Wednesday, January 14, 2009

No Fault Greed

No Fault Greed
Dysfunctional Political System, Press and Powerless Public Allow Wrong Doers to Escape

Madoff lives in a penthouse while CEOs who receive billions in untraceable federal bailout funds are not removed for their corrupt management and excessive bonuses. We have a press that acts as cheerleader - so attached to the permanent government that they defended even the weak charges by Weiner and Thompson against the candidate they are planning to run against. The very next day, the press blasted both their charges against Bloomberg (below). Limiting coverage to a cat fight that blames Bloomberg for the economic meltdown is another example of the dysfunctional way the press has covered the crisis. The collapse has more to do with Weiner’s associates in congress who went along with the Republicans in deregulating the banking system, and with Wall Street where Thompson invested the City’s funds. Not one press story has been written about the billions that flowed from investment bankers to lobbyists to congressmen, which became the cancer that killed this country's economic system.

Permanent Government Increases Control
In 2006 the Sheriff of Wall Street Eliot Spitzer, won 70% of the vote on a platform for cleaning up politics. Since then the public has seen their ability to control their own destiny evaporate due to a state with appointed leadership and a city government that went around their term limits vote. Barrett writes in the Village Voice this week that Kennedy is to Bloomberg what the City Council was to the mayor in his term limits battle - a parter in the spoils, yes, but, ultimately, little more than a pawn in his power grab.

The Press As Defender - Cheerleaders for the Permanent Government
The Post slams Assemblyman Richard Brodsky as a "suburban ham-and-egger" and questions his subpoena of the Yankees' Randy Levine *** A New Yankee Stadium, the Same Old Politics -Dwyer *** Weiner flip-flops on trimming pensions *** The Times praises Councilwoman Gale Brewer for her anti-bed bug crusade and calls on Bloomberg to get with the program *** Obama's economic stimulus plan could include enough money for the city to hire an additional 900 police officers *** Bloomberg Announces Job Initiatives as Some Lose Unemployment *** Stimulus Proposal Aims to Aid State, Local Governments *** The Morning View: NY Editorial Round-up

"This is a great city. You steal a loaf of bread and you go to Rikers Island, but if you steal $50 billion, you stay in your penthouse." - Voice of the People, Daily News

The People Lose Homes, Jobs and Bank Accounts . . . and More
Dozens of protesters crashed a foreclosure auction on Long Island yesterday, claiming that predatory lenders had caused them to lose their homes and no one came to their rescue *** Stimulus Proposal Aims to Aid State, Local Governments *** Bernanke urges clean-up of US banking... *** Banks in Need of Even More Bailout Money *** Reserve Fund sought federal bailout *** Pfizer cutting up to 800 scientist jobs *** Kenneth Cole forecasts a 4Q loss *** 2 Hospitals in Queens May Face Bankruptcy *** Daily News Editorial: Save the Catholic Schools *** Declining state support could lead to higher entrance fees at zoos around the state *** COURT OKS STATE'S AMAZON.TAX *** Hard Times Spark Surge In NY Lottery *** Either give us bailout or fare goes up - MTA *** A Chance To Rail At MTA - MTA board will answer to straphangers at a public hearing *** I-tune tax a good thing *** Cuomo will investigate whether Bernie Madoff ripped off New York-based charities *** Expect More Empty Storefronts *** State Sales Tax Revenues Down *** Hotels Feel the Pinch, Lay Off Housekeepers *** Virgin Megastore to Close

Wall Street Mess Citigroup Ready to Shrink Itself by a Third: Financial Giant to Shed Units, Curtail Trading to Return to Size Before Its Merger Spree; Deal to Split Off Smith Barney Sealed *** FIGHTS OFF $5 SHARE LEVEL... *** Citi, Morgan Stanley to merge brokerages *** In Michigan, Bank Lends Little of Its Bailout Funds *** Show Us Where the TARP Money Is Going *** Obama Threatens First Veto Over Bailout Funds *** AIG sells Canadian division for $308M *** NEW PUSH TO JAIL MADOFF *** Another bail hearing for Madoff After 1pm: Citigroup Breaks Up... "Financial Supermarket" Dead

