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Every since the Corporations have bought up the media, the very idea of 'honest journalism' has been a joke in America.  

I grew up with the likes of Edward R. Murrow and Walter Cronkite - I KNOW what real and honest journalism is all about.  

The 'propaganda' corporate machine that rules the airwaves now, is nothing more than a tool to control the message/masses, and at all costs, whatever 'they' do 'they' will make certain that stories like the one on Sibel Edmonds (on the diary recommended list) never, ever see the light of day.  God forbid, America should hear the 'truth' about America and England planning to divide up Iraq months prior to 9/11.    

Still, I must give people like Bill Moyers, Keith Olbermann and Rachael Maddow credit, where credit is due.  But sometimes I wonder how much longer we will have even an iota of what little 'journalistic integrity' is left on our television sets and radios.  That is why the below story caught my eye.

J.P. Morgan and Goldman Sachs Group Inc. are also among radio stations' leading lenders.
   

   

Goldman Sachs and other lenders just swapped debt for 85% of Nassau Broadcasting Partners LP's equity. Nassau operates 51 radio stations along the East Coast. Nassau had to put its Cape Cod, Mass., stations into a separate company, because Goldman has another radio investment in Cape Cod and didn't want its stake to cause a conflict with the FCC.

Throw companies like Tribune into the mix where JP Morgan will allegedly end up with an majority equity stake, and one wonders why Goldman and JPM were so eager to provide "rescue" financings to virtually the entire distressed media space: both companies knew too well that sooner or later they would end up with full equity control over essentially the most coveted industry: thousands of TV stations, radio channels, newspaper and magazines. If you thought the media propaganda was unbearable now, just wait. Nonetheless, one doubts that much will be made by the FCC of JP Morgan's or Goldman Sachs' stealthily encroaching control of the entire media world. After all, they already pretty much already control the airwaves. This way their domination of the 4th estate and the idiot tube will soon be complete.

Alas, all these funds operate primarily out of their offshore accounts. So while they just now start the long, hard process of convincing the FCC they have nothing but the best P&L intentions, Goldman and JPM, or better known as the Treasury and the Fed, will have long cemented their controlling stakes in a streamlined, deleveraged media industry.

http://www.zerohedge.com/...

Somehow I doubt very seriously if the FCC will need 'much' convincing, but is certainly does not bode well for our country. Goldman Sachs - the great Squid - has it's tentacles in everything these days - our government - the Congress - the Federal Reserve -  and now they are buying up the media.  Too big to fail?  Or too big and protected by the very Corporations that own our government?

"... the media serve the interests of state and corporate power, which are closely interlinked, framing their reporting and analysis in a manner supportive of established privilege and limiting debate and discussion accordingly."

"The smart way to keep people passive and obedient is to strictly limit the spectrum of acceptable opinion, but allow very lively debate within that spectrum - even encourage the more critical and dissident views. That gives people the sense that there's free thinking going on, while all the time the presuppositions of the system are being reinforced by the limits put on the range of the debate."

                                               Noam Chomsky

Every day, the media gets more inane.  So I thought since Goldman Sachs and JP Morgan will be our new 'media masters' in the upcoming months - perhaps we should do a small review of what they have accomplished to date:

from Glen Greenwald at Salon:

Exactly as one would expect, the prime beneficiaries of all of that pillaging continue to grow. The banks that almost brought the world economy to collapse but then received massive public largesse because they were "too big to fail" are now bigger than ever; as The Washington Post delicately put it: "The crisis may be turning out very well for many of the behemoths that dominate U.S. finance." Everything involving the government turns out well for these "behemoths" because they own and control the U.S. Government. Just this week, The Post detailed how the government and Wall St. are now so intertwined that banking executives are spending vast resources to increase their presence in Washington:

.....

As previously documented, Goldman Sachs itself has a virtual lock on the top Treasury positions no matter which party is in power. The vaunted bipartisan "Baucus plan" was literally written by a Baucus aide who just left her position as Vice President of Wellpoint to write the health care reform plan for the Senate -- a revelation which barely caused a ripple. And the Supreme Court is on the verge of striking down the few limits on corporate involvement in our politics, a ruling which may (or may not be) constitutionally defensible but which will flood American politics with so much corporate money that it will give new meaning to the term "oligarchy."

So with this massive pillaging of America's economic security and the control of American government by its richest and most powerful factions growing by the day, to whom is America's intense economic anxiety being directed?

Here is how Goldman Sachs started 'taking over our country':

Consider below a simple time line from one of the strangest periods our financial markets had ever experienced. As you read it, keep in mind that following the demise of Bear Stearns, the strictest interpretation of the so-called investment bank "Bulge Bracket" included just four entities: Goldman Sachs (GS), Lehman Brothers, Merrill Lynch and Morgan Stanley (MS).

   * September 9: The short attack on Lehman Brothers begins in earnest.
   * September 14: The New York Times (NYT) reports Lehman will file bankruptcy.
   * September 15: Goldman Sachs share price begins to wilt. Merrill Lynch announces it will be sold to Bank of America.
   * September 17: Goldman Sachs’ share price continues to plummet. The SEC announces "new rules to protect investors against naked short selling abuses".
   * September 18: Goldman Sachs’ share price continues to plummet.
   * September 19: The SEC "halts short selling of financial stocks to protect investors and markets".  Goldman Sachs’ share price posts a strong gain.
   * September 22: Goldman Sachs and Morgan Stanley, the two remaining members of the "Bulge Bracket" announce their intentions to transition to bank holding companies, giving them access to lending facilities of the US Federal Reserve (an organization with which Goldman has an uncommonly tight relationship).

