World-News

Henry A. Giroux, Truthout: "It appears ever more unlikely that the Obama administration will undo the havoc wrought by the Bush administration (itself the culmination of a decades-long trend toward market deregulation) or reverse the effects of a rampant free-market fundamentalism now unleashed across the globe. As the financial crisis looms large in the lives of the majority of Americans, government funds are used to bail out Wall Street bankers rather than being used to address either the growing impoverishment of the many people who have lost homes, jobs and hope of a better future, or the structural conditions that created such problems. In this scenario, a privileged minority retains the freedom to purchase time, goods, services, and security, while the vast majority of people are relegated to a life without protections, benefits, and safety supports. For those populations considered expendable, redundant and invisible by virtue of their race, class and age, life becomes increasingly precarious."

http://www.truthout.org/1130096



Housing Meltdown, Ground Zero: The American Home-Owning Dream on Life Support

Andy Kroll, TomDispatch.com: "At the end of a week in mid-October when the Dow Jones soared past 10,000, Goldman Sachs recorded 'just another fantastic quarter' with a $3.2 billion quarterly profit, JPMorgan Chase raked in a cool $3.6 billion, and a New York Times headline declared 'Bailout Helps Revive Banks, And Bonuses,' I spent a Saturday evening with about 100 people camped out in a northern California parking lot ... These people, and thousands more like them who had streamed into the arena all day long from as far away as Los Angeles, Phoenix and Las Vegas, were unemployed, broke, bankrupt or at their wit's end. They were here waiting for help - for their chance to make it inside the warm arena to participate in 'America's Best Mortgage Program.'"

http://www.truthout.org/1130093

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The Bank Job
http://www.lewrockwell.com/spl/the-bank-job.html



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