Financial crisis becomes political crisis

Public outcry could derail future bailout plans. AIG on Sunday took out another $165 million from public funds for "executive bonuses." AIG, after imploding due to making stupid bets and demanding only $170 billion from US taxpayers, is giving these "retention" bonuses so it can keep "the best and brightest talent." The Federal Reserve still refuses to answer specific questions about where $2 trillion in bailout funds has gone, a subject that Bloomberg News sued the Fed simply to try and discover.

The Obama administration is increasingly concerned about a populist backlash against banks and Wall Street, worried that anger at financial institutions could also end up being directed at Congress and the White House and could complicate President Obama’s agenda. "The danger, aides said, is that if he were to become identified as an advocate for the banks and Wall Street, people could take out their anger on him." (Source.)

[Well, duh . . . how do you like being played for a fool?]

According to the NY Times: "A Charming visit with Jay Leno won’t fix it. A 90 percent tax on bankers’ bonuses won’t fix it. Firing Timothy Geithner won’t fix it. . . 'President Obama may not realize it yet, but his Katrina moment has arrived.'” (Source.)

Here is some info on the recent AIG bonuses: 73 individuals received bonuses of $1 million or more; 11 of the individuals who received "retention" bonuses of $1 million or more are no longer working at AIG, including one who received $4.6 million. (Source.)

US assassination ring?

Am-Bushed: Seymour Hersh claims that under Bush/Cheny (1) The CIA "was very deeply involved in domestic activities against ... enemies of the state." (2) The Joint Special Operations Command operates without oversight by DoD or Congress, reported directly to Cheney's office, and operated as " an executive assassination ring". Mr. Hersh always cites multiple sources for his reporting.

Sacrifice the environment--maybe that will help?

Microcosm: Citing the state's economic problems, Florida politicians are rushing to gut environmental laws and growth-management regulations in favor of re-inflating the economy.

Meet the New Boss, Same as the Old Boss

Obama orders 17,000 more troops to Afghanistan In a brief written statement issued by the White House, President Obama signaled that the escalation in Afghanistan would be combined with an intensified military intervention across the border in Pakistan.

Obama, not Bush, now seeking delay of Rove deposition Former Bush Deputy White House Chief of Staff Karl Rove has a new president urging Congress not to force him to testify next week. President Barack Obama.

Obama administration defends telecom immunity. The Obama Justice Department continues to stand behind a Bush era law meant to prevent lawsuits against telecommunications companies accused of illegally sharing private customer information with intelligence agencies.

Crass Warfare: The rich claim that Obama's plan to tax the top 2% of Americans - those making over $250,000 - is the beginning of class warfare. The other 98% of Americans certainly hope so. The GOP claims this will pit the have-nots against the haves, instead of their plans, which have always pitted the haves against the have-nots.

Under executive orders issued by Obama just two days into his tenure, the CIA still has authority to carry out what are known as renditions, secret abductions and transfers of prisoners to countries that cooperate with the United States, the Los Angeles Times reported.

"This is your captain speaking, everyone remain calm, everything is under control. "

Cheers