The American Trial Lawyers Association

A British diplomat has come forward and made it clear that the British government has a paper trail that proves that both the US and the British government were fully aware that Saddam Hussein posed no threat to the world. Carne Ross, who was a first secretary at the United Nations in New York for the Foreign Office until 2004, told MPs: "A lot of facts about the run-up to this war have yet to come to light which should come to light and which the public deserves to know." He told the inquiry that the intelligence made it "very clear" that Saddam Hussein did not pose a significant threat to the UK, as was being claimed at the time by ministers, and that tougher enforcement of sanctions could have brought his regime down. Ross believes that his revelations could call the very legality of the invasion into question. When prodded about why he didn't come out sooner, or try harder to prevent the invasion, Ross said that he was aware that speaking out too often or too openly - even in internal debates - about his concerns about the government's policy direction would damage his career by winning him a reputation as a "naive troublemaker".


In environmental news today, a poll released recently by Gallup says that, while a majority of Americans still believe the seriousness of global warming is “either correctly portrayed in the news or underestimated,” an all-time high of 41 percent of those polled say it is exaggerated. One of the main reasons for this drop in concern can be attributed to the success of climate change deniers in disseminating their message. While they are no more credible now than they were a few years ago, the difference today is that they have more friendly media outlets that are willing to broadcast their message. Since Gallup began tracking domestic sentiment on global warming in 1997, American views that climate change was being underestimated were at their highest in 2001 and 2006 (the year An Inconvenient Truth came out). The poll also saw declines from last year in the number of people who believe the effects of global warming are occurring now, and in the number that believe global warming will pose a “serious threat” in their lifetimes. By age group, the biggest jump (13 percent) from last March in those who now believe global warming claims are exaggerated was in the 65-and-older demographic. While other age groups also saw an increase, the 18-29 segment had no change at all in the number of those who believe claims are exaggerated.


And finally, it just wouldn't be a news day if there weren't something to say about AIG. Admittedly, I'm getting pretty sick of these stories, and would prefer to no longer write about them. But people seem to enjoy it, so I'll play along one last time. But rest assured, after today, I'm done covering anything to do with AIG, unless aliens come down, beam up their building, and probe each and every executive. Now THAT would be a news story. Despite the protestations of a few congressmen, the House voted overwhelmingly to pass bonus tax legislation Thursday afternoon. Roll Call reports the vote was 328-93 to impose a 90 percent tax on employee bonuses at companies that received federal bailout funds, which includes AIG. CNN notes that the measure, which now heads to the Senate for consideration, would tax individuals on any bonuses received in 2009 from companies getting $5 billion or more in money from the Troubled Asset Relief Program. Those with incomes more than $250,000 would see their bonuses taxed at the 90 percent rate.

Labels: AIG, Bailout, Bonuses, Britain, Climate Change, Environment, Farron Cousins, Global Warming, Intelligence, Iraq War, Ron Paul, Saddam Hussein

In case you've been wondering where all of that bank bailout money has gone, AIG finally decided to disclose their activities. Rather than investing in new hires, or providing affordable loans to new borrowers, the company instead shipped billions of taxpayer dollars to foreign banks. The documents AIG released account for some of the more than $180 billion in aid that AIG has received, and they detailed for the first time which financial firms are benefitting from the federal handout.
In all, AIG disclosed payments of $105.3 billion between September and December 2008, and some of the biggest recipients were European banks. Political pressure is now building on AIG, as House Speaker Nancy Pelosi on Sunday called on AIG executives to “renounce” their bonuses and refuse retention pay, and said that House Financial Services Chairman Barney Frank would “examine options that are legally available to recover taxpayer funds of companies that abuse the privilege of taxpayer assistance.” Edward Liddy, the government-installed CEO of AIG, has been called to testify before Frank's committee on Wednesday.


