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Bulls, Bears and Paper Tigers

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After years of watching the dollar slide like a kid at a water park, the bad news about the American economy is out of the closet.

Everywhere we look there are MSM features about fallout of the bull run Wall Street's banksters have had.

Part of the tragedy is that the newest wave of disaster is not inspiring the mainstream media to ask any of the right questions.

An open probe like, "How is the economy effecting you?" may be a good way to get at the human interest stories, but the better question of what was done to the banking laws to create this house of cards is ignored leaving the blame for the mess far from the corporate Congress.

The mortgage meltdown is not an event that occurred without warning. It is the result of profit maximizing practices and lax regulatory environment that was years in the making and involved the fattest cats on K Street, in bipartisan cooperation with the lawmakers they pay for.

The banksters have been taking home record compensation and the fee income from the churning of homes and mortgage paper has been a huge boost used to justify short term profits.

It has been one heck of a run with ousted CEO's taking some blame along with their mega million dollar severance packages and passing on their Board seats to understanding friends. The public gets the bailout tab and the lip service from Washington, offering condolences and proposed solutions.

Keeping up the tradition of offering meaningless fare without context, the mainstream media is now featuring the candidates proposals for righting this wrong; none is more filled with missed opportunity to delve into reality than the coverage of Senator Clinton's policy.

Hillary is the Senator who decided to be from New York because that's where Wall Street's core power is and she's got more money from the big banks and pharma than any of the candidates. So what's that got to do with her economic proposals?

The AP reported, "Democratic presidential candidate Hillary Rodham Clinton is proposing billions of dollars a year Wednesday to keep jobs from being shipped abroad."

That sounds good but only if you ignore the fact that the Clinton Administration experience includes support for the petrochemical companies in their newest incarnation as "life sciences" companies and one of the most destructive forces to hit the American economy since Enron energy policy.

The policies are doing to the food supply exactly what the banks have done to the housing market, sucking the life out of it along with every last dime they can. Clinton needs to be asked about supporting the destruction of family farms, the diversion of Land Grant University funding to agribusiness patent production and elimination of consumer rights in food labeling.

It is an embarassment to the very notion of political coverage that the woman can be running on her experience and the greates triumph of the Clinton years in its support of Monsanto is absent from the discussion. Monsanto's profits continue to soar along with the acreage planted, all with the the support of Congress for subsidies, USAID contracts, WTO suits and elimination of consumer rights.

The housing collapse is rippling through the Nation with such force the MM can't ignore it any longer but to ignore the precarious situation threatening food sovereignty is to invite a repeat. That's what Wall Street is banking on as Hillary holds out hope to Play it Again Sam.

Let's talk economy and Clinton's role in this huge moneymaker, who are the winners and losers here? If she's got experience delivering bottom line results and making a bright spot in the economic downturn, let's get a spotlight on there, eh??

 

http://pameladrew.newsvine.com/

Pamela Drew tracks the legislation, politics, science and spin surrounding the genetically altered foods. She is a freelance researcher, writer and documentary film producer living in New York City, where she works with advocacy groups and small (more...)
 

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Wasn't it just a few months ago that the finan... by John Sanchez Jr. on Friday, Apr 4, 2008 at 3:45:02 PM
The erosion of financial legislation tha... by Philip Knab on Saturday, Apr 5, 2008 at 11:04:58 AM