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Pope Peabrain 1
Did anyone see the Penn State sorority picture? WTF? How could so many women be that stupid? Didn't a one say "wait a minute, this looks racist"? It really is appalling.
Posted by Pope Peabrain on December 6, 2012 at 8:37 AM · Report this
2
Happy to hear Schram got fired. About time.
Posted by gloomy gus on December 6, 2012 at 8:47 AM · Report this
Dr_Awesome 3
I think when you put the words "Penn State Sorority" all together in the same sentence you have to expect a pretty high level of stupidity to follow shortly after.
Posted by Dr_Awesome on December 6, 2012 at 8:52 AM · Report this
4
I think the condom's protection is probably "discreet," not "discrete." Doesn't the UW have any copyeditors?
Posted by rca on December 6, 2012 at 9:02 AM · Report this
care bear 5
Poor spidernaut :(
Posted by care bear on December 6, 2012 at 9:09 AM · Report this
6
Apple Jobs in the US:

"Many of the parts that go into the iPhone and iPad already are made in the U.S. This includes the display glass, which is made in Kentucky, Cook said.

Apple is working on a campus in Austin, Texas, Cook said. The company is expanding a data center in Maiden, North Carolina, he said."
Posted by Welcome South, Brother on December 6, 2012 at 9:21 AM · Report this
ScrawnyKayaker 7
Is this why UW switched to Sophos anti-virus?
Posted by ScrawnyKayaker on December 6, 2012 at 9:42 AM · Report this
Pope Peabrain 8
And Teabagger Senator Jim DeMint is leaving. All the Teabagger rats are leaving the sinking ship. Could it be they discovered this isn't the 1950's?
Posted by Pope Peabrain on December 6, 2012 at 9:45 AM · Report this
9
The Chaos Primer

We use the word "chaos" in the title as that is the way in which the financiers, those senior capital holders, increase their wealth in the usual manner, e.g., corner the chocolate market, then finance violence and turmoil in the major chocolate producing country, massive concentrated speculation in the oil/energy markets, fomenting wars, etc.

The Breakdown, Bitchez

I may have been the first commenter on the Web to cite the example of the comparison of obvious fire insurance fraud to their economic weapons of mass destruction: a criminal covertly purchases numerous insurance policies against his neighbor's home, then burns it to the ground, and collects many times over for his act of arson.

Many attacked those of us who presented this example, and yet recent history has proven us 100% correct --- dead center on the bull's eye of the target.

The prime example: John Paulson and his hedge fund, Goldman Sachs et al.

Paulson and Goldman Sachs met and devised a CDO, the Abacus CDO, made up of the crappiest loans possible (guaranteed to default), then they purchased a boatload of credit default swaps (CDS, called naked swaps when the purchaser has no immediate connection to the investment, as was the case with Paulson), and then made a fortune --- as in $3.4 billion for Paulson and billions for Goldman Sachs.

You see, for each CDS purchased at $1.4 million Paulson had purchased, the payout was $100 million, and he purchased oodles and oodles of them.

So AIG's Financial Products group sold $460 billion of those unregulated insurance policies , or CDSes, with no capital on hand to back up a potential payout of between $20 trillion to over $40 trillion (note, the currency amount was in the trillions --- hence the bailouts from the US Treasury along with over $23 trillion pumped out worldwide by the Federal Reserve Bank (we know it was over $23 trillion, but not how much over as there's never been a forensic audit of the Federal Reserve).

Magnetar Capital followed the same financial fraud process --- 96% of their deals went bad, yet they walked away with billions. Ever wonder how those private equity guys make so much money while destroying companies (and employment) all the time? Well, now you know!

Now, since the US Treasury is adamant that the naked swap continues to exist and thrive, this situation will occur again and again and again, only far worse, as debt has accumulated --- their debt that is, the stuff they keep shoveling onto the rest of us while screaming for austerity for the rest of us! (Not surprising, given that the Treasury is comprised of so many Goldman Sachs and JPMorgan Chase alumni.)

Torpedoes of Trust

I usually don't quote Charlie Sheen, but this is an apt phrase.

Around 2004, the Mortgage Bankers Association and the FBI announced an epidemic of mortgage fraud --- no, not the banksters, who were actually and actively behind it, but individuals who they claimed purchased houses which they couldn't afford and then flipped them or purchased houses they couldn't afford and lived there until evicted --- thus artificially setting the stage for the future disinformation campaign on the causes of that meltdown (see previous paragraph for that).

A bizarre bit of news that was, especially given that the FBI has been orchestrating all those phony "terrorist events" over the past decade; the most recent one written about in a most outstanding and succinct fashion by Arun Gupta.

The FBI typically goes into the poorest of neighborhoods and, using various snitches, etc., supplies some wayward and needy youth with money, and keeps pointing them towards some terrorist act or other, then makes their "newsworthy" bust for all to see.

Of course, all during this time their director has been Robert Mueller III. Raised in a wealthy family --- on the Truesdale side, connected to the Rockefeller Railroad Trust, William Truesdale was one of those involved with the Rockefeller South Improvement Company, which rigged transportation prices and either would ship only Rockefeller products, or give special preference and discounts to Rockefeller products, thus removing any and all competition from the market. (The organization still exists to this very day, only it's now officially a government agency, the Surface Transportation Board.)

