Montag, 22. September 2008

Next-up news Nr 687

This Federal Bailout Proposal is a Disaster

No Recession for Arms Sales

Frida Berrigan, Foreign Policy in Focus: "The CEO of a weapons manufacturer has plenty of chances to rub elbows with deputy secretaries of defense, officials from Homeland Security, retired military personnel, and the best and brightest of the defense establishment almost any week of the year."

The Evolution of John McCain

Chip Ward, "Despite the media feeding frenzy, we still may be asking ourselves, 'Just who exactly is Sarah Palin?' Mixed in with the Davy-Crockett-meets-SuperMom vignettes -- all those moose hunting, ice fishing, snowmobiling, baby-juggling, and hockey-momming moments -- we've also learned that she doesn't care much for her former brother-in-law and wasn't afraid to use her office to go after his job as a state trooper; that she was for the 'bridge to nowhere' before she was against it; that she's against earmarks unless they benefit her constituents; that she can deliver a snappy wisecracking speech, thinks banning books in libraries is okay, considers herself a pit bull with lipstick, and above all else, wants to drill the ever-lovin' daylights out of every corner of her home state (which John McCain's handlers have somehow translated into being against Big Oil, since she insisted on a marginally bigger cut of the profits for Alaskans)."

Bush Brings WMD Line to Wall Street

Dean Baker, Truthout: "Remember how President Bush got Condoleezza Rice and Colin Powell to run around warning about Saddam Hussein's nuclear bombs? This phony scare tactic got Congress to give him the authorization he needed to start the Iraq war. Even though his credibility has vanished, in large part because of the Iraq war, President Bush is again using a lie to cow Congress into giving him a huge blank check. This time, the check is for $700 billion, to be handed over to Treasury Secretary Henry Paulson, to spend pretty much as he wants."

Can You Trust a Wall Street Veteran With a Wall Street Bailout?

Kevin G. Hall, McClatchy Newspapers: "Making the rounds on the Sunday morning talk shows, Treasury Secretary Henry Paulson repeatedly said today's financial problems were long in the making. He should know. He was part of the Gold Rush that has brought the global financial system to the brink of collapse. Paulson presided over one of the most profitable runs on Wall Street as chairman and chief executive officer of investment banking titan Goldman Sachs & Co. from 1999 until President Bush nominated him on May 30, 2006 to take over the Treasury Department."

Cash for Trash

Paul Krugman, The New York Times: "Some skeptics are calling Henry Paulson’s $700 billion rescue plan for the U.S. financial system 'cash for trash.' Others are calling the proposed legislation the Authorization for Use of Financial Force, after the Authorization for Use of Military Force, the infamous bill that gave the Bush administration the green light to invade Iraq."


Mushroom Cloud over Wall Street

"All Hail Caesar!" The days of the republic are over.

By Mike Whitney

"The bill gives Paulson the ability to nationalize unlimited amount of private debt and force you and your children to pay for it."


US Tax Payers To Bail Out Foreign Banks

Paulson: Foreign Banks can use U.S. Rescue Plan

By Mark Felsenthal

Treasury Secretary Henry Paulson said Sunday that foreign banks will be able to unload bad financial assets under a $700 billion U.S. proposal aimed at restoring order during a devastating financial crisis.

Families urged to join mast battle

Norwich Evening News - Norwich, England, UK

Families are being urged to fight a proposal to install a mobile phone mast in a built-up area in the city. Phone giant Orange wants to install a replica ...