In other financial news, a new report has been released showing that those who have had the loudest voices in denouncing the bailout and stimulus packages – mostly republicans – are also the ones that have been hit the hardest by the recession. According to the Center for Responsible Lending, who recently issued the new report, nine of the top ten districts with the most foreclosures are Republican and most likely to receive the bulk of any homeowner bailout, and thus, at least according to one On Air editor of a major cable network, fit the definition of "losers". I'm sure we all recall the protests from rank and file members of the GOP, where they would hold signs saying things like “your mortgage is not my problem,” but now it looks like it might be. Only one of these top ten districts leans democratic, which is a location in Michigan. The ones held onto by Republicans include districts in Oklahoma, Florida, Arizona, Delaware, and Georgia. According to Republican Rick Santelli, all of these republicans are irresponsible losers. Those are his words, not mine. You see, not long ago, Santelli appeared on cable news and said that any homeowner bailout would just go to irresponsible people who were losers. Of course, this was probably before he realized that those same losers are the ones who make up his base.


And finally today, according to a new study, a predicted slowdown in Atlantic Ocean currents will cause sea levels along the US northeast coast to rise twice as fast as the global average, exposing New York and other big cities to violent and frequent storm surges. For example, Manhattan's Wall Street, which is barely a three feet above sea level, will find itself underwater more often as the 21st century unfolds. The UN's Intergovernmental Panel on Climate Change concluded in early 2007 that expanding ocean water driven by climate change will drive up sea levels, on average, anywhere from seven to 23 inches by 2100, depending on how successful we are at slashing greenhouse gas emissions. This rising water mark will erase several island nations from the map, and is likely to cause devastation in Asian and African deltas home to tens of millions of people. The weakened currents account for nearly half of a predicted sea rise -- from thermal expansion alone. Rapid sea level increases would put cities such as New York, Boston, Baltimore and Washington D.C. at significantly greater risk of coastal hazards such as hurricanes and intense winter storm surges. Of course, given the fact that a large portion of American citizens still don't believe that global warming is real, it would probably take flooding of this nature just to convince them.

Labels: AIG, Bailout, Bank, Climate Change, Farron Cousins, Foreclosure, Fraud, Global Warming, Manhattan, Protest, Republican, Rick Santelli, Wall Street

The battle for the soul of the GOP is heating up, and so far it looks like Rush Limbaugh is coming out ahead. Responding to criticism by recently-elected RNC chairman Michael Steele, Limbaugh tore into his party's leader, contending that Steele is actually "not the head of the Republican Party," cautioning that the chairman is off to a "shaky start." This came after Steele had responded to Limbaugh's speech at the CPAC convention this past weekend, where Steele said that Limbaugh is just an entertainer, and that, quote, “Yes, it is incendiary. Yes, it is ugly.” Well, Steele showed America how weak he really is by apologizing to Rush, and is now claiming that he has a tremendous amount of respect for the pill-popping radio host. The fact that Steele – the alleged leader of the Republican Party right now – had to apologize to a radio host, who has a lower approval rating than George W. Bush, shows us who is really in charge of the RNC, and it isn't Steele. Limbaugh has cast himself as the face, the voice, and the ruler of the Republican Party, and he should be treated as such. This means that everything he says and everything he does should be put under a spotlight and scrutinized for all its worth. Let's allow everyone in America to see how insane and inhuman their leader really is. After all, its only common sense that we would want Limbaugh to fail.


In other news, a memo from the Bush Administration has recently been uncovered, that sheds new light on how the administration tiptoed around laws and treaties to justify presidential power to transfer prisoners captured in the war on terror to countries where they would be tortured. The memo, written by Jay Bybee, then assistant attorney general in the Justice Department's Office of Legal Counsel, said the president has an unfettered right to transfer prisoners captured in the war on terror to governments around the world without regard for whether they would be tortured there. This is just one of nine legal memos made public this week that further detail the administration's expansive definition of presidential authority in a time of war. Most of the memos gave legal opinions to the White House, but the rendition memo was specifically written for the Pentagon. The memo went further, saying that prisoners held outside the United States were not protected by U.S. laws against torture nor against a separate international treaty banning torture. It also said that a 1998 law making it U.S. policy not to hand over prisoners to country where they may be tortured was invalid because it unconstitutionally interferes with presidential powers. Honestly, if this isn't enough evidence to start some prosecutions, then nothing will ever be enough.


