April Fool’s Anniversary : Death of Death Rock Innovator

Rozz Williams on a Christian Death poster (Image: Wikipedia)

April Fool’s Day is the date of death of one Rozz Williams, born Roger Alan Painter, regarded by many as the inventor of death rock. In his most (in)famous band/incarnation, “Christian Death”, Rozz pioneered the art form that would become home to Marilyn Manson (aka Brian Warner). Both Williams and Manson continue to inspire many who believe that conformity is NOT the sincerest form of democracy. If you are interested in the roots of death rock/goth, check out “Only Theatre Of Pain“, “Catastrophe Ballet” or “Ashes” by the innovative and provocative Christian Death.

Williams, who battled manic depression and drug addiction, was greatly influenced by surrealism and dadaism. In “The Fleeing Somnambulist” – the closing track on the very influential “Catastrophe Ballet” recording – a gentle lullaby is trampled by marching jackboots. Elsewhere in the piece, Williams intones, “There was a man in a huge, white goats head sweeping through the German landscapes…”

Williams’ lyrics are infused with anti-fascist and anti-racist sentiment but perhaps the best characterization of his core message comes from the man himself. In 1994, he told an interviewer: “But as far as a message, just trying to have people keep their minds open. You know, THINK! It seems like a lot of people in the world today don’t spend much time doing that.” {1} Williams died ten years ago today — on April 1, 1998. His death was ruled a suicide.

Thomas Good / Next Left Notes / April 1, 2008 / The Rag Blog

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Rev. Wright in a Different Light

I have watched Rev. Wright in utter awe.
By William A. Von Hoene Jr. / Chicago Tribune / March 26, 2008

During the last two weeks, excerpts from sermons of the Rev. Jeremiah Wright Jr., pastor for more than 35 years at Trinity United Church of Christ on Chicago’s South Side, have flooded the airwaves and dominated our discourse about the presidential campaign and race. Wright has been depicted as a racial extremist, or just a plain racist. A number of political figures and news commentators have attempted to use Sen. Barack Obama‘s association with him to call into question Obama’s judgment and the sincerity of his commitment to unity.

I have been a member of Trinity, a church with an almost entirely African-American congregation, for more than 25 years. I am, however, a white male. From a decidedly different perspective than most Trinitarians, I have heard Wright preach about racial inequality many times, in unvarnished and passionate terms.

In Obama’s recent speech in Philadelphia on racial issues confronting our nation, the senator eloquently observed that Rev. Wright’s sermons reflect the difficult experiences and frustrations of a generation.

It is important that we understand the dynamic Obama spoke about.

It also is important that we not let media coverage and political gamesmanship isolate selected remarks by Wright to the exclusion of anything else that might define him more accurately and completely.

I find it very troubling that we have distilled Wright’s 35-year ministry to a few phrases; no context whatsoever has been offered or explored.

I do have a bit of personal context. About 26 years ago, I became engaged to my wife, an African-American. She was at that time and remains a member of Trinity. Somewhere between the ring and the altar, my wife had second thoughts and broke off the engagement. Her decision was grounded in race: So committed to black causes, the daughter of parents subjected to unthinkable prejudice over the years, an “up-and-coming” leader in the young black community, how could she marry a white man?

Rev. Wright, whom I had met only in passing at the time and who was equally if not more outspoken about “black” issues than he is today, somehow found out about my wife’s decision. He called and asked her to “drop everything” and meet with him at Trinity. He spent four hours explaining his reaction to her decision. Racial divisions were unacceptable, he said, no matter how great or prolonged the pain that caused them. God would not want us to assess or make decisions about people based on race. The world could make progress on issues of race only if people were prepared to break down barriers that were much easier to let stand.

Rev. Wright was pretty persuasive; he presided over our wedding a few months later. In the years since, I have watched in utter awe as Wright has overseen and constructed a support system for thousands in need on the South Side that is far more impressive and effective than any governmental program possibly could approach. And never in my life have I been welcomed more warmly and sincerely than at Trinity. Never.

I hope that as a nation, we take advantage of the opportunity the recent focus on Rev. Wright presents—to advance our dialogue on race in a meaningful and unprecedented way. To do so, however, we need to appreciate that passion born of difficulty does not always manifest itself in the kind of words with which we are most comfortable. We also need to recognize that the basic goodness of people like Jeremiah Wright is not always packaged conventionally.