The most interesting event to come of that most eventful period may have been the SEC’s September 19 ban on legitimate short selling. What makes it so enigmatic is the fact that not even the most vocal opponents of illegal naked short selling have ever even hinted at the need to restrict legitimate shorting. In fact, Patrick Byrne himself compared the ban to limiting motorists to making only right-hand turns. Here is a theory that might explain what was going on.

An examination of the volume of both naked and legitimate shorting of Goldman Sachs in September of 2008 reveals something very interesting: while there was an enormous amount of short selling taking place, there was essentially no naked shorting of Goldman shares. Indeed, short selling accounted for a third of total volume on September 15 and 16, while failed trades accounted for less than 0.07%, suggesting shortable Goldman shares were in abundant supply.  This conclusion is supported by an analysis of the stock loan rebate rate that prevailed for Goldman shares during the period in question: a very reliable indicator of the scarcity of shares available for short sellers to borrow, where a lower rebate rate indicates a more limited supply.

http://www.marketrap.com/...

There is a 'silent coup d'état' going on in our nation.  Of course, this very silent coup d'état would never be mentioned 'out loud' by anyone in the 'media'- and people will of course refer to any such idea of Goldman Sachs and JP Morgan taking over our nation' media as nothing more than just another 'conspiracy theory'.  That is the excuse that both Goldman Sachs and the Federal Reserve throw out whenever anyone dares to get to close to look behind the curtain.  

But the facts are out there for anyone to see. It's getting very scary out there in America when - what 'too big to fail' really means is: 'too big for anyone to question.'

Michael Moore wants Goldman Sachs investigated - so do I:

Originally posted to Badabing on Wed Sep 23, 2009 at 05:55 PM PDT.

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Comment Preferences

  •  May Not Be All That Important Any More (15+ / 0-)

    SCOTUS is about to strike down restrictions on corporate campaign speech.

    Between the media's unique 1st Amendment press freedom, and the new full political speech freedom for all corporations, I think the media will effectively be a political party from now on.

    The media's been fighting the people pretty hard for 20 years now in any case, every year more overtly than the last.

    We are called to speak for the weak, for the voiceless, for victims of our nation and for those it calls enemy.... --ML King "Beyond Vietnam"

    by Gooserock on Wed Sep 23, 2009 at 06:00:10 PM PDT

    •  Then the Corporate Coup will be complete (4+ / 0-)
      Recommended by:
      terabytes, Badabing, Lujane, Larsstephens

      Candidates will compete for the best sponsors not votes.

      The financial behemoths are launching an all out war against Obama's modest financial reform

      This comes from Common Cause

      Financial Industry Spends Big As Obama Pushes for Regulatory Reform

      For the first six months of 2009, the financial industry spent $42 million lobbying Congress, as Obama pushes for reforms that would better monitor the financial system and the products that banks and other institutions sell to consumers with the goal of avoiding future economic meltdowns like the one that plunged the United States deep into recession.

      In addition to lobbying and advertising, the securities and investment industry has given more than $14 million in campaign contributions this year, on top of the $156 million it gave during the last election cycle, according to data from the Center for Responsive Politics. Because the Democrats control Congress, nine of the top ten recipients of securities money so far this year are Democrats:

      Schumer, Charles E (D-NY)   $678,700

      Gillibrand, Kirsten (D-NY)      $347,600

      Reid, Harry (D-NV)                 $336,450

      Dodd, Chris (D-CT)                 $209,112

      Murphy, Scott (D-NY)             $155,050

      Bennet, Michael F (D-CO)       $143,655

      Himes, Jim (D-CT)                  $139,386

      Dorgan, Byron L (D-ND)         $118,250

      Wyden, Ron (D-OR)                $105,400

      Cantor, Eric (R-VA)                 $98,100  

  •  Excellent. New to Me! (21+ / 0-)

    Once Americans lost the Fairness Doctrine and anti monopoly laws -- they surrendered ownership of the message to the corporations.

    ____________________ Only the small secrets need to be protected. The big ones are kept secret by public incredulity. -- Marshall McCluhan

    by Pluto on Wed Sep 23, 2009 at 06:05:25 PM PDT

  •  Offshore accounts? That's adorable. (6+ / 0-)

    It ought to be grounds for a fucking naval invasion of the island in question.

    Nothing is true; everything is permitted.

    by jumpjet on Wed Sep 23, 2009 at 06:07:35 PM PDT

  •  Media and Hard Times (8+ / 0-)

    During the last Great Depression the big guys bought up lots of community-based, union-owned, and educational radio stations.

    Please give everyone a chance to get active:

    JOIN THIS EFFORT, please:

    http://stopbigmedia.com/

    Media Reform Action Link http://stopbigmedia.com/

    by LNK on Wed Sep 23, 2009 at 06:09:37 PM PDT

  •  They are also quietly cornering the carbon (10+ / 0-)

    credit market.   The vultures are circling, to pick at the newest carbon carrion, and many of them are purportedly on "our side".  Let's start looking at who might benefit when this new market is established.  

    We might not like what we see.  

