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The Glass-Steagall Moment is Upon Us
LaRouche
Spanish Collapse Can Bring Down the Trans-Atlantic System this Weekend
Abruptly, but lawfully, the Spanish debt crisis has erupted over the past 48 hours into a systemic rupture in the entire trans-Atlantic financial and monetary facade, posing the immediate question: Will the European Monetary Union and the entire trans-Atlantic financial system survive to the end of this holiday weekend?
Late on Friday afternoon, the Spanish government revealed that the cost of bailing out the Bankia bank, which was nationalized on May 9, will now cost Spanish taxpayers nearly 24 billion euro—and rising. Many other Spanish banks are facing imminent collapse or bailout; the autonomous Spanish regions, with gigantic debts of their own, are all now bankrupt and desperate for their own bailout. Over the last week, Spanish and foreign depositors have been pulling their money out of the weakest Spanish banks in a panic, in a repeat of the capital flight out of the Greek banks months ago.
CAPITOLISM
Timothy V. Gatto
In the Twenty-first Century there are two distinct economic models. The predominant is Capitalism and the other is Socialism .Communism has fallen by the wayside as a system that is too easily usurped by totalitarianism. Capitalism is a socio-economic system that eventually is run by the rich and takes advantage by the rich at the expense of the working class that is the prime mover of the system. Capital dictates the direction of Capitalism.
Since the Early 1970's the economic model of Capitalism has favored the upper 20% of moneyed capital. The 1% has been the prime engine that dictates the direction that Capitalism seems to be moving. These people are the CEO's and the moneyed interests behind the direction that Capitalism has moved. Some are members of the corporate structure, others are not, being the financial backers that the corporations get their funding from. These are banks, hedge funds and private inventors. All of these entities demand that they have a distinct say in the direction that the corporation takes.
Police Brutality During Chicago NATO Summit
by Stephen Lendman
NATO arrives everywhere violently. Chicago was no exception. Residents were terrorized for days.
Many are still recovering. For some, it's from hospital beds. Others are behind bars. Chicago cops upheld their odious reputation. The city is notorious for being America's police repression capital.
On May 25, the National Lawyers Guild (NLG) Chicago chapter assessed days of police brutality. More on that below.
Former NLG leader Arthur Kinoy (1920 - 2003) spoke for like-minded activists, saying: "We, as lawyers, are fighting to keep the First Amendment alive in the legal arena. The people are fighting to keep the First Amendment alive in the streets, in their homes, in the factories, in the legislative halls, in the political arena."
Social Justice on Trial in Canada
by Stephen Lendman
Destructive neoliberal mandates harm US and European societies. Canada's conservative government force-feeds similar policies.
They include wage and benefit cuts, less social spending, privatization of state resources, mass layoffs, deregulation, tax cuts for corporations and super-rich elites, and harsh crackdowns against resisters.
It's also about sharply hiking college tuition fees, student anger, and criminalizing public responses. More on that below.
In the 1980s, it was called Reaganomics, trickle down, and Thatcherism. In the 1990s, it was "shock therapy." Today, it's austerity. The result is unprecedented wealth transfers to corporate favorites and privileged elites.
Killings, cancer, corruption and Azerbaijan: Eurovision in the Islamic Republic of BP
by Greg Palast
Will “Beyond Petroleum” oil giant BP pick the winner of the Eurovision Song Contest today in Baku, Azerbaijan? If so, I wouldn’t be surprised.
When I was arrested by the military police of Azerbaijan during my investigation of BP for Channel 4′s Dispatches in 2010, one of the cops who surrounded our crew in the desert told us, with great pride:
Israel is a crime against humanity
By Khalid Amayreh
Thanks to the fact that much of the western media deliberately avoids exposing Israeli criminality, probably for fear of being accused of anti-Semitism, much of the brutal ugliness of the Jewish state remains unknown to millions of Europeans and North Americans.