The problems of race confronting us are immense. But if we sensationalize isolated words for political advantage, casting aside the depth of feeling, circumstances and context which inform them, those problems not only will remain immense, they will be insoluble.

William A. Von Hoene Jr. of Chicago is a member of Trinity United Church of Christ.

Copyright © 2008, Chicago Tribune

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From Carl Davidson / The Rag Blog

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Peace in Palestine

Graphic by Brazilian cartoonist Carlos Latuff.
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An Israel-Palestine Peace Plan – A Rag Blog Discussion

David Hamilton posted a draft of a proposed Israel-Palestine Peace Plan on The Rag Blog, March 29, 2008, as a means of initiating a positive dialogue on the subject. The discussion has been joined by Rag bloggers Steve Russell, Paul Spencer, Alan Pogue and Jim Retherford. The discussion has been last updated on April 3 with a comment from Mishal Al-Johar of the Palestine Solidarity Committee.

For the entire thread as it currently exists, go here.

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Politics Schmalitics : Play Ball!

Abner Doubleday: “Baseball? What’s that?”

America and Baseball
By George Will / March 30, 2008

WASHINGTON — Washington’s first major league baseball team, the Senators, was owned by Clark Griffith, who, in the democratic, give-the-people-what-they-want spirit of the city, said: “Fans like home runs — and we have assembled a pitching staff to please our fans.” Today, Washington’s third team, the Nationals, opens a new ballpark near the Capitol, an appropriate setting for the national pastime. Remember, Lincoln’s last words, whispered to Maj. Gen. Abner Doubleday, were: “Don’t … let … baseball … die.”

Or so said a solemn Bill Stern to a radio audience of millions. Stern, who died in 1971, was a famous sportscaster whose commitment to fact was episodic. A wit responded that if Lincoln had said that to Doubleday (who was not there), Doubleday might have replied, “What’s baseball?”

Baseball’s creation myth is that young Doubleday invented the sport one summer day in 1839 in farmer Phinney’s pasture near Cooperstown. Actually, Doubleday spent that summer at West Point. The only thing he ever started, sort of, was the Civil War: He was an artillery captain at Fort Sumter. When he died in 1893, his New York Times obituary did not mention baseball.

Today, baseball arrives in the nick of time to serve an urgent national need. It gives Americans something to think about other than superdelegates. Think instead about:

1. Who are the four players with 10 or more letters in their last names who hit 40 home runs in a season?
2. Who are the 11 players who have four or fewer letters in their last names and hit 40 home runs in a season?
3. Which two players who hit back-to-back home runs have the most combined letters in their last names?

For you who wasted the winter by not studying such stuff, the answers are below. The rest of you probably are SABRmetricians. Tim Kurkjian of ESPN (do you know that more than 10 American children have been named Espn?) recalls a convention of the Society for American Baseball Research:

“‘Who from SABR might know where I can find the all-time list of pinch-hit, extra-inning grand slams?’ I asked the very first man I saw at the convention. The man smiled and — I am not making this up — pulled the list from his breast pocket. ‘I have it right here,’ he said.”

Would that today’s subprime wizards of Wall Street had comparable mastery of the numbers important to their business. What Edmund Burke said of the study of law — that it sharpens the mind by narrowing it — might be true of baseball, too, but baseball people at least know what they are supposed to know. Long after he retired, Ted Williams ran into a former pitcher who said he once struck out Williams. “Slider low and away,” said Williams. “Old men forget,” said Shakespeare’s Henry V at Agincourt. Old baseball men don’t.

Washington was the setting for “Damn Yankees,” the most stirring drama since Shakespeare, who didn’t do musicals. Opening in 1955, it concerned a Senators’ fan who sold his soul to the devil in exchange for one terrific season as a Senators’ outfielder. This is supposedly a Faustian bargain, but such bargains are presumed to be bad. What is a mere soul when weighed against such a season?

Of course, there might be a gender difference here. As the philosopher Dave Barry has noted, “If a woman has to choose between catching a fly ball and saving an infant’s life, she will choose to save the infant’s life without even considering if there are men on base.”

Bill Veeck, who did more for America in one night than most of us do in a lifetime (the night in September 1937 he planted the ivy along Wrigley Field’s outfield walls), said that the great thing about baseball — aside from the fact that you do not need to be 7 feet wide or 7 feet tall in order to play it — is: Three strikes and you’re out, and the best lawyer can’t help you. Baseball, which provides satisfying finality and then does it again the next day, is a severe meritocracy that illustrates the axiom that there is very little difference between men but that difference makes a big difference.

