Warm Southern Breeze

"… there is no such thing as nothing."

Posts Tagged ‘USA’

To What Extent is the American Economy Propped Up by Arms Sales?

Posted by Warm Southern Breeze on Wednesday, July 16, 2014

What should one expect when the whole damn defense industry has been whored out to arm the krazees of the world?

In a very prophetic manner, in his Farewell Address to the nation, January 17, 1961, then-President Dwight David Eisenhower warned about the “military industrial complex,” saying:

“We annually spend on military security more than the net income of all United State corporations.

“This conjunction of an immense military establishment and a large arms industry is new in the American experience. The total influence-economic, political, even spiritual-is felt in every city, every state house, every office of the Federal government. We recognize the imperative need for this development. Yet we must not fail to comprehend its grave implications. Our toil, resources and livelihood are all involved; so is the very structure of our society.

“In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the military-industrial complex. The potential for the disastrous rise of misplaced power exists and will persist.

“We must never let the weight of this combination endanger our liberties or democratic processes. We should take nothing for granted only an alert and knowledgeable citizenry can compel the proper meshing of huge industrial and military machinery of defense with our peaceful methods and goals, so that security and liberty may prosper together.”

US sells $11 BILLION worth of arms to Qatar

Published time: July 15, 2014 09:46
Edited time: July 16, 2014 12:55

US Defense Secretary Chuck Hagel (L) and Qatar's Minister of State for Defense Affairs Hamad bin Ali al-Atiyah (C) arrive for a weapons sales signing ceremony at the Pentagon on July 14, 2014 in Washington, DC. (AFP Photo / Mandel Ngan)

US Defense Secretary Chuck Hagel (L) and Qatar’s Minister of State for Defense Affairs Hamad bin Ali al-Atiyah (C) arrive for a weapons sales signing ceremony at the Pentagon on July 14, 2014 in Washington, DC. (AFP Photo / Mandel Ngan)

US Defense Secretary Chuck Hagel (L) and Qatar’s Minister of State for Defense Affairs Hamad bin Ali al-Atiyah (C) arrive for a weapons sales signing ceremony at the Pentagon on July 14, 2014 in Washington, DC. (AFP Photo / Mandel Ngan)

Washington and Doha have signed the largest arms deal of the year, preparing to enhance Qatar’s military capabilities with $11 billion-worth of Apache assault helicopters, PAC-2 missile defense complexes and Javelin man-portable anti-tank missiles.

The deal has been signed on Monday in Pentagon by US Defense Secretary Chuck Hagel and Qatari Defense Minister Hamad bin Ali al-Attiyah. Altogether Qatar is buying 10 batteries of Patriot missile defense systems and 500 Javelin anti-tank missiles manufactured by US defense industry giants Raytheon and Lockheed Martin, and 24 Apache helicopters made by Boeing, an anonymous US official told the AFP.

Read the rest of this entry »

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Black Journalist Confesses: “I’ve used the n-word.”

Posted by Warm Southern Breeze on Sunday, June 30, 2013

This Op-Ed speaks volumes.

Read on.

Confession of a black journalist: Like Paula Deen, I’ve used the n-word (Opinion from Anthony Cook)

Anthony Cook, Huntsville Times Community News Director

Anthony Cook, Huntsville Times Community News Director

By Anthony Cook | ACook@al.com
Follow on Twitter
on June 25, 2013 at 8:18 AM, updated June 25, 2013 at 12:57 PM

When I first heard about the dust-up over food mogul Paula Deen saying the n-word, my first reaction was “Um … OK.”I considered it just that – a dust-up. Big deal.But when it was reported that her extremely popular cooking show was being dropped from the Food Network, my thoughts changed to: “This is a big deal.”I’m guilty of spending the occasional Saturday morning in front of the tube with my wife, watching Paula whip up some Southern comfort food.When I heard she’d used the n-word at some point in her life, I wondered how I’d view her the next time she was on TV, concocting something you could almost taste through the screen and telling us “This is so good, y’all.”