    Having credibility when making an argument is the straightest path to persuasion.

    by SpamNunn on Wed Sep 23, 2009 at 06:15:06 PM PDT

  •  Bring back the Fairness Doctrine (6+ / 0-)

    www.Mad As Hell Doctors.com getting great press, RVing from OR through cities for single payer. (DC by 9/30/09)

    by divineorder on Wed Sep 23, 2009 at 06:15:21 PM PDT

    •  Not necessary. We have the Internet. (3+ / 0-)
      Recommended by:
      doc2, Badabing, Sean Parnell

      I don't want the government, no matter who is in charge, controlling what I can change the channel for.

      Having credibility when making an argument is the straightest path to persuasion.

      by SpamNunn on Wed Sep 23, 2009 at 06:16:43 PM PDT

      [ Parent ]

      •  I See the Brainwashing Has Worked. (8+ / 0-)

        Which is why America gets exactly what it deserves.

        ____________________ Only the small secrets need to be protected. The big ones are kept secret by public incredulity. -- Marshall McCluhan

        by Pluto on Wed Sep 23, 2009 at 06:42:57 PM PDT

        [ Parent ]

        •  I refuse to support giving the Federal government (3+ / 0-)
          Recommended by:
          mwmwm, Badabing, Sean Parnell

          the power to decide what I listen to.  With satellite radio and the Internet, the marketplace will determine what we listen to.  Even small markets will support information outlets for every point of view.  Those who are calling for the return of the Fairness Doctrine want anything but fairness.  They want to muzzle assholes like Glenn Beck.

          The best disinfectant is sunshine.  I want that asshole to be seen by as many people as possible.  

          Having credibility when making an argument is the straightest path to persuasion.

          by SpamNunn on Wed Sep 23, 2009 at 06:56:06 PM PDT

          [ Parent ]

          •  That's Exactly What I Mean (3+ / 0-)
            Recommended by:
            alizard, Badabing, Larsstephens

            The fairness doctrine only refers to public-owned bandwidth -- like AM radio, not FM and not websites. Not cable TV. Glenn will still be on the radio for an hour each day, but the station owner has to allow equal time for the truth or an opposing view on political matters.

            All you seem to know about it is the hate-lies that the right wing spews. The fact is, Americans were much more intelligent and thoughtful fifty years ago when it came to deciding important issues of the day. The democratic process did not fail until it was revoked and people got stupid.

            ____________________ Only the small secrets need to be protected. The big ones are kept secret by public incredulity. -- Marshall McCluhan

            by Pluto on Wed Sep 23, 2009 at 09:27:34 PM PDT

            [ Parent ]

            •  Umm (0+ / 0-)

              50 years ago a lot of Americans thought segregation was fine, and were more than a little worried about a "papist" sitting in the White House.

              There's no doubt democracy is enhanced by a more intelligent and thoughtful citizenry, but limiting what Americans can hear is not a step in the right direction.

              And keep in mind there are plenty on the right who believe the liberal media brainwashes Americans into voting Democrats into office. Imagine giving some of them the power you're seeking?

              Sean Parnell
              President
              Center for Competitive Politics
              http://www.campaignfreedom.org

              •  More Right Wing Brainwash (1+ / 0-)
                Recommended by:
                Badabing

                limiting what Americans can hear is not a step in the right direction

                It's expanded. Not limited.

                I think it's disgraceful for you to drop on a thread like this with not one fact or reference of fact to back up a hate-lie.

                ____________________ Only the small secrets need to be protected. The big ones are kept secret by public incredulity. -- Marshall McCluhan

                by Pluto on Thu Sep 24, 2009 at 01:10:20 PM PDT

                [ Parent ]

            •  FM not bandwidth? (0+ / 0-)

              I think the FCC may disagree, not to mention every physicist and radio engineer in the country.

              http://en.wikipedia.org/...

              Sean Parnell
              President
              Center for Competitive Politics
              http://www.campaignfreedom.org

      •  That's some choice you got there (5+ / 0-)

        I don't want the government, no matter who is in charge, controlling what I can change the channel for.

        The gov't. on one side, or the corporations on the other.

        At least the gov't. is nominally chosen by and accountable to the voters. How much choice do we get in CEOs and boards of directors? The gov't. is, at least in theory, intended to benefit the citizenry as a whole, while corporations are intentionally constructed expressly for the sole benefit of a tiny elite group of management and shareholders.

        Al Qeada is a faith-based initiative.

        by drewfromct on Wed Sep 23, 2009 at 07:03:00 PM PDT

        [ Parent ]

        •  Government vs. corporations (5+ / 0-)

          Is the way it should be.  Representative government is our shield and sharp sword against the evils of corporate tyranny.  At least, that's how it should work.

          Nothing is true; everything is permitted.

          by jumpjet on Wed Sep 23, 2009 at 07:05:38 PM PDT

          [ Parent ]

          •  The problem is - is that now we can't tell (5+ / 0-)

            anymore where the lines between the Corporations/Government begins and ends.  They are morphing into one large beast, and nothing proves that more than what has been going on with the Health Care Reform fight.

            There hundreds and thousands of lobbyists in Washington DC making absolutely certain that our 'whorish Congress' people vote in their special interests, and 'we the people' are 9 times out of 10 pushed out of 'circle of power'.

            America is the only nation in history which miraculously has gone directly from barbarism to degeneration without the usual interval of civilization.

            by Badabing on Wed Sep 23, 2009 at 07:15:30 PM PDT

            [ Parent ]

        •  "Oooh. I don't like what they said. (1+ / 0-)
          Recommended by:
          Sean Parnell

          We should be able to muzzle Rush Limbaugh and Glenn Beck. "

          What happens when they control the airwaves?