Even if you are not big. Asked in 1971 how it felt to be the shortest player in the major leagues, the Royals’ Freddie Patek, a 5-foot-4 infielder, said, “A heckuva lot better than being the shortest player in the minor leagues.”

Copyright 2008, Washington Post Writers GroupPage

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Whoa doggies!


Gas prices in Death Valley this week.

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Thanks to Jim Baldauf / The Rag Blog

Some thought the above picture, posted earlier today (April 1, 2008), was an April Fools joke. Well, if it is, the joke’s on all of us. Below, from a different source, is another station, this one at Furnace Creek in Death Valley. Clearly a cut rate operation.

Thorne Dreyer / The Rag Blog

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Howard Zinn on Election Madness

Howard Zinn

Elections matter, when backed by the power of the people
By Howard Zinn

[This article first appeared in the March, 2008, issue of The Progressive. Must say, Zinn’s perspective is worth paying attention to. We do go a bit bananas. — .td / The Rag Blog]

There’s a man in Florida who has been writing to me for years (ten pages, handwritten) though I’ve never met him. He tells me the kinds of jobs he has held—security guard, repairman, etc. He has worked all kinds of shifts, night and day, to barely keep his family going. His letters to me have always been angry, railing against our capitalist system for its failure to assure “life, liberty, the pursuit of happiness” for working people.

Just today, a letter came. To my relief it was not handwritten because he is now using e-mail:

Well, I’m writing to you today because there is a wretched situation in this country that I cannot abide and must say something about. I am so enraged about this mortgage crisis. That the majority of Americans must live their lives in perpetual debt, and so many are sinking beneath the load, has me so steamed. Damn, that makes me so mad, I can’t tell you. . . . I did a security guard job today that involved watching over a house that had been foreclosed on and was up for auction.

They held an open house, and I was there to watch over the place during this event. There were three of the guards doing the same thing in three other homes in this same community. I was sitting there during the quiet moments and wondering about who those people were who had been evicted and where they were now.

On the same day I received this letter, there was a front-page story in the Boston Globe, with the headline “Thousands in Mass. Foreclosed on in ’07.”

The subhead was “7,563 homes were seized, nearly 3 times the ’06 rate.”

A few nights before, CBS television reported that 750,000 people with disabilities have been waiting for years for their Social Security benefits because the system is underfunded and there are not enough personnel to handle all the requests, even desperate ones.

Stories like these may be reported in the media, but they are gone in a flash. What’s not gone, what occupies the press day after day, impossible to ignore, is the election frenzy.

This seizes the country every four years because we have all been brought up to believe that voting is crucial in determining our destiny, that the most important act a citizen can engage in is to go to the polls and choose one of the two mediocrities who have already been chosen for us. It is a multiple choice test so narrow, so specious, that no self-respecting teacher would give it to students.

And sad to say, the Presidential contest has mesmerized liberals and radicals alike. We are all vulnerable.

Is it possible to get together with friends these days and avoid the subject of the Presidential elections?

The very people who should know better, having criticized the hold of the media on the national mind, find themselves transfixed by the press, glued to the television set, as the candidates preen and smile and bring forth a shower of clichés with a solemnity appropriate for epic poetry.

Even in the so-called left periodicals, we must admit there is an exorbitant amount of attention given to minutely examining the major candidates. An occasional bone is thrown to the minor candidates, though everyone knows our marvelous democratic political system won’t allow them in.

No, I’m not taking some ultra-left position that elections are totally insignificant, and that we should refuse to vote to preserve our moral purity. Yes, there are candidates who are somewhat better than others, and at certain times of national crisis (the Thirties, for instance, or right now) where even a slight difference between the two parties may be a matter of life and death.

I’m talking about a sense of proportion that gets lost in the election madness. Would I support one candidate against another? Yes, for two minutes—the amount of time it takes to pull the lever down in the voting booth.

But before and after those two minutes, our time, our energy, should be spent in educating, agitating, organizing our fellow citizens in the workplace, in the neighborhood, in the schools. Our objective should be to build, painstakingly, patiently but energetically, a movement that, when it reaches a certain critical mass, would shake whoever is in the White House, in Congress, into changing national policy on matters of war and social justice.

Let’s remember that even when there is a “better” candidate (yes, better Roosevelt than Hoover, better anyone than George Bush), that difference will not mean anything unless the power of the people asserts itself in ways that the occupant of the White House will find it dangerous to ignore.

