Archive for the National Defense Authorization Act / FY 2012 Category

“Bail Ins” Are Globalized; “Bail Outs” Are Bailed Back In; No Bail For Bankers (December 29, 2014)

Posted in Bail In, Bailout/Bribe, Bankruptcy, Banks and Banking System, Congress, Dodd-Frank, National Defense Authorization Act / FY 2012, Volker on December 29, 2014 by e-commentary.org

. . .

J          “Dodd-Frank (July, 2010) said ‘no’ to more ‘bail outs’ by the public for the ‘too-big-to-fail-and-too-big-to-jail’ Banks and then the Federal Reserve (December, 2012) said ‘yes’ to ‘bail ins’ by the depositors and then the G20 Nations (November, 2014) said ‘heck yes’ to ‘bail ins’ by the depositors and then Citicorp-Congress (December, 2014) said ‘hell yes’ to more ‘bail outs’ by the public for derivatives and other junk.  So many Christmas gifts, so little time.”

K          “Back to a ‘bail out’ of the Wall Street Bankers including all the junk bonds . . . that fuel the American shale oil boom.  That did not take long to cover them for their exposure in the Great Gas War.  The people, the pensioners and the depositors will suffer existential losses when the derivatives collapse.”  

J          “Citicorp-Congress also delayed implementation of the ‘Volker Rule’ that would provide for increased capital ratios and mark-to-market valuations.  Citicorp-Congress gave the ‘one-two punch’ to the public.”

K          “K.O.’d for Christmas.  All I got for Christmas is my two front teeth.  Knocked out.  By Congress.”

. . .

J          “The plaque proclaims that your deposit is insured up to $250,000 by the FDIC.  Everyone is fooled, yet no one is protected by the plaque in a serious financial plague.  When the Big Banks and their partners in crime on Wall Street fail, the FDIC will not be able to provide insurance for the depositors who are now on the hook.  Line and sinker.  Now on the line, the bottom line is that the depositors must ‘bail in’ the Big Banks and the public must ’bail out’ Wall Street.”

. . .    

[See the e-commentary at Bailouts: Out; Bail Ins: In; Slowly Boilin’ The Frog (April 15, 2013) and Globalizing The Bail In (July 8, 2013).]

Bumper stickers of the week:

We should be doing something to make the bankers worry about getting bailed out.

18 T Debt; 18 K Dow

Plus 4 T “Federal Reserve Debt” = 22 T “Federal Debt”

Plus 9 G (Gazillion) in Derivatives = some trouble

The Capitol Building on Jenkins Hill is now renamed the “Citicorp Dome”

And then take a look at the National Defense Authorization Acts of 2012 and 2014. 

Financial History:

1998:            Banks/Wall Street bail out Long Term Capital Management

2008:           Federal Reserve bails out Banks/Wall Street

201_:            International Monetary Fund bails out Federal Reserve; Taxpayers bail out Banks/Wall Street

201_:            God bails out the International Monetary Fund; No one bails out Taxpayers

201_:            God files Chapter 11 Reorganization; Taxpayers file Chapter 7 Liquidation

So, help us God, so help us God.

The Federal Government, In Practice (September 15, 2014)

Posted in Banks and Banking System, CIA, Civil Rights/Civil Liberties, Congress, Courts, Federal Reserve, Judges, Judicial Arrogance, Judiciary, National Defense Authorization Act / FY 2012, Presidency, USA PATRIOT Act on September 15, 2014 by e-commentary.org

. . .

S          “So the Founding Fathers are blamed for and credited with many things.  Everyone agrees they were inspired by Montesquieu’s notion of the separation of powers providing for executive, legislative and judicial functions.  The division of labor and duties seems so clean and elegant in your civics class.  Yet, in practice, the process is so tainted and untidy.”

