Posts filed under ‘Corporatocracy’
This sentence pretty much sums up where we’re at here in the U.S. when it come to our politicians:
Later today, according to press reports, President Obama will visit LA for a series of events including a speech on income inequality and, in awkward contrast, a $34k-a-ticket fundraiser at the home of Gwyneth Paltrow.
“Awkward contrast” is right.
Too bad businesses can write-off their costs of doing business because, at least in the case of Vanguard, the mutual fund company, that makes them sloppy and wasteful.
I had an account at Vanguard that I closed oh, roughly eight or nine years ago. Today, as I have every year since, I got a letter asking me to verify my beneficiary designation for the account and to call if I wanted to make changes.
I presume Vanguard can write-off the cost of the paper and the postage for this thing and meanwhile, I can only wonder when I’ll stop getting them. Geezus.
One might call it “chutzpah,” as several irate lawmakers did, or “rubbing salt in the wounds” of the American taxpayer. But to a few Wall Street financiers, a lawsuit that accuses the government of shortchanging the American International Group in its 2008 bailout is something else: a promising investment in a cause they support.
Maurice R. Greenberg, 89, the former A.I.G. chief executive who still holds a large stake in the insurance company, filed the lawsuit on behalf of fellow shareholders. He has now raised several million dollars from three Wall Street companions to help cover the cost of the case. The investors, who are entitled to a cut of any damages Mr. Greenberg collects from the government, contributed about 15 percent of the tens of millions of dollars in legal costs, according to people with knowledge of the arrangement.
Six years after the government saved Wall Street from the brink of collapse, the lawsuit is coming to trial, reopening one of the ugliest chapters in modern financial history. The trial, which begins next week in Washington, will most likely hinge on testimony from the policy makers who orchestrated A.I.G.’s rescue, including former Federal Reserve Chairman Ben S. Bernanke and former Treasury Secretary Timothy F. Geithner.
So Greenberg wants $40 billion more from us? Wanna bet he’s a Republican who favors “small government,” by which he means small for We the Peons, not small when it comes to bailouts.
Food That Will Kill Us: Obama’s USDA, in the Hands of the Corporatocracy, is Making Our Food Inedible and Our Planet Unlivable
Ah yes, Obama’s USDA:
Despite the objections of hundreds of thousands of Americans and more than 50 members of Congress, the United States Department of Agriculture (USDA) granted final approval to a new generation of genetically engineered (GE) crops on Wednesday [September 17, 2014].
According to the agency’s own findings, the move could result in up to a sevenfold increase in the use of an older, more toxic herbicide known as 2,4-D, a compound used in Agent Orange during the Vietnam War. The new GE crops, also known as GMOs, approved include Dow’s Enlist Duo corn and soy. These crops were developing to survived sprayings of both glyphosate, the active ingredient in Monsanto’s Roundup weedkiller, and 2,4-D.
As an aside, to those who say Obama’s a great guy but his hands are tied because of the Republican-controlled House and the Republican do-nothings in the Senate, what say you about this? This is his USDA.
“The USDA’s approval of these crops is proof that today’s destructive, industrial agriculture model, based on a system of GMO mono-crops, is a failure,” says Ronnie Cummins, international director of the Organic Consumers Association and its Mexico affiliate, Via Organica. “Farmers have been sold the lie that they can increase yields and prevent crop failure from weeds by buying Monsanto’s and Dow’s GMO seeds and dousing them in toxic poisons, also manufactured and sold by Monsanto and Dow. But just as scientists predicted, these ‘miracle’ crops are evolving to resist the poisons thrown on them, causing the USDA and the EPA to approve increasingly toxic poisons to fight increasingly resistant weeds. Where does the escalation end?”
Let’s ponder the long run for a sec here: Who’s smarter? Who’s doing the best job planning for the future?
I vote for China.
This is what the U.S. gets allowing itself to become a corporatocracy run by lobbyist$ who drain it via endless war.
This is just unacceptable. First Target, now Home Depot. Corporations and credit card companies are refusing to spend money to protect their systems and we “consumers” are left holding the bag.
I’m ashamed to admit it because the founder of Home Depot is a crazed, anti-worker corporatist who compared people who are working for more balanced income equality to Nazis, but I purchased gardening supplies from them this summer so hey, I guess I better get a new debit card.
Home Depot Inc (HD.N) said on Thursday that data could have been stolen from 56 million payment cards by criminals who used malware from April to September to hack into its systems at stores in the United States and Canada.
The world’s largest home improvement chain said the malware, which was custom-built to evade detection, has been removed from its U.S. and Canadian stores.
Home Depot started investigating the breach from Sept. 2 after security website Krebs on Security reported that all of the retailer’s U.S. stores may have been affected by data theft.
“We apologize to our customers for the inconvenience and ‘anxiety this has caused and want to reassure them that they will not be liable for fraudulent charges,” Home Depot’s chairman and chief executive officer, Frank Blake, said in a statement.
I can only imagine going to Home Depot complaining about a “fraudulent charge” and the bureaucratic nightmare that would ensue trying to get it removed.
Yep, you read that title right:
Sofosbuvir, the wonder medicine for Hepatitis C that costs $84,000 … for a 24-week treatment regimen in the US, will soon be available in India for about $1,800 … for the same regimen. The patent holder, pharma major Gilead, announced on Monday that it would be selling the drug at this price in India and also giving voluntary licences to seven Indian pharma companies to produce it.
This is outrageous and it’s where we need government regulation where there is none. This is extortion thinly disguised as capitalism but also looking a whole lot like raw greed.