          Having credibility when making an argument is the straightest path to persuasion.

          by SpamNunn on Wed Sep 23, 2009 at 07:55:11 PM PDT

          [ Parent ]

      •  are you kidding? I hope this is snark (4+ / 0-)

        The internet needs a government of the people, by the people, for the people to keep it open and neutral.  

        And "controlling what I can change the channel for"???  As if a choice between Fox, NBC, CNBC, etc. is a choice worth having?

    •  HAHAHAHAHAHAHA!! (1+ / 0-)
      Recommended by:
      Larsstephens

      I love the outrage seeping into the prose in that article.  HURF DURF HOW DARE THEY TRY TO REGULATE FASCIST DEMAGOGUES!!

      Nothing is true; everything is permitted.

      by jumpjet on Wed Sep 23, 2009 at 06:17:27 PM PDT

      [ Parent ]

  •  Keep perspective...this is the big showdown (8+ / 0-)

    Right wing reactionary conservative monopoly corporate commercial mass media has been engaging in a 24/7 propaganda blitz on all channels for 30 years now, yet failed to prevent very substantial trends to the left in public opinion, on all the most important issues.

    Despite everything they have done to assert their absolute social, cultural and economic hegemony, the people stepped up and voted for Obama and a Progressive Caucus majority within the Democratic Majority.  Public opinion has reached a critical mass.  The right is no longer politically correct in this country.

    This is a very significant shift in power, despite everything they could throw at us.  We are on the very brink of having sufficient plurality in Congress to actually cut off bullshit "debate" and sabotage, to force through progressive programs.

    Go figure...they looted the treasury and sabotaged the economy on their way out the door, grabbing what they could, while they could, and now they will buy up all the media...and it's all about totally gearing up for the big showdowns in 2010 and 2012, to try to seize back power from the Democrats, and/or further corrupt them to the extent that they can.

    But I'm not particularly worried.  When we have a Progressive Caucus super-majority in Congress, and down the ladders of power, to the state and local levels on their coat tails, we will completely reform media, campaign financing, etc. etc., toward establishing the first real democracy ever, anywhere.

    We will not be denied.

    This is the USA, and we hate fascists.

    We want democracy.

    If anyone can do this, we can.

    No matter how much they lie and slander, we'll get the word out, and the masses will rise up, to go to the polls, to purge the right from all levers of power.  

    We'll be out there, knocking on every door, talking it up, to call off the electoral boycott, and seize the power.  

    All Power to the People!

    Seize the Time!

    All Out for 2010 and 2012!

    "...a printing press is worth 10,000 rifles..." Ho Chi Minh

    by Radical def on Wed Sep 23, 2009 at 06:34:58 PM PDT

    •  I like your spirit, I hope it catches off steam (3+ / 0-)
      Recommended by:
      Badabing, Larsstephens, Radical def

      like a virus to a lot of people.

      ...We have many more issues that bind us together than separate us!

      by ThisIsMyTime on Wed Sep 23, 2009 at 06:57:45 PM PDT

      [ Parent ]

      •  As Obama has said "...you'll have to make me..." (2+ / 0-)
        Recommended by:
        Larsstephens, ThisIsMyTime

        All this time, many hard-left, anarchist and progressive elements have been calling for electoral boycott, or splitting the vote for guaranteed loser "alternatives".

        But the people of this great nation rejected those calls for boycott and splitting, and "voted with their feet", by marching to the polls to elect Obama and a Progressive Majority.  Unprecedented numbers of youth, and virtually all people of color.

        Now, the left, etc. are relentless slagging Obama and "teh Democrats" for the fact that the Blue Dogs and Republicans still retain sufficient plurality to block motion.

        But that's nothing but a lot of jive, to demoralize and split the Democrats, trying to peel away people for their boycott and splitting lines.  I don't think the masses are going to buy it, any more than they bought it before.

        The left needs to get on the bus, or get kicked to the curb.

        It's time to drop all the dogmatic, doctrinaire, rhetorical 100-year old catechisms of "revolutionary"  theory and practice, and all the posturing and posing for sectarian hegemony...to unite, and seize the power.

        We need to follow the leadership of the masses, who have chosen to step up and press the contradictions democratically, electorally.

        People need to go down to their local Democratic Party headquarters and take it over, by being the ones who show up to do the work.

        Local elections this November will be indicative of how viable the grassroots struggle for democracy is in this country is becoming.

        In my county, the local Central Committee Chair is an officer of one of the principal environmental litigation organizations to protect the wilderness, etc.  

        Last time, on Obama's coat tails, we elected a local progressive Democrat to Congress, to replace a conservative Republican...in a traditionally red neck, conservative rural area.  

        This required going door to door, talking to everyone, over and over, and then calling them on the phone, to get them out to vote.  That's how it's done.  

        People aren't stupid.

        Everyone needs health care, and some hope, for a change.

        We're struggling to wrest local control from the Chamber of Commerce.

        But the right will never submit voluntarily to the popular democratic will.

        They must be suppressed, democratically.

        A mere "voice" or "seat at the table" won't cut it.  You need a super-majority, to get 'er done, on any given topic or issue, to escape the jive "debate" and sabotage, whether it's the local city council, and who you're going to hire for the local police chief and development officer, etc, or at the state and national levels.

        Democracy is the most fundamental revolutionary concept.

        It will mean the death of capitalism as we now know it, and of it's moribund form, fascism.