T          “In my class, I try to tidy up the mess.  I present this outline of the grand plan on the board to spark discussion:

Post 1787:          Theory:     Practice:

President            34%           30% (implement laws)
Congress             33%           60% (make laws)
Judiciary             33%           10% (interpret laws)
National Bank      0%             0% (inspire debate)

The judiciary was little more than an administrative agency with possibility until the Supreme Court developed the doctrine of judicial review in Marbury v. Madison in 1803.  The political plate tectonics shifted and now we have:

2014:

President                             44% (determines most major domestic and foreign policy initiatives)

Congress                              21% (drives economic activities via substantial ad hoc spending largely for defense, interest and entitlements)

Judiciary                              35% (makes laws)

Federal Reserve                 33% (the private bank with the misleading name establishes monetary policy and directs fiscal policy by default because of Congressional grid lock and thus effectively runs the economy, with little public participation)

National Security State    39% (shapes domestic and foreign affairs via a motley and myriad montage of agencies, contractors, sub-contractors and others with little oversight)

S          “So sixty-eight percent of government policy is imposed by federal judges and the Federal Reserve Board of Governors/Big Bankers who are not elected.”

T          “The Founding Fathers are said to have been anti-democratic.  I know they would be surprised at what has emerged in practice in America.”

S          “So thirty-nine percent of domestic and foreign surveillance and activities are determined by unknown and unaccountable agents and operatives.”

T          “Who knows.”

. . .

S          “So we need to track the federal Debt which is now over 17 Trillion dollars and also the Federal Reserve Debt which is now over 4 Trillion dollars.”

T          “While you are at it, try to fathom the 100s of Trillions of dollars in derivatives that were never on the Founding Fathers’ radar and are off the public radar today.”

S          “That fraud will doom the Republic some day.”

. . .

S          “So the Big Bankers favor war because it is so profitable, so the large number of Big Bankers in power results in an over-production of war.”

T          “Accord.”

. . .

T          “Republicans want a powerful ‘unitary’ President when a Republican is in the White House and an effete President when a Democrat is in the White House.”

S          “And everyone agrees that federal judges are politicians in black robes.”

T          “Accord, young scholar.  See why this is so much fun.”

. . .

[T:  Teacher; S:  Student]

Bumper stickers of the week:

The Declaration of Independence is America’s Original Organic Poem.  The Constitution is America’s Owners’ Manual.  Signed on September 17, 1787.

There is no law.  There is only ideology.

Joint Base Fort America (July 28, 2014)

Posted in Bush, Civil Rights/Civil Liberties, Freedom / Liberty, Military, Military Commissions Act, National Defense Authorization Act / FY 2012, O'Bama, Security State, USA PATRIOT Act, War on July 28, 2014 by e-commentary.org

. . .

5          “America is now one gigantic fortified military base.”

7          “Joint Base Bush O’Bama.  JBBO.”

5          “Or Joint Base O’Bama Bush.  JBOB.  What’s the difference.”

7          “We are in the fourth term of the Bush Administration.  Or during the first term of the O’Bama Administration, President Cheney and Vice President Bush invaded Iraq without provocation or plan based on lies and deception.”

. . .

5          “A locked compound on lock down.  And too many Americans are not locked on to this development.  The government is locked and loaded and ready to lock up dissidents or the downtrodden.”

7          “The authorities have us locked with stock and barrel.  The new USSA – the United Security State of America – is not much different than the old USSR.”

5          “The area along a nation’s border has always been a region where liberty is more constricted and civil liberties are constrained.  The band of land, however, was narrow and circumscribed the border.  The heart of the country was free. Today, the southern border of America is moving north while the northern border is moving south while the western border is moving east while the eastern border is moving east west.”

7          “The only free area may be the geographic center of the contiguous United States.  The town of Lebanon, Kansas or thereabouts, but that may only be the last place to be enveloped.  The plate tectonics of the security state are shifting ominously.  A big collision is in the works.”

. . .

Bumper sticker of the week:

I wasn’t using my civil liberties anyway

 

America’s Frazzled First Amendment (January 13, 2014)

Posted in Abortion, Courts, First Amendment, Journalism, National Defense Authorization Act / FY 2012, Newspapers, PATRIOT Act, Press/Media, Rating Agencies, Supreme Court, USA PATRIOT Act on January 13, 2014 by e-commentary.org

. . .