The unprecedented policies of the New Deal—Social Security, unemployment insurance, job creation, minimum wage, subsidized housing—were not simply the result of FDR’s progressivism. The Roosevelt Administration, coming into office, faced a nation in turmoil. The last year of the Hoover Administration had experienced the rebellion of the Bonus Army—thousands of veterans of the First World War descending on Washington to demand help from Congress as their families were going hungry. There were disturbances of the unemployed in Detroit, Chicago, Boston, New York, Seattle.

In 1934, early in the Roosevelt Presidency, strikes broke out all over the country, including a general strike in Minneapolis, a general strike in San Francisco, hundreds of thousands on strike in the textile mills of the South. Unemployed councils formed all over the country. Desperate people were taking action on their own, defying the police to put back the furniture of evicted tenants, and creating self-help organizations with hundreds of thousands of members.

Without a national crisis—economic destitution and rebellion—it is not likely the Roosevelt Administration would have instituted the bold reforms that it did.

Read all of it here.

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Uncle Al Wants You : Gore To Recruit 10 Million Green Crusaders

Al Gore at the UN climate change conference in Bali in 2007. Photograph: Jewel Samad/AFP/Getty images

Massive volunteer force and tv campaign aimed at Congress
By Susan Goldenberg /The Guardian / April 1, 2008

Washington — Al Gore yesterday launched a drive to mobilise 10 million volunteers to force politicians to act on climate change – twice as many as the number who marched against the Vietnam war or in support of civil rights during the heyday of US activism in the 1960s.

During the next three years, his Alliance for Climate Protection plans to spend $300m (about £150m) on television advertising and online organising to make global warming among the most urgent issues for elected American leaders.

The wecansolveit.org initiative aims to build up pressure on the next US president to support stringent mandatory emissions controls when they come before Congress, and take a leadership role at the renegotiation of the Kyoto treaty.

Environmental activists yesterday described the plan as the most ambitious public campaign launched in the US.

“The resources are completely unprecedented in American politics,” said Philip Clapp, of the Pew Environment Group. It is equally ambitious in targets. The Alliance has already reached out to organisations as diverse as the Girl Scouts and the steelworkers union to try to broaden its appeal.

Gore told the Washington Post that he launched the initiative because of his concerns that US politicians had balked at supporting strong legislation on climate change.

“This climate crisis is so interwoven with habits and patterns that are so entrenched, the elected officials in both parties are going to be timid about enacting the bold changes that are needed until there is a change in the public’s sense of urgency in addressing this crisis,” Gore said. “I’ve tried everything else I know to try. The way to solve this crisis is to change the way the public thinks about it.”

Environmental activists said it was crucial that the campaign focus attention on green jobs and other positive consequences of going green – rather than the potential costs.

“What I am particularly hopeful about is that their advertising campaign will emphasise the economic opportunities,” said Reid Detchon, executive director for energy and climate change at the United Nations Fund. “That is where the political leverage is, particularly at a time when the economy is faltering. The opportunities for business and job creation are very large in this transition.”

The initiative was widely seen as the logical extension of campaigns such as moveon.org, which supports liberal causes and Democratic candidates and has more than 3 million supporters, and stopglobalwarming.org, which has more than a million supporters.

Chris Miller, director of US Greenpeace’s global warming campaign, said: “The movie An Inconvenient Truth and Gore’s work were incredibly strong in raising awareness. The step that it didn’t take is telling people how to solve the problem. This [campaign] is going to reinforce that there are steps we can take in our personal lives, but that ultimately it will take political leaders to solve the problem.”

But channelling growing public awareness and concern into a political force has proved difficult. Gore wants a 90% reduction in greenhouse gases by 2050 – a more ambitious target than those of Hillary Clinton or Barack Obama, who favour an 80% cut, or John McCain, who supports only a 60% reduction.

Last January, the League of Conservative Voters analysed transcripts of television interviews and debates with all the Democratic and Republican contenders for the White House. By January 25, the candidates had been asked 2,975 questions on a range of issues.

Only six of those mentioned the words “climate change” or “global warming”. That is not much greater than the level of media interest in the candidates’ positions on UFOs. They were asked three questions on UFOs in the same study.

But as Gore told CBS on Sunday night: “I’m not finished yet.”

