Man On Fire: 08/19/14

19 Aug 2014

Senator Elizabeth Warren Versus Paul Krugman on Too Big to Fail Banks

By Pam Martens and Russ Martens: Two weeks ago, Paul Krugman used some expensive media real estate to write a propaganda piece on the unsupportable proposition that the Dodd-Frank financial reform legislation passed in 2010 is “a success story” and that its bank wind-down program known as Ordinary Liquidation Authority has put an end to “bailing out the bankers.”

Wall Street On Parade took Krugman to task over this fanciful ode to accomplishments by the President the day after his piece ran in the New York Times’ opinion pages and suggested he do proper research on this subject before opining in the future. That was the morning of August 5.
By late in the afternoon of August 5, Krugman had a reality smack-down on his Dodd-Frank success fairy tale by two Federal regulators. Every major media outlet was running with the news that eleven of the biggest banks in the country, including the mega Wall Street banks, had just had their wind-down plans (known as living wills) rejected by the Federal Reserve and FDIC for not being credible or rational. The eleven banks are: Bank of America, Bank of New York Mellon, Barclays, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan Chase, Morgan Stanley, State Street and UBS.

Saudi America - Max Keiser and Stacy Herbert with Lars Maehrholz

"Banksters reinvent themselves, ...as fracking geniuses, which have proved to be a fracking nightmare for the entire fracking world! ...They don't want the fracking truth to get out about fracking cancer risks!"

Max Keiser and Stacy Herbert ask why, if fracking is so great, is it a state secret? A UK government report looking at the economic consequences in rural Britain is so heavily redacted that none are allowed to know the third “major social impact” the fracking process may cause. They also discuss one energy analyst’s call for fracking as the ‘dotcom bubble’ of our age.

By Dante Bayona: There is a story about the great Catalan surrealist painter Salvador Dali. It is said that in the last years of his life, when he was already famous, he signed checks knowing that they would not be submitted to the bank for payment. Rather, after partying with his friends and consuming the most expensive items the restaurants had to offer, he would ask for the bill, pull out one of his checks, write the amount, and sign it. Before handing over the check, he quickly turned it around, made a drawing on the back and autographed it. Dali knew the owner of the restaurant would not cash the check but keep it,put it in a frame, and display it in the most prominent place in the restaurant: “An original Dali.”
It was a good deal for Dali: his checks never came back to the bank to be cashed, and he still enjoyed great banquets with all of his friends. Dali had a magic checkbook.
But what would have happened if one day art collectors concluded that Dali’s work really did not capture the essence of surrealism, and therefore that his art was not of great value? If that had happened, every autographed check would have come back to the bank (at least in theory), and Dali would have had to pay up. If Dali had not saved enough money, he would have had to find a job painting houses.
While the analogy is not perfect, we may find that something similar can happen with the Fed and the dollar.

Israel PM Orders Resumption Of Gaza Holocaust

541 children butchered! Apartheid Israel's Prime Minister Benjamin "Butcher Of Gaza" Netanyahu has ordered his death squads to resume airstrikes on the besieged Gaza Strip.

Zionist Orwellian UK BANNED Press TV: Renewed Israeli airstrikes hit Gaza city and Beit Lahiya in the Gaza Strip Tuesday evening ahead of the expiration of a hard-won truce at 2100 GMT.
The strikes were ordered by Netanyahu in response to alleged rocket fire from the impoverished region.
The Israeli military claims that three rockets have landed on open ground in Beersheva area, without causing casualties.
Palestinian resistance fighters have not yet made any comments.
Meanwhile, Israeli and Palestinian negotiators are engaged in indirect truce talks in Cairo.
The Palestinian side says Israel is bringing up new demands that would undermine the discussions. The Eygpt-brokered talks started last week, following a month-long Israeli war on Gaza.
At least 2,016 Palestinians, including 541 children, 250 women, 95 elderly men and a staggering 1130 men have lost their lives so far and as many as 10,196 others have been maimed in the Israeli attacks.

Circumcision: The Double Standard Of Genital Mutilation

"Feminists bath in men's tears and moisturise with boys' foreskin!"

Human male foreskin is the latest sick trend in the cosmetics world. For instance, facial cream from SkinMedica is a cream that contains boys’ foreskin. It is a product that is promoted by Oprah Winfrey.

By Joe Wilson: The debate on circumcision male genital mutilation is once again gaining attention. On August 1, on behalf of their wives, 12 men were ambushed and forced to undergo male genital mutilation without anesthesia. The men were stripped naked, smeared with mud, and paraded around the town of Moi’s Bridge in Western Kenya. Their crime? Apparently they lacked hygiene and were not sexually satisfying to their women.

Besides the barbaric nature of the attack, equally disturbing but predictable is the mainstream media’s lack of coverage of the crime. Had this been done to women … ah yes, we would have heard about it. But for males, circumcision has evolved from a cultural ritual to a routinely practiced procedure. Debate brings out strong opponents both for and against the procedure. I can understand the “against” proponents since the procedure is rooted in ancient rituals and the science behind the practice is at best quackery, but the “for circumcision” group really stumped me until I began researching.

Adam Holland Zionist Pig Taken To The Woodshed

Ry Dawson: A zionist who works for an anti-Russian rag, guess they were a little pissed when Zionist oligarchs were kicked out of Russia by Putin. Also Russia opposes arming Al Qaeda in Syria. This guy wrote a ton of bullshit about me, never bothered trying to contact me though, it was all guilt by association and lies.

Justice / Prison System Are In Crisis? - The BBC Sucks O Cocks News

"The militarisation of police is what's coming. ...a corporate police. ...G4S will be taking you to court and representing you, this is the Tyrel corporation!" The Artist Taxi Driver

Boko Haram Continues To Kill And Kidnap Men And Boys. The World Is Silent

By Lucian Vâlsan: A few days ago, Boko Haram organized another raid in the northeastern part of Nigeria, this time kidnapping 97 men and boys and killing 28 other men. Additionally, 6 older men were also killed as the raid was ending, raising the total death toll to 34.

In the words of Halima Adamu, an eye-witness describing the raid to the press. "They left no men or boys in the place; only young children, girls and women.[…] They were shouting ‘Allah Akbar’ (God is greatest), shooting sporadically. There was confusion everywhere. They started parking our men and boys into their vehicles, threatening to shoot whoever disobey[sic] them. Everybody was scared."

And what is the opinion of the rest of the world? Crickets, more crickets and total silence.