Feb 212012
 

Letter from The U.K.

“RESPONSIBLE CAPITALISM”, “MORAL MARKETS”, and – Goldman Sachs Bonuses

By Michael Faulkner, TPJ MAGAZINE

Something rather curious has been happening recently. Leading politicians, Tory, Lib Dem and Labour, have started talking about capitalism.  It has happened before, but not for some time and then, referring to some particularly egregious example of corporate malfeasance, terms such as the “unacceptable face of capitalism” were used. Tory prime minister Edward Heath coined the phrase in 1973 to describe the activities of Lonrho chief executive Tiny Rowlands who had broken sanctions against the white racist Smith government of Rhodesia. Later, in 2004, Jim O’Donnell, managing director of BMW applied it to five directors of Phoenix Venture Holdings, the parent company of GM Rover, who had pocketed more than £16 million, even though the company had lost £89 million. The chairman and vice chairman were accused by Martin O’Neill, chairman of the Commons Trade and Industry Select Committee, of using “financial sleight of hand” to line their own pockets and of failing to exercise good corporate governance.

LEFT: Tory PM Edward Heath’s “unacceptable face of capitalism” has now become the normal face of capitalism. Maybe there never was any other.
Continue reading »

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 Posted by at 3:43 pm
Feb 212012
 

by Stephen Lendman, Senior Contributing Editor


Syria: Pro-government rally. They are usually discounted or omitted from mainstream reporting.
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For nearly a year, externally generated violence wracked Syria. Dirty Western hands planned and implemented it. Rogue regional despots were enlisted for support. Replacing an independent regime with a pro-Western one and isolating Iran are planned. Russia and China thwarted two Security Council resolutions designed to facilitate intervention.

On February 16, a non-binding Arab League General Assembly resolution passed with similar language. Saudi Arabia and other Gulf states backed it. Pressure’s building for escalated anti-Assad measures. Sooner or later expect intervention, perhaps war. At issue is isolating Iran, then targeting the Islamic Republic. Replicating 1953 in some form’s coming, perhaps more war that may involve Russia and China defending their interests.  Continue reading »

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 Posted by at 3:03 pm
Feb 212012
 

by Stephen Lendman, SENIOR CONTRIBUTING EDITOR
“Entrapment is…manufactured to manipulate fear and justify America’s global war on terrorism. Nearly always, Muslims are charged. It’s part of America’s war on Islam.”

Incarcerated Muslims. Minorities continue to constitute the overwhelming majority of prisoners.
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With around 2.4 million incarcerated, America has by far the world’s largest prison system. Two-thirds in it are Black or Latino.

Most held are non-violent. Over half are for drug related charges. Around 75% are Blacks or Latinos. On all charges, many are persecuted political prisoners.

In her book titled, “The New Jim Crow: Mass Incarceration in the Age of Colorblindness,” Michelle Alexander called today’s Jim Crow a modern-day elitist-designed racial caste system. Believing poor Blacks (and Latinos) are dangerous and economically superfluous, America’s gulag became an instrument of social control. According to Alexander:

“Any movement to end mass incarceration must deal with (it) as a racial caste system, not (a method) of crime control. We need an effective system of crime prevention and control in our communities, but that is not what the current system is. (It’s) better designed to create crime, and a perpetual class of people labeled criminals, rather than to eliminate crime or reduce the number of criminals.” Continue reading »

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 Posted by at 2:39 pm
Feb 212012
 
SPECIAL—

By SickofStupid

 If you’re one of the estimated 14 million American homeowners stuck with negative home equity or struggling to make your mortgage payments, you may have cheered the recent news of a national mortgage foreclosure settlement,thinking that help has finally arrived. And it has…kind of. Unfortunately, it probably won’t help you.

