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CNBC asks "Do the bankers get it?"

Clearly, they don't, as here's one "long time money manager's opinion of what should be done:

... he was disappointed that members of Congress from New York, especially Senator Charles E. Schumer and Senator Kirsten Gillibrand, had not come out swinging for an industry that donates heavily to their campaigns. “They need to understand who their constituency is,” he said.

My emphasis.

That statement dethrones Lloyd Blankfein, who without breaking into laughter said that "Everybody should be, frankly, happy. Wall Street got us into this mess, and Wall Street will get us out."

Yet, this "long time money manager" says it outright, the constituents of the policians are not the voters, but the heads of the financial industry.



Tue Aug 02, 2011 at 07:22 AM PDT

I Curse My Prescience! It failed me.

by SteinL

(Long diary without links. In comments, I would like you to list why my daughter and her friends should look differently at the US).

A chance encounter with an American couple in Norway sets things in stark relief, a few days after the terrorist attacks.

I've made a living from my ability to look into the future and see where things are headed. No, I don't have a crystal ball, it's not astrology, thrown bones, sticks or stones. It's just rational thinking, of the straight up kind, and because so few are thinking along those lines, I tend to come up with where we're headed sooner than most.

I predicted the serious downsides of outsourcing when all my clients were eager to close down here and go "cheapwhere". They didn't like hearing my caveats, all thinking someone else would pick up the ball they themselves were so eager to drop on society.

Long before it became obvious, I saw that corporations in the then industrialized world were bent on resetting wages and benefits by decades - "in order to be competitive with emerging markets". And they were willing to lie and bribe their way to get the legislation in place that would make it possible to destroy the communities where they had grown their prosperity.

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Live coverage of 134 hour journey from Bergen to Kirkenes, as a Norwegian coastal steamer makes the journey, in celebration of how they have helped tie the nation together.

The ship Nord Norge is now in the Lofoten Archipelago of Norway. Now the Midnight Sun magic begins. Several days to go of the live transmission before the journey is over - with the Midnight Sun illuminating the night. The journey has become a wonderful affirmation of community spirit in Norway.

The crossing is covered live by multiple cameras, and transmitted via satellite.

You can easily retrace the live transmission from earlier stages of the five day (134 hour) journey, by clicking on the interactive map through the link. It's estimated that 30-40% of Norwegians are watching the journey, which can be seen on the internet and through television. In Canada, it is being shown in train stations!

The coastal steamer line united Norwegians who were locked in by weather, mountains and fjords. For over a century, they have sailed the 1,500 miles from North to South and back, several steamers covering the route, ensuring that one arrives at each harbor daily.

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You do not really want to read this article, it is from 2004 and contains the personal report of Leuren Moret, who is a geoscientist who worked at the Lawrence Livermore Nuclear Weapons Laboratory. In 1991 he became a whistle-blower by reporting science fraud on the Yucca Mountain Project.

In 2004 he was invited to come to Japan, to review their nuclear plants, and to inspect the Hamaoka plant, which sits directly over the subduction zone near the junction of two tectonic plates.

Leuren Moret reported that it was not a question of whether Japan was headed for a major disaster involving a nuclear plant, but of when.

However, many of those reactors have been negligently sited on active faults, particularly in the subduction zone along the Pacific coast, where major earthquakes of magnitude 7-8 or more on the Richter scale occur frequently. The periodicity of major earthquakes in Japan is less than 10 years. There is almost no geologic setting in the world more dangerous for nuclear power than Japan -- the third-ranked country in the world for nuclear reactors.

"I think the situation right now is very scary," says Katsuhiko Ishibashi, a seismologist and professor at Kobe University. "It's like a kamikaze terrorist wrapped in bombs just waiting to explode."

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The Chilcot inquiry dealing with Great Britain's role in the Iraq War grinds on.
Former Attorney General Goldsmith now states beyond any doubt that Blair deceived Parliament about the legality of the war.

From The Independent:

In a written statement to the Chilcot inquiry, Lord Goldsmith, the former attorney general, suggested Mr Blair's statements to Parliament about the legality of the invasion were not compatible with the advice handed to the prime minister. He said Mr Blair's statements made him "uncomfortable". He described how he was cut out of discussions over the drafting of the UN resolution used as cover for the invasion of March 2003.

