election campaign

Nick Benton's Corner: Why McCain Has Nothing to Say

Securities and Exchange Commission Chief Christopher Cox alluded to $55 trillion in credit default swaps recently, at least a tip off that the problem is far greater than any $700 billion bank bailout can begin to fix.

There remains no transparency regarding how the nine banks that were partially nationalized by the U.S. Treasury last week are using those hundreds of billions of taxpayer dollars. Are they using the money to ease credit and get capital-starved American businesses going again, or are they using it to cover their insolvent leveraged obligations, instead. Who knows?

Phil Gramm and The Political Scandal Behind Today’s Soaring Oil Prices

When George Soros’ new book The New Paradigm for Financial Markets; the Credit Crisis of 2008 was released, I was eager to read it. Not only does he have a great track record as a progressive but he has been a big (and successful) player in global financial markets. I fully intended to review the book, but before beginning I decided to check out what he had to say on the runaway escalation of oil and gas prices. And in the back of my mind there was the Phil Gramm story. McCain’s chief lobbyist until very recently was a paid lobbyist for UBS, a major Swiss bank which is reportedly in serious trouble. My guess paid off. Gramm is directly responsible for the present the series of economic bubbles which now threaten to bring down the entire U.S. economy.

My first step was to check out testimony given by Soros on June 3, to an Oversight Hearing on FTC Advanced Rulemaking on Oil Market Manipulation, held by the U.S. Senate. While disclaiming expertise on oil markets, he said that he was confident that his “life-long study of bubbles,” allowed him to understand how speculators were responsible for the recent sharp rise in the oil futures market and gasoline prices. By their intervention in these markets they reinforced a prevailing trend toward higher prices. He enumerated the underlying factors pushing the market up and then discussed the role of the financial institutions in creating a bubble.

Hillary Clinton's Speech Today

I tried to find a UTube of Hillary's speech today, but couldn't yet. I hope if someone does they will add it here. I hope the those who missed hearing it on TV or perhaps being there, do listen to it on video. It was a really great speech, which sets the stage the Democratic Party and Independants like myself to work together to defeat John McCain. He is now not only vowing to prolong the Iraq war indefinitely but supporting Presidential prerogative and the use of torture in interrogating prisoners, and he has pledged to appoint judges who will reverse Women's Rights to Choice.

A 2004 Dean Campaign worker describes a Wisconsin Obama Rally

I'm not sneaking something in--she is definitely an Obama supporter. Her account is interesting because she is an older savy voter and she found the enthusiasm at the rally to be infectious. It is a rambling anecdotal account. Enjoy. My trip to Madison to see Barack Obama by Lisa Pease.

CNN Shows Fangs All INn the Name of FUN

In the category of how lo can you sink, CNN'senior political analyst, Jeanne Moos brought the campaign down a notch with an ostensibly humorous spot on the campaign, in which clips of the three front-running candidates shown speaking with arms outstretched, poiting emphatically. CNN has added photos showing who they might have been pointing to:Hillary Clinton/Monica Lewinsky, Barack Obama/Osama bin Laden, John McCain/Anne Coulter.with the superposition of the video is available here

Last Night's Obama Victories

Well, I for one was pleased to see Obama have such a sweeping victory yesterday. Perhaps its a case of the devil I don't know as opposed to the Clintons who in my opinion planted the seeds of the present policy and economic debacle. PLEASE DON'T GET ME WRONG the Democrats including of course the Clintons live in a different universe than the Bush Administration. I would vote for Bill, for Hillary. for anyone on the Democratic ticket this election. But I am voting for Obama in next Tuesday's VA primary.