The campaign is getting a hefty kick-start from Gore. The former vice-president has donated earnings from his Oscar-winning film, An Inconvenient Truth, his Nobel peace prize, and his job at a venture capital firm. In the first ad, a voiceover by the actor William H Macy says: “We didn’t wait for someone else to storm the beaches of Normandy. We didn’t wait for someone else to guarantee civil rights.” Future ads will feature political adversaries such as Newt Gingrich, a conservative Republican, in an attempt to elevate the cause above political divisions.

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Thanks to Harry Edwards / The Rag Blog

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The Real Issue Is Whether We Are a Nation of Laws

No One is Leading
By Mark A. Goldman / ICH / March 31, 2008

The American people have no one leading the charge for the restoration of the Constitution and the rule of law.

My point is not that few Americans are engaged and energized in doing good things, but simply that there is no individual who is leading… no one with whom you and a great many others are willing stand and fight in order to defend your country and your heritage.

Vying for political leadership are the two principal nominees hoping to be the Democratic candidate for President of the United States. And there’s also the Presidential candidate for the Republicans. But none of these candidates have made the ongoing perpetration of crimes — against our Constitution and the American people — an issue or a cause worth fighting for.

I’m not going to recount here all the ways that the Constitution and the rule of law have been trampled upon in recent years. A Google search on “Bush crimes” might be time well spent for anyone who needs a review.

Apparently most citizens have been talked out of their patriotism by the mainstream media, the two main political parties, and our elected officials — those traitors who conveniently forgot their oath of office while the Constitution was being so denigrated.

One issue in the upcoming election under discussion is the ending of the war in Iraq. But on close inspection we see that that, in and of itself, would be a bogus issue. The real issue is whether we are going to recognize the illegitimacy of the war, the crimes that were committed to instigate the war, and the ongoing crimes against the Constitution and innocent people in the administration of the war. The war itself was a direct attack on the Constitution and the American people… and of course on the people of Iraq and Afghanistan.

The real issue is whether we are a nation of laws… i.e., do we believe in the rule of law… or have we simply given up on the American Experiment and the Constitution itself. If we acknowledge that the war was illegal — that egregious crimes were committed in its execution — then it will follow that we must end the war. But what follows is much more than that.

Just talking about ending the war and bringing our troops home, without addressing the shredding of the Constitution, is a betrayal of every American and every soldier who ever fought in this war or any other. Are we going to reclaim ourselves as a Constitutional republic or have we given up trying to be the America that was originally conceived into being by the Framers?

Beyond the war and its illegality, are the following travesties that need to be addressed:

1. the illegitimate elections that fraudulently put criminals in charge of our government and kept them there.

2. the ongoing destruction of government itself by the purposeful evisceration of nearly every oversight function of government. Lies permeate government offices everywhere. That’s why the economy is failing, why we have no energy policy, why our educational system is behind the rest of the developed world, why all citizens do not have access to affordable health care, why our food supply is at risk, why our children are at risk even when they play with toys, why our infrastructure is in a state of decay, why inflation is stealing from every paycheck, why the over-bloated military industrial complex is bankrupting our country, why Congress no longer works as a body representing real people… and the list goes on and on.

3. when and how are we going to recognize and take responsibility for the crimes we have committed against other members of our human family?

If we refuse to acknowledge the crimes, and if we refuse to find and stand with a leader who is willing and able to honorably seek justice in their resolution, we will be surrendering our rights, our freedoms, and our heritage to the true enemies of our republic — we will be surrendering to ignorance, arrogance, cowardice, and greed. I invite you to review the following links as you consider your response.

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If You Think the Current Squabbling Is Bad

Knives and Pistols Drawn: Lively Fight at Texas Democratic County Convention

San Antonio, Texas, May 28, 1892 – The Democratic County Convention today, for the purpose of selecting delegates to the State, Congressional, Senatorial, and Judicial Conventions, was one of the most exciting political meetings ever held in the city. The convention was controlled by Gov. Hogg’s supporters, although 75 per cent of the delegates were Clark men. The bulldozing tactics of the Hogg leaders reached a climax when the Committee on Credentials was appointed. Not a Clark delegate was on the list.

The Clark men raised such a vehement protest against the gag rule that the excitement of the two factions became intense, and a free fight ensued. Knives and pistols were drawn by a number of Mexican delegates on the Hogg side of the house, and rush was made for the Clark men. Men were knocked down and tramped under foot. Owing to the close quarters of the belligerents, weapons could not be used freely, and no one was seriously injured. The police rushed in and quelled the disturbance.

