Mostrando las entradas con la etiqueta devastation. usa criminals. Mostrar todas las entradas
Mostrando las entradas con la etiqueta devastation. usa criminals. Mostrar todas las entradas

jueves, diciembre 22, 2011

Has the Israel Lobby Gone Too Far?

Will a recent attack on progressive journalists help spark a sea-change in the debate over Middle East policy?

sábado, mayo 21, 2011

Noam Chomsky: 'The U.S. and its Allies Will Do Anything to Prevent Democracy in the Arab World'

Speaking at the 25th anniversary celebration of Fairness and Accuracy in Reporting, Chomsky analyzes the U.S. response to the uprisings sweeping the Middle East and North Africa.

lunes, noviembre 24, 2008

The 10 Worst Corporations of 2008

The 10 Worst Corporations of 2008

By Robert Weissman, Multinational Monitor.

The financial meltdown and economic crisis illustrated that corporations will destroy even themselves in search of profit.
2008 marks the 20th anniversary of Multinational Monitor's annual list of the 10 Worst Corporations of the year.
In the 20 years that we've published our annual list, we've covered corporate villains, scoundrels, criminals and miscreants. We've reported on some really bad stuff - from Exxon's Valdez spill to Union Carbide and Dow's effort to avoid responsibility for the Bhopal disaster; from oil companies coddling dictators (including Chevron and CNPC, both profiled this year) to a bank (Riggs) providing financial services for Chilean dictator Augusto Pinochet; from oil and auto companies threatening the future of the planet by blocking efforts to address climate change to duplicitous tobacco companies marketing cigarettes around the world by associating their product with images of freedom, sports, youthful energy and good health.
But we've never had a year like 2008.
The financial crisis first gripping Wall Street and now spreading rapidly throughout the world is, in many ways, emblematic of the worst of the corporate-dominated political and economic system that we aim to expose with our annual 10 Worst list. Here is how.
Improper political influence: Corporations dominate the policy-making process, from city councils to global institutions like the World Trade Organization. Over the last 30 years, and especially in the last decade, Wall Street interests leveraged their political power to remove many of the regulations that had restricted their activities. There are at least a dozen separate and significant examples of this, including the Financial Services Modernization Act of 1999, which permitted the merger of banks and investment banks. In a form of corporate civil disobedience, Citibank and Travelers Group merged in 1998 - a move that was illegal at the time, but for which they were given a two-year forbearance - on the assumption that they would be able to force a change in the relevant law. They did, with the help of just-retired (at the time) Treasury Secretary Robert Rubin, who went on to an executive position at the newly created Citigroup.
Deregulation and non-enforcement: Non-enforcement of rules against predatory lending helped the housing bubble balloon. While some regulators had sought to exert authority over financial derivatives, they were stopped by finance-friendly figures in the Clinton administration and Congress - enabling the creation of the credit default swap market. Even Alan Greenspan concedes that that market - worth $55 trillion in what is called notional value - is imploding in significant part because it was not regulated.
Short-term thinking: It was obvious to anyone who cared to look at historical trends that the United States was experiencing a housing bubble. Many in the financial sector seemed to have convinced themselves that there was no bubble. But others must have been more clear-eyed. In any case, all the Wall Street players had an incentive not to pay attention to the bubble. They were making stratospheric annual bonuses based on annual results. Even if they were certain the bubble would pop sometime in the future, they had every incentive to keep making money on the upside.
Financialization: Profits in the financial sector were more than 35 percent of overall U.S. corporate profits in each year from 2005 to 2007, according to data from the Bureau of Economic Analysis. Instead of serving the real economy, the financial sector was taking over the real economy.
Profit over social use: Relatedly, the corporate-driven economy was being driven by what could make a profit, rather than what would serve a social purpose. Although Wall Street hucksters offered elaborate rationalizations for why exotic financial derivatives, private equity takeovers of firms, securitization and other so-called financial innovations helped improve economic efficiency, by and large these financial schemes served no socially useful purpose.
Externalized costs: Worse, the financial schemes didn't just create money for Wall Street movers and shakers and their investors. They made money at the expense of others. The costs of these schemes were foisted onto workers who lost jobs at firms gutted by private equity operators, unpayable loans acquired by homeowners who bought into a bubble market (often made worse by unconscionable lending terms), and now the public.
What is most revealing about the financial meltdown and economic crisis, however, is that it illustrates that corporations - if left to their own worst instincts - will destroy themselves and the system that nurtures them. It is rare that this lesson is so graphically illustrated. It is one the world must quickly learn, if we are to avoid the most serious existential threat we have yet faced: climate change.
Of course, the rest of the corporate sector was not on good behavior during 2008 either, and we do not want them to escape justified scrutiny. In keeping with our tradition of highlighting diverse forms of corporate wrongdoing, we include only one financial company on the 10 Worst list. Here, presented in alphabetical order, are the 10 Worst Corporations of 2008.
AIG: Money for Nothing
There's surely no one party responsible for the ongoing global financial crisis.