L1        “The right-wing majority on the Supreme Court has devolved a simple formula for First Amendment analysis:  Who is making the statement and what statement is he, she or it making?  A corporation is extended any and all protection that advances its interests and shields it from liability under the guise of the First Amendment.  An individual is extended First Amendment protection only to the extent that his or her speech is acceptable to the right-wing majority on the Supreme Court.”

L2        “With a few exceptions.”

L1        “A few, but very few exceptions.  The oral argument this week at the Supreme Court involving the reasonable and safe distance between protestors and citizens entering an abortion clinic is less about the First Amendment and more about efforts by the right-wing majority to restrict abortion.”

L2        “Restrict abortion by restricting access.”

. . .

L1        “Some bonehead judges shield the fraudulent statements and misrepresentations of rating agencies’ such as Standard & Poor’s, Moody’s and Fitch with First Amendment protection.  A fraudulent statement advanced with the intent to deceive is not entitled to any constitutional protection even if it is advanced by a corporation rather than an individual.”

L2        “The next step by some judges is to insulate any statements however deceptive or fraudulent by other specific industries such as the oil and gas, pharmaceutical, and agricultural industries from liability by bestowing First Amendment protection on them.”

. . .

L2        “The O’Bama Administration has maintained the hostile attitude and increased aggressive actions against whistleblowers and those challenging often illegal government shenanigans.  The executive branch contributes to the problem not to the solution.”

L1        “Their dismissive treatment of the press is taken from Tricky Dick’s play book.  The White House is Fort O’Bama.”

. . .

L1        “Congress could address most of these problems with legislation that most courts would honor and enforce.  Legislation including the USA PATRIOT Act and the National Defense Authorization Act of 2012 should be reviewed and amended.”

L2        “Seems that all three branches are a threat to the people today.”  

. . .

[See the “e-ssays” titled https://e-commentary.org/category/first-amendment/ in particular The Supreme Court On Drugs (June 25, 2007), Bill/Melinda and Warren, It Is Time To Get Into The Game (January 25, 2010), Corporations United (Feb. 15, 2010), In Sexy Opinion, Supreme Court Affirms First Amendment (March 7, 2011) and At War With The First Amendment (February 27, 2012); the “e-ssays” at https://e-commentary.org/category/national-defense-authorization-act-fy-2012/ and https://e-commentary.org/category/usa-patriot-act/; and commentary on rating agencies at https://e-commentary.org/category/rating-agencies-2/.]

Bumper sticker of the week:

My Political Ideas                                            Are Too Complex

To Fit On One                                                  Bumper Sticker

I Spy, You Spy, They Spy (October 28, 2013)

Posted in Civil Rights/Civil Liberties, Cyberactivities, Due Process, FISA, Google, Government Regulation, National Defense Authorization Act / FY 2012, Perjury, Perjury/Dishonesty, Privacy, USA PATRIOT Act on October 28, 2013 by e-commentary.org

. . .

A          “Remember back in the halcyon days of 2002 when everyone proclaimed that surely the government was not spying on fellow Americans.”

B          “September 11, 2001 may have been the pivotal day.  Ineptitude and incompetence gave way to fear and folly.  Increased spying is no surprise.  And yet now everyone is surprised.”

A          “And I was deemed paranoid because I knew they were gathering data on us.”

B          “It is not paranoia if they are really after you.”

A          “They were after us.  Every instinct informed me that we were being monitored.”

B          “So many government officials in the know knowingly lied in various forums including some under oath and averred that there was no spying.  Many of those who testified agreed to tell ‘the whole truth’ and did not tell the whole truth.”

A          “I realize that we as a people have always been placing an ear up to a door to snatch a snippet of conversation, yet now there are no restraints.”

. . .

A/B       “Are we safer?”

. . .

