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Republicans filibuster bill that would cut taxes, create jobs

The current GOP strategy is this: say NO to everything; make everything as bad as possible before the elections in November and run on the platform that Democrats are obstructionists who aren't making anything better. Say What?! Republicans Filibuster Tax-Cutting Jobs Bill | TPMDC
All 41 Senate Republicans yesterday filibustered a jobs package comprised largely of tax cuts. You read that right. Republicans filibustered tax cuts. By the GOP's own admission, the underlying legislation has broad bipartisan support. It would create a $30 billion Treasury-backed fund to help community banks issue loans to small businesses and provide entrepreneurs with $12 billion in tax cuts -- a Republican kind of bill if ever there was one. But Republicans had been threatening for weeks to stop it, unless they were offered a chance to offer amendments on issues like border security, capping federal spending, and the estate tax -- all of which Senate Majority Leader Harry Reid held to be non-germane to the issue of job creation. Many of them also objected to a provision added to the bill that would have provided disaster and agriculture relief funding.

Dallas brother billionaires charged with insider trading by the SEC

These guys are infamous for bankrolling GOP causes like the whole Swiftboat attack on John Kerry. They allegedly hid their money in offshore accounts (no taxes!) and then used the offshore accounts to play the market with their insider knowledge. S.E.C. Charges Billionaire Dallas Brothers With Securities Fraud - NYTimes.com
WASHINGTON — Samuel and Charles Wyly, the billionaire brothers from Dallas who are large donors to philanthropies and to conservative causes, were charged Thursday with conducting an extensive securities fraud that the Securities and Exchange Commission said reaped $550 million in undisclosed gains. The brothers, who founded Sterling Software, a business software and services company that they sold for $4 billion in stock to the software company CA in 2000, were also charged with insider trading violations from which they profited by more than $31 million, the S.E.C. said . . . The Wyly brothers are in many ways a study in contrasts, paradigms of self-made billionaires who for years have fought investigations into suspected tax dodges by the offshore trusts that the S.E.C. claims they controlled. Samuel E. Wyly, 75, and Charles J. Wyly Jr., 76, who through a lawyer called the charges “without merit,” have given millions of dollars to Republican candidates and organizations, but Sam Wyly this year was also named one of the world’s 10 “greenest” billionaires by Forbes magazine.

July 28, 2010

Orwell vs Huxley: Amusing Ourselves to Death

Accelerating Future -- Amusing Ourselves to Death It's larger than we like to put on the front page, so please click through or look after the jump for a well done comic comparing Orwell's idea of a dystopian present to Huxley's. For bonus points: Try and guess what modern day America more closely resembles.

Continue reading "Orwell vs Huxley: Amusing Ourselves to Death" »

Glenn Beck's gold scam

All That Glitters Isn't Gold | Talking Points Memo The info is delivered in an enormous flowchart, which is embedded after the jump.

Continue reading "Glenn Beck's gold scam" »

July 27, 2010

BP's oil platform had its alarms turned off so workers could sleep

Deepwater Horizon alarms were switched off 'to help workers sleep' | Environment | The Guardian
Williams told the hearing today that no alarms went off on the day of the explosion because they had been "inhibited". Sensors monitoring conditions on the rig and in the Macondo oil well beneath it were still working, but the computer had been instructed not to trigger any alarms in case of adverse readings. . . . Williams said he discovered that the physical alarm system had been disabled a full year before the disaster. When he asked why, he said he was told that the view from even the most senior Transocean official on the rig had been that "they did not want people woken up at three o'clock in the morning due to false alarms". Williams' testimony will raise questions about whether lives could have been saved had the alarms been properly set and the disaster mitigated. . . .

96% of the Iraq Reconstruction fund can't be accounted for

That's $8.7 billion missing from 2003 to 2007 in Iraq. Think Progress - Department of Defense can’t account for 96 percent of money administered in Iraq reconstruction fund.
Yesterday, the Special Inspector General for Iraq Reconstruction (SIGIR) released its findings on how the money was spent from a special Iraq reconstruction fund set up by the Department of Defense (DOD) between 2003-2007. The account used Iraqi oil money to fund the reconstruction of Iraq. SIGIR concluded that 96 percent of the $9.1 billion the reconstruction program cannot be accounted for by the DOD: A US federal watchdog has criticized the US military for failing to account properly for billions of dollars it received to help rebuild Iraq. The Special Inspector General for Iraq Reconstruction says the US Department of Defense is unable to account properly for 96% of the money. Out of just over $9bn, $8.7bn is unaccounted for, the inspector says. [...] The funds in question were administered by the US Department of Defense between 2004 and 2007, and were earmarked for reconstruction projects. But, the report says, a lack of proper accounting makes it impossible to say exactly what happened to most of the money.