In order to read the complete article HERE.

martes, octubre 28, 2008

War in Iraq......

The Devastation in Iraq Is Systematic -- And It's About to Get Much Worse

Iraq's state of complete disrepair has created a population in steaming discontent.

Intro by TomDispatch editor Tom Engelhardt:
The Roman historian Tacitus famously put the following lines in the mouth of a British chieftain opposed to imperial Rome: "They have plundered the world, stripping naked the land in their hunger they are driven by greed, if their enemy be rich; by ambition, if poor They ravage, they slaughter, they seize by false pretenses, and all of this they hail as the construction of empire. And when in their wake nothing remains but a desert, they call that peace."
Or, in the case of the Bush administration, post-surge "success." Today, however, success in Iraq seems as elusive as ever for the President. The Iraqi cabinet is now refusing, without further amendment, to pass on to Parliament the status of forces agreement for stationing U.S. troops in the country that it's taken so many months for American and Iraqi negotiators to sort out. Key objections, as Juan Cole points out at his Informed Comment blog, have come from the Islamic Supreme Council of Iraq, which is [Prime Minister Nouri] al-Maliki's chief political partner, the support of which he would need to get the draft through parliament." That party, Cole adds tellingly, "is close to Tehran, which objects to the agreement." The Iranian veto? Hmmm
Among Iraqis, according to the Dreyfuss Report, only the Kurds, whose territories house no significant U.S. forces, remain unequivocally in favor of the agreement as written. Frustrated American officials, including Ambassador Ryan Crocker ("Without legal authority to operate, we do not operate That means no security operations, no logistics, no training, no support for Iraqis on the borders, no nothing"), Secretary of Defense Robert Gates ("Without a new legal agreement,'we basically stop doing anything' in the country"), and Chairman of the Joint Chiefs Mike Mullen ("We are clearly running out of time") are huffing and puffing, and threatening -- if the agreement is not passed as is -- to blow the house down.
Without a mandate to remain, American troops won't leave, of course. At year's end, they will, so American officials insist, simply retreat to their bases and assumedly leave Maliki's government to dangle in the expected gale. Clearly, this is a game of chicken. What's less clear is who's willing to go over the cliff, or who exactly is going to put on the brakes.
In the meantime, the administration that, only four years ago, imposed conditions on Iraq at least as onerous as those nineteenth century colonial powers imposed on their colonies, can no longer get an agreement it desperately needs from its "allies" in Baghdad. Could this, then, be the $700 billion kiss-off? Stay tuned and, in the meantime, consider, as described by TomDispatch regular Michael Schwartz, what the Bush administration did to Iraq these last five years. Imagine it as a preview of the devastation the administration's domestic version of de-Baathification is now doing to the U.S. economy.
Schwartz's striking piece encapsulates a story he's been following closely for years: the everyday economic violence that invasion and occupation brought to Iraq. It's being posted in honor of the just-released latest TomDispatch volume, his War Without End: The Iraq War in Context, beautifully produced by Haymarket Books. Think of this superb new work on the American war in Iraq as Tacitus updated. In it, Schwartz offers a gripping history -- the best we have -- of how (to steal a phrase from the Roman historian), "driven by greed [and] ambition," the U.S. dismantled Iraq economically. It's a nightmare of a tale, which you can watch Schwartz discuss in a brief video by clicking here. If this be "success," then we truly are wandering in the desert. (By the way, any author profits from the book will go to IVAW, Iraq Veterans Against the War.)

In order to read the whole article HERE.