being "complicit" in his Ponzi scheme to fleece people out of billions of dollars. He said they failed to scrutinize the discrepancies between his regulatory filings and other information.

He said in the New York magazine interview the Securities and Exchange Commission "looks terrible in this thing," and he said the "whole government is a Ponzi scheme."

A Ponzi, or pyramid, scheme is a scam in which people are persuaded to invest through promises of unusually high returns, with early investors paid their returns out of money put in by later investors.

A court-appointed trustee seeking to recover money on behalf of the victims of Madoff's massive Ponzi scheme has filed a lawsuit against his primary banker, JPMorgan Chase, alleging the bank had suspected something wrong in his operation for years. The bank has denied any wrongdoing.

Madoff is serving a 150-year prison sentence in Butner, North Carolina, after pleading guilty in 2009 to fraud charges.

Story continues here:

http://www.msnbc.msn.com/id/41825072/ns/business-consumer_news/

Source: http://current.com/news/93034327_madoff-whole-government-is-a-ponzi-scheme.htm?xid=RSSfeed

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An Inconvenient Truth About ?Gasland?

The Academy of Motion Picture Arts and Sciences (COMINTERN) (AMPAS) are a bunch of suckers when it comes to Leftist propaganda films featuring outrageous, junk-science based, anti-capitalist claptrap. Just ask Al Gore, who won an Oscar a few years back for An Inconvenient Truth.

One of this year’s nominees in the Documentary Feature category is a film by Josh Fox and Trish Adlesic called Gasland. Too bad there’s no category for Documentary Fiction.

Here’s Gasland’s famous image of flammable tap water, from a Mr. Markham’s Colorado water well:

Source: http://www.redstate.com/vladimir/2011/02/27/an-inconvenient-truth-about-gasland/

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Plate of the Day

No, I’m not talking about food (one of my favorite subjects). A reader sent me this photo, of a license plate he spotted in Florida (natch). It says FREE QBA. In Ann Arbor, as in Havana, that could get the driver called a gusano. I think it’s a wonderful sight, that plate.

Author: 
Jay Nordlinger

Source: http://www.nationalreview.com/corner/260870/plate-day-jay-nordlinger

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Anonymous Declares War On The Koch Bros.



Dear Citizens of the United States of America,

It has come to our attention that the brothers, David and Charles Koch–the billionaire owners of Koch Industries–have long attempted to usurp American Democracy. Their actions to undermine the legitimate political process in Wisconsin are the final straw. Starting today we fight back.

Source: http://current.com/news/93030799_anonymous-declares-war-on-the-koch-bros.htm?xid=RSSfeed

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Academy Award Winner: The King's Speech



Of its twelve nominations, The King's Speech walked away with four wins: Best Picture, Best Actor, Best Director, and Best Original Screenplay.

Source: http://current.com/shows/infomania/92911604_the-kings-speech-reviewed-by-rotten-tomatoes-on-infomania.htm

senate house race debt commision

Thanks for the Nader Comparison, But . . .

Over at Herb Croly’s formerly Republican journal of opinion, young whippersnapper Jonathan Chait takes exception to my postings on crony capitalism yesterday at the Corner: “I always enjoy the general pattern of right-wing commentators to [sic] ignore the effects of economic self-interest upon the influence of big money in politics until such time as an interest group support [sic] Democrats, at which point they will sound like Ralph Nader on coke.” As an ex–newspaper guy, Jonathan, I appreciate the comparison to St. Ralph, but at my age I have trouble with Coke, let alone coke.

Populism isn’t anything new to Republicans. Take Herb’s old buddy Teddy, the guy who busted trusts, much as I reported Thomas M. Hoenig, president of the Federal Reserve Bank of Kansas City, has recommended happen to the TBTFs. The problem of crony capitalism is a theme of our Jonah Goldberg’s book Liberal Fascism, not to mention the work of regular contributor Nicole Gelinas, who chimed in yesterday that “the answer is not to rail impotently against big, bad finance (as politicians of both parties do), but calmly to make finance subject to market forces.” You could write a book about the Republican approach to reforming Wall Street. Actually, Nicole has.