        "...a printing press is worth 10,000 rifles..." Ho Chi Minh

        by Radical def on Wed Sep 23, 2009 at 07:45:34 PM PDT

        [ Parent ]

        •  RD...you are on fire...I second your action (2+ / 0-)
          Recommended by:
          Larsstephens, Radical def

          plan. Well said! That is why I am going to be going door to door to get Craig Deeds elected the next Governor of VA. Thanks for that motivational speech. I like it!

          ...We have many more issues that bind us together than separate us!

          by ThisIsMyTime on Wed Sep 23, 2009 at 08:06:11 PM PDT

          [ Parent ]

          •  Right on...thx for kind words! (1+ / 0-)
            Recommended by:
            ThisIsMyTime

            oww!  Deeds may be a hard sell, for absolutist idealist lefties!  While he does take a more or less progressive position on some issues, he looks somewhat more like a Blue Dog, from his wiki.  

            But I have no doubt that he's "better" then a Republican, and that dude McAuliffe (or whatever), who he beat in the primary, doesn't seem particularly appealing either.

            I'm curious about conditions in the South...what prospects do you see, for public sentiment moving to the left, or, at least, toward more progressive views, in opposition to the right?

            Do you see evidence that people are awakening from the thrall of Faux "News" and the 24/7 media blitz, and looking for alternatives to the Chamber of Commerce, and right wing conservative reactionary fundamentalist lines?

            I know not everyone may be ready, willing or able to abandon what has become "common knowledge" among such constituencies...but I wonder, do you see motion?  

            Also I wonder to what extent the left, which I'm sure must exist there, even if they may feel compelled to keep a low profile, or to moderate their rhetoric somewhat, heh, are getting on the bus, to abandon the calls for electoral boycott and splitting, to stand down from their indiscriminate slagging of Obama and "teh Democrats".

            Are those people getting it yet, that the problem is the Blue Dogs, and the right, and not necessarily "teh Dems", per se?  Do you see any signs that the left is ready to move off their stubborn rejection of all bourgeois electoral struggle, "on principle", and to unite and step up, to seize the power?

            And then there are the disenfranchised elements, the poor and lower income working people in general, who have always tended to be more or less demoralized over any prospect for real hope, or change, or any real "difference" between the parties, in that regard.

            Do you see motion there?

            "...a printing press is worth 10,000 rifles..." Ho Chi Minh

            by Radical def on Thu Sep 24, 2009 at 08:38:32 AM PDT

            [ Parent ]

            •  You are spot on...Deeds is a blue dog but by far (1+ / 0-)
              Recommended by:
              Radical def

              better than his opponent asshat McDonnell. Still, there is huge progress being made here in VA where the last time it voted for a Democrat in a Presidential Election was in 1964 when Lyndon Johnson won. The fact that the population increase in major populated areas in VA (Northern VA, Richmond, and Norfolk) have tipped the balance in favor of progressives. One thing to remember is also, VA is one of the very well educated states in that you can't easily Faux them like deep south. I think overall, we seem to have crossed the boarder line. That is why it is important to make sure folks go out and vote. As you know the problem with us progressives is not we don't know what we want, we just don't act when the crucial time comes (voting day). That is why effort to GOTV especially in the poor and lower income working people areas is going to be crucial to win this election for Governor. Overall, the MD and DC progressive population is certainly pushing its ideology to its neighborhood State and I am optimistic the road ahead is going to be while contentious in the short term, in the long run the road appears to favor a progressive ideology.

              ...We have many more issues that bind us together than separate us!

              by ThisIsMyTime on Thu Sep 24, 2009 at 09:29:45 AM PDT

              [ Parent ]

              •  Yes, I think critical mass has been reached... (1+ / 0-)
                Recommended by:
                ThisIsMyTime

                Public opinion has long trended to the left, with very substantial majorities on all the most important issues...but I do think that has reached a cumulative tipping point, and finally found expression now in the last election, as evidenced by that historic reversal in Virginia.

                Looking forward to inspiring reports from the trenches, from you and others on this topic, as you engage the masses in what could, conceivably, prove to be the most significant political struggle in this country since the revolution.

                It's very clear that the right considers this to be a very critical, decisive showdown, heh...the more hysterical and draconian their rhetoric and practice becomes, the more obvious that should be, even to the most cynical and demoralized elements on the left.

                "...a printing press is worth 10,000 rifles..." Ho Chi Minh

                by Radical def on Thu Sep 24, 2009 at 10:13:38 AM PDT

                [ Parent ]

  •  They are not "buying" any media companies (4+ / 0-)
    Recommended by:
    tikkun, bronte17, Radical def, jumpjet

    whatsoever. They are foreclosing on equity in these companies because the debt was not paid. When a corporation defaults on its debt, its creditors seize the company. Nobody is buying anything.

    I'm in the pro-Obama wing of the Democratic Party.

    by doc2 on Wed Sep 23, 2009 at 06:45:09 PM PDT

    •  But it does give them control over local media. (3+ / 0-)
      Recommended by:
      Badabing, Radical def, ThisIsMyTime

      Which is dangerous, because investment bankers want nothing more than to increase their own power and sway over the public.  Banks should not be in the business of having any control of the media.

      Nothing is true; everything is permitted.

      by jumpjet on Wed Sep 23, 2009 at 06:50:19 PM PDT

      [ Parent ]

      •  WTF do you expect them to do? They (3+ / 0-)
        Recommended by:
        Mnemosyne, Radical def, jumpjet

        lent money to companies - that's what they do for a living - and those companies have defaulted. Typically, the receiving banks just try to keep the companies alive until they can be sold. So for now, the banks will own some media companies. They don't like it either. But the only alternative would be to make it illegal for banks to lend media companies money, which would not be good for anybody. Do you have an alternative solution?