And finally today, there's no longer any need to worry about the money that the bailed out Wall Street banks are blowing on parties and weekend retreats because, according to them, they aren't using bailout money for those things. Unfortunately, they still aren't able to account for what they did with all that money. According to banks like Wells Fargo and BB&T, they just lumped those bailout billions into their bank account, so both their profits and the bailout became one large cash pool. When news broke that Wells Fargo, recipient of $25 billion in bailout money, was planning a lavish Las Vegas retreat for its top employees, lawmakers grew understandably angry. The bank canceled the trip, but took out expensive full-page newspaper advertisements defending such trips. They're claiming that they had enough money to cover the retreat, and the bailout didn't effect their decision to have a nice quiet getaway. This begs the obvious question – If the company had enough money to pay for such lavish luxuries, why should the taxpayers bail them out? The answer, quite obviously, is that we shouldn't have.

Labels: Bailout, Bank, Bank of America, Farron Cousins, Fight, George W Bush, GOP, Jay Bybee, Leadership, Memo, Michael Steele, Party, rush limbaugh, The Daily Left, Torture, Wells Fargo

It's difficult to conclude which side looked the most ridiculous last week during the congressional hearings on bank bailouts. On one side of the room were silk-stocking bank CEOs who had to admit that they had not really used their bailout money the way they promised they would. On the other side of the room were U.S. congressmen who looked foolish and naïve when they discovered that those bank CEOs had hustled the system from the first day they received their corporate welfare. Some congressmen looked shocked as they listened to all the ways those Wall Street bankers had lied to America in order to get possession of taxpayer bailout money.


A couple of congressmen looked particularly brain dead when they suggested that, golly, maybe they should have put some things down in writing back in October when congress and our last president handed over $350 billion to a room full of bank CEO failures. Ya think?


Back then, Citigroup, Bank of America, and every other mismanaged bank that had enough money to fly their corporate jet to D.C. was making promises they knew they would never keep. Frankly, any rational thinking congressman should have known those banker promises were meaningless. It was a group that looked too lean, hungry and desperate.


So just how badly have we been hustled? Here are a few parts of the story: The ink had barely dried on Bank of America's first $25 billion bailout check before they used $7 billion of that bailout money to buy a bank in China. That Chinese bank has no connections to the U.S. They don't employ U.S. citizens. They don't lend money to American taxpayers.


Another place Bank of America spent more than $10 million was on K-Street lobbyists who were hired to help stop union initiatives aimed at giving workers the right to organize. Put another way, Bank of America took taxpayer money so they could lobby against a huge number of taxpayers who gave them that money.


You would think Bank of America is on a mission to advertise just how unsophisticated and foolish our Congress and our last president was to actually accept the promises of a room full of desperate bankers with no strings attached.


Bank of America and most of the other welfare recipient bankers have gone as far as raising interest rates on existing credit cards, along with cutting lines of credit on some of their most reliable customers. They have almost eliminated small business lending entirely. Their promise to end the foreclosure mania was just as meaningless as their promise to preserve jobs within their industry. In fact, Bank of America, after spending most of their bailout money, now tells us they intend to lay off 35,000 of their workers.


There are no surprises here. Mark Twain gave us some accurate insight into the character of an entity like Bank of America. He said, “a banker is a fellow who lends us an umbrella when the sun is shining and wants it back the minute it begins to rain.” Is that really the kind of entity we should lend money to with no ground rules?

