The Long Road to Democracy
Blagojevich gets 14 years, but what about these guys?
This Beat Down is for Your Health - the Money Party Must Stop Occupy Movements
The Pennsylvania Sexual Assault Scandal, the Second Mile Foundation, and Penn State
War Crimes in Libya - The Smoking Guns
From the United Kingdon
We've got a new tax for millionaires. Will it work?
How much solar energy does it take to power the world? The dark discs represent the and mass needed using current
Sunlight hitting the dark discs could power the whole world: If installed in areas marked by the six discs in the map, solar cells with a conversion efficiency of only 8 % would produce, on average, 18 TW electrical power. That is more than the total power currently available from all our primary energy sources, including coal, oil, gas, nuclear, and hydro. The colors show a three-year average of solar irradiance, including nights and cloud coverage. Matthhias Loster
Full analysis here and original analysis here, with alternate graphic.
Posted in "Tree Hugger"
Murdoch in Free Fall - Credibility Gone Billions to Follow
Texas Supreme Court Challenges Incest Taboo
Who in the World would trust Standard and Poor's?
By Michael Collins - Economic Populist
Standard and Poor's finally did it. They downgraded the credit rating of the United States from AAA to AA+. There are serious questions about the reliability of S&P. The White House pointed out that there is a $2 trillion error in the calculations used for the downgrade. Ths is of interest since the two other agencies failed to change the AAA status of the US. (See Robert Oak, Economic Populist)
They Helped Trigger the Financial Collapse
Along with Moody's, S&P abruptly burst the real estate bubble and triggered the 2008 recession. Their downgrading of mortgage backed securities followed years of the highest ratings for these risky financial products. According to a US Senate committee report:
"Although ratings downgrades for investment grade securities are supposed to be relatively infrequent, in 2007, they took place on a massive scale that was unprecedented in U.S. financial markets. Beginning in July 2007, Moody’s and S&P downgraded hundreds and then thousands of RMBS and CDO ratings, causing the rated securities to lose value and become much more difficult to sell, and leading to the subsequent collapse of the RMBS and CDO secondary markets. The massive downgrades made it clear that the original ratings were not only deeply flawed, but the U.S. mortgage market was much riskier than previously portrayed." (Author's emphasis) US Senate Permanent Subcommittee on Investigations, April 13 (p. 263)
The War on You