The Clark delegates then withdrew from the convention and proceeded to the Belknap Armory, where they held a separate convention and selected a full list of delegates. Those to State Convention were instructed to vote for Clark for Governor. A Hogg delegation was selected by the first convention. A new County Executive Committee was chosen by the Clark convention.

From Mariann Wizard / The Rag Blog

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Hot Shots and Classic Takes

Billboard sighting in Berkeley. Photo by MediaDissent.
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Getting the Attention of the Bandit Class

If It’s Not Dead on Arrival, Someone Should Shoot It Quick: Paulson’s Fixit Plan for Wall Street
By MIKE WHITNEY

It is being billed as a “massive shakeup of US financial market regulation”, but don’t be deceived. Treasury Secretary Henry Paulson’s proposals for broad market reform are neither “timely” nor “thoughtful” (Reuters) In fact, its all just more of the same free market “we can police ourselves” mumbo jumbo that got us into this mess in the first place. The real objective of Paulson’s so called reforms is to decapitate the SEC and increase the powers of the Federal Reserve. Same wine, different bottle. Paulson’s motive is to preempt any regulatory sledgehammer that might descend on the entire financial industry following the 2008 election. There’s growing fear that an incoming Democrat may tote a firehose down to Wall Street.

If Paulson’s plan is approved in its present form, Congress will have even less control over the financial system than it does now and the same group of self-serving banking mandarins who created the biggest equity bubble in history will be able to administer the markets however they choose without the inconvenience of government supervision. That’s exactly what Wall Street, the Treasury Secretary and the folk at the Fed want; unlimited power with no accountability.

Paulson is expected to lay out guidelines and principles that are intended to help regulators supervise the financial markets. According to AFP:

“The President’s Working Group on Financial Markets said the current regulatory structure is working well despite calls by some US lawmakers.”

In other words, the failing banking system, the housing meltdown, and the frozen corporate bond market are all signs of a robust financial system? This may be the most ludicrous statement since “Mission accomplished”. The system is imploding and people are being hurt by the fallout. Thirty years of industry-led lobbying has dismantled the (admittedly frail ad porous) regulatory regime which made US financial markets the envy of the world. Whatever credibility and transparency once existed were washed out in the Clinton era, as with Glass-Steagall and government oversight of the explosive growth of over-the counter derivatives instruments. Now the system is prey to all types of dodgy debt instruments, suspicious “dark pool” trading and off-balance sheets operations which further reinforce the belief that cautious investment is no better than casino gambling.

“The regulatory line of sight today is by the counterparties,” the official said, adding that the guidelines should be “beneficial to industry.” (AFP)

How is that different than saying, “Caveat emptor”? That’s not a motto that inspires confidence. Many people still naively believe that planning their retirement should not have to be a Darwinian tussle with a crafty junk-bond salesman.

Under Paulson’s plan, the Federal Reserve will be granted new regulatory powers, but whatever for? The Fed doesn’t use the powers it has now. No one stopped the Fed from intervening in the mortgage lending fiasco, or the ratings agency abuses or the off-balance sheets shenanigans. They had the authority and they should have used it. The folks at the Fed knew everything that was going on—including the mushrooming sales of derivatives contracts which soared from under $1 trillion in 2000 to over $500 trillion in 2006—but they decided to cheerlead from the sidelines rather than do their jobs. The fact is, they were worried that if they got involved they might upset the gravy-train of profits that was enriching their bankster friends.

Former Fed chief Greenspan used to croon like a smitten teenager every time he was asked about subprime loans or adjustable rate mortgages. And, as New York Times columnist Floyd Norris points out, (Greenspan) “praised the growth in the derivatives market as a boon for market stability, and resisted calls to use the Fed’s power to increase regulation.” Of course, he did. It was all part of Maestro’s “New Economy”; trickle-down Elysium, where the endless flow of low interest credit merged with financial innovation to create a Reaganesque El Dorado. There are no regulations in this version of Eden, not even “Don’t bite the apple”. Anything goes and to heck with the public, they can fend for themselves.

Now its Paulson’s job to keep the neoliberal flame lit long enough to make sure that government busybodies and bureaucratic do-goodies don’t upset the cart. That means concocting a wacky public relations campaign to convince the public that Wall Street is not just a pirate’s cove of land-sharks and bunko artists, but a trusted ally in maintaining a strong economy through vital and efficient markets.

Read all of it here.

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Get ’em While They Last

The New Yorker


Thanks to Harry Edwards / The Rag Blog
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