BS: As much as I've grown to dislike Obama

Subject: RE: BS: As much as I've grown to dislike Obama
From: GUEST,Guest from Sanity
Date: 12 Oct 11 - 02:55 AM

Strings,
Russel Means on 'Corporate Socialism'......(Starts on :36)

...and then there's this!!!!

GfS

Subject: RE: BS: As much as I've grown to dislike Obama
From: Greg F.
Date: 12 Oct 11 - 08:49 AM

Oh, it must be special to have 'sources' which can't be revealed....

Kinda like ol' Tailgunner Joe, ain't it, Bill? & we know what became of him.

Subject: RE: BS: As much as I've grown to dislike Obama
From: Little Hawk
Date: 12 Oct 11 - 12:33 PM

"Oh, it must be special to have 'sources' which can't be revealed...."

Oh, it is, Bill, it is. Sooooo special. ;-) But not as special as having a Dachshund!

****

Excellent commentary from Russel Means, GfS. I don't think of the word "socialism" anything like he does (I think of it as providing vital social services...such as health care and education, libraries, roads, a legal system, etc...to everyone in a fair and equal fashion, regardless of who they are) (while he seems to think of it as a system which takes over absolutely everything)....thus he speaks of "corporate socialism" which I would call "corporate fascism"....however, he's American, right? And "socialism" is a word that's been totally demonized in the USA. He does say that it's "socialism on the Right" and I understand what he means by that...he means that a corporate elite ends up dominating and controlling the society in a centralized manner. That is accurate.

In any case, quite aside from our different take on the meaning of the word "socialism", I agree with pretty much everything he says.

Are these dire predictions what we want to see happen, Bill? Hell, no! But it's what we think IS probably happening even though it's about the last thing we could possibly want. You have to say it like you see it, even if it IS the last thing you would want to see happen. I see no hope of the Democratic or Republican parties delivering your nation from the mess it's in...no more than I would have seen any hope of the Nazi Party delivering Germany from the mess it was in in the 40s or Nero or Caligula delivering Rome from the mess it was in in its latter days.

This doesn't mean that I derive any satisfaction from seeing it that way. I don't. It horrifies me. I just hope to survive anyway and have a reasonably happy life regardless. That's the best you can hope for when you're living in a society that has lost touch with basic reality and sold itself to the highest bidders.

Subject: RE: BS: As much as I've grown to dislike Obama
From: GUEST,Songbob
Date: 12 Oct 11 - 12:59 PM

I posted this on the OWS thread, but it's applicable here, too:

Socialized/Privatized


Come, all you union members
And workers in your shop;
And all the laid-off folks who dread
The day the checks will stop;
Employers paying three folks,
Who used to employ ten;
We are the angry Ninety-nine,
Marching once again.

Refrain:

From Wall Street home to Main Street, shout loud the clear refrain:
"They've socialized the losses, and privatized the gains!" (2X)

The One-Percenters at the top,
With greed their only aim,
Have done their best to hide the way
They've played their selfish game.
So secretly they've tweaked the rules,
To keep us in the dark;
But now we're waking from our sleep,
And gathering in the park.


Refrain

When profits rise so high, you see,
And wages stay so low,
It's obvious the powers that be
Just don't want us to know.
As Joseph Stiglitz put it,
In words so clear and plain,
They socialize the losses,
But privatize the gain.


Last Refrain:

From Wall Street home to Main Street, shout loud the clear refrain:
"The people take the losses, the bosses take the gains!" (2X)



©2011 Annie Storr & Bob Clayton

Subject: RE: BS: As much as I've grown to dislike Obama
From: Little Hawk
Date: 12 Oct 11 - 01:07 PM

Well put. There has to be a people's revolution to confront the elite (I don't mean a violent revolution...that would be a huge error!...I do mean a nonviolent revolution). It cannot be done through the traditional political parties, in my opinion, because they have become mere passive tools of the elite, through the power of the elite's control of money. The people's revolution must totally bypass the usual channels and structures that are subject TO the power of the elite's money.

Subject: RE: BS: As much as I've grown to dislike Obama
From: GUEST,999
Date: 12 Oct 11 - 03:06 PM

First post didn't take.

Bob, I love the lyrics. Any place you two can be heard singing the song?

Subject: RE: BS: As much as I've grown to dislike Obama
From: GUEST,Songbob
Date: 12 Oct 11 - 04:55 PM

"Bob, I love the lyrics. Any place you two can be heard singing the song?"