I have previously followed this in detail, and have written various diaries about Attorney General Goldsmith.
Goldsmith was forced to approve a "hop-scotch" interpretation of a series of U.N. Security Council Resolutions in order to justify a pre-emptive attack.
His testimony now is potentially devastating for Blair, who is scheduled to reappear before the Chilcot commission.

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The Swedish tabloid Aftonbladet has run an interview with one of the women who accused Julian Assange. Aftonbladet has previously entered into an agreement with Assange, where he is to be one of their columnists. The editor of the paper has chosen to not run Assange's first op-ed, scheduled to run tomorrow, until the facts of the accusations against Assange become clearer.

In the interview, the woman states that following discussions between herself and the other woman in the case, they chose to press charges. She says: "I was the victim of sexual assault."
She strongly rejects the various conspiracy theories now all over the internet.

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Swedish newspapers are reporting that Julian Assange has been accused of rape by two different women, and that Swedish police has issued "an arrest in his absence."
Assange was in Sweden on Wikileaks related business, his whereabouts now are not known.





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Someone's off message over at Warmongering Central.

Deputy Assistant Secretary of Defense David Lapan told NBC's Michael Isikoff that a special assessment team looking over the WikiLeaks Afghanistan war logs has found nothing that could damage national security.

Yesterday, concerned leaders in other NATO nations were on-message: "this represents a threat to our troops." David Lapan seems to have missed that memo, and in fact would be the person who would issue an assessment in the first place.
Gibbs was particularly incoherent when trying to express outrage yesterday, and little wonder. Maybe he was sending a message that he wasn't on board with the "official line?"

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Fri May 28, 2010 at 01:15 AM PDT

Lake Palin growing larger fast

by SteinL

Lake Palin

Lake Palin is a growing lake consisting of rogue hydrocarbons and dispersants, extending from its source off Louisiana into the Gulf, and carried by the Loop Current past Florida, up the East Coast and onwards into the Atlantic.
The term Lake is used, to denote a foreign body surrounded by water, instead of the term Sea.

Lake Palin at an early stage of formation
Lake Palin during the early stage of formation

While originally falsely estimated to be of limited size, it turns out that major portions of this hydrocarbon-lake was underneath the surface of the ocean, and that it is moving in enormous plumes, killing oceanlife in the process. Portions of Lake Palin make landfall according to the movements of the wind and currents, causing devastation to local economies and death to wildlife.
Original estimates as to the power of the source have been revised upwards. Lake Palin is presently growing by at least 20.000 barrels/day, and it is possible that supergrowth can occur, at which point the extension of Lake Palin will reach an order of magnitude which it is difficult to comprehend.

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Tue May 25, 2010 at 05:09 PM PDT

Nixon takes charge of Apollo 13 rescue!

by SteinL

A grateful NASA today welcomed a direct order from president Nixon instructing Houston that the White House would immediately take charge of the Apollo 13 rescue effort.
"The White House Switchboard is ready for the challenge," says Secretary of Transportation, John A Volpe. "We are taking over direct communication with the astronauts, and will be relaying messages from them to Houston and back. The president will be reviewing these messages, and will also be using the Oval Office as a test lab to find solutions for the astronauts."

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No, it's not a joke.
Gun sales to Goldman Sachs executives have hit a high, as reported by Bloomberg.

Dec. 1 (Bloomberg) -- "I just wrote my first reference for a gun permit," said a friend, who told me of swearing to the good character of a Goldman Sachs Group Inc. banker who applied to the local police for a permit to buy a pistol. The banker had told this friend of mine that senior Goldman people have loaded up on firearms and are now equipped to defend themselves if there is a populist uprising against the bank.

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A whistle-blower tells The Guardian that the IEA has been pressured to seriously exaggerate available oil reserves, as well as the ability to increase daily oil production.

The world is much closer to running out of oil than official estimates admit, according to a whistleblower at the International Energy Agency who claims it has been deliberately underplaying a looming shortage for fear of triggering panic buying.

More below the fold.

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