But, apparently that’s not gonna happen. Not only has Food Network dropped her show, but Smithfield Foods has dropped her as a spokeswoman, and QVC and Walmart are considering doing the same.

This writing isn’t a defense of Paula Deen. She’s a big girl. She can take care of herself. And those businesses that are dropping association with her are just that – businesses. They have to consider the bottom line, which can be greatly affected by blows to their image. They essentially have been left with no choice.

I began to see the hypocrisy of expecting white people to adhere to a standard that I was not upholding myself.

As a black man, this writing is my attempt to point out Read the rest of this entry »

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Suicide, Libertarianism, and Religion -or- Why “No man is an island.”

Posted by Warm Southern Breeze on Monday, April 15, 2013

FACT:
Las Vegas has the highest metropolitan suicide rate in the U.S.

“I’ll add that there’s one more feature here, of Las Vegas, which I think bears mentioning. And that is what I kinda’ think of as a sort of “frontier culture” mentality among residents, and I think, even among visitors.

“That Las Vegas is this sort of place of place of total license. You know… its the ‘Wild West,’ it’s an open frontier for all kinds of immorality and exploration of vice, and… the entire self-branding of Las Vegas as this place where that is not only tolerated, but actually sanctioned.

“You know, the “What happens in Vegas stays in Vegas” kind of mentality – produces, I think, a kind of… sort of libertarian ethos of ‘go it alone, do it yourself.’ And help seeking in this sort of framework is perhaps not accepted or valorized the way it is other parts of the country.

“These kind of cultural arguments are always very hard to make. They always sound deeply unscientific. But, in a lot ways, I think that’s exactly where a lot of the explanatory power comes from… is in this understanding the culture and values underlying people’s behavioral sense.”

Matt Wray, sociologist, Temple University, Philadelphia, PA, and co-author of a 2008 paper entitled Leaving Las Vegas: Exposure to Las Vegas and Risk of Suicide” / excerpted from Freakonomics Radio, episode #92 “Gambling With Your Life,” released April 27, 2011

Of late, attention has been increasingly given to the suicide rate of veterans returning home from the horrors of war in the Middle East, specifically, from their numerous extended tours of duty in Iraq and Afghanistan.

While in retrospect, many acknowledge that Read the rest of this entry »

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Research: WalMart’s Low Wages Burden Taxpayers

Posted by Warm Southern Breeze on Friday, November 23, 2012

The high cost of low living…

“Walmart’s employees receive $2.66 billion in government help every year, or about $420,000 per store.
They are also the top recipients of Medicaid in numerous states.
Why does this occur?
Walmart fails to provide a livable wage and decent healthcare benefits, costing U.S. taxpayers an annual average of $1.02 billion in healthcare costs.

This direct public subsidy is being given to offset the failures of an international corporate giant who shouldn’t be shifting part of its labor costs onto the American taxpayers.”

You’re the life of the party, everybody’s host
Still you need somewhere you can hide
All your good time friends
And your farewell to has-beens
Lord knows, just along for the ride

You think you’re a survivor
But boy, you better think twice
No one rides for nothin’
So, step up and pay the price

Dedicated to the GOP & other radical TEApublicans who worship the “almighty” dollar, tax cuts for the über wealthy, and their multinational corporate prophets.


Hidden Taxpayer Costs

Disclosures of Employers Whose Workers and Their Dependents are Using State Health Insurance Programs

Updated January 18, 2012

Since the mid-20th Century, most Americans have obtained health insurance through workplace-based coverage. In recent years there has been a decline in such coverage caused by a rise in the number of jobs that do not provide coverage at all and growth in the number of workers who decline coverage because it is too expensive.

Faced with the unavailability or unaffordability of health coverage on the job, growing numbers of lower-income workers are turning to taxpayer-funded healthcare programs such as Medicaid and the State Children’s Health Insurance Program (SCHIP).

