The Legacy of Ronald Reagan….

This is interesting stuff. I already knew that Reagan was one of the worst Presidents that we’ve had. Here’s a new book that details his policies and actions:

The Man Who Sold the World

Ronald Reagan and the Betrayal of Main Street America

by William Kleinknecht

The myth of Ronald Reagan’s greatness has reached epic proportions. The public rates him as one of the most popular presidents, and Republicans everywhere seek to cast themselves in his image. But award-winning journalist William Kleinknecht shows in this penetrating analysis of his presidency that the Reagan legacy has been devastating for the country—especially for the ordinary Americans he claimed to represent.

So much that has gone wrong in America—including the subprime mortgage crisis and the meltdown of the financial sector—can be traced directly to Reagan’s policies. The financial deregulation launched in the 1980s freed banks and securities firms to squander hundreds of billions of dollars and make a shambles of the economy. Boom-and-bust cycles, obscene CEO salaries, blackouts, drug-company scandals, collapsing bridges, plummeting wages for working people, the flight of U.S. manufacturing abroad—these are all products of Reagan’s free-market zealotry and his gutting of the public sector. Reagan pioneered the use of wedge issues like race and the war on drugs to distract America while his administration empowered corporations to lay waste to our traditional ways of life.
read more here

Senate to Middle Class – “Drop Dead”

Senate to Middle Class: Drop Dead
From Michael Moore

Friday, December 12th, 2008

Friends,

They could have given the loan on the condition that the automakers start building only cars and mass transit that reduce our dependency on oil.

They could have given the loan on the condition that the automakers build cars that reduce global warming.

They could have given the loan on the condition that the automakers withdraw their many lawsuits against state governments in their attempts to not comply with our environmental laws.

They could have given the loan on the condition that the management team which drove these once-great manufacturers into the ground resign and be replaced with a team who understands the transportation needs of the 21st century.

Yes, they could have given the loan for any of these reasons because, in the end, to lose our manufacturing infrastructure and throw 3 million people out of work would be a catastrophe.

But instead, the Senate said, we’ll give you the loan only if the factory workers take a $20 an hour cut in wages, pension and health care. That’s right. After giving BILLIONS to Wall Street hucksters and criminal investment bankers — billions with no strings attached and, as we have since learned, no oversight whatsoever — the Senate decided it is more important to break a union, more important to throw middle class wage earners into the ranks of the working poor than to prevent the total collapse of industrial America.

We have a little more than a month to go of this madness. As I sit here in Michigan today, tens of thousands of hard working, honest, decent Americans do not believe they can make it to January 20th. The malaise here is astounding. Why must they suffer because of the mistakes of every CEO from Roger Smith to Rick Wagoner? Make management and the boards of directors and the shareholders pay for this.

Of course that is heresy to the 31 Republicans who decided to blame the poor, miserable autoworkers for this mess. And our wonderful media complied with their spin on the morning news shows: “UAW Refuses to Give Concessions Killing Auto Bailout Bill.” In fact the UAW has given concession after concession, reduced their benefits, agreed to get rid of the Jobs Bank and agreed to make it harder for their retirees to live from week to week. Yes! That’s what we need to do! It’s the Jobs Bank and the old people who have led the nation to economic ruin!

But even doing all that wasn’t enough to satisfy the bastard Republicans. These Senate vampires wanted blood. Blue collar blood. You see, they weren’t opposed to the bailout because they believed in the free market or capitalism. No, they were opposed to the bailout because they’re opposed to workers making a decent wage. In their rage, they were driven to destroy the backbone of this country, not because the UAW hadn’t given back enough, but because the UAW hadn’t given up.

It appears that the sitting President has been looking for a way to end his reign by one magnanimous act, just like a warlord on his feast day. He will put his finger in the dyke, and the fragile mess of an auto industry will eke through the next few months.

That will give the Senate enough time to demand that the bankers and investment sharks who’ve already swiped nearly half of the $700 billion gift a chance to make the offer of cutting their pay.

Fat chance.

AIG pays themselves bonuses afterall! Unbelievable

During the Thanksgiving holiday, and probably attempting to go under the radar, AIG is giving top managers “cash awards” to stay with the firm. We’ve been scammed again. Call your Congressperson and ask what they are going to do about it. Seems AIG should be paying our money back at this point. They are over the top in the definition of bold.

Read the article at Bloomberg News online

Robert Scheer on the Economic Crisis

Colin Powell: Obama “He would electrify our country and the world”

Former Chairman of the Joint Chiefs of Staff, Secretary of State, and National Security Advisor Colin Powell has chosen to back Barack Obama. In an interview today, on Meet the Press, Powell stated that Obama would electrify our county and the world.

Powell stated that McCain’s “unsure” response to the ongoing economic crisis and his selection of a running mate who is “not ready to be president of the United States,” along with an increasingly “narrow” Republican approach to deepening national problems, had led him to support Obama. Other well thought and specific remarks included “His ability to inspire, the inclusive nature of his campaign, his reaching out all across America, who he is and his rhetorical abilities….he has both style and substance,” Powell said of Obama. He said that Obama’s own intellectual ability, and the experts surrounding him, had convinced him of Obama’s readiness to lead the country. During the recent economic crisis in particular, Powell said, Obama had shown “steadiness, intellectual curiosity, a depth of knowledge and approach….not just jumping in and changing every day but showing intellectual vigor. He has a definitive way of doing business that would serve us well”. He felt Obama’s pick of Senator Joe Biden ensured that we had an individual that was ready to serve on day one.

As for McCain, he said, “I found he was a little unsure as to how to deal with economic problems we’re having, almost every day a different approach. That concerned me, a sense that he didn’t have a complete grasp” of the situation.

Powell said he was also concerned about McCain’s vice presidential choice of Alaska Gov. Sarah Palin, whom he called “a distinguished woman,” who was not ready to be president. “That raised some questions in my mind as to his judgment.” read more from the Washington Post

Credit Cards Got You?

After Bailout, AIG Execs Head to California Resort

Less than a week after the federal government committed $85 billion to bail out AIG, executives of the giant AIG insurance company headed for a week-long retreat at a luxury resort and spa, the St. Regis Resort in Monarch Beach, California, Congressional investigators revealed today.

read more | digg story