In an attempt to make voters believe it can be “tough” on Wall Street, the Obama administration is promoting the approximately $25 billion national mortgage foreclosure settlement between the attorneys general of 49 states and the nation’s five largest banks as a significant accomplishment. The settlement is purported to provide substantial help for homeowners, while holding banks accountable for their  past crimes related to the mortgage crisis and preventing similar illegal actions in future.  In reality, the settlement is nothing more than an election year publicity stunt, savings and opportunities for investors and a “get out of jail really, really cheap” card for Wells Fargo, Citigroup, Ally Financial/GMAC, JP Morgan Chase and Bank of America [BofA]. Continue reading »

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 Posted by at 2:31 pm
Feb 212012
 

First in a series prepared by Eric Schechter
“The world is changing quickly, and we need to help steer it according to our shared values — our vision of what might be.”

ABOUT THE AUTHOR
“Imagine no possessions.” I’m just like John Lennon, except without the talent.

I’m single and heterosexual, or maybe asexual. I might consider taking a partner if I found a woman who is perfect for me, if such a thing is possible. Women who want to know more about that can look at either of

http://www.okcupid.com/profile/HeartOnTheLeft

http://www.pof.com/viewprofile.aspx?profile_id=7993692

I recently retired from teaching advanced mathematics. At the age of 55 I finally saw what most people know at age 10: that the most important questions in our lives are not mathematical. Even in economics, the math is just window-dressing and quantification; the most basic ideas contain virtually no math. And the most important question of all is, how can we all learn to live in peace together? No math in that at all. Continue reading »

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 Posted by at 12:30 pm
Feb 212012
 

By Alejandro López, WSWS.ORG, a socialist organization
Thank you, WSWS.ORG


A casualty of the Valencia clashes.

Hundreds of thousands of workers demonstrated in 57 Spanish cities on Sunday against the latest labour reform passed by the right wing Popular Party (PP).

The demonstrations were called by the main trade unions, Comisiones Obreras (Workers Commissions—CC.OO) and Unión General de Trabajadores (General Union of Workers—UGT).

In Madrid an estimated 110,000 protestors took the streets according to El País, while the unions put the figure at 500,000. In Barcelona the same newspaper estimated 100,000 protestors and the unions 400,000. Demonstrations in Saragossa, Gijón, Seville, Gerona, Murcia, León, Toledo, Pamplona and Tarragona were sizable. Continue reading »

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 Posted by at 12:09 pm
Feb 212012
 

Tactics & Strategies—
The Black Panther Party

Militancy made BPP big, not community activities


Veteran activist Joost Van Steenis questions the reformist path for Occupy.  Is he right? Do reforms have a legitimate role in the Occupy protest movement?

By Joost Van Steenis

The fast rise and decline of the Black Panther movement. After the murder of Malcolm X in 1965 the BPP was founded in Oakland and reached its peak in 1969 with 10.000 members and a newspaper circulation of 250.000. The first action point was the militant defence of blacks by wearing black clothing and showing loaded guns. The State Assembly Chamber in Sacramento was invaded  in 1967 by armed members when the Party was still fairly small. The Party had a list of ten demands to promote the situation of blacks in the USA as decent housing and education, freedom for black prisoners, against police brutality, etc.

Only after the decline the Party started in 1971 with community activities and later got involved in electoral policies. Reform tactics and community activities did not stop the decline and in 1980 the party had virtually disappeared. Continue reading »

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 Posted by at 11:56 am
Feb 212012
 

by Stephen Lendman

Israeli Minister of Defense Ehud Barak, left, poses for a photo Nov. 9, 2009, with Secretary of Defense Robert M. Gates at the Pentagon in Arlington, Va., before sitting down for talks on regional security issues. Barak was supposedly a target for assassination by the Iranians. Can we get more inflammatory? (DoD photo by R. D. Ward/Released)

For months, Iran faced baseless accusations. They include:

the spurious US Saudi ambassador assassination plot;
charges about developing nuclear weapons;
being the “world’s leading state sponsor of terror,” according to AIPAC;
targeting Israeli officials in India, Georgia, and Thailand; and
planning Israeli Defense Minister Ehud Barak’s assassination, according to The Israel Project citing Kuwait’s Al Jarida newspaper.

All of the above don’t pass the smell test. Charges are baseless on their face. Yet major media scoundrels headline them for days. In the process, they heighten tensions for belligerent intervention. Continue reading »

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 Posted by at 11:36 am