Donal: Is Occupy Over?
Ramona's Piece de la Resistance (Including Pics of Obama, Romney, FDR)
dagblog To Give Away Logoed Hairshirt To Most Effective Lamenter Of Left's Ineptitude
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Donal: Is Occupy Over? Ramona's Piece de la Resistance (Including Pics of Obama, Romney, FDR) dagblog To Give Away Logoed Hairshirt To Most Effective Lamenter Of Left's Ineptitude |
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News: JPM sued by AG Schneiderman, New York
Jamie Dimon, head of J.P Morgan Chase Bank was whining again before attending the World Economic Forum in Davos, Switzerland a week ago. Maybe he was just out of sorts because JPM had such bad results for the last quarter. He complained that the "vilification" of large banks is unfair and a form of, well, discrimination. He said, "I have disagreed from the beginning with this blanket blame of all banks. It's a form of discrimination." Seems he doesn't like keeping bad company with other banks.
At least Dimon has moved on from his position at last year's Davos meeting where he was trying to cover for himself and the misbehaving eleven other banks with the credulity-straining statement that "only the undiversified banks failed". This year, as Dimon cleared bad company from his palatial dining room, Schneiderman showed up at the guard's shack with a summons. Damn, will this discrimination never end? Well, yes---the summons includes lots of other banks.
Schneiderman is suing JPM and affiliates plus BofA, Wells Fargo, MERS and others. #19 in the alleged misdoings states: "By creating this bizarre and complex end-around of the traditional public recording system, banks achieved their primary goal---over 70 million mortgage loans, including millions of subprime loan, have been registered in the MERS system and the industry has saved more than $2 Billion in recording fees. In addition, over the last several years, banks rapidly securitized and sold off millions of loans, often misrepresenting the quality and nature of the mortgage being transferred."
The details of the summons can be easily referenced at the Naked Capitalism website and elsewhere and it is the specific indictment and force of clarity that many of us wanted two years ago.
What is really not clear is how Schneiderman' suit relates to the 50 states' AG suit which has been expected from the Justice Dept. for the past two weeks. That suit is aimed at foreclosure practices and includes a MERS component. Beau Biden has already sued MERS, a Delaware Corp. for deceptive practices.
In a separate venue, Schneiderman has been named to Obama's new Task Force. The objective there is to investigate fraudulent practices in the origination and securitization of the MBS's, not the follow-on foreclosure practices.
AND IN ANOTHER DEVELOPMENT. OMG, will this discrimination never end? The Swiss Competition Commission, COMCO, has just opened an investigation into Derivatives Traders activities at the Swiss Banks---and traders at JPM and other U.S. Banks. Seems traders may have been manipulating LIBOR rates and then colluding in the trading of derivatives based on LIBOR. How is a mere CEO to keep up with the possible transgressions of rogue traders in such a diversified bank as JPM. Might have to close down another profit center. Pretty soon JPM will be back to an institution which takes in deposits and makes loans to small businesses.
So what's the resplendent banking CEO, Jamie Dimon, to do? Particularly in light of the fact that most likely many of the offenses occurred in companies which were acquired by JPM.
Well, Jamie, it's like when you and Mitt Romney keep reminding us that what happened on Obama's watch happened on his watch. So, sorry, it's your responsibility. But it's possible that you might sidetrack some of this unpleasantness by getting Romney elected and shutting down the newly formed Task Force. So send more campaign donations to Romney, and hope for the best. The NY summons will be hard on your myth-making career and you may feel justified, but no more whining. Think of how much worse it would be if the guy at the guard shack had a sheriff's order to throw your belongings out on the street rather than a mere summons for fraudulent foreclosure practices by the bank you supposedly manage.
Perceptive Dagblog readers know the difference between Obama, Romney and Bush:
Obama NYT today: .how President Obama’s thinking about what he once called “a war of necessity” began to radically change less than a year after he took up residency in the White House....The aide told Mr. Obama that he believed military leaders had agreed to the tight schedule to begin withdrawing those troops just 18 months later only because they thought they could persuade an inexperienced president to grant more time if they demanded it. “Well,” Mr. Obama responded that day, “I’m not going to give them more time.”...Mr. Obama concluded in his first year that the Bush-era dream of remaking Afghanistan was a fantasy...
Mitt Romney, Feb. 2012 : LAS VEGAS -- LAS VEGAS -- Republican presidential candidate Mitt Romney on Wednesday night blasted President Obama and his administration for “putting in jeopardy” the nation’s military mission by signaling it hopes to end its combat mission in Afghanistan by the middle of 2013.
Appearing at a campaign rally here shortly after landing in Nevada, Romney said Defense Secretary Leon E. Panetta’s statement Wednesday that U.S. forces would transition from a combat mission in Afghanistan next year “makes absolutely no sense.”....