City Hall Judge nixes NYC term-limits challenge *** Mike's gotta right to run, judge says *** Term Limit Suit Rejected (Update) *** RUDY BACKS MIKE *** Weiner flip-flops on trimming pensions *** Riders Give Subway System C Average So Far *** City Council vacancies draw 19 hopefuls *** Bloomberg Leads Yankees in Steals - Robbins *** CRANKY YANKEES TEAM RIPS POLS ON $TADIUM *** BUILD CHEAPER ARENA: MARTY *** CitiField is blighted *** RUSTY START FOR METS *** New stadium a money pit *** Markowitz Backpedaling on Atlantic Yards Project *** Firefighters are getting hot new digs in a series of extreme makeovers paid for by the communities they serve *** PUBLIC SHOWS HOW BRIGHT CONEY ISLAND'S FUTURE COULD BE. After 12 noon: Criticism of Yankee Stadium Deal Mounts *** Tony Avella tells off Christine Quinn

Albany City Judge To Be Next Chief *** Silver pal gets court nod from Gov. Paterson *** Lippman Is Pick for Chief Judge *** REBORN GOOD GUY DESERVES TO BE SEN. ANDY CUOMO *** Caroline's Seduction: Kennedy Promises to bring Obama to NY, Campaign For Governor... *** Bloomberg Maneuvers to Crown a Kennedy *** Kennedy Navigates New York Politics-Media Complex *** Upstate Democrats on Tuesday urged Paterson to consider replacing Clinton with either of two people whose names are not Kennedy, Cuomo or Israel *** Cuomo talked to Gov about Hil seat - sources *** Cuomo reins in health care giant on price fixing *** Cuomo Wooing the Guv for Hil's Hill Seat - WNBC *** Assembly Minority Leader Jim Tedisco said New York needs "an election, not a coronation" to pick Clinton's successor *** The TU agrees, but thinks it's unlikely to happen *** The New Senate Majority, mapped *** The Senate leadership list *** Monserrate Will Forgo Chairman's Pay *** Senate Dems Leadership Team. After 12 Noon: Poll Finds Support for Cuomo Over Kennedy as Senate Choice *** Senate Judiciary Committee To Discuss Chief Judge Selection Process *** Andrew Cuomo Is Still In It

Washington GO-EASY POLS SHILL FOR HILL: SENATE 'PROBERS' LOB SOFTBALLS IN LOVE-FEST *** Hillary Hearing Turns Into Group Hug *** Clinton Pledges Tough Diplomacy and a Fast Start *** Republicans Lugar and Vitter want her to make public all foreign donations to Bill's foundation, beyond what has already been promised *** Clinton’s confirmation hearing was evidence of the American potential for redemption and renewal *** Bill Clinton Will Continue Fundraising - The Hill *** Clinton's Opening Statement at Hearing *** Geithner Questioned on Tax Returns - for Treasury secretary job *** Tim Geithner! Why Are Rich People So Cheap? - Dowd *** Obama's Treasury pick in trouble over taxes, nanny *** SUN-TIMES: Journalists Being Shut Out by Obama... *** Obama Breaks Bread With Conservative Columnists At George Will's House *** A Cultural Void in a Changed America *** Which Way Will Obama Jump on Israel? *** Our Drug War Next Door *** Illinois Voters Will Remember Burris Fiasco - Chicago Tribune *** Inaugural to Cost Record $160M *** After 1PM Obama breaks Times tradition - Obama has yet to provide The Times with the sort of free-wheeling, pre-Inauguration interview the paper’s come to expect. And there's little expectation it will happen before Tuesday.

Media Meltdown Newspapers Become Blogs Become Newspapers Again.