Sunday 22 July 2012

{Political_Views} NATION OF CHANGE/ The Biggest Banking Scandal this Summer




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Friday, 20 July 2012
NationofChange Turns One!
With a tiny staff and a shoestring budget we have managed to raise over $50,000 for progressive causes in this last year alone. Our little website has grown into a substantial player in this fight and we're just getting started.

Of course, none of this could have been or will be possible without your support.

This week, we're asking our readers to show their support for our organization by making a small tax-deductible donation. If you believe that organizations like NationofChange are crucial to our democracy, then give generously now.

Want A Real Recovery? Raise the Minimum Wage.

Terrance Heath, Op-Ed: It's no exaggeration to say that the business model of America's low-wage employers depends on a generous government safety net, since without that net many of their workers would not be able to survive. So all of us are subsidizing the wealthy owners and executives of Wal-Mart, McDonalds, and Target. Alas, few of us seem to realize this.
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U.S. Funding 'Of Critical Importance' to Solving AIDS Crisis

Zack Beauchamp, News Report: The PEPFAR program – a major initiative of the George W. Bush Administration – has been buoyed by a raft of favorable evidence, the U.N. being only the most recent. PEPFAR countries have seen significantly larger declines in death rates than similar non-PEPFAR states. The program "supported more than 4 million orphans and vulnerable children in 2011 alone" and has been described in the prestigious medical journal The Lancet as "the largest and most successful bilateral HIV/AIDS program worldwide."
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Obscuring a Debate Over Butlers

David Sirota, Op-Ed: According to the Institute for Taxation and Economic Policy, this means that Obama's initiative, which would cost $150 billion, will give a one-year $20,130 tax cut to the top 1 percent of income earners. Meanwhile, the $210 billion Republican plan would give that income group a $70,790 tax cut. In other words, this supposedly monumental debate isn't over whether to punish or further enrich households in the top 1 percent — both proposals do the latter.