George W. Bush, from May, 2003: BBC - "We do not know the day of final victory, but we have seen the turning of the tide... Free nations will press on to victory,"
Bush Afghanistan strategy : Gen. Douglas E. Lute, who had spent the last two years of the Bush administration trying to manage the many trade-offs necessary as the Iraq war consumed troop and intelligence resources needed in Afghanistan, arrived with a PowerPoint presentation. The first slide that General Lute threw onto the screen caught the eye of Thomas E. Donilon, later President Obama’s national security adviser. “It said we do not have a strategy in Afghanistan that you can articulate or achieve,” Mr. Donilon recalled three years later. “We had been at war for eight years, and no one could explain the strategy.”
Mitt Romney isn’t very far into the vice presidential selection process. But according to a dedicated band of conspiracy theorists, the pick is all but a lock: Sen. Marco Rubio.
That’s the current thinking among a worldwide collection of activists who are obsessed with the secretive Bilderberg Group, an alternating roster of global power players who loom as large — if not larger — in the online fever swamps of the fringe as the Trilateral Commission or the Council on Foreign Relations.
Read more: http://www.politico.com/news/stories/0512/76518.html#ixzz1vN5egowz
Aristotle and Plato didn’t agree on much, but they were united in identifying wonder as the origin of their profession. As Aristotle said, “It is owing to their wonder that men . . . first began to philosophise.” This idea appeals to scientists, who frequently enlist wonder as a goad to inquiry. “I think everyone in every culture has felt a sense of awe and wonder looking at the sky,” wrote Carl Sagan in 1985, locating in this response the stirrings of a Copernican desire to know who and where we are.
Yet that is not the only direction in which wonder may take us. To Thomas Carlyle, wonder sits at the beginning not of science, but of religion. That is the central tension in forging an alliance of wonder with science: will it make us curious, or induce us to prostrate ourselves in pitiful ignorance? We had better get to grips with this question before we too hastily appropriate wonder to sell science. That is surely what is going on when pictures from the Hubble Space Telescope are (unconsciously?) cropped and coloured to recall the sublime iconography of Romantic landscape painting, or the Human Genome Project is wrapped in biblical rhetoric, or the Large Hadron Collider’s proton-smashing is depicted as “replaying the moment of creation”. The point is not that such things are deceitful or improper, but that if we want to take that path, we should first consider the complex evolution of the relation between science and wonder.
[....]
Pretending that science is performed by people who have undergone a Baconian purification of the emotions only deepens the danger that it will seem alien and odd to outsiders, something carried out by people who do not think as they do. Daston believes that we have inherited a “view of intelligence as neatly detached from emotional, moral and aesthetic impulses, and a related and coeval view of scientific objectivity that brand[s] such impulses as contaminants”. It is easy to understand the historical origins of this attitude: the need to distinguish science from credulous “enthusiasm”, to develop an authoritative voice, to strip away the pretensions of the mystical Renaissance magus who acquired knowledge through personal revelation. We no longer need these defences, however; worse, they become a defensive reflex that exposes scientists to the caricature of the emotionally constipated boffin, hiding within thickets of jargon.
... We’re trying to harness photosynthesis. A key part of photosynthesis is what happens when the sun goes down. Cells convert CO2 into sugar and fat molecules. And they store the fat to burn as energy to get them through the night ... We’re trying to coax our synthetic cells to ... store far more fat than they actually were designed to do, so that we can harness it all as an energy source and use it to create gasoline, diesel fuel, and jet fuel straight from carbon dioxide and sunlight. This would shift the carbon equation so we’re recycling CO2 instead of taking new carbon out of the ground and creating still more CO2. But it has to be done on a massive scale to have any real impact on the amount of CO2 we’re putting into the atmosphere, let alone recovering from the atmosphere.
... We envision facilities the size of San Francisco. And 10 or 15 of those in this country. We need sunlight, seawater, and non-agricultural land, but you need a lot of photons to drive this. You need a lot of surface area of sunlight to do that. It’s a great use for Arizona. Lots of sunlight there.
... If we can’t get some key scientific breakthroughs within the next couple of years, it probably won’t happen in 10 years. So it’s something that’s really dependent on fundamental science. But we’re already able to do things that were once seen as impossible.
... I think the new anti-intellectualism that’s showing up in politics today is a symptom of our not discussing these issues enough. We don’t discuss how our society is now 100 percent dependent on science for its future. We need new scientific breakthroughs—sometimes to overcome the scientific breakthroughs of the past. A hundred years ago oil sounded like a great discovery. You could burn it and run engines off it. I don’t think anybody anticipated that it would actually change the atmosphere of our planet. Because of that we have to come up with new approaches. We just passed the 7 billion population mark. In 12 years, we’re going to reach 8 billion. If we let things run their natural course, we’ll have massive pandemics, people starving. Without science I don’t see much hope for humanity.
Yowza! This is good stuff.
Is it possible that the majority of the 99% are sociopathic or at the very least narcissists, 'cuz that's my impression when it comes to Wall Street, Romney and his cohorts and the list goes on.
Thanks for this.
(Hey, you didn't mean I can't whine anymore either did ya? Hope not.)
No, we are like Leona Helmsley's poor little creatures who have to take responsibility and pay our taxes. We aren't allowed to whine.
Thanks, Trk. Looking at the polls, it seems he has lost some Independents.