        I'm in the pro-Obama wing of the Democratic Party.

        by doc2 on Wed Sep 23, 2009 at 06:57:26 PM PDT

        [ Parent ]

        •  Is that you Jim Cramer? nt. (1+ / 0-)
          Recommended by:
          Radical def

          America is the only nation in history which miraculously has gone directly from barbarism to degeneration without the usual interval of civilization.

          by Badabing on Wed Sep 23, 2009 at 07:10:13 PM PDT

          [ Parent ]

          •  Nationalize the media...under Progressive Caucus (0+ / 0-)

            While I must, of course, object to monopoly corporate control over media, commercially, or via their control of government, I think actual democratic control of media is appropriate.

            This is a sticky subject, of course, in terms of avoiding slippery slopes and reversals in political hegemony, heh...

            As with the Patriot Act.  

            Clearly, very strict popular democratic controls are necessary, in either instance.

            I have no problem with the Patriot Act, or similar measures being used to go after actual terrorists (including seditious domestic right wing extremists, who are among it's most vociferous opponents, heh...go figure).

            But, obviously, that must be very strictly restrained to legitimate "targets", and not used to illegitimately suppress legitimate political opposition, free speech, civil rights, etc.

            Obama, initially opposing FISA, was forced by the real politik to make a perhaps onerous compromise, but at least he forced them to include a requirement that they must go before a judge first, to obtain permission, based on a real need, to engage in the snooping, in each instance...and promised to revisit the topic later, when the balance of power became more favorable.

            With media, I think basic anti-trust measures clearly must be implemented, at the very least.  Major expansion of the mandate and funding for national public television, radio, and online media would be a good thing, as long as it's really fair and balanced, and not run by Faux "News" constituencies...

            I don't think we really "need" a fascist opposition in this country, to be democratic, though, and I do think this great nation is moving forward, in that regard.  

            Public opinion has long trended to the left, on all the most important issues, reaching a critical mass, with very substantial majorities, years ago...which I think has finally found expression with the last election, and reached a decisive tipping point.

            The absolutely hysterical, draconian rhetoric and practice on the right clearly indicates their own perception that this is, indeed, a decisive, historic  moment.

            Democracy, and democratic control over government policy, and strict regulation, including more meaningful "equal access", and "fairness doctrine" or whatever they used to call it, in media, need to be much more substantially developed.

            While things may look bleak right now, to the absolutist idealist left, as well as the right, lol...I think we are moving in the right direction, and that any seeming setbacks now are merely temporary thrashing about by the dying dinosaur of monopoly corporate fascism.  

            While it's making a big mess, and doing a lot of damage right now, we'll be able to clean that all up, with a Progressive Caucus super-majority in Congress, and down the ladders of power to the state and local levels, to a very substantial degree, after 2010 and 2012.

            The right are no longer politically correct in this country, and we are NOT going back.

            All Out for 2010 and 2012!

            All Power to the People!

            "...a printing press is worth 10,000 rifles..." Ho Chi Minh

            by Radical def on Thu Sep 24, 2009 at 10:47:46 AM PDT

            [ Parent ]

        •  Regulate them so that Financial Institutions (2+ / 0-)
          Recommended by:
          Badabing, Radical def

          can't have any kind of majority ownership in Media Co. Find an entity that can take over, assist in structuring a feasible financing, sell the companies equity piece by piece to recover their investment, and finally write-off their loss. That is what I expect them to do doc.

          ...We have many more issues that bind us together than separate us!

          by ThisIsMyTime on Wed Sep 23, 2009 at 07:17:50 PM PDT

          [ Parent ]

          •  That's pretty close to what you're going (1+ / 0-)
            Recommended by:
            Radical def

            to see in these situations, media or otherwise. But while they own them, they have to control them, even if they hired a third party to manage them (which they usually do). The debt covenants in any financing will enable the lenders to take over the board, that is the way finance works.

            I'm in the pro-Obama wing of the Democratic Party.

            by doc2 on Wed Sep 23, 2009 at 07:31:24 PM PDT

            [ Parent ]

            •  That is where the regulations comes to keep (2+ / 0-)
              Recommended by:
              Badabing, Radical def

              things in check. I personally think these folks when all is said and done has to wash out their hands out of the media business -- conflict of interest? Further, market share of the Media can be restricted to a percentile of some number so that there will not be a monopoly.

              ...We have many more issues that bind us together than separate us!

              by ThisIsMyTime on Wed Sep 23, 2009 at 07:59:54 PM PDT

              [ Parent ]

    •  Let's see - if I don't pay my mortgage and the (1+ / 0-)
      Recommended by:
      Larsstephens

      'Bank' forecloses that means the Bank owns my home.  

      Quibble if you must, but Goldman Sachs and JP Morgan are eating these media companies up as fast as they can.  If they own the companies, then they can maintain control of said companies - whether it is under another 'propped up' Corporate name or not.

      Zero Hedge will, over the coming week, demonstrate in which media companies Goldman and JP Morgan currently are the key fulcrum security holders, and where they will soon have equity-stake dominance, read: full freedom to dictate what, who and why, when and where appears in print or on the airwaves. We will also provide a breakdown of just how many TV station affiliates, radio and cell phone towers, newspapers, magazine, pamphlets and blogs will shortly be under the full equity control of the two Wall Street firms.

      http://www.zerohedge.com/...