This trend is putting an added burden on programs that are already under stress because of fiscal constraints caused by medical inflation and federal cutbacks. Many states are curtailing benefits and tightening eligibility requirements.

It also raises the issue of whether states are being put in a position of subsidizing the cost-cutting measures of private sector employers.

Across the country, policymakers and others concerned about the healthcare system are pressing for disclosure of information on those employers whose workers (and their dependents) end up in taxpayer-funded programs.

The following is a summary of the employer disclosure that has come to light so far. It includes two cases (Massachusetts and Missouri) in which the information was produced as a result of legislation. The other cases involved requests by legislators or reporters. The latter situations have sometimes resulted in data that are incomplete or imprecise, which suggests that only legislatively mandated, systematic disclosure will tell the whole story.

This compilation was originally produced by Good Jobs First as part of its preparation of testimony given before the Maryland legislature on an employer disclosure bill. A version of that testimony can be found here [1].

Alabama
In April 2005 the Mobile Register published an article citing data from the Alabama Medicaid Agency on companies in the state with employees whose children are participating in Medicaid. The newspaper obtained a list from the agency of 63 companies whose employees had 100 or more children in the program as of mid-March 2005. At the top of the list was Wal-Mart, whose employees had 4,700 children in the program. Following it were McDonald’s (1,931), Hardee’s (884) and Burger King (861). The data were similar to information obtained from the same agency by the Montgomery Advertiser two months earlier.

Sources: Sean Reilly, “Medicaid Providing Health Care for Kids of Working Families,” Mobile Register, April 17, 2005 and John Davis and Jannell McGrew, “Health Plans Not Family Friendly,” Montgomery Advertiser, February 22, 2005, p.B6.

Arizona
In July 2005 the state Department of Economic Security issued data on the largest private employers with workers receiving taxpayer-financed medical insurance through the Arizona Health Care Cost Containment System. At the top of the list was Wal-Mart, with about 2,700 workers–or 9.6 percent of its Arizona workforce–participating in the program. It was followed by Read the rest of this entry »

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North Dakota oil output at new high in August

Posted by Warm Southern Breeze on Thursday, October 11, 2012

North Dakota oil output at new high in August: regulator

NEW YORK | Wed Oct 10, 2012 5:43pm EDT

NEW YORK (Reuters) – Oil production in North Dakota accelerated in August, jumping by 3.6 percent from July levels to top the 700,000 barrel-per-day mark for the first time in the state’s history, data from the state Industrial Commission showed on Wednesday.

The state’s August oil output rose by nearly 25,000 barrels-per-day from the previous month and hit just above 701,000 bpd, fast approaching volumes from OPEC-member Qatar, which produced 770,000 bpd in August.

Most of this was from Read the rest of this entry »

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Economic Research: The Dismal Science finds poverty & inequality greater in U.S.

Posted by Warm Southern Breeze on Thursday, October 4, 2012

Poverty, inequality and redistribution

Focus

Jan 17th 2012, 20:27 by The Economist online

Poverty inequality & redistribution 20120121_WOC400 Governments can reduce poverty and inequality through taxes and cash transfers. Successful programmes such as Progresa-Oportunidades in Mexico and Bolsa Família in Brazil have helped reduce poverty and inequality in the last couple of decades, but compared with rich countries, Latin American countries still fall short. According to a new report by the OECD, a club of mostly rich countries, Chile is Read the rest of this entry »

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Taxpayers’ $182B TARP bailout of AIG Now Fully Recovered

Posted by Warm Southern Breeze on Tuesday, September 11, 2012

As the president and others – nonpartisan and partisan alike – have noted, BIG BUSINESS should NOT need a bailout. They should be operated in such a manner as to allow the Free Market to decide how, to what extent, and if they prosper. As part of that process, ironclad and strong regulation to prevent fraud and abuse should be vigorously enforced. And chief executives Read the rest of this entry »

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Huntsville Judge Donna Pate Sentences Daniel Ray Proctor to TWO Life Sentences on Theft

Posted by Warm Southern Breeze on Tuesday, August 21, 2012

Alabama‘s prison system will again be pushed to the taxpayers’ breaking point by stupidity such as this sentence. It is extreme – even with the increased severity of punishment required for habitual offenders.

