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Posts Tagged ‘GOLDMAN SACHS’

AMERICA’S WEALTH CLUB: “GO TO WORK–AND DIE FOR ME”

In Bureaucracy, Business, History, Medical, Politics, Social commentary on March 31, 2020 at 12:09 am

“Capitalism Kills” could have been a headline in Pravda, the official “newspaper” of the former Soviet Union.

Instead, it’s billionaires themselves who are responsible for such a sentiment. They are doing their level best to persuade workers: “I regret that I have only one life to give for my CEO.”

Richard Kovacevich is the former CEO of Norwest Bank (1966 – 1998) and Wells Fargo (1998 – 2007). He wants healthy people under age 55 to return to work in late April if the outbreak is contained enough.

There are two major problems with this:

  1. There aren’t enough test kits to screen everyone for possible signs of the Coronavirus.
  2. Many of those who carry the virus show no signs of infection.

“We’ll gradually bring those people back and see what happens. Some of them will get sick, some may even die. I don’t know,” said Kovacevich.

He might just as well have added: “I don’t care.”

I think Trump is wrong on rates, we need to get to neutral, says ...

“Do you want to suffer more economically or take some risk that you’ll get flu-like symptoms and a flu-like experience? Do you want to take an economic risk or a health risk? You get to choose.”

If President Donald Trump gets to choose, the nationwide social distancing practices that health professionals say are essential to saving lives during the Coronavirus outbreak will end on April 30.

He originally chose Easter as a pretext for doing this: “You’ll have packed churches all over our country. I think it would be a beautiful time.”

The real reason: He wants to return to return to holding his mass public rallies—which some have compared to the Nuremberg rallies hosted by Adolf Hitler. There he can spew hatred at everyone he dislikes and bask in the worshipful glow of his fanatical base.

Fortunately, the rising tide of COVID-19 cases forced him to abandon his original April 12 date. 

And many highly-paid executives in American corporations are itching to put their employees back at work—and on the Coronavirus firing line. 

“The damages of keeping the economy closed as it is could be worse than losing a few more people,” Tom Golisano, the founder and chairman of the payroll processor Paychex Inc. told Bloomberg. “I have a very large concern that if businesses keep going along the way they’re going then so many of them will have to fold.” 

Forbes estimates Golisano’s net worth to be $3 billion.  

Like Richard Kovacevich, he wants states that haven’t been hit hard by the virus to return to normalcy.

Tom Golisano.JPG

Tom Golisano

Penale52 / CC BY-SA (https://creativecommons.org/licenses/by-sa/3.0)

Lloyd Blankfein, the former head of Goldman Sachs, wrote on Twitter: “Crushing the economy, jobs and morale is also a health issue—and beyond. Within a very few weeks let those with a lower risk to the disease return to work.”

There’s no question that keeping businesses closed across the country—as scientists and health professionals are urging—will inflict large-scale economic damage.

But rushing people back to work would prolong the outbreak and overwhelm the healthcare system. And it would certainly increase—perhaps exponentially—the number of dead and infected casualties of the pandemic. Economists from Northwestern University calculated that keeping social distancing practices in place until cases decline could save 600,000 lives nationwide.

Meanwhile, Dr. Anthony Fauci, head of the National Institute of Allergy and Infectious Diseases, warns that the United States could experience 100,000 deaths and millions of viral infections from the Coronavirus pandemic.

Ignoring these facts is Right-wing TV and radio host Glenn Beck, who, according to Forbes, was worth $90 million in 2014.

“I would rather have my children stay home and all of us who are over 50 go in and keep this economy going and working.  Even if we all get sick, I’d rather die than kill the country,” Beck, 56, said on his show “The Blaze.”

Of course, Beck works alone in his own studio—and is thus highly unlikely to come in contact with an infected carrier.

Glenn Beck (25030472253) (cropped).jpg

Glenn Beck

George Skidmore photo

Like Beck, millionaires and billionaires can afford to socially distance themselves from others and still accumulate huge piles of wealth.

“I think what we are doing with the shutdown is good but in a few weeks people will need to be around people,” said billionaire Tilman Fertitta, owner of a casino, hotel and restaurant empire.

He certainly needs “people to be around people.” His businesses depend heavily on huge numbers of customers willing to spend money.

And, in this case, to risk their lives doing so.

Adds Fertotta: “Otherwise you are going to go into an economic crisis that is going to take us years to dig ourselves out of.”

Fertitta’s income is estimated at $4.4 billion, according to Forbes.

For men like Richard Kovacevich, Tom Golisano, Lloyd Blankfein, Glenn Beck and Tilman Fertitta,, the words of President Franklin D. Roosevelt have no meaning: “The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have little.”

For Republicans and their wealthy benefactors, “pro-life” means strictly anti-abortion. Any other form of life—the elderly, the ill, victims of pollution, those slaughtered with military-style weaponry used by criminals—are totally expendable.