      America is the only nation in history which miraculously has gone directly from barbarism to degeneration without the usual interval of civilization.

      by Badabing on Wed Sep 23, 2009 at 06:57:24 PM PDT

      [ Parent ]

      •  They do not want to own these companies, (2+ / 0-)
        Recommended by:
        Mnemosyne, jumpjet

        they never did. Why don't you wait until they've owned them for a while and actually shown that they intend to own for the long haul? Right now, it's pretty clear that they own them only by default, and that they will sell them as soon as practicable.

        I'm in the pro-Obama wing of the Democratic Party.

        by doc2 on Wed Sep 23, 2009 at 06:59:10 PM PDT

        [ Parent ]

        •  But who are we to trust Goldman Sachs? (1+ / 0-)
          Recommended by:
          Badabing

          They're vipers- or vampire squids, to use Matt Taibbi's lexicon.  We can never, ever assume their intentions are pure or straightforward.  Better to suspect the worst of them in any affair they enter into and be prepared to respond accordingly.  The same holds for every other large bank in this country.

          Nothing is true; everything is permitted.

          by jumpjet on Wed Sep 23, 2009 at 07:01:28 PM PDT

          [ Parent ]

          •  You know what? I think you've (1+ / 0-)
            Recommended by:
            jumpjet

            said what really is behind this. People here just hate banks and corporations so much that they can't even rationally approach a situation. In this case, the banks did no wrong, they lent a company money in good times and now they are stuck with money-losing, defunct organizations. And somehow they are the bad guys again...

            I'm in the pro-Obama wing of the Democratic Party.

            by doc2 on Wed Sep 23, 2009 at 07:03:47 PM PDT

            [ Parent ]

            •  Yes, you're correct. (3+ / 0-)
              Recommended by:
              mwmwm, Badabing, Larsstephens

              I hate banks.  I hate corporations.  I despise them.  I believe they should only exist under the strictest and most draconian of regulations.  Any liberty they are given they will use to seize the power of the government away from the citizenry and pervert it to further their own insatiable demand for power and wealth.

              If I had my way, there would be no privately-owned banks of significant size in this country.  There would be regional banks, and then above that there would be a national bank, chartered by the federal government.  This would also replace the Federal Reserve and perform its duties.

              Actually, if I had my way, banking as we know it in this country would cease to exist because I would outlaw the practice of lending at interest.

              Nothing is true; everything is permitted.

              by jumpjet on Wed Sep 23, 2009 at 07:08:43 PM PDT

              [ Parent ]

        •  How about because Goldman Sachs are the scum (1+ / 0-)
          Recommended by:
          jumpjet

          of the earth?  How about I would trust the devil himself before I would trust anyone at Goldman Sachs how about this description:

          "They're a foul group of narcissistic scoundrels who have raped the present and future economies of the world, rigged the markets by exploiting what-amounts-to-software-glitches to extract as much cash as possible from a stock market corrupted by those same people without ever building or manufacturing or creating anything of real value to society, jammed it's money-sucking blood funnel into not only the markets but into Congress, the Senate, the Presidency, the Justice Department, newspapers, every talking head on teevee and it's mechanical robo-claw/feeding tube into the Treasury and Federal Reserve as well, thereby perverting democracy and destroying the lives and bank accounts of millions of Americans and trillions of dollars of fictional wealth by their irresponsible leveraging of puffed-up financial voodoo instruments ,leeching off the government teat in what can only be described as Ayn Rand's wet dream of a free market company gone berserk yet powerful enough to corrupt the system in it's favor to bleed every living thing in sight dry?"

          If you want to give them 'the benefit of the doubt' doc2, that's your business, but I know what these friggin blood suckers have done to our country, and they are getting away with economic terrorism and on top of that, being 'protected' by our government.

          America is the only nation in history which miraculously has gone directly from barbarism to degeneration without the usual interval of civilization.

          by Badabing on Wed Sep 23, 2009 at 07:05:52 PM PDT

          [ Parent ]

          •  Do you know any Goldman employees? (1+ / 0-)
            Recommended by:
            jumpjet

            I'm in the pro-Obama wing of the Democratic Party.

            by doc2 on Wed Sep 23, 2009 at 07:11:12 PM PDT

            [ Parent ]

            •  Do you work for them? If so, then I do now. (0+ / 0-)

              I guess you haven't bothered to read the three jillion articles being written about them throughout the entire world.  

              Why are you acting like a 'cheer leader' for them?

              Here's an article that might open your eyes by Matt Taibbi in Rolling Stone.  It has been hailed as one of the best pieces in journalism and the amazing thing about it, is that it's the fucking truth.

              http://www.rollingstone.com/...

              America is the only nation in history which miraculously has gone directly from barbarism to degeneration without the usual interval of civilization.

              by Badabing on Wed Sep 23, 2009 at 07:24:32 PM PDT

              [ Parent ]

              •  You said they're all scum. So I asked if (0+ / 0-)

                you know any of them at all. I figures you must, to call a group of people scum. I don't work there, never have by the way. But I know many current and former GS people. I've found that they're good, bad, and in between. Sort of like any other group of people I've encountered.

                I'm in the pro-Obama wing of the Democratic Party.

                by doc2 on Wed Sep 23, 2009 at 07:27:07 PM PDT

                [ Parent ]

        •  And how do you know 'they' don't want to own them (0+ / 0-)
          - do you have some kind of insider information?

