Wall Street wizard Robert E. Rubin, former Clinton treasury secretary, is stepping in to clean up Citigroup, which recently forecast losses of $13 billion due to its role in the subprime mortgage racket. That bubble has burst, sowing misery as millions of hard-pressed homeowners are forced into foreclosure.
A related but less publicized UN report issued in November 2006 was titled “Livestock’s Long Shadow — Environmental Issues and Options” by the Food and Agricultural Organization of the UN. The report presents an in-depth scientific analysis of the impact of agriculture on the ecology of the planet.
WASHINGTON — The Senate defied President Bush, Nov. 2, and approved for a third time a new version of the SCHIP children’s health care program by a 64-30 vote. Meanwhile, House leaders struggled to win over enough Republicans to pass the measure with bipartisan support in the face of yet another veto threat.
Less than a week after Chrysler workers barely approved a concessionary contract, the company’s Nov. 1 announcement that it will slash 10,000 hourly jobs, 1,000 salaried jobs and 40 percent of its contracting jobs rocked plant floors across the country. This job-slashing offensive is on top of 13,000 job cuts Chrysler announced last February, bringing the total layoffs to one-third of its workforce.
Just weeks ago, a proposed ballot initiative by far-right Republicans with links to presidential candidate Rudy Giuliani seemed dead, after efforts to put it on California’s June primary ballot imploded amid secretive financial maneuvering by its supporters. Now, like Freddy Krueger in “Nightmare on Elm Street,” it’s back!
Conservative economists, whose hold on truth is limited to the profits of certain kinds of corporations, almost always get it wrong, because their truth is limited to a startlingly small portion of the population.
As the smoke and ash settle out here in San Diego, a few things have become evident about the news in this age of disaster capitalism. One is the class nature of the corporate media beast. Another is its alienation from what’s really going on. And a third is its denial of scientific predictability. The consequences are important for people who want to work towards a better future.
The Senate Judiciary Committee should reject President Bush’s nomination of Michael Mukasey for attorney general.