Economic imperialism

Flashpoints on 04/03/09

Program: 
Flashpoints
Air date: 
Fri, 04/03/2009 - 10:15am - 11:00am

Host Dennis Bernstein speaks with Gerald Lemelle of Africa Action about African debt and the G-20 Summit, Lori Wallach of Public Citizen about deregulation and the G-20 Summit and Bonnie Robin-Vergeer of Public Citizen about the free speech of whistleblowers.

Flashpoints on 04/02/09

Program: 
Flashpoints
Air date: 
Thu, 04/02/2009 - 10:15am - 11:00am

A report on protests at the G-20 Summit in London, financial consultant Catherine Austin Fitts on the economic crisis, and a report on the new right wing government of Israel.

The History of Mexican - U.S. Relations

program date: 
Mon, 03/30/2009

 Host Joe Uris discusses the history of the relationship between Mexico and the U.S. in celebration of the birthday of the late leader Cesar Chavez.  Joe will talk about the Mexican-American War, the Treaty of Guadalupe Hidalgo, the "Zoot Sui

56:03 minutes (25.66 MB)

Political Perspectives on 04/02/09

Air date: 
Thu, 04/02/2009 - 9:30am - 10:00am

Host Per Fagereng interviews Ellen Hodgson Brown, author of "The Web of Debt: The Shocking Truth about Our Money System and How We Can Break Free." Ellen Brown says the banking system has been contrived so that big banks always get bailed out by the taxpayers from their risky ventures, but the scheme has reached its mathematical limits. There isn't enough money in the entire global economy to bail out the banks from a massive derivatives default today. When the investors realize that the "insurance" against catastrophe that they have purchased in the form of derivatives is worthless, they are liable to jump ship and bring the whole shaky edifice crashing down.

Flashpoints on 03/26/09

Program: 
Flashpoints
Air date: 
Thu, 03/26/2009 - 10:15am - 11:00am

Journalist John Ross on the hype about the drug trade in Mexico and Malik Rahim, founder of Common Ground Relief on the violence of poverty in the U.S.

Political Perspectives

Air date: 
Thu, 03/26/2009 - 9:30am - 10:00am

Host Per Fagereng speaks with Ravi Batra, professor of economics at Southern Methodist University and author of The New Golden Age: The Coming Revolution against Political Corruption and Economic Chaos. Batra predicted the financial meltdown way in advance, offering his latest forecast in February last year to Texas Monthly: “When the American bubble starts to burst around mid 2007, and beyond, foreign investors will head for the exits…” Now that the American housing bubble is bursting at the seems, Batra’s biggest fear is that foreign investors will indeed head for the exits, and the already feeble dollar will collapse. Then we will see a rapid unraveling of our debt based economy, rising unemployment, bulging poverty, and big stock market crashes.

Flashpoints on 03/25/09

Program: 
Flashpoints
Air date: 
Wed, 03/25/2009 - 10:15am - 11:00am

Financial adviser Catherine Austin Fitts analyzes the Treasury Department's plan for the economy and Ali Abunimah of the Electronic Intifada gives a postmortem on Gaza and looks at possibilities for justice and freedom for Palestinians.

Bail OUT!!! Socialism for the Rich, Democracy for the Not-So-Rich...

program date: 
Mon, 03/23/2009

 Abe and Joe dive into Tim Geithner's bank bailout plan, the ongoing looting of the Treasury, and the perks of membership in the ruling class.  

56:58 minutes (26.08 MB)

KBOO Community Calendar for Wednesday, March 25, 2009

program date: 
Tue, 03/24/2009

Greetings Cascadia! My name is Steve, and this is the KBOO Community Calendar for Wednesday, March 25th, 2009.

2:02 minutes (1.86 MB)

Krugman lays it down

The bank bailout plan is a stinker, sez Paul Krugman:

 

Over the weekend The Times and other newspapers reported leaked details about the Obama administration’s bank rescue plan, which is to be officially released this week. If the reports are correct, Tim Geithner, the Treasury secretary, has persuaded President Obama to recycle Bush administration policy — specifically, the “cash for trash” plan proposed, then abandoned, six months ago by then-Treasury Secretary Henry Paulson.

This is more than disappointing. In fact, it fills me with a sense of despair.

After all, we’ve just been through the firestorm over the A.I.G. bonuses, during which administration officials claimed that they knew nothing, couldn’t do anything, and anyway it was someone else’s fault. Meanwhile, the administration has failed to quell the public’s doubts about what banks are doing with taxpayer money.

And now Mr. Obama has apparently settled on a financial plan that, in essence, assumes that banks are fundamentally sound and that bankers know what they’re doing.

It’s as if the president were determined to confirm the growing perception that he and his economic team are out of touch, that their economic vision is clouded by excessively close ties to Wall Street. And by the time Mr. Obama realizes that he needs to change course, his political capital may be gone.

I think the operative phrase is "clouded by excessively close ties to Wall Street." Both Tim Geithner and Ben Bernanke are creatures of the massive entitlement culture that spawned the erstwhile Masters of the Universe. Basically, instead of following the "nationalization" plan of seizing the banks and placing them in receivership until their assets are rehabilitated -- a model that served us well during the last Bush-era financial brouhaha, the savings and loan scandal of the late 1980s, and a model that rescued the Swedish economy -- Geithner wants to purchase the "toxic" mortgage-derivative assets held by the banks at a far higher price than that at which the allegedly infallible free market values them. And he's willing to give them subsidies in order to do so.

Once again -- privatizing the profits, socializing the losses. Damn it feels good to be a banksta.

-A

 

 

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