The only thing that really annoyed me is that Chait seems to have ignored the main point of my posts, which is that we need to end “Too Big to Fail” and with it the revolving door between Washington and Wall Street, which has persisted through the last three administrations. Do progressives have a problem with making the White House, Treasury, and the Fed a TBTF-free zone? This should be a bipartisan issue, like keeping pedophiles away from elementary schools.

Author: 
Lou Dolinar

Source: http://www.nationalreview.com/corner/260773/thanks-nader-comparison-lou-dolinar

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NARN, the Gone Wisconsin Edition!

1-3 CT, live video & chat!

Source: http://hotair.com/archives/2011/02/26/narn-the-gone-wisconsin-edition/

debt commision media matter glenn beck

One reason why Wisconsin needed union reform: captive benefits

Monopoly.

Source: http://hotair.com/archives/2011/02/26/one-reason-why-wisconsin-needed-union-reform-captive-benefits/

house race debt commision media matter

Sunday, February 27, 2011

Three Years Ago

What we looked like. 

Author: 
Kathryn Jean Lopez

Source: http://www.nationalreview.com/corner/260809/three-years-ago-kathryn-jean-lopez

senate house race debt commision

Delaware Supreme Court Throws Out $80,000 Fine in Silly Discrimination Case

The Delaware Human Relations Commission (HRC) in 2008 imposed a $80,000 fine on Carmike Cinemas for the allegedly racist actions of one of its theater managers, in a classic example of how liberals can find discrimination where there is none. Thankfully, the Delaware Supreme Court has thrown out that $80,000 fine.

The HRC had claimed that a theater manager used a “condescending tone” to tell a sold-out theater audience watching a Tyler Perry movie (Why Did I Get Married?) to please silence their cell phones so everyone could enjoy the movie. One of the audience members was Juana Fuentes-Bowles, director of the state’s Human Relations Division. She stood up and claimed the manager’s announcement was blatantly “racist.” Why? Because he was addressing a largely black crowd and his tone struck her ears as “offensive and condescending.”

Bowles actually solicited audience members to file complaints; 33 complied. The HRC, apparently trying to prove what a waste of money its budget is, ruled that the announcement violated the state’s equal-access law because it was “hostile.”

The $80,000 was made up of awards of $1,500 for each of the complaining audience members, a fine of $5,000, and more than $20,000 in attorneys’ fees. Getting paid $1,500 to watch a Tyler Perry movie -- talk about jackpot justice!

It is these kinds of ridiculous complaints that leave more and more people these days yawning when someone claims racism.

Author: 
Hans A. von Spakovsky

Source: http://www.nationalreview.com/corner/260770/delaware-supreme-court-throws-out-80000-fine-silly-discrimination-case-hans-von-spakov

media matter glenn beck rush limbaugh

Shutdown averted, probably: Dems praise GOP?s temporary budget to keep government funded

Peace.

Source: http://hotair.com/archives/2011/02/25/shutdown-averted-probably-dems-praise-gops-temporary-budget-to-keep-government-funded/

debt commision media matter glenn beck

It?s What Happens When an Unstoppable Force Hits a Malleable Object

“Barack Obama and the Democrats have misread voter sentiment throughout the last two years. There is nothing to indicate they will get it right this time.”

We stare into the abyss today ? the abyss that comes when a political party’s spine is removed and we stare down into the cavity . . . longingly . . . waiting . . . dreaming of what might have been.

Friends, I write this hoping the events I predict will not happen, but I suspect the events will happen. You need to understand what is at play today in Washington. There are two competing forces.

The first force is that of the Democrats and their unstoppable desire for a government shutdown. You read that right. The Democrats, not the Republicans, are desperate for a government shutdown. Barack Obama needs a government shutdown.

Everyone in Washington is fixated on the Myth of 1995. In the MythTM, nasty Republicans shut down Washington, DC, starving old people and children, denying passports to refugees from the crisis, and gunning down our soldiers in harm’s way because the government could not buy and ship bullets to respond. Yogi Bear also starved to death because no tourists with their picnic baskets could get into Jellystone.