Staatsministerin Hildegard Müller wechselt in die Energiewirtschaft

Die derzeitige Staatsministerin im Kanzleramt, Hildegard Müller (CDU), wechselt in die Energiewirtschaft. Wie Regierungssprecher Ulrich Wilhelm am Montag (22. September) in Berlin mitteilte, wird Müller zum 1. Oktober Hauptgeschäftsführerin des Bundesverbandes der Energie- und Wasserwirtschaft (BDEW). Sie will auch ihr Mandat im Bundestag und den Platz im CDU-Präsidium aufgeben. Müller wird am Mittwoch letztmalig an einer Kabinettssitzung teilnehmen. Sie war für die Bund-Länder-Koordination und für den so genannten "Bürokratieabbau" zuständig - zugunsten der Wirtschaft wurden zahlreiche gesetzliche Regelungen gestrichen.ürokratieabbau

Roll Back the Interest Rates

Marc Ash, Truthout: "The big bailout option doesn't fix the problem, it only converts the problem to national debt. The problem then lives on. Greed is not good...greed is not right...greed does not work. Roll back the interest rates, keep people in their homes, restore broad economic stability."

Nuclear Industry’s Financial and Safety Nightmare

ISIS Press Release 22/09/08

A devastating new report exposes UK’s unfolding nuclear catastrophe. Dr. Mae-Wan Ho

Voodoo economics dooms nuclear renaissance

Paul Brown, environmental correspondent of The Guardian newspaper in Britain, has produced a detailed report documenting why it is not possible to achieve what the UK Government says it will do, build a new generation of nuclear stations without public subsidy [1].

New build will not be possible without large sums of taxpayers’ money being pledged, and extending the unlimited guarantees to underwrite all the debts of the existing and future nuclear industry.”

One should point out here that it appears impossible to have new nuclear build in the United States even with extremely generous public subsidy [2] (Nuclear Renaissance Runs Aground, SiS 40). In the UK, there is already extensive hidden subsidy to the industry.

Brown’s report exposes how badly the nuclear industry has performed over the entire 50 years of unfulfilled promises, and the escalating bill to the taxpayer.

The UK nuclear industry, like that in the US [2], has never completed any project on time or on budget and has saddled the nation with a mammoth nuclear fuel reprocessing complex at Sellafield that’s a financial as well as safety nightmare.

British Energy, the commercial company privatised in 1996, soon ran into serious financial trouble [3] (see Box 1), and had to be taken over by the government. That meant the taxpayer has essentially underwritten all its debts and liabilities so the company can never go bankrupt. Brown remarks: “This commitment dwarfs the risk to the taxpayer of the Northern Rock nationalisation.” It means paying for the maintenance and decommissioning of ageing nuclear power stations, and worst of all, the upkeep of the Sellafield nuclear reprocessing complex.

Read the rest of this article here

This is the third of a five article series on nuclear power. Other titles are

Nuclear Renaissance Runs Aground

Close-up on Nuclear Safety

Read other articles about energy generation here

Mast action in Norway

I have just received the following from Norway - looks like an interesting link for any mast campaigners:


We had an action last Monday in Oslo/Norway. The antennas were not legal according to the procedures, that gave us the opportunity to cut down illegal equipment. The antennas were close to a roof terrace. The two major TV-channels followed the action, and we have had lots of articles and discussions. That was also our goal - to highlighten the problems with the radiation and the lack of safety regulations. If you want to use this video clip, please feel free. As my english is not the best, I hope you can rewrite my text.

Sissel Halmøy
Green Warriers of Norway


Shock as phone mast plans are submitted

Gloucestershire Gazette - Dursley, England, UK

"I had been so immensely heartened to hear the new approach the council was taking in the matter of mobile phone mast applications. ...

The (latest) bailout: Can America afford it?

Boston Globe


The Bush administration is seeking sweeping powers for what could become the biggest private sector bailout in the nation’s history, as economic policy makers try to end the gravest threats to the financial system since the Great Depression. In a proposal sent to Congress yesterday, Treasury Secretary Henry M. Paulson Jr. sought authority to spend up to $700 billion to buy troubled mortgage-related assets to restore confidence in stock and credit markets, which have lurched from crisis to crisis. Some analysts estimate the cost could top $1 trillion. In the long run, analysts said, the bailout should cost taxpayers far less than the initial outlay as the federal government resells assets once panicked financial markets return to normal. The upfront costs of the savings and loan crisis of the 1980s, for example, totaled more than $500 billion, but the price eventually fell to about $125 billion after bank assets, primarily real estate, were sold...