Bumper sticker of the week:

“Snowden is a traitor.  Stop spying on me.”

Over The Cliff Or At The Foot? (December 31, 2012)

Posted in Civil Rights/Civil Liberties, Congress, Consumerism, FISA, National Defense Authorization Act / FY 2012, Pogo Plight, Spending, Taxation on December 31, 2012 by e-commentary.org

. . .

E1          “Everyone describes our current federal budgetary mess as a ‘cliff,’ yet we as a society are at the foot of a great summit.”

E2          “Everything is a matter of perspective.  The mix of taxes and spending cuts proposed as part of the ‘sequestration’ are painful and may even lead to a slow-down in the economy in the short term, yet they are a critical first start.  The cuts looked desirable when the Republicans and Democrats agreed to them in 2011.”

E1          “We will not make the right decision unless we realize that we must step up rather than step off.  The ‘can’ they refer to looks more like a 55 gallon steel drum that is not likely to respond to further kicking.  We need to take the first step rather than continue our kicking and screaming.”

E2          “And then Congress must address the budget ceiling in the next two months.  Congress has already spent the money and is allowed, after the fact, to ratify or reject what they already spent.  Some wingnuts are saying they should not raise the debt ceiling.  What Congress needs to do is focus on future spending so that they do not need to ratify their excessive spending in the future.”

E1          “After receiving a bill for goods already provided and services already performed, no citizen gets to decide whether to ‘pay the freight’ or not.”

. . .

[See the “e-ssays” titled A Taxing Explanation (August 22, 2011) and On Uncertainty, Certainment (July 30, 2012).]

[Congress continues to transgression on our civil liberties with another Christmas gift.  http://www.npr.org/blogs/thetwo-way/2012/12/28/168220266/congress-extends-fisa-wiretapping-act-to-2017-awaits-obamas-signatureLast year, Congress gave us the NDAA of 2012.]

Bumper stickers of the week:

Can I pay my MasterCard bill with my Visa?

Can I not pay my MasterCard and my Visa bill?

Eu-rope / Mal-rope Again (May 21, 2012)

Posted in Civil Rights/Civil Liberties, Courts, Economics, Europe, Judges, National Defense Authorization Act / FY 2012 on May 21, 2012 by e-commentary.org

. . .

_          In Heaven, the mechanics are German, the police are British, the chefs are French, the lovers are Italian and the entire place is organized and run by the Swiss.

_          In Hell, the police are German, the chefs are British, the mechanics are French, the lovers are Swiss and the entire place is organized and run by the Italians.

_          In Purgatory, the debtors are Portuguese, Irish, Italian, Icelandic, Greek and Spanish (PIIIGS) . . . and the entire place is disorganized and run by the ECB, IMF, FRD and GS.

_          The Swiss are adequate lovers . . . really.  They say that pigs get fed and hogs get slaughtered.  PIIIGS . . . get slaughtered.

_          The Irish do not know what they want in this life and are willing to fight to get it.  The Scots keep the Sabbath . . . and everything else they get their hands on.  The Welsh pray on their knees . . . and on their neighbors.  And the English . . . .

_          The Irish may know what they want in this life and may be willing to demand it.

_          In Europe, the Europeans are restless and restive.

. . .

[On May 16, 2012, Judge Katherine B. Forrest issued a ruling enjoining enforcement of the provisions for indefinite detention of suspects in the National Defense Authorization Act of 2012.  Judge Forrest’s ruling was issued as part of a lawsuit brought by seven plaintiffs that challenges the NDAA as a violation of “their free speech and associational rights guaranteed by the First Amendment as well as due process rights guaranteed by the Fifth Amendment of the United States Constitution.”  http://sdnyblog.com/wp-content/uploads/2012/05/12-Civ.-00331-2012.05.16-Opinion-Granting-PI.pdf.]

Bumper stickers of the week:

Austerity seems, well, . . . austere.

The fundamental rule of Economic Entropy:  What cannot go on forever will not go on forever.

I do want to exercise my constitutional rights after all