TRUST ONLY ME–EVEN WHEN I’M LYING: PART TWO (END)

In Bureaucracy, History, Military, Politics, Social commentary on March 17, 2017 at 12:16 am

Since taking office as the Nation’s 45th President, Donald Trump has attacked or undermined one public or private institution after another.

Among these:

  • The Secret Service: Trump has kept his longtime private security force, and combined its members with those of the elite federal agency. By marginalizing the Secret Service, he has clearly sent the message: You’re not good enough, and I don’t trust you.
  • The Bureau of Labor Statistics (BLS):  As a Presidential candidate Trump slammed the agency’s employment numbers that showed the economy improving under the Obama administration.  His response on March 12, 2016: “The numbers are phony. These are all phony numbers. Numbers given to politicians to look good. These are phony numbers.”
  • In February, 2017, the BLS said  that American  businesses had added 235,000 workers to their payrolls.
  • On March 10, a reporter asked Trump’s press secretary, Sean Spicer, whether, given his past statements, Trump thought this jobs report was “accurate.” Spicer replied: “I talked to the president prior to this, and he said to quote him very clearly: ‘They may have been phony in the past, but it’s very real now.’”
  • The Environmental Protection Agency (EPA): Trump believes that climate change is a hoax. He didn’t offer any proof for this. Instead, he appointed an EPA director–Scott Pruitt–who claimed that climate change wasn’t caused by human activity. 
  • Pruitt ordered EPA staffers to remove pages from the agency’s website concerning climate change, threatened to review all of the agency’s data and publications, and cut the budgets of all scientific research in government.
  • The Congressional Budget Office (CBO): Fearing the CBO’s verdict on the costs and coverage of his proposed Trumpcare replacement for the Affordable Care Act (ACA), Trump ordered a preemptive strike on the agency’s credibility. Said Sean Spicer to assembled reporters: “If you’re looking at the CBO for accuracy, you’re looking in the wrong place.”
  • The director of the CBO is a Republican economist and former George W. Bush administration official who was chosen for his position by the Republican Congress in 2015. 
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  • President Barack Obama: For five years, Trump, more than anyone else, popularized the slander that President Barack Obama was born in Kenya–and was therefore not an American citizen.
  • On March 23, 2011, Trump said: “I want him to show his birth certificate. I want him to show his birth certificate. …There’s something on that birth certificate that he doesn’t like.” 
  • Even after Obama released the long-form version of his birth certificate–on April 27, 2011–Trump tweeted, on August 6, 2012: “An ‘extremely credible source’ has called my office and told me that @BarackObama‘s birth certificate is a fraud.”
  • On November 23, 2014, he tweeted this: “@futureicon@pinksugar61 Obama also fabricated his own birth certificate after being pressured to produce one by @realDonaldTrump“.
  • Then, in June, 2015, Trump declared himself a candidate for President. By September, 2016, he found his popularity steadily dropping among black voters. Even the managers of Trump’s campaign urged him to put the “birther” issue behind him. 
  • On September 16, 2016–10 days before his scheduled first debate with Democratic Presidential nominee Hillary Clinton–Trump made his version of a reversal: “Hillary Clinton and her campaign of 2008 started the birther controversy. “I finished it.  I finished it. You know what I mean. President Barack Obama was born in the United States, period.” 

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Barack Obama

  • On March 4, 2017, in a series of unhinged tweets, Trump accused former President Obama of tapping his Trump Tower phones prior to the election: “Terrible! Just found out that Obama had my ‘wires tapped’ in Trump Tower just before the victory. Nothing found. This is McCarthyism!”  
  • “Is it legal for a sitting President to be ‘wire tapping’ a race for president prior to an election? Turned down by court earlier. A NEW LOW!” 
  • “I’d bet a good lawyer could make a great case out of the fact that President Obama was tapping my phones in October, just prior to Election!” 
  • “How low has President Obama gone to tapp my phones during the very sacred election process. This is Nixon/Watergate. Bad (or sick) guy!”  

Thus, without offering a shred of evidence to back it up, Trump accused his predecessor of committing an impeachable offense. 

* * * * *

Donald Trump isn’t crazy, as many of his critics charge. He knows what he’s doing. His strategy is two-fold–both immediate and long-term.

In the short-term, he’s attacking anyone who dares to disagree with him. Much of this is driven by his own natural aggression–he can’t tolerate criticism or dissent.  

The long-term reason for his assaults on public and private institutions is far more sinister.

He intends to strip every potential challenger to his authority–or his version of reality–of any credibility with the public.  

If he succeeds, there will be:

  • No independent press to reveal his failures and crimes.
  • No independent law enforcement agencies to investigate his abuses of office.
  • No independent judiciary to hold him accountable.  
  • No independent military authorities to dissent as he recklessly hurtles toward potential nuclear showdowns.
  • No candidate–Democrat or Republican–to challenge him for re-election in 2010.
  • No candidate–Democrat or Republican–to challenge his remaining in office as “President-for-Life.”