          America is the only nation in history which miraculously has gone directly from barbarism to degeneration without the usual interval of civilization.

          by Badabing on Wed Sep 23, 2009 at 07:26:46 PM PDT

          [ Parent ]

          •  Read the article. If you understand the basics (0+ / 0-)

            of 21st century finance, you'll understand exactly what is happening. It's not just the media sector that is having trouble repaying its debt. But this is not rocket science if you have a finance background.

            I'm in the pro-Obama wing of the Democratic Party.

            by doc2 on Wed Sep 23, 2009 at 07:29:25 PM PDT

            [ Parent ]

  •  Scary confluence (3+ / 0-)
    Recommended by:
    Badabing, Larsstephens, Radical def

    and while I think there are "global checks and balances" of a variety of kinds -- I am nervous about the info that you provide.

    We will know fairly quickly what absurdities that "ownership" might drive....

    Humoring the horror of environmental collapse: ApocaDocs.com

    by mwmwm on Wed Sep 23, 2009 at 07:20:05 PM PDT

  •  himmering mirage (4+ / 0-)

    This may be a little off topic, but perhaps not - it depends on how broadly you define the scope of concern.  In the course of developing a business media plan I researched the tradeoffs between Myspace and Facebook.  (I have to say neither option is very attractive but social networking sites are part of business marketing now.)

    I came across this video.  It is boring and intentionally so, I think.  But some of the comment is worthy of note.  The presentation is made by the director of security at Myspace, Hemanshu Nigam.  He seems an earnest good sort and eminently qualified, beginning with law enforcement credentials in child porn prosecution.

    He starts by placing Myspace in a corporate context -- part of Rupert Murdoch's 64,000 employee News Corporation, an umbrella group that also contains Fox News -- Myspace and Fox share offices in Beverly Hills.  Judging by the amazingly candid Wikipedia profile of Myspace, Hemanshu has an uphill fight.

    What is interesting, if you can stay awake long enough, is how Hemanshu begins to define a real time relationship between local police, Homeland Security, and Myspace that is proactively using the Myspace database to target uncommitted crimes for prevention.  This immediately reminded me of the movie Minority Report starring Tom Cruise, set in the near future.

    Do you see where this leads and why it might tie in with this diary?  Fox News is part of Fox Interactive.  What is the nature of their interactivity, one wonders? They have already fought successfully in Florida courts for the right to lie, as corporate free speech, and they are using that to mercillessly bombard us with fictional propaganda.  Imagine what they could do with a resource like Myspace, police, and Homeland Security, all directly interacting with individuals through datamined profiles (user consent agreement).

    My point by mentioning this (and please pardon if it is OT) is that we need to be clear how we define media.  If we are looking at newspapers and broadcasting, that is an old model.  New media are interactive. We need to see that internet social media are quickly being integrated with secret observation by people who have the authority to arrest and incarcerate.  

    Goldman's high frequency trading comes to mind as a parallel model of applied behavioral observation through privileged electronic media channels, molding events in real time.  Goldman morphed int a commercial bank quickly -- they should have no trouble shape shifting into civil interactivity, creating a shimmering mirage of personal event horizon that we all see as real.

    I couldn't finish watching Hemanshu's speech.  No doubt a very nice man, but he began to be the face of Big Brother and I was totally creeped out.  Just a word to the wise.  Many of you here are much smarter than I am and may know what to do with these concepts.

    The Shock Doctrine by Naomi Klein -- best book ever, I nominate for a Nobel Prize!

    by xaxado on Wed Sep 23, 2009 at 07:49:08 PM PDT

    •  shimmering mirage (3+ / 0-)
      Recommended by:
      Badabing, Larsstephens, Radical def

      as if to prove my point the comment above evaporated as i posted it and I was frozen out of the site for 5 minutes!  creepola!

      The Shock Doctrine by Naomi Klein -- best book ever, I nominate for a Nobel Prize!

      by xaxado on Wed Sep 23, 2009 at 07:56:52 PM PDT

      [ Parent ]

    •  I completely agree with your assessment, and (3+ / 0-)
      Recommended by:
      alizard, xaxado, Radical def

      this reminds me of what was found out recently by a what really happened with the Patriot Act:

         

      In the debate over the PATRIOT Act, the Bush White House insisted it needed the authority to search people’s homes without their permission or knowledge so that terrorists wouldn’t be tipped off that they’re under investigation.

         Now that the authority is law, how has the Department of Justice used the new power? To go after drug dealers.

         Only three of the 763 "sneak-and-peek" requests in fiscal year 2008 involved terrorism cases, according to a July 2009 report from the Administrative Office of the U.S. Courts. Sixty-five percent were drug cases.

      http://www.drugwarrant.com/...

      It is the same basic premise.  The technology today is so advanced that information can be gained so easily on the population at large, and there-by increase certain types of a power base over the masses.  It is horrifying when you really think about it, and the point I was trying to make in my diary, is that the more we read about just how entrenched Goldman Sachs and JP Morgan have become in our government, and how these Banks/Investment Houses are just becoming bigger and bigger (without any kind of Anti-trust/Monopoly intervention/regulation on the part of our law makers) the more dangerous it is becoming for our Democracy.  Thanks for your input, and I thought your post was very appropriate.

      America is the only nation in history which miraculously has gone directly from barbarism to degeneration without the usual interval of civilization.

      by Badabing on Wed Sep 23, 2009 at 09:49:45 PM PDT

      [ Parent ]

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