Sen. Lieberman Says U.S. Must Cut Social Security To Pay For Wars & Offensive Military Action - Vote Him Out!
Video - Lieberman on the Senate floor - Aug. 2, 2011
The Senate's leading shill for useless war does not hide his extreme prejudice yesterday as he discusses budget priorities.
It's a pretty decent new read from NY Mag's Jessica Pressler, albeit with an anti-Taibbi slant and a decidedly pro-Lloyd flavor. What Pressler misses, or in some cases glosses over, are the details of Goldman's control over Washington via an endless stream of Government Sachs Squid turned Treasury policy makers, from Dan Jester to Neel Kashkari, Henry Paulson and a dozen more. She also neglects to recount how Goldman drove AIG into bankruptcy and then demanded a bailout (see Tavakoli's Arsonists With Fire Insurance), or how Goldman acolyte Jester purposely sabotaged AIG's plea for leniency from the ratings agencies after having followed Paulson there from 85 Broad Street, or how Paulson installed former Goldman executive Ed Liddy as CEO of AIG in order to facilitate a counterparty payout at 100 cents on the dollar for Goldman and its clients, and finally how Goldman execs lied to Congress with the claim that Goldman did not receive ANY of the AIG counterparty payments, when in fact it leaked a few months later that more than $3 billion went straight to the Squid.
That said, you might enjoy reading Pressler's piece for a look inside Lloyd's now 'constantly unquiet mind.'
David Walker On The Debt Deal: "U.S. Is 3 Years Away From Being Greece, Congress Dealt With $2T Of A $61T Problem"
CNBC Video - David Walker With Joe Kernen On Squawk Box - Aug. 2, 2011
Video - Max & Stacy On Apple's Cash And Overseas Jobs - Aug. 2, 2011
A slightly different take on the bounty of Apple's balance sheet. A related story (somewhat) from Yves Smith today:
Dylan Ratigan On The Grand Political Delusion: "Wake Up America! Both Parties Are The SAME! Six Industries Control Everything! It's Time For Independents To Rise!"
Video - Dylan Ratigan On Independent's Day - July 4, 2011
Watch at least the first few minutes of this clip. The intro is outstanding.
New report from The Onion released last week. This is pretty funny.
The new law will remove restrictions on cigarettes, drugs, and alcohol as well as provide tax incentives for seniors who bungee jump and skydive.
Then click on any individual CDS price.
Monday evening I discussed the derivatives nightmare scenario in which the U.S. is downgraded and a default event occurs leading to payouts on U.S. CDS which could run into the hundreds of billions, given the trillions in Treasuries hedged by institutions.