TRUST ONLY ME–EVEN WHEN I’M LYING: PART ONE (OF TWO)

In Bureaucracy, History, Military, Politics, Social commentary on March 16, 2017 at 12:28 am

On February 19, Robert Reich, former Secretary of Labor under President Bill Clinton, posted a scathing–and accurate–attack on Donald Trump.

Writing on his Facebook page, Reich pointed out a series of statements Trump made during the 2016 Presidential campaign–and how each of them has proven to be a lie [italics in blue are added]:

Robert Reich at the UT Liz Carpenter Lecture 2015.JPG

Robert Reich

1.  He called Hillary Clinton a crook.  

You bought it.  

Then he paid $25 million to settle a fraud lawsuit.

2. He said he’d release his tax returns, eventually. 

You bought it. 

He hasn’t, and says he never will.

3. He said he’d divest himself from his financial empire, to avoid any conflicts of interest. 

You bought it. 

He is still heavily involved in his businesses, manipulates the stock market on a daily basis, and has more conflicts of interest than can even be counted.

4. He said Clinton was in the pockets of Goldman Sachs, and would do whatever they said.  

You bought it.  

He then proceeded to put half a dozen Goldman Sachs executives in positions of power in his administration.

5. He said he’d surround himself with all the best and smartest people.

You bought it.

He nominated theocratic loon Mike Pence for Vice President. A white supremacist named Steve Bannon is his most trusted confidant. Dr. Ben Carson, the world’s greatest idiot savant brain surgeon, is in charge of HUD. Russian quisling Rex Tillerson is Secretary of State.

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Steve Bannon

6. He said he’d be his own man, beholden to no one.

You bought it.

He then appointed Betsy DeVos as Secretary of Education, whose only “qualifications” were the massive amounts of cash she donated to his campaign.

7. He said he would “drain the swamp” of Washington insiders.

You bought it.

He then admitted that was just a corny slogan he said to fire up the rubes during the rallies, and that he didn’t mean it.

8. He said he knew more about strategy and terrorism than the Generals did.

You bought it.

He promptly gave the green light to a disastrous raid in Yemen- even though all his Generals said it would be a terrible idea. This raid resulted in the deaths of a Navy SEAL, an 8-year old American girl, and numerous civilians. The actual target of the raid escaped, and no useful intel was gained.

9. He said Hillary Clinton couldn’t be counted on in times of crisis.

You bought it.

He didn’t even bother overseeing that raid in Yemen; and instead spent the time hate-tweeting the New York Times, and sleeping.

10. He called CNN, the Washington Post and the New York Times “fake news” and said they were his enemy.

You bought it.

He now gets all his information from Breitbart, Gateway Pundit, and InfoWars.

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Donald Trump

11. He called Barack Obama “the vacationer-in-Chief” and accused him of playing more rounds of golf than Tiger Woods. He promised to never be the kind of president who took cushy vacations on the taxpayer’s dime, not when there was so much important work to be done.

You bought it.

He took his first vacation after 11 days in office. On the taxpayer’s dime. And went golfing. And that’s just the first month.  

* * * * *

Since taking office as the Nation’s 45th President, Trump has attacked or undermined one public or private institution after another.  

Among these: 

  • American Intelligence and military agencies: A Trump executive order allows the Director of National Intelligence and chairman of the Joint Chiefs of Staff to attend the Principals’ Committee only when it pertains to their “responsibilities and expertise.” 
  • Senior Adviser and Chief Strategist Steve Bannon–an anti-Semitic white supremacist–will now wield influence over the National Security Council.  
  • In February, Trump approved and ordered a Special Forces raid in Yemen on an Al Qaeda stronghold. The assault resulted in the death of Navy SEAL Chief Petty Officer William “Ryan” Owens.
  • Disavowing any responsibility for the failure, Trump said: ““This was a mission that was started before I got here. This was something they wanted to do. They came to me, they explained what they wanted to do–the generals–who are very respected, my generals are the most respected that we’ve had in many decades, I believe. And they lost Ryan.”
  • Medicare: During the 2016 campaign, Trump said he would allow Medicare to negotiate down the price of prescription drugs. At his January 10 press conference he charged that pharmaceutical companies were “getting away with murder.”
  • But after meeting with pharmaceutical lobbyists on January 31, Trump said: “I’ll oppose anything that makes it harder for smaller, younger companies to take the risk of bringing their product to a vibrantly competitive market. That includes price-fixing by the biggest dog in the market, Medicare.”
  • The press: On February 17, Trump tweeted: “The FAKE NEWS media (failing @nytimes, @NBCNews,@ABC, @CBS, @CNN) is not my enemy, it is the enemy of the American People!”
  • And, appearing before the Conservative Political Action Conference on February 24, Trump said: “I want you all to know that we are fighting the fake news. It’s fake, phony, fake….I’m against the people that make up stories and make up sources. They shouldn’t be allowed to use sources unless they use somebody’s name. Let their name be put out there.” 
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