I'm going to see about making a Zoom recording this evening. Probably won't have Annie along -- it was her lyric that started it, but she put in it, "Probably needs more verses," so I added them. I'm thinking it fits several existing tunes, including a variation on Stephen Foster's tune for "We're Coming, Father Abraham," which itself is pretty unknown.

I may even try a video, so I can post it on You Tube and/or Facebook. We'll see how much progress I make this evening. You know about those "best-laid plans" and how those turn out.

Bob

Subject: RE: BS: As much as I've grown to dislike Obama
From: frogprince
Date: 12 Oct 11 - 07:14 PM

"Buffalo Skinners" (or whatever tune name that is) would work as a decent option.

Subject: RE: BS: As much as I've grown to dislike Obama
From: GUEST,999
Date: 13 Oct 11 - 08:13 AM

Bob, I'd love to hear it when you can get to it.

Subject: RE: BS: As much as I've grown to dislike Obama
From: Jeri
Date: 13 Oct 11 - 09:31 AM

I'd love to hear it too.
And then, I'd love to share the song everywhere I can. You guys nailed the lyrics!

It works to "Which Side Are You On" too, with some tweaking for the refrain. Needs a tune that's strong, not-so-much "pretty", and the
Stephen Foster tune sounds parlor-pretty to me. Of course, a lot depends on how you sing it.

Subject: RE: BS: As much as I've grown to dislike Obama
From: Uncle_DaveO
Date: 13 Oct 11 - 09:36 AM

As to the tune, I've been singing that (in my mind) to
Which Side Are You On?

Dave Oesterreich

Subject: RE: BS: As much as I've grown to dislike Obama
From: Uncle_DaveO
Date: 13 Oct 11 - 10:05 AM

Josepp, I won't comment (for the moment, at least) on your attitude toward President Obama, but I need to quote an extremely mistaken part of your originating post:

What kind of people are these that decide whether you're qualified for a political office based on your religion or lack of?? Something the Constitution forbids!

The Constitution does no such thing.

The function of the Constitution is to define and/or limit the shape and powers of the Government. It does not apply to the opinions, arguments, or votes of individuals. You or I may be as prejudiced on the subject of religion as can be described, and may advocate voting (and vote!)for or against a candidate based on our prejudices, but that does not run afoul of the Constitution.

I join with your attitude toward those who would disqualify a candidate on the basis of his/her religion, as some seem to do with Romney.

Of course, if a candidate signals (expressly or by implication) that, as an officeholder, because of his religion he would take actions I consider harmful or unconstitutional, I am free to advocate or vote against him, but that's not religious prejudice.

Dave Oesterreich

Subject: RE: BS: As much as I've grown to dislike Obama
From: GUEST,Songbob
Date: 13 Oct 11 - 05:12 PM

I thought of "Which Side," too, but settled on a variation of the Stephen Foster tune. The result is a sort of early-Paxtonish tune that sings well and doesn't strain the voice by being too high or too low. A lot like Woody might have done.

I did a quick-and-dirty video of it last night, using my laptop's camera and mic (and the sound isn't all that great because of that). I'll see about posting it -- probably on Facebook but perhaps also on UTube -- later tonight. I have to help someone figure out why she can't open emailed photos except from within MS Outlook, but when I get back, I'll try the uploading.

Bob

Subject: RE: BS: As much as I've grown to dislike Obama
From: Sawzaw
Date: 13 Oct 11 - 11:34 PM

At least they nailed this asshole. Good job on this one.

Hedge fund exec gets 11 years for insider trading

AP Raj Rajaratnam, the hedge fund billionaire at the center of the biggest insider-trading case in U.S. history, was sentenced Thursday to 11 years behind bars the stiffest punishment ever handed out for the crime.

"His crimes and the scope of his crimes reflect a virus in our business culture that needs to be eradicated," U.S. District Judge Richard J. Holwell said. "Simple justice requires a lengthy sentence." The 54-year-old founder of the Galleon Group hedge fund was also fined $10 million and ordered to forfeit $53.8 million in what the judge said were illicit profits from trading on confidential corporate information.

Prosecutors said Rajaratnam made as much as $75 million in all by cultivating a network of friends, former classmates and other tipsters at various companies and investment firms who supplied him with early word on such things as mergers and earnings announcements. In return, they received kickbacks or a chance to get in on the action. Among the companies he profited from were Google, IBM, Hilton Hotels, Intel, Advanced Micro Devices and Goldman Sachs.

The sentencing was the last major act in a series of prosecutions that followed Rajaratnam's arrest in 2009, the same year he was ranked No. 559 by Forbes magazine among the world's wealthiest billionaires, with a $1.3 billion net worth. More than two dozen people were arrested in the investigation, nicknamed Perfect Hedge, and all were convicted.