[There was an attorney, George Truesdale, who was involved in defending the Rockefeller people responsible for blowing up the refineries of competitors, but it's unclear if he's related to the Mueller-Truesdale family.]

Robert Mueller III was first appointed to the DOJ at the time of Iran-Contra proceedings; later he was promoted during President George H.W. Bush time to be chief of DOJ's criminal division when the BCCI investigation began getting closer to the White House, but fortunately for them Mueller managed to quash it.

One week prior to 9/11, Robert Mueller III would become the director of the FBI; another auspiciously timed appointment.

A number of books have recently been published, all promoting Robert Mueller III as a pristine, stalwart shining knight of the justice system --- contrary to the reality of his background.

Should the powers-that-be happen to be positioning the FBI director for a 2016 presidential candidacy, the FBI has at least succeeded in removing one possible competitor, Gen. Petraeus, the former director of the CIA.

(Interesting to note that Mueller is the grandnephew of Richard Bissell, one of the three top CIA people President Kennedy fired before he was assassinated, and Mueller's wife is the granddaughter of Gen. Cabell, another of those top three!)

From 1960 to 1970, the richest families in America were the Rockefellers, Morgans, Mellons and du Ponts. David Rockefeller, in 1960, was estimated to be worth approximately $30 billion, yet today he is "officially" worth only $2 billion?

In 1970, the Mellon family was estimated to be the third richest family on the planet --- yet today we are supposed to believe they are also-rans in the wealth department?

Ditto for the du Ponts, Guggenheims, etc.

Simon Johnson, former IMF stooge, now a professor of "economics" at MIT, would have us believe that Rockefeller gave away all his money; this is called philanthropy, as in the case when the super-rich purchases a piece of art for $100,000, then values it at $1 million, and donates it to a museum, deducting $700,000 on their tax returns --- a cool profit of $600,000 --- philanthropy?

The Mellons were called philanthropists when they first established their foundations, yet these foundations took in more monies from tax exemptions than they ever paid out in donations (assuming those were real charitable donations and not more financial scams), but their foundations and trusts were ideal tax-exempt structures to hide wealth and ownership of other companies, more trusts, securities, and other investments, etc.

How many foundations and trusts does the Rockefeller family have? No one truly knows, but certainly over 35 in number.

Since 1970, it has been almost impossible to track the wealth of the uber-rich, with offshore trusts, unregistered trusts, endless holding companies obscuring ownership.

The American public is led to believe the richest Americans are named Gates and Buffett --- and while they certainly enjoy gargantuan wealth --- their fortunes are reported using public sources by Forbes magazine, and the super-rich primarily list their wealth in private places (and if you believe a Forbes or a Rockefeller, you are one gullible rube!).

The super-rich can afford the most extensive and subtle propaganda networks and conduits. Kevin Phillips is supposed to be a former conservative who writes critically of conservatives, yet an article of his in the ostensibly "leftist" or "progressive" Harper's magazine, blamed the economic meltdown on the CPI (Consumer Price Index) --- a patently absurd pronouncement!

Barry Lynn also has written confusing drivel for Harper's --- plus a number of murky, confusing books of drivel: Lynn is a fellow at the New America Foundation, financed by the oil people, that is, the Pew Charitable Trusts, and Rockefeller protégé, Peter G. Peterson.

Notice anything suspicious about the aforementioned?

The present consists of magical fiction and magical beliefs, where no one knows who owns the oil corporations, the banks, the pharmaceutical corporations, the weapons makers, etc., nor do we really know who the super-rich are today. We are told the Koch brothers' combined wealth makes them the richest at $80 billion, but estimating the wealth of those four richest in the decade from 1960 to 1970, each an estimated worth of between $30 billion to $50 billion back then, one might guestimate they are worth at least hundreds of billions today.

Gandalf has labored long and now must rest.

(This is sgt_doom's final rant.)

Sources and suggested reading:

Wealth, Power and the Crisis of Laissez Faire Capitalism, by Donald Gibson

The Fine Print, by David Cay Johnston

Extreme Money, by Satyajit Das

Retirement Heist, by Ellen Schultz

The Rich and the Super-Rich, by Ferdinand Lundberg

Wall Street Capitalism: the Theory of the Bondholding Class, by E. Ray Canterbery

More...
Posted by sgt_doom on December 6, 2012 at 11:26 AM · Report this
Will in Seattle 10
Which part of the UW, @4? The article didn't have that word.

Nanofibers ftw!

and freedom ..
Posted by Will in Seattle http://www.facebook.com/WillSeattle on December 6, 2012 at 11:46 AM · Report this
Some Old Nobodaddy Logged In 11
Word is, Ken Schram is going to spend his time at the Evergreen State College women's locker room, making sure no transgendered women are there.
Posted by Some Old Nobodaddy Logged In on December 6, 2012 at 12:24 PM · Report this
Catherwood 12
@4 Well, they're discrete, not continuous. A continuous condom is, however, an interesting idea.
Posted by Catherwood on December 6, 2012 at 3:39 PM · Report this
13
I would like to think Schram was let go due to the anti-trans rant, but I don't think our society is there yet.
Posted by Spike1382 on December 6, 2012 at 3:52 PM · Report this

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