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Archive for November, 2011

Occupy LA protesters braced for eviction

LA mayor Antonio Villaraigosa tells Occupy protesters to take down tents or face forcible removal from land outside city hall.

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Before he died, Joaquin Luna put on his best suit, white shirt and black skinny tie, the same outfit he wore every Sunday without fail to the Pan de Vida church in his home town of Mission, Texas. As his brother put it: “He dressed himself to go to God.”

Then he shot himself in the shower room, leaving behind a note that explained why he ended such a promising life. He spoke of his desperation at what he felt to be the wall blocking out his future and preventing him from attaining his dreams.

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NEW YORK — A US judge Monday rejected a $285 million settlement Citigroup made with US regulators over its marketing of mortgage securities that quickly went sour, saying the bank was getting off lightly.

New York federal court judge Jed Rakoff scolded the Securities and Exchange Commission for agreeing to a deal that he called inadequate and not in the public interest.

He also labelled the huge bank a “recidivist” that viewed such fines as “pocket change” and simply “a cost of doing business.”

Matt Taibbi of Rolling Stone discussed Monday on Countdown with Keith Olbermann the “unusual” decision of a judge to reject settlement Citigroup made with U.S. regulators over its marketing of mortgage securities.

New York federal court judge Jed Rakoff scolded the Securities and Exchange Commission (SEC) for agreeing to a deal that he called inadequate and not in the public interest.

“He came out basically and said that the SEC and Wall Street have been in a wink-wink, nudge-nudge arrangement for years,” Taibbi explained.

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Click the link below for Keith Olbermann’s interview on this issue with Matt Taibbi.

http://current.com/bc/1299852505001?linkBaseURL=http%3A%2F%2Fcurrent.com%2Fshows%2Fcountdown%2Fvideos%2Fmatt-taibbi-on-judge-rakoff%25e2%2580%2599s-decision-to-reject-the-sec%25e2%2580%2599s-latest-settlement-with-citigroup

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Organizers working on a campaign to recall Wisconsin Gov. Scott Walker and Lt. Gov. Rebecca Kleefisch are more than half-way to their goal, they announced Monday.

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You won’t see anything like this on the US corporate news media. Australian economist Steve Keen calls for debt write downs to help save the economy. During this BBC interview, Keen suggests that the current generation coming into adulthood needs to resort to violence in order to bring about real change. See the video below for the full interview.

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It the Euro Zone About to Collapse?

EVEN as the euro zone hurtles towards a crash, most people are assuming that, in the end, European leaders will do whatever it takes to save the single currency. That is because the consequences of the euro’s destruction are so catastrophic that no sensible policymaker could stand by and let it happen.

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