Sunday, June 12, 2011

Government's Place in the Market, Republicans Destabilizing Dems Like CIA Does to Countries

Tags: Government's Place in the Market, Eliot Spitzer Talk at MIT, Externality, Corporations Ignore Costs to Others, GOP's CIA Playbook: Destabilize Country to Sweep Back Into Power

Government's Place in the Market, Eliot Spitzer Talk at MIT

He gave the talk to MIT business school students who looked quite grim during Spitzer's talk about Wall Street. Just one student admitted that he will try to get into Goldman Sachs.

As New York attorney general he became aware that Banks were issuing subprime mortgages in 1999 and started looking into it. In 2005 he won a law suit that stopped its worse abuses in New York and he thought the banks would behave. They did not.

Goldman Sachs knew that the mortgage market is going to collapse and bought a huge amount SWAPS insurance from AIG and others, but kept selling the bad stuff to other banks and institutions in December 2006. Yes, 2006 when Secretary Paulson was probably in charge. He was the one that introduced it to Goldman during his tenure.

Spitzer talked about why Obama is so ineffective putting forward progressive programs. He believes that compromise is the only way. He seems to have no principles that he is willing to push. The other huge mistake Obama made is not to go full force in changing the Financial system and improve rules instead of spending so much time on Healthcare. Yes, he could have done both.

Yes, our Media and Press do have experts from the CIA helping them put forth propaganda with a good face. CNN was caught once and there has been rumors that CIA is operating in the basement of major newspapers, but so far as I know, no one has proven this.

In any case the Heritage Foundation, Free Enterprise Institute, Koch Brothers, Chamber of Commerce, and other Think Tanks are experts at providing soundbite propaganda where reporters and news hosts do not have time to really research the facts news so appreciate getting their blurb. Rachel Maddow's team and others have to do their own research at MSNBC for the evening ET broadcasts.

In our current environment which may take decades to change, making more profits by corporations without taking into account the public costs their activity engenders. For example Ohio used high sulfur coal because it was cheaper and controlled their coal emission pollution in Ohio by just extending the exit pipe to 1000 feet so the pollution does not settle in Ohio but in New York where the acid rains have destroyed trees and killed fish in lakes. Another example is fracking to give us lots of natural gas without considering more carefully the side effects such as aquifer pollution, especially in places like Texas and Montana where rain can be scarce, and even earthquakes happened in Missouri. When they stopped their operations, the earthquakes stopped.

One of the books Spitzer recommended is on Google Books. It is short book by Albert Hirshman at Princeton in 1982. I have started reading it. It is quite good and called Shifting Involvements: Private Interest and Public Action. It basically says that both private and public actions which look very good in itself as maximizing profits without considering externality. Noun: A side effect or consequence of an industrial or commercial activity that affects other parties without this being reflected in the cost of the goods or services involved, such as the pollination of surrounding crops by bees kept for honey. More »

Eliot Spitzer 1 hr 4 minutes You have to go to the particular link that C-Span has for this video or your searches turn up nothing. Normally I gave up early, but this time I persisted and found the Spitzer video.

Jim Kawakami, June 12, 2011,

Government's Place in the Market

Eliot Spitzer

About the Program

Eliot Spitzer, former Governor of New York and New York State Attorney General, presents his thoughts on when the government should intervene in the financial market. Mr. Spitzer argues that government assistance given to the banking industry in 2009 was a poor decision, as it forced the American public to share in bank's risks without benefit. The author posits when intervention is appropriate and details how the government can reestablish the public's trust. Eliot Spitzer is in conversation with Simon Johnson, co-author of 13 Bankers: The Wall Street Takeover and the Next Financial Meltdown at the Massachusetts Institute of Technology in Cambridge, Massachusetts.

About the Authors

Eliot Spitzer

Eliot Spitzer is a former Governor of New York and New York State Attorney General. He is currently the host of CNN's In the Arena.