In the MythTM, Bill Clinton was transcendent and triumphant. He outmaneuvered the GOP, reopened the government, and cruised to re-election vanquishing the GOP. Don’t believe me? Just watch the West Wing episode cementing the MythTM as fact.

In fact, I hear David Axelrod, Plouffe, and Jay Carney keep coming out of the White House bathroom red raced, sweaty, and slightly blind and the only thing left in the bathroom is a flatscreen running that episode over and over and some hand sanitizer.

It is the MythTM.

John Boehner, who was in Newt Gingrich’s leadership team, remembers the MythTM. He remembers how the failed GOP PR battle, Bob Dole’s betrayal, Gingrich’s ham fisted handling of the matter, etc. sabotaged the GOP. The GOP, being the stupid party, botched the PR campaign. So despite getting a balanced budget and welfare reform by forcing a shutdown and gaining seats in the Senate while holding their own in the House, John Boehner and the House GOP leadership have bought into the MythTM.

We are now left with the unstoppable force of the White House and Democrats wanting a shutdown impacting the malleable object that is the Republicans’ spine desperate to contort its way into a spin that it cut spending and kept Washington open.

The impact here is going to be huge. Let me tell you why.

Again, the White House and Democrats are desperate for a shutdown so Barack Obama can, like Bill Clinton in the MythTM, be transcendent and leader looking.

John Boehner, Eric Cantor, Paul Ryan, and Mitch McConnell are desperate to not have a shutdown lest they get blamed and hurt in 2012.

The consequence of this will be Chuck Schumer in the Senate sensing the yellow growing down the spine of the GOP. The Democrats will draw a firm line in the sand daring the GOP to cross it. The GOP will, in turn, walk as far away from the line as possible.

Gone will be the defunding of Planned Parenthood.

Gone will be defunding of government abortions in the District of Columbia.

Gone will be the major spending cuts.

Gone will be virtually any fiscal discipline.

They will not even attempt to defund Obamacare.

The GOP will give the White House whatever it wants just so the GOP can avoid being blamed for a shutdown.

Hopefully someone ? maybe the House GOP Freshmen and guys like DeMint, Lee, Paul, and Toomey ? will recognize that 2011 is not 1995.

Voters want spending cuts. Voters are sympathetic to a conservative coalition hellbent on reining in Washington.

Barack Obama and the Democrats have misread voter sentiment throughout the last two years. There is nothing to indicate they will get it right this time. If the GOP stands up for spending cuts and budgetary reform, the Democrats may very well force a shutdown.

Already their friends in the media are beginning to regurgitate the MythTM and suggest it is the GOP, not the Democrats, who want the shutdown. What the media fails to see is that some of us do want a shutdown ? hell, I want a shutdown ? but Eric Cantor, Paul Ryan, etc. will do everything in their power to prevent that from happening.

If a shutdown happens, it will be because the Democrats, more than the GOP, bought into the MythTM and the MythTM simply was what it was ? a myth.

The GOP needs to fight for spending cuts and not roll over. Unfortunately, unless we keep the pressure on, I’m afraid the GOP will indeed roll over and do everything in their power to avoid a shutdown.

The GOP can win the PR battle if the government shuts down. They just don’t think they can.

And they’d rather good press than principle any day of the week.

Source: http://www.redstate.com/erick/2011/02/25/its-what-happens-when-an-unstoppable-force-hits-a-malleable-object/

barack obama senate house race

HUNDREDS Turn Out at “Recall Senator Wirch” Rally in Wisconsin

Source: http://feedproxy.google.com/~r/gatewaypundit2/~3/4ZxftcvuRIs/

glenn beck rush limbaugh nancy pelosi

Shutdown averted, probably: Dems praise GOP?s temporary budget to keep government funded

Peace.

Source: http://hotair.com/archives/2011/02/25/shutdown-averted-probably-dems-praise-gops-temporary-budget-to-keep-government-funded/

glenn beck rush limbaugh nancy pelosi

Video: Union protesters figure out who the real terrorists are

Heh.