This is the so-called “Three Strikes and you’re out” law in action.

Realistically, “Three Strikes and you’re out” only applies in baseball games. But someone thought it sounded cool, and morphed it into a law in California. Subsequently, California’s prison population has exploded because that state adopted that law. They’ve now seriously modified it. It may be time to rethink sentencing guidelines in Alabama. But the likelihood of that happening is practically negligible.

Thanks to our legislature, this man will now burden every honest Alabama taxpayer.

That’s not to say he and others like him should not be punished, but rather acknowledges the failure of a pop-culture-driven bumper sticker slogan to effectively remedy, ameliorate or mitigate criminality. In essence, there is little or nothing done to correct, and much done to punish. Oddly, every state has a “Department of Corrections,” rather than a ‘Department of Punishments.’ There’s a reason for that, and it’s because there is a two-fold purpose (to punish and correct), with the higher one being correction.

Yet standing in stark contrast is the as-yet-untried, and officially indefinitely delayed case of Amy Bishop, the Harvard PhD-educated biology professor who went on a shooting rampage and killed three, and wounded three other colleagues at the University of Alabama in Huntsville (UAH). Even though she has a track record of mental instability, Read the rest of this entry »

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A Retrospective: Bush & the GOP’s Promises VS Reality

Posted by Warm Southern Breeze on Sunday, August 19, 2012

Does anyone remember this?

Nope. Probably not. That’s why it’s being posted here… to remind us all.

In the first Presidential Debate in 2000 with Vice President Al Gore, Jr. and former Texas governor & GOP candidate George W. Bush, the forum included questions on the topics of budget & economy, governmental reform, healthcare, Social Security, tax reform, education, energy & oil, foreign policy, homeland security, war & peace, and abortion.

As you read the responses below, consider how Read the rest of this entry »

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“Gone With the Wind” heir leaves estate & 50% trademark share to Church

Posted by Warm Southern Breeze on Friday, August 17, 2012

Apropos for the item is another famously Southern line by the Allman Brothers Band:
“You can’t take it with you, everybody knows. You can’t take it with you when you go.”

Can’t Take It With You
BMI work #177287
By Richard Forrest “Dicky” Betts- BMI – 56772062
Don Johnson – NA – 0
EMI BLACKWOOD MUSIC INC – BMI – 223437493
PANGOLA PUBLISHING

Mitchell Heir Leaves Estate To Archdiocese

GRETCHEN KEISER, Staff Writer

Published: August 16, 2012

ATLANTA—The Archdiocese of Atlanta has received a substantial gift from the estate of Margaret Mitchell’s nephew, Joseph, including a 50 percent share of the trademark and literary rights to “Gone With the Wind.”

The estate of Joseph Mitchell included a multi-million dollar bequest to the archdiocese and the donation of his home on Habersham Road in Atlanta.

One of two sons of Margaret Mitchell’s brother, Stephens, Joseph Mitchell died in October 2011. He was a member of the Cathedral of Christ the King and asked that, if possible, Read the rest of this entry »

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Mitt Romney chooses Paul Ryan as running mate; Damage Control begins

Posted by Warm Southern Breeze on Saturday, August 11, 2012

Paul Ryan, ‘Brown Noser’? The Wikipedia Edit Wars Begin for Romney’s Running Mate

By Megan Garber

Aug 11 2012, 9:13 AM ET

Now that his candidacy is official, Paul Ryan’s Wikipedia page will become a battle ground.

Paul Ryan voted biggest HS Brown-Noser

Paul Ryan’s classmates vote him “Biggest ‘Brown-Noser.'” pic.twitter.com/P2DrIncJ Photo via Twitter via @ryanlizza – Washington Correspondent for The New Yorker, Contributor for CNN

In high school, Paul Ryan’s classmates voted him as his class’s “biggest ‘brown noser.'” This little tidbit is a source of delight for political opponents of the Wisconsin representative-turned-Romney-running mate; to his supporters, in general, it’s an irrelevant piece of youthful trivia.

