Privatization (News)

5 Ways the Government Used Our Money to Save Big Banks and Screw Us

Submitted by News Desk on Mon, 09/28/2009 - 12:41pm

The government hasn't exactly been forthcoming about how it has made buckets of money available to the banking sector. But here's what really happened. As we mark the end of the first year of the financial bailout, the public seems to regard the government's actions with a toxic combination of rage and confusion. People are pissed off but too bewildered to know what to do with that anger. The confusion isn't an accident. The government hasn't exactly been forthcoming about how it's made buckets of money available to the banking sector. When it does disclose some information--such as in July's SIGTARP report from the Treasury or the Federal Reserve's weekly balance sheet--it's in the form of intimidating descriptions, accounting mumbo jumbo and technical reports that do little to illuminate just what the hell is going on.

Luke Cole - Environmental Justice Lawyer Dies

Submitted by admin on Tue, 06/09/2009 - 5:24pm

Luke Cole, a San Francisco attorney who was one of the pioneers in the field of environmental justice - filing lawsuits for poor plaintiffs or people of color whose communities were being ravaged by corporate polluters - died in a head-on car crash Saturday in Uganda. He was 46.


Capitalism Triumphs Over Democracy as Bailout Passes the House

Submitted by News Desk on Fri, 10/03/2008 - 11:47am

The House voted this afternoon to pass a modified version of the Bush-Paulson bailout plan by a 263-171 margin. 172 Democrats and 91 Republicans supported the measure.

Before the vote, CNN reported, "At least 20 House members said Friday they had switched positions and would now support the proposed $700 billion bailout of the nation's financial system.

"Among the 20 converts is Rep. Jesse Jackson Jr., D-Illinois, his chief of staff, Kenneth Edmonds, said.

"Edmonds said Jackson is changing his vote because "he received assurances from (Sen. Barack Obama) that, if elected, his administration will aggressively use authority in the bill to prevent foreclosures and stabilize the housing market."

East Bay local agencies ask voters for money

Submitted by News Desk on Wed, 08/20/2008 - 10:00pm

East Bay voters face a double-edged ballot on Nov 4.

At the same time they pay more at the pump and the grocery store, cash-strapped local public agencies are asking for money, too.

Of the 58 local ballot measures on Alameda, Contra Costa and Solano County ballots, a third propose new or extended taxes totalling more than $750 million.

Nearly half the measures raise funds for schools either through bonds repaid with property taxes or parcel taxes.


Key System helped East Bay cities grow

Submitted by News Desk on Sat, 08/09/2008 - 10:00pm

With its unusual width and prominent location off Solano Avenue, Key Route Boulevard in Albany can't be missed.

Still, many residents may not know that this street is named after the Key System, a rail car line that connected East Bay cities such as Albany, Berkeley and Oakland to one another and to San Francisco.

"This is what people did to commute in the old days," said Christiaan Klieger, senior curator of history at the Oakland Museum of California.


Lennar sells take in Richmond condos

Submitted by News Desk on Mon, 07/28/2008 - 10:00pm

RICHMOND — Lennar Corp. has jettisoned its ownership stake in two condominium projects near Marina Bay here, another indicator that the housing market has yet to escape its multi-faceted meltdown.


Oakland City Council strikes down new tax

Submitted by News Desk on Tue, 07/22/2008 - 10:00pm

Oakland's fiscal problems got $12 million worse Tuesday, when the City Council rejected a landscaping and lighting tax increase approved by property owners two months ago but challenged for improperly weighting votes.

The loss of the anticipated tax funds bumps the city's projected revenue shortfall this year to $50 million - 10 percent of its general fund budget - and will send city officials scrambling in the coming months to make deep spending cuts, including possible layoffs.



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