My Film Reviews
Laura Flanders interviews Noam Chomsky for GRITtv, April 24, 2012
Chomsky discusses suicidal policies in the USA and Europe and hopes for the future.
This weekend I’m in Brussels attending the “European Union in Crisis” conference..and drinking my favorite Belgian beer. Click the link above for more information, including articles and video.
The Cyber Intelligence Sharing and Protection Act passed the US House of Representatives yesterday and will now be taken up by the Senate.
U.S. Electoral System Wallowing in a Sea of Money, Idiocy, and Corruption
Robert McChesney: Corporate media making millions from political ads, then cover ad driven horse race as news
Is there a Link Between Inequality and Instability?
James K. Galbraith: Societies that are more egalitarian are more stable
What do the French Revolution, the worldwide student/worker resistance of 1968, and the Arab Spring all have in common? Answer: These three political movements shook the foundations of the political establishment to the core.
In this piece for AJE, Jillian Schwedler of the University of Massachusetts-Amherst explores the possibility that with the Arab Spring, the Indignado movement, and Occupy Wall Street, we are witnessing up close the beginnings of a new chapter in world history.
“For those in want of a handy slogan, that’d be ‘the .0000063 percent.’”
“Too Crooked to Fail”: Matt Taibbi Says Bailouts, Fraud are the Secrets to Bank of America’s Success
In his new article, “Bank of America: Too Crooked to Fail,” Rolling Stone reporter Matt Taibbi chronicles the remarkable history of the rise of Bank of America, an institution he says has defrauded “everyone from investors and insurers to homeowners and the unemployed.” Taibbi describes how the Bush and Obama administrations have repeatedly propped up the financial institution, which received a $45 billion taxpayer bailout in 2008. Bank of America has also received billions in what could be described as shadow bailouts. The bank now owns more than 12 percent of the nation’s bank deposits and 17 percent of all home mortgages. Taibbi also recounts how fraudulent practices by Bank of America and other companies ravaged pension funds. “Most people think of [the mortgage crisis] as some airy abstraction — you know, bankers ripping off bankers,” Taibbi says. “That’s not what it is. It’s bankers stealing from old ladies and retirees.”
How can the international community hold multinational corporations accountable for human rights violations? The corporations’ “home” industrialized countries are generally supportive of the wealth-amassing, artificial, legal persons they create, and these states are loathe to prosecute them for crimes committed elsewhere, no matter how heinous. Further, there is no existing international tribunal for prosecuting corporate crimes. This means a lack of accountability for some of the wealthiest and most powerful institutions in the world. These institutions are founded on the concept of limited financial liability. Investors and managers also enjoy limited criminal liability.
Who should be held responsible for gross injustices committed in the name of good business practice, in the interest of maximized profits? Current legal structures are totally inadequate. From the US Supreme Court to the World Trade Organization, tribunals dealing with the business-society conflict continue to lend powerful support to corporate interests over ordinary people’s interests for health and safety and a clean environment. The result? Corporations are getting away with murder.
Following this week’s publication by Wikileaks of millions of internal emails from the private geopolitical intelligence firm Stratfor (which models itself as a private-sector CIA), Juan Cole summarizes the early top 5 revelations, while DemocracyNow! reports on what it all means, including how the firm uses spies (“[Y]ou have to take control of him. Control means financial, sexual or psychological control…”) and the agency’s concern with growing resistance to corporate power more generally.
Strategic Forecasting Inc. is an American for-profit intelligence agency that collects, analyzes, and exploits clandestine geopolitical information. Subscribers include corporations, states, and individuals, who normally pay large sums for regional and “customizable” intelligence.
I first subscribed to the Stratfor newsletter a couple of years ago while reading this 2009 book by the founder, George Friedman. In contrast to the book, which was only semi-interesting and mostly speculative, I’ve found some of their free newsletter analyses—coming from a sharp right-wing perspective on the world—helpful in terms of the seemingly accurate, underreported information they provide on certain regional conflicts. Since the embarrassing hacking into their system by Anonymous, the private spy agency has been temporarily offering all of its analyses free-of-charge.
Short Film: “She’s Alive… Beautiful… Finite… Hurting… Worth Dying for”
A visually powerful short film about environment concerns. “It is dedicated to all who died fighting for the planet and those whose lives are on the line today. The cut was put together by Vivek Chauhan, a young film maker, together with naturalists working with the Sanctuary Asia network (www.sanctuaryasia.com)”
As Apple bows to pressure to let independent auditors into its supplier factories, Arun Gupta exposes further exploitation by the most admired corporation in the US and the world. Criticizing the recent NYT exposé, Gupta writes that, “the Times highlighted environmental hazards and overtime,” explaining in detail how the investigation, “gloss[ed] over wages, working conditions and abusive supervision. (Even then the Times barely scratched the surface of how Foxconn and other Apple subcontractors have trashed the environment and poisoned workers as documented in these studies.)”
George Lakey: While many of us are working to ensure that the Occupy movement will have a lasting impact, it’s worthwhile to consider other countries where masses of people succeeded in nonviolently bringing about a high degree of democracy and economic justice.
“How Do Tax Haven Schemes Work?
Imagine a hypothetical pharmaceutical company creates a new drug. Before putting it on the market, they sell the drug patent to a subsidiary that consists of just a post office box in the Cayman Islands, at practically no cost. The drug is produced, marketed and sold to U.S. customers in the United States. The U.S. company then pays inflated ‘royalties’ or ‘licensing fees’ to the offshore subsidiary. It deducts this “expense” from its taxable income, thereby avoiding corporate taxes.
The technique used by the hypothetical pharmaceutical company manipulates ‘transfer pricing,’ which refers to prices theoretically charged in transactions between subsidiaries of the same corporation. To shift profits offshore, one entity will undercharge or overcharge the other so the profits are booked to the tax haven country, while ‘business expenses’ are booked to the company in the higher tax country.”