This is the reason that many people in the west are still buying the big, obscene lie that Israel is a western democracy which upholds basic human rights and civil liberties. But the facts on the ground are much uglier than many people think, irrespective of how vociferous and dogged Israeli hasbara operatives get when defending and justifying Israeli misdeeds and crimes. The truth of the matter is that institutionalized oppression, racism and terror against the native Palestinians have always constituted and continue to constitute Israel's modus operandi.
Iran Nuclear Talks in Baghdad
by Stephen Lendman
Previous nuclear talks failed. On April 14 and 15, another round convened.
Istanbul hosted so-called P5+1 countries. They include the five permanent Security Council members - America, Russia, China, Britain, and France - plus Germany.
Iran participated in good faith. Its delegation came with little hope hardline Western views would soften. On April 14, both sides agreed to more talks in Baghdad on May 23.
At issue isn't Iran's nuclear program. Tehran's a Nuclear Non-Proliferation Treaty (NPT) signatory. It complies fully with provisions. No evidence suggests otherwise. Nonetheless, bogus accusations persist.
Separate and Unequal in Israel
by Stephen Lendman
On May 23, Yousef Munayyer headlined his New York Times op-ed "Not All Israeli Citizens are Equal," saying:
Residing in Lod, Israel, he's an Arab citizen. His Palestinian wife lives in Nablus in the West Bank.
Israel separates them 30 miles apart. Discriminatory laws, "walls, checkpoints, settlements and soldiers" enforce it. Normal life is impossible. More on that below.
Palestinians face occupation repression. Arab Israeli citizens bear their own cross. Institutionalized intolerance harms them. Israel calls them fifth column and demographic threats.
All aspects of their lives are affected. Socioeconomic discrimination includes land policies, urban planning, housing, infrastructure, economic development, employment, education, healthcare, and personal safety.
Rupert Watch, Leveson Testimony Spells Doom for Cameron and Hunt
By Michael Collins
"Cameron continues to insist that the inquiry is the best forum to evaluate Hunt’s actions. This signals the beginning of the end for Cameron. He’s proposing a solution for the Hunt investigation that is outside the rules of Parliament, in a forum that has rejected him. Upon closer examination, existing evidence will lead to even stronger condemnation of Hunt’s behaviour. Any new materials produced by the inquiry will bury him.
"Where will that leave Cameron? Finished!" Michael Collins, Independentaustralia.net May 10, 2012
Queens Counsel Robert Jay unearthed a devastating piece of evidence that will surely create calls for the resignation of both culture secretary Jeremy Hunt and Prime Minister David Cameron.
In afternoon testimony at the Leveson Inquiry today (5/24), Jay confronted News Corp lobbyist Frederic Michel with an email rendition of a Hunt to Cameron memo of November 19, 2010 (see testimony/full memo at end of article). Hunt is clearly cheerleading for the News Corp acquisition of immensely profitable pay TV network BSkyB. News Corp owned 39% of the network and wanted to purchase the remaining 61%. This acquisition was absolutely critical to News Corp profitability and as a sign that Rupert and James Murdoch actually knew what they were doing.
What is bad and what is good: an interview with Prof. Roger Crisp
By Kourosh Ziabari
The humankind has always been busy with answering the questions on what is morally good and what is morally unacceptable since he wanted to adhere to what the members of the society admire and appreciate. People have always been after finding the codes of ethics and the behaviors which are morally justifiable. Although the citizens of liberal societies are less concerned with the issues of morality as they believe that what does not violate the freedom of others and does not molest them is socially acceptable, the fact that morality has historically occupied the mind of human being as a major question of life is undeniable, especially given that moral issues have always had religious implications, as well.
Roger Crisp is a Professor of Moral Philosophy in the University of Oxford's St. Anne's College. His fields of expertise are metaethics, normative ethics and applied ethics. In addition, he is Chairman of the Management Committee of the Oxford Uehiro Centre for Practical Ethics.
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