Labels: air america radio, Bailout, Bank of America, Drunk, Economy, GoLeft.tv, GoLeftTV, Mike Papantonio, pap attack, Recession, ring of fire, Super Bowl Party, Union Busting

Officials from the Bush White House are no longer advising Karl Rove to claim that he is protected from testifying by executive privilege. In addition, Rove's attorney told reporters at Raw Story that the former advisor will not be invoking the Fifth Amendment to protect himself from testifying. Rove was subpoenaed in 2007 to testify before Congress about his role in the Don Siegelman prosecution, as well as the politicization of the Justice Department. He was then subpoenaed in 2008 for this same testimony. Both times he refused to show. He did however offer to testify, as long as he didn't have to be under oath and the hearings were not public, which Congress refused. He was recently subpoenaed in January of this year, and then again this month. Though it remains unclear what form Rove's cooperation with Congress and Justice Department investigators might take, it seems increasingly likely that Rove will testify to Congress in some way.


In other news, it looks like the United States' war on terror didn't just take away the rights of American citizens, but according to international legal experts, it stripped away the rights of people across the globe. According to Mary Robinson, former High Commissioner for Human Rights at the UN, citizens across the globe have fewer rights today than they did when terrorists attacked on 9/11, largely due to the fact that the US responded inappropriately to the attacks. The harsh U.S. detentions and interrogations in Iraq, Afghanistan, and Guantanamo Bay gave a dangerous signal to other countries that quickly followed suit. A new report found that many undemocratic states have referred to U.S. counter-terrorism practices to justify their own abuses, creating a serious situation that the UN must now deal with. The UN Security Council has already begun investigating prisoner abuse in places like Canada, Mexico, Saudi Arabia, Russia, China, and Germany.


In economic news today, a new report shows that all of those Wall Street banks who begged and pleaded for a bailout so they could lend more money, have actually not been lending anymore money. In fact, since they received their bailout funds, they've actually been lending less money. The Treasury Department said the banks reduced their mortgage and business loans by a median of 1 percent each, while credit card lending rose by a median of 2 percent. The report also said that banks reduced new commercial real estate loans by 19 percent. But don't think that these banks will be reprimanded for not upholding their end of the deal. The Treasury Department has already written off the decrease in lending by saying that consumer demand for loans has decreased, so it really isn't the banks' fault. Basically, what this means is that the banks took our tax dollars, and did nothing to help the economy. They aren't loaning people money, they laid off tens of thousands of employees, and they aren't producing any tangible goods for Americans. They used the money to shore up their investments and pay dividends to stockholders. If you ask me, all of these banks are guilty of stealing money from the government, and the CEOs of these institutions should be sitting in prison.


In other news, a new USA Today report shows that cyber attacks against government computer systems increased by 40% last year. In total, there were 5,488 tracked incidents of unauthorized access to US government computers, as well as installations of hostile programs in 2008. However, rather than taking this as a serious threat, one official from the Department of Homeland Security said that this doesn't necessarily mean there was an increase in attacks, and it could mean that their detection software is catching more intruders. However, if that is the case, that means that 40% of the hacks from 2007 were never detected. President Obama announced last week that his administration will be conducting a review of US cyber security to protect the government's information technology systems from security and economic threats.


And finally today, horny teenagers are getting a new role model to tell them to keep it in their pants – Bristol Palin. While speaking about the birth of her son Tripp to Fox News, Bristol said she now hoped to become an advocate against teen pregnancy. The little Palin went on to say that everyone should be abstinent, but that that idea isn't realistic at all. She refused to give her views on contraception, which makes her an astounding hypocrite. She says that abstinence isn't going to work, but it's the only thing that will work. I'm not sure I follow her logic here. The bottom line is this – studies have been conducted throughout this century showing that abstinence-only education programs result in higher rates of teen pregnancy, than education programs that teach the use of contraceptives. That is a fact. Teenagers shouldn't be listening to a girl who couldn't figure that out on her own.



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Labels: Bailout, Barack Obama, Bristol Palin, Economy, Farron Cousins, Hacker, Karl Rove, Lending, Mortgage Crisis, Political Briefs, Recession, Sarah Palin, Sex, Teenager, Trigg, Underage