Drudge Retort: The Other Side of the News

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Monday, March 05, 2018

Thousands of public school teachers across West Virginia have been on strike for more than a week in protest over their pay and benefits. And despite striking a deal with Governor Jim Justice last Wednesday that would put 277,000 students affected back in school, teachers still won't return to work on Monday as the state's Senate has rejected the agreement. The strike began on Thursday, February 22, the day after Governor Justice, a Republican, signed legislation providing teachers, school service personnel, and state police with a 2% salary increase starting in July and scheduling a 1% pay hike for teachers in 2020 and 2021. Teachers' unions said the raises wouldn't cover cost-of-living increases or address concerns related to public employee insurance programs, health care costs, and payroll tax deduction options. Thousands of teachers, parents, and supporters descended on West Virginia's Capitol in Charleston in protest. read more

Saturday, March 03, 2018

Trump Treasury Secretary and former Goldman Sachs banker Steve Mnuchin isn't accustomed to facing direct challenges to his wild economic claims or protests over the GOP tax plan he helped craft, and after experiencing both during an event at UCLA's Burkle Center on Monday, Mnuchin demanded that video of his appearance be suppressed. "Steve Mnuchin being called on his plutocratic BS at UCLA. Enemy of the people! Foreclosed on 36,000 people and helped pass the biggest corporate tax cut in history." Jacob Woocher, UCLA student. According to the Wall Street Journal, Mnuchin complained to the audience that he usually only talks to "people who wanna listen to me speak" after students and others attending the event yelled out "I think you're full of ---" and denounced the Republican tax bill as an attack on "people who are in poverty." read more

Thursday, March 01, 2018

Emma Gonzales calls out Trump's BS. No more guns in schools. read more

Wednesday, February 28, 2018

Florida Senator Marco Rubio promotes regime change in Venezuela, "if they decide to protect the people & restore democracy by removing a dictator." Venezuela jut happens to have the largest oil reserves of any country on the planet. But the Organization of American States has been negotiating for two years, with representatives of Venezuela's government and right-wing opposition parties, meeting in the Dominican Republic, and had reached an agreement. It called for "rejection of foreign intervention," electoral guarantees, common defense against economic sanctions, an "end of economic warfare", and a date for the upcoming presidential election. Then Julio Borges (representing the opposition right wing) was ordered to call off the agreement by Tillerson. Polling data gives President Maduro a 55% advantage, so there must not be another election. read more

Friday, February 23, 2018

Russia has 15 foreign military bases. 11 are located in former Wasaw Pact land, after the U.S.S.R. was dissolved. The United States has about 800 foreign military bases in about 70 countries; and many encircling Russian in the countries now liberated from the former U.S.S.R. From the Russian perspective, Hillary Clinton as US president was most likely to start covert and overt military actions against Russian interests, a.k.a. war with Syria. That same Russian estimation of potential American foreign policies under either a President Donald Trump or President Bernie Sanders would rate the likelihood of anti-Russian (and anti-Syrian) warlike activity by the U.S. as significantly lower. So, naturally they would prefer Trump or Bernie as the US president after 2016. read more



That's some mighty and some feeble white washing going on. Glass-Steagal separated commercial banks and investment banks. Commercial Banks accept public deposits, are required to maintain strict capital and lending requirements and insured under the FDIC system. Investment Banks use their own money and are not bound by the same regulations as commercial banks, do not take public deposits, are not FDIC insured and are free to take risks with their own money.

WAMU and Countrywide engaged in mortgage fraud. Investment Banks engaged in securities fraud,(ie peddling toxic assets as AAA Bonds). They never paid a penny into the FDIC insurance system created during the great depression, yet were suddenly declared to be under the same FDIC system as commercial banks when the toxic assets began failing and no one would buy anymore, leaving the investment banks holding the bag. The Fed bought those assets during the bailout, QE1, 2 &3 totaling ~$22.5 trillion. Later only the fraudsters were permitted to buyback many of those assets for 5 cents on the dollar.

So while your quotes are technically correct they obscure or misconstrue the crimes in an effort to make the public not feel so bad about being screwed again. This tact was rationalized by arguing that the criminal Banks are so vital to the nations economic health that saving them was necessary. This is a false assertion for two reasons. There is no need for the Government to ever borrow from the private sector. Money is just an IOU anyway and the Government can borrow as much as it needs from itself. Powerful money lenders don't want anyone to know this. Secondly the underwater Banks should have been nationalized, like GM, instead of their criminal managers declaring profits after being bailed out by the public, which then led to massive bonuses to those managers for their criminal activities.

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