Republicans Destabilizing Dems Like CIA Does to Countries

Representative Wiener is an example of what Breitbart and the Republicans do. They use CIA tactics to destroy the Democrats regardless of what it is doing to our country. They lie without even being guilty about lying and make salacious video that completely lies about what really went on. I am not sure what we can do about the propaganda in the corporate media. It is so pervasive and subtle that viewers have very little chance of detecting it unless they have some prior knowledge.

The Republicans are very good at doing this with huge support from the wealthy and corporations. The connotation is similar to the Vietnam book "The Best and the Brightest" has changed horses to do what pays more such as advising on torture and selling Americans a bunch of product and ideas crap.

If the Democrats had the money and control of the media as the Republicans do, the same would not happen and did not happen whenever the many sex and criminal activities committed en masse occurred in the 1980s and 2000s. Yes, our military and CIA is filled with Right Wingers. See article excerpt below.

The GOP's CIA Playbook: Destabilize Country to Sweep Back Into Power

Modern Republicans have a simple approach to politics when they are not in the White House: Make America as ungovernable as possible by using almost any means available.
Consortium News Robert Parry, June 9, 2011, ... Under the direction of President Richard Nixon and Secretary of State Henry Kissinger, the CIA was dispatched to engage in psychological warfare against Allende’s government and to make the Chilean economy “scream.”

U.S. intelligence agencies secretly sponsored Chilean news outlets, like the influential newspaper El Mercurio, and supported “populist” uprisings of truckers and housewives. On the economic front, the CIA coordinated efforts to starve the Chilean government of funds and to drive unemployment higher. ...

Obviously, given the wealth of the American elites, the relative proportion of the propaganda funding is derived more domestically in the United States than it would be in a place like Chile (or some other unfortunate Third World country that has gotten on Washington’s bad side).

But the concept remains the same: Control as much as possible what the population gets to see and hear; create chaos for your opponent’s government, economically and politically; blame if for the mess; and establish in the minds of the voters that their only way out is to submit, that the pain will stop once your side is back in power.

Today’s Republicans have fully embraced this concept of political warfare, whereas the Democrats generally have tried to play by the old rules, acquiescing when Republicans are in office with the goal of “making government work,” even if the Republicans are setting the agenda.

Unlike the Democrats and the Left, the Republicans and the Right have prepared themselves for this battle, almost as if they are following a CIA training manual. They have invested tens of billions of dollars in a propaganda infrastructure that operates 24/7, year-round, to spot and exploit missteps by political enemies.

This vertically integrated media machine allows useful information to move quickly from a right-wing blog to talk radio to Fox News to the Wall Street Journal to conservative magazines and book publishing. Right-wing propagandists are well-trained and well-funded so they can be deployed to all manner of public outlets to hammer home the talking points.

When a Democrat somehow does manage to get into the White House, Republicans in Congress (and even in the Courts) are ready to do their part in the destabilization campaign. Rather than grant traditional “honeymoon” periods of cooperation with the president’s early policies, the battle lines are drawn immediately.

In late 1992, for instance, Bill Clinton complained that his “honeymoon” didn’t even last through the transition, the two-plus months before a new president takes office. He found himself facing especially harsh hazing from the Washington press corps, as the mainstream media – seeking to shed its “liberal” label and goaded by the right-wing media – tried to demonstrate that it would be tougher on a Democrat than any Republican.

The mainstream press hyped minor “scandals” about Clinton’s Whitewater real estate investment and Travel-gate, a flap about some routine firings at the White House travel office. Meanwhile, the Right’s rapidly growing media was spreading false stories implicating Clinton in the death of White House aide Vince Foster and other “mysterious deaths.”

Republicans in Congress did all they could to feed the press hysteria, holding hearings and demanding that special prosecutors be appointed. When the Clinton administration relented, the choice of prosecutors was handed over to right-wing Republican Appeals Court Judge David Sentelle, who consciously picked political enemies of Clinton to oversee zealous investigations. ...

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