Let’s say that Norm Coleman mangaes to steal the election as a Minnesota senator ala Bush and the Supreme Court 2000. He’ll most likely be indicted and given the boot anyway, Exec says Coleman donor ordered $100K payments
The former finance chief of a Texas company controlled by Nasser Kazeminy, a close friend of former Sen. Norm Coleman, said in a deposition last week that Kazeminy ordered $100,000 in fees be paid to a Minneapolis insurance agency where Coleman’s wife was employed.
B.J. Thomas, who was chief financial officer of Deep Marine Technology Inc., said that $75,000 of that sum was paid to Hays Companies even though he saw no evidence of Deep Marine receiving any consulting services from Hays.
[ ]…In the two weeks before the November U.S. Senate election, two lawsuits were filed against Deep Marine — one by McKim and one by a group of minority shareholders. In them, Kazeminy was accused of funneling payments to Hays to benefit the Colemans, as well as other alleged financial wrongdoing.
Of course Coleman’s attorney is denying Normie got any of that cash. Nasser Kazeminy just happened to have some extra cash stuffed in wallet so he stopped by the conveniently located office where Norm Coleman’s wife just happen to work. It is a world of coincidences isn’t it.
After 1980, of course, a very different financial system emerged. In the deregulation-minded Reagan era, old-fashioned banking was increasingly replaced by wheeling and dealing on a grand scale.
[ ]…Underlying the glamorous new world of finance was the process of securitization. Loans no longer stayed with the lender. Instead, they were sold on to others, who sliced, diced and puréed individual debts to synthesize new assets. Subprime mortgages, credit card debts, car loans — all went into the financial system’s juicer. Out the other end, supposedly, came sweet-tasting AAA investments. And financial wizards were lavishly rewarded for overseeing the process.
But the wizards were frauds, whether they knew it or not, and their magic turned out to be no more than a collection of cheap stage tricks.
I wish that Krugman were not right. Lawrence Summers takes a much deserved quip early in the piece, Obama is calling the shots. The president, with good intentions, is trying to bring back the good old system that many have worshipped since the eighties, the Gordon Gecko greed is good school of capitalism. Sure, Geithner has spoken about new regulations, but even with news regs we get many of the same huge companies that think they’re too big to fail, going back to pretty much the same things they were doing before. This doesn’t mean that they can’t bring the economy out of this slump short to midterm. It means that given the chance to make more fundamental changes that take another collapse of this size off the table, they’re hedging.
Republicans do have a plan – MY FAVORITE BUDGET EVER
Bush, famously, described his first budget by saying, “It’s clearly a budget. It’s got a lot of numbers in it.” Indeed it was, and did. This isn’t. There are no numbers. Let me repeat that: The Republican budget proposal does not say how much money they would raise, or spend. The Oxford English Dictionary defines a “budget” as “an estimate of income and expenditure for a set period of time.” This is not a budget. It talks about balancing the budget but doesn’t explain how. It advocates tax cuts but doesn’t estimate their costs. It promises to cut programs but doesn’t name them.
Republicans did not want to pay for 9-11, Iraq, Afghanistan, New Orleans, infrastructure maintenance or improvements, expanded health-care for children and they didn’t. They, the original generational wealth thieves, borrowed the money from your children, while they gave the richest ten percent of America a huge tax cut. Their current plan, even bereft of details smells a lot like the old plan. It is not a plan so much as yet another middle finger to the concept of acting like responsible adults.
Greg Sargent reports that Joe the Plumber has been tapped by the anti-labor Americans for Prosperity to do “a series of events throughout Pennsylvania rallying opposition to the Employee Free Choice Act.”
“Americans for Prosperity” is another one of those fascist-lite Republican organizations that seem to pop up every other week. The larger goal is always the same, do not let people that do the actual work that creates wealth, get too much power or freedom. The “Prosperity” part is an ironic term of propagnda from Bush’s “Clear Skies” school of public relations. Clear Skies was not about clear skies, it was about allowing more toxins in the air, one assumes to help families that Republicans heart so much. AFP is about more money for the elite and making sure that actual plumbers and pipe fitters do not get too uppity.