The mortgage buck stops where?

Christian Science Monitor
by staff


Like a subprime mortgage, Congress may soon put taxpayers on a risky hook for mortgages gone bad. The Bush administration wants authority to spend up to $700 billion, or about the cost of the Iraq war, to buy up troubled loans. A federal rescue effort may stem a financial market meltdown. But it shouldn’t be done without a reckoning. Americans need to hear a full-throated debate by lawmakers about the range of players in this mortgage maelstrom who either lied, took on too much debt, or failed to check creditworthiness as these loans were issued and then sold up the financial food chain to the point where it has become nearly impossible to determine their value. They also need to hear about the government’s role in encouraging a housing bubble — and that will mean Congress needs to look at itself. No longer should federal support for owning a home be based on the false premise that housing prices will always go up or that taxpayers are the final backstop for mortgage holders...

Government bailouts something only a socialist could love

by Phil Valentine


First, it was Fannie Mae and Freddie Mac. Now, the government is bailing out AIG, American International Group. They’re known most as an insurance company, but it wasn’t the insurance end of the business that caused them problems. It was their investment in — you guessed it — subprime mortgages. So, now we’re bailing them out for bad business decisions. Let’s follow this back to the beginning. The government started putting pressure on lenders to grant mortgages to people who, ordinarily, would be turned down. Mortgage companies did just that. Some of these people decided to take on a loan they really couldn’t afford because it was going to get them more house than they needed. Stupid mistake No. 1. The mortgage companies figured at the very least they could repossess the house if the people didn’t pay so they made the loan. Stupid mistake No. 2...

A bailout to nowhere

by Richard Rhames


Sadly and unsurprisingly the story is an old an familiar one: Government socializing costs and risk while securing the outlandish private profits of society’s greediest people. There’s nothing new here.
The more interesting question is whether we are at a point in our rather lamentable and bloody history when the usual tricks may no longer work. In a country that no longer manufactures much except weapons of war, or cultural weapons of mass distraction, kept afloat mainly by massive infusions of foreign capital, with a domestic / domesticated population famously dependent on “credit” and buried in personal debt, are we approaching the End of Something?

The Bailout Plan What does it mean?

Safe Haven
by Clive Maund


Many investors in the Precious Metals sector are worried that the “bailout plan” announced yesterday will resolve the crisis with the effect that things will return to normal and gold and silver will as a result go into retreat once more. Nothing could be further than the truth….. as far as arresting the financial crisis is concerned, it simply can’t work and won`t work - the proposed $1.2 trillion slush fund intended to fund this giant garbage dump is still peanuts compared to the towering $47 trillion debt market and the even larger derivatives time bomb. Not only will the bailout plan not work, but it is set to spread the contagion to a crucial area that has so far been sacrosanct - the US T-bond market...

Bail out or power grab?

Nolan Chart
by Darren Wolfe


The legislation being hammered out in our imperial capital to bail out financial institutions contains a decidedly dictatorial twist. Section 8 relates to review of the Secretary of the Treasury’s decisions. It reads as follows: ‘Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency’...

Informant: Thomas L. Knapp

Hilfe! Noch eine Chipkarte!

Von einer elektronischen Gesundheitskarte (eGK), die zu mehr fähig ist, als nur Patientendaten zu verwalten.

US bans train drivers from using mobile phones

A challenge to McCain?


Ohne Handy ins Abseits?


Kinder und Mobilfunk

Mobilfunk und Kinder

We admitted we were powerless over our addiction

Self-Defense for Me, Not You

The Government Is Not Promoting Stability

Covering the US government's economic depredations, police state enactments, and wars of aggression

The Truth About Gasoline Shortages

A Time To Choose

McCain: Crisis Enabler

Informant: Richard


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