But it’s also a tension that will play out, repeatedly, in the most comprehensive narrative we have about Paul Ryan as a person and a politician and a policy-maker: his Wikipedia page. Late last night, Politico reports — just as news of the Ryan choice leaked in the political press — the first substantial edit to that page removed an extant “brown noser” mention:

removing prom king and brown noser from article –see discussion on “talk” page

But then another user put the “brown noser” mention back in. Because: relevant!

And then another user removed it again, explaining:

Removed unnecessary statement from Early Life about … “Brown Noser.” This is not needed in article is not common in such brief survey sections.

As of this writing, “brown noser” stands. As does a maybe-mitigating piece of Ryan-as-high-schooler trivia: that he was also voted prom king. But that equilibrium could change, again, in an instant.

Now that Ryan’s confirmed, Read the rest of this entry »

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How to End This Depression

Posted by Warm Southern Breeze on Sunday, July 29, 2012

It’s been said that ‘everything should be made as simple as possible, but not simpler.’

The distinguished Dr. Krugman – who accurately foretold in 2001 that the “Bush Tax Cuts” would create significant deficit (and they did) – understands the role of government in providing opportunity for entrepreneurs and private enterprise, and the equally important role that government has in responsibility to protect public health and safety.

The long and short of it is this: Government spending on economic infrastructure (including education) is a good investment because it yields significant immediate and long-term results.

Why?

Because Materials and Manpower ALWAYS come from the private sector.

Regular readers of this blog will be familiar with the aforementioned premise, and the numerous times about which I have written in detail about the same. This entry illustrates with three excellent examples of that principle.

Naysayers and critics miss one very important factor in their analogy, which is that the Federal government has the power and authority to print money. The way that factor relates to the issue at hand is this: While the government could – in theory, and in reality – print enough money to give $10,000 to every man, woman and child in this nation the net effect of so doing would be to devalue the money, which would be resulting from inflation.

How to correct, resolve or work within the guidelines of that factor is to understand that one very important role of government is to provide OPPORTUNITY for entrepreneurs and private enterprise. By providing opportunity, government is also encouraging private enterprise and entrepreneurship. And, for the strict Constitutionalists, courts have continued to uphold and acknowledge that such power is contained within the Preamble’s clause “to promote the general welfare.”

Further, for the “anti-Big Government” naysayers, it is preposterous (contrary to reason or common sense; utterly absurd or ridiculous) to imagine that, in this era, with every technological advance, invention and discovery which has been made since 1776, and with our population (now approaching 312,000,000), that we would have fewer laws, rules and regulations than when we first began.

And, for those who say we should balance our budget, I would agree. However, I hasten to point out, that the last time that was done was under Eisenhower and LBJ. That does not excuse us from an ongoing civil discussion and debate about how to effectively manage our nation’s budget. Perhaps a formula of some type which would take into account GDP, debt (outstanding Treasury notes), trade deficit, population growth, birth rate, and other factors – with an “escape” mechanism for times of civil emergency or war, of course.

For such, we need technocrats – experts in areas of operations – rather than bureaucrats. Perhaps in an advisory role. But then again, we have those.

So… why don’t we work together as we ought?

Politics.

It seems that “Everybody’s got something to hide except for me and my monkey.”

How to End This Depression

May 24, 2012

Paul Krugman

The depression we’re in is essentially gratuitous: we don’t need to be suffering so much pain and destroying so many lives. We could end it both more easily and more quickly than anyone imagines—anyone, that is, except those who have actually studied the economics of depressed economies and the historical evidence on how policies work in such economies.
Obama in Master Lock factory Milwaukee

President Obama on a tour of the Master Lockfactory in Milwaukee with the company’s senior vice-president, Bon Rice, February 2012; Susan Walsh/AP Images

The truth is that recovery would be almost ridiculously easy to achieve: all we need is to reverse the austerity policies of the past couple of years and temporarily boost spending. Never mind all the talk of how we have a long-run problem that can’t have a short-run solution—this may sound sophisticated, but it isn’t. With a boost in spending, we could be back to more or less full employment faster than anyone imagines.