Source: http://hotair.com/archives/2011/02/25/video-union-protesters-figure-out-who-the-real-terrorists-are/

rush limbaugh nancy pelosi barack obama

PHOTOS, VIDEO: Massive Crowds ? and Organizing ? in Madison

MADISON, WI (FDL) - On a cold, snowy day in Madison, men and women from across the state have descended on the state Capitol. Inside is still packed, but outside, the stage on State Street has already drawn tens of thousands. A variety of music acts - including a union-friendly version of Eminem - have played for the audiences. Local news puts the number at at least 35,000 already - and the main march has been called for 3:00, two hours from now.

Source: http://feedproxy.google.com/~r/firedoglake/fdl/~3/pUVJnsfduXM/

nancy pelosi barack obama senate

Saturday, February 26, 2011

Letter of the day: The plight of the conservative public school teacher

Yesterday, I posted on public school teachers speaking truth to prog power — a topic I’ve been reporting on since the late-1990s, when I covered the battle of brave dissident educators who challenged the Washington Education Association’s misuse and abuse of forced dues for Democrat politics. Tonight, another public school teacher shared his thoughts with [...]

Source: http://michellemalkin.com/2011/02/24/letter-of-the-day-the-plight-of-the-conservative-public-school-teacher/

rush limbaugh nancy pelosi barack obama

Cartoon of the Day

CARTOON OF THE DAYBY MICHAEL RAMIREZ   02/26
In Complete Control
Author: 
Kathryn Jean Lopez

Source: http://www.nationalreview.com/corner/260794/cartoon-day-kathryn-jean-lopez

glenn beck rush limbaugh nancy pelosi

Op Wisconsin. Stand with our brothers!



Dear Citizens of the United States of America,

It has come to our attention that the brothers, David and Charles Koch--the billionaire owners of Koch Industries--have long attempted to usurp American Democracy. Their actions to undermine the legitimate political process in Wisconsin are the final straw. Starting today we fight back.

Koch Industries, and oligarchs like them, have most recently started to manipulate the political agenda in Wisconsin. Governor Walker's union-busting budget plan contains a clause that went nearly un-noticed. This clause would allow the sale of publicly owned utility plants in Wisconsin to private parties (specifically, Koch Industries) at any price, no matter how low, without a public bidding process. The Koch's have helped to fuel the unrest in Wisconsin and the drive behind the bill to eliminate the collective bargaining power of unions in a bid to gain a monopoly over the state's power supplies.

The Koch brothers have made a science of fabricating 'grassroots' organizations and advertising campaigns to support them in an attempt to sway voters based on their falsehoods. Americans for Prosperity, Club for Growth and Citizens United are just a few of these organizations. In a world where corporate money has become the lifeblood of political influence, the labor unions are one of the few ways citizens have to fight against corporate greed. Anonymous cannot ignore the plight of the citizen-workers of Wisconsin, or the opportunity to fight for the people in America's broken political system. For these reasons, we feel that the Koch brothers threaten the United States democratic system and, by extension, all freedom-loving individuals everywhere. As such, we have no choice but to spread the word of the Koch brothers' political manipulation, their single-minded intent and the insidious truth of their actions in Wisconsin, for all to witness.

Anonymous hears the voice of the downtrodden American people, whose rights and liberties are being systematically removed one by one, even when their own government refuses to listen or worse - is complicit in these attacks. We are actively seeking vulnerabilities, but in the mean time we are calling for all supporters of true Democracy, and Freedom of The People, to boycott all Koch Industries' paper products. We welcome unions across the globe to join us in this boycott to show that you will not allow big business to dictate your freedom.

U.S. Product Boycott List

•Vanity Fair
•Quilted Northern
•Angel Soft
•Sparkle
•Brawny
•Mardi Gras
•Dixie
European Product Boycott List

•Demak'Up
•Kitten Soft
•Lotus / Lotus Soft
•Tenderly
•Nouvelle Soft
•Okay Ktchen Towels
•Colhogar
•Delica
•Inversoft
•Tutto

To identify these brands, please look for the following logo anywhere on the packaging:

Source: http://current.com/news/93028484_op-wisconsin-stand-with-our-brothers.htm?xid=RSSfeed

debt commision media matter glenn beck