The scandal along with the 2008 financial meltdown and the Wall Street abuses it exposed stoked populist anger in the U.S. and complaints that the stock market is a sucker's game, rigged by insiders.

The judge called it "an assault on the free markets that are a fundamental element of our democratic society. There may not be readily identifiable victims, but when the playing field is not level, the integrity of the marketplace is called into question and the public suffers." Asked at his sentencing if he would like to speak, Rajaratnam responded: "No, thank you, Your Honor."

The Sri Lanka-born Rajaratnam was ordered to report to a yet-to-be-designated prison Nov. 28. Until then, he must remain confined to his $10 million Manhattan condominium. His lawyers asked that he be sent to the medical facility at the federal prison in North Carolina where Bernard Madoff is serving his 150-year sentence. He has advanced diabetes and needs a kidney transplant, according to the judge.

The longest previous sentence in an insider-trading case was 10 years, given twice before, most recently last month to one of Rajaratnam's co-defendants. But Rajaratnam's punishment fell far short of the 24½ years prosecutors had requested. Federal prosecutor Reed Brodsky said insider trading "makes a mockery of the principle that no one participant has an unfair advantage through thievery." He said Rajaratnam corrupted at least 20 fellow traders and insiders, and at least 19 public companies were victims of his crimes.

"Today you sentence a man who is the modern face of illegal insider trading," Brodsky told the judge. "He is arguably the most egregious insider trader to face sentencing in a courthouse in the United States." The prosecutor said insider trading carried out by smart, educated people had "become rampant" because the incentives to commit it were higher than ever before and detecting it was extremely difficult. The judge said Rajaratnam deserved some leniency, noting his poor health and his charitable work in helping the homeless and the victims of Sept. 11 and natural disasters.

Rajaratnam's lawyers had argued for 6½ to nine years. Defense attorney Terence Lynam asked the judge to show compassion because of Rajaratnam's illnesses, saying: "He does not deserve to die in prison." Galleon was one of the world's largest hedge funds before it collapsed in the wake of Rajaratnam's arrest, and the case against him and his cohorts was one of the most closely watched insider-trading scandals since the Ivan Boesky and Michael Milken cases in the 1980s.

Boesky was a stock speculator who pleaded guilty and served two years in prison. Milken, known as the junk bond king, pleaded guilty to securities violations in 1989, served 22 months and paid a $200 million fine. The Rajaratnam probe relied heavily on the most extensive use of wiretaps ever for a white-collar case. Prosecutors captured conversations in which he and his accomplices could be heard gleefully celebrating their inside information.

At his trial in May, prosecutors said Rajaratnam could convert short telephone conversations into millions in profits. For instance, they said, a 30-minute call with an Intel Corp. insider yielded a $2 million windfall. Anil Kumar, Rajaratnam's classmate at the University of Pennsylvania's prestigious Wharton School, testified that he fed Rajaratnam inside information about the acquisition of ATI Technologies Inc. by Kumar's client, Advanced Micro Devices Inc.

"I told him that this was 'red hot' and shouldn't be discussed," Kumar said. He added that he also warned: "This is going to be a complete shock to the industry ... so treat this with the strictest of confidence." Prosecutors said Rajaratnam used the information to trade in advance of the ATI-AMD deal, making $20 million. They said Rajaratnam rewarded Kumar with a $1 million kickback.

Also, Rajaratnam bought $27 million in Goldman Sachs stock after getting an illegal tip that Warren Buffett was going to pump $5 billion into the struggling investment bank.

"We can only hope that this case will be the wake-up call we said it should be," U.S. Attorney Preet Bharara said in a statement Thursday. "It is a sad conclusion to what once seemed to be a glittering story. ... Privileged professionals do not get a free pass to pursue profit through corrupt means."

Subject: RE: BS: As much as I've grown to dislike Obama
From: GUEST,AVFS (Annie)
Date: 13 Oct 11 - 11:53 PM

Socialize/Privatize:

Bob sings it better (see the video), but I got the unsurpassable thrill of singing this new song in the center of MacPherson Square, the Occupy DC camp, in the rain tonight, to an ad hoc audience of spirited protesters in muddy ponchos. Whatever I don't have in talent, I hope I made up in motivation...and pride in my son who is in his 7th day on site. Even middle-aged women in their business suits apparently can find a place in this effort. Sing out!

Annie S

Subject: RE: BS: As much as I've grown to dislike Obama
From: Stilly River Sage
Date: 14 Oct 11 - 10:18 PM

Good for you!