But don’t we have to worry about long-run budget deficits? Keynes wrote that “the boom, not the slump, is the time for austerity.” Now, as I argue in my forthcoming book*—and show later in the data discussed in this article—is the time for the government to spend more until the private sector is ready to carry the economy forward again. At that point, the US would be in a far better position to deal with deficits, entitlements, and the costs of financing them.

Meanwhile, the strong measures that would all go a long way toward lifting us out of this depression should include, among other policies, increased federal aid to state and local governments, which would restore the jobs of many public employees; a more aggressive approach by the Federal Reserve to quantitative easing (that is, purchasing bonds in an attempt to reduce long-term interest rates); and less timid efforts by the Obama administration to reduce homeowner debt.

But some readers will wonder, isn’t a recovery program along the lines I’ve described just out of the question as a political matter? And isn’t advocating such a program a waste of time? My answers to these two questions are: not necessarily, and definitely not. The chances of a real turn in policy, away from the austerity mania of the last few years and toward a renewed focus on job creation, are much better than conventional wisdom would have you believe. And recent experience also teaches us a crucial political lesson: Read the rest of this entry »

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Support Schools & Private Enterprise, Drink Jack Daniel’s Old No. 7 Whiskey

Posted by Warm Southern Breeze on Monday, July 9, 2012

Having apparently not blogged about this, I find myself remiss that I so negligently – if inadvertently – omitted this news story… which I’m about to bash.

Before I proceed however, Alabama‘s governor, Dr. Robert J. Bentley, MD (a retired dermatologist), when he was campaigning for the office, on Thursday, June 17, 2010 vowed that, “I will forgo a salary as state representative for the rest of my term and will not accept a salary as Governor until Alabama reaches full employment.” To his credit, he has lived up to that vow, and has only accepted what is legally mandated – $1.00/month as representative, and has been reimbursed for minimal incidentals or travel-related expenses. The state’s records show he has collected about $2,100 in travel reimbursements during his term as governor. Alabama’s governor’s salary is about $112,000; and so far, as governor, he has only been paid $2 in salary.

Part of the irony of liquor, taxes and employment is that Dr. Bentley is a Southern Baptist. And for many years he has been a deacon at First Baptist Church in Tuscaloosa. As a denomination, Baptists are well-known and avowed tee-totalers, who continue to badmouth beverage alcohol. I suppose in some way, they could be considered modern Prohibitionists. But here, in this scenario, Alabamians – whose population is significantly Protestant – have enjoyed the jobs and money that making whiskey provides.

I suppose, however, that the irony is not lost on others, for the Amish grow tobacco, yet eschew its use. Similarly, many religious Afghanis (most who practice Islam) have grown marijuana and/or opium poppy to provide for their households, yet use neither. The discussion of the ethics of such decisions would be fascinating – at least it would be to me.

Now, on to the news.

It’s not the news, per se, but the atrocious writing which aggrieves me so.

Actually, the plant will be near Decatur, Alabama. More specifically, it will be located in the Mallard Fox West Industrial Complex, along Alabama Highway 20 in Trinity, Alabama. The complex is located in Lawrence County, which is the adjacent county WEST of Morgan County.

Lawrence County, AL_overview

Location of Mallard Fox West Industrial Complex in Lawrence, County, Alabama

But this raises another question, and it is this: If someone wrote that New York was in Los Angeles, you’d think them insane, right?

Well, why then would you not think the same for those who make such egregious errors as is so blatantly displayed in the following headline, and story?

DAMN IT, MAN!

GET IT RIGHT!

And Read the rest of this entry »

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JPMorgan Chase CEO blames “Errors, Sloppiness & Bad Judgement” for $2B Credit Default Swap & Derivatives loss

Posted by Warm Southern Breeze on Thursday, May 10, 2012

Give particular attention to this sentence, which is found later in the article: “Bank executives, including Dimon, have argued for weaker rules and broader exemptions.”

Give attention also to the last paragraph of the second story: “Of course, this loss only goes to show how weak the Volcker Rule is: Dimon is adamant, and probably correct, in saying that Iksil’s bets were Volcker-compliant, despite the fact that they clearly violate the spirit of the rule. Now that we’ve entered election season, Congress isn’t going to step in to tighten things up — but maybe the SEC will pay more attention to Occupy’s letter, now. JP Morgan more or less invented risk management. If they can’t do it, no bank can. And no sensible regulator can ever trust the banks to self-regulate.”

Is there any remaining argument against deregulating banks?

Is there any remaining argument against re-instituting the Glass-Steagall Act (which separated Banks, Insurance & Wall Street and forbade them from commingling in each others’ businesses)?

Ahead of the Greek financial crisis – in which Goldman Sachs had a direct and unscrupulous role by hiding sales of financial vehicles from Greek, European & American regulators – German chancellor Angela Merkel said this at a March 5, 2010 press conference in Berlin with Greek Prime Minister George Papandreou, (ref: http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a26n.U6qS6cU):

Credit-default swaps, where you insure your neighbor’s house just to destroy it and make money from it, that’s exactly what we have to curb.”  

Now, I wouldn’t expect you or the average reader to be knowledgeable about these things. Honestly, most folks aren’t. But that’s not a condemnation of you, dear reader. Rather, it is a statement acknowledging that banks, bankers, Wall Street types, and Insurance firms do not want to be regulated, and would rather operate free-willy-nilly – without any rules. You and I must  abide by rules. Why shouldn’t they? And as they have consistently demonstrated, they cannot be trusted to do the right thing.

For additional information on Goldman Sachs involvement in the Greek Debt Crisis, I refer you to this 02/08/2010 news item from German news magazine, Der Spiegel: “Greek Debt Crisis How Goldman Sachs Helped Greece to Mask its True Debt,” By Beat Balzli.

JPMorgan Chase acknowledges $2 billion trading loss and ‘many errors’

By Associated Press, Updated: Thursday, May 10, 6:05 PM

JPMorgan Chase, the largest bank in the United States, said Thursday that it lost $2 billion in the past six weeks in a trading portfolio designed to hedge against risks the company takes with its own money.

The company’s stock plunged almost 7 percent in after-hours trading after the loss was announced. Other bank stocks, including Citigroup and Bank of America, suffered heavy losses as well.

“The portfolio has proved to be riskier, more volatile and less effective as an economic hedge than we thought,” CEO Jamie Dimon told reporters. “There were many errors, sloppiness and bad judgment.”

The trading loss is an embarrassment for a bank that came through the 2008 financial crisis in much better health than its peers. It kept clear of risky investments that hurt many other banks.

The loss came in a portfolio of the complex financial instruments known as derivatives, and in a division of JPMorgan designed to help control its exposure to risk in the financial markets and invest excess money in its corporate treasury.

Bloomberg News reported in April that Read the rest of this entry »

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Pure Joy

Posted by Warm Southern Breeze on Thursday, July 28, 2011

A few weeks back, I enjoyed an outing with a neighbor, and we later returned to make s’mores.
Honestly, the chocolately, marshmallow, graham cracker cookie treat is a fairly new thing for me, having discovered them less than a year ago, when they were introduced to me by another friend who was ecstatically telling me about how delicious they were.
Not being a big fan of marshmallows – I genuinely don‘t like them in any form – I reluctantly tried them.
Okay… no big whoop.
I still don’t like s’mores.
BUT!
This young lady obviously does!
Isn’t she the cutest?!?
Pure Joy

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BMW Tapped $3.6 Billion in Federal Reserve Funds During Financial Crisis

Posted by Warm Southern Breeze on Friday, December 3, 2010

BMW Head Quarters in Munich Germany.

BMW Headquarters, Munich, Germany - Image via Wikipedia

Bayerische Motoren Werke AG, the world’s largest maker of luxury cars, secured funds from the U.S. Federal Reserve during the financial crisis to boost liquidity as other sources dried up.

BMW’s largest transaction under the Fed’s Commercial Paper Funding Facility was for $3.62 billion on Jan. 30, 2009, according to data released yesterday. BMW made “intermittent” use of the Fed program for refinancing at a time when other forms of credit were frozen, Mathias Schmidt, a spokesman for the Munich-based automaker, said today.

“We tapped into this program in 2008 and 2009 during the financial crisis …Continue…

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Them’s FIGHTIN’ words! – Audio Post

Posted by Warm Southern Breeze on Friday, August 6, 2010

Sometimes, you REALLY just have to wonder!

I wonder… was it an intersextion or intersection?

It was OUT there, to be certain.

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Half kilo of coffee

Posted by Warm Southern Breeze on Tuesday, August 3, 2010

Ever notice how most coffee sold in the USA is 12 ounce size? This is marketed and sold in Germany.

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Good night, sleep tight; have pleasant dreams tonight.

Posted by Warm Southern Breeze on Saturday, July 31, 2010

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Hey! Who ate my cheese?!?

Posted by Warm Southern Breeze on Friday, July 23, 2010

Breakfast of Champions with the King

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Murfreesboro, TN Civic Plaza

Posted by Warm Southern Breeze on Thursday, July 22, 2010

Also doubles as ampitheater

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Katydid, Katydead

Posted by Warm Southern Breeze on Thursday, July 1, 2010

It’s a dead bug.

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Eye of Round roast, vegetables

Posted by Warm Southern Breeze on Sunday, June 27, 2010

Served up. Everything was just fine! Vegetables had texture, and the meat was able to be pulled apart.

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Hamburgers and bread

Posted by Warm Southern Breeze on Saturday, June 26, 2010

Breakfast… for what it’s worth.

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God’s Gift to Your Morning

Posted by Warm Southern Breeze on Saturday, June 12, 2010

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I figured if I waited long enough, fortune would turn in my favor

Posted by Warm Southern Breeze on Friday, June 4, 2010

Remember the other pic?

Sunrise in Alabama

I travelled to Murfreesboro, TN that morning for a 9AM appointment.

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Allahu Akbar! Terrorism Works! South Park Infidels stopped from mocking Muhammed.

Posted by Warm Southern Breeze on Saturday, April 24, 2010

Thank you, Islamist extremists, for demonstrating that freedom isn’t free.

If there’s one thing you can’t tolerate, it’s tolerance.

I don’t watch South Park. On rare occasion, while “channel surfing,” I’ve passed through it, stopping only briefly. What I’ve seen has never impressed me.

Sure, there are folks whom enjoy the program, but I’m not one, and I never have been.

Most recently however, it has come to the attention of the people of the United States of America – sometimes also known as “the Great Satan” by Islamist extremists – and throughout the world, that some Muslims will kill you… if they don’t like what you say.

What a shame. What a damn, crying shame.

Before I continue, let me say this: …Continue…

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Wachovia Bank Guilty of Mexican Drug Money Laundering

Posted by Warm Southern Breeze on Thursday, March 18, 2010

For a root of all the evils is the love of money, which certain longing for did go astray from the faith, and themselves did pierce through with many sorrows.” 1 Timothy 6:10 (YLT)

Wachovia Bank officials in Miami plead guilty to federal drug money laundering charges in Miami. As part of their agreement, the bank will forfeit $110,000,000 ($110 Million) and be fined $50,000,000 ($50 Million).

Federal prosecutors with the U.S. Attorney General’s Office, and Drug Enforcement Administration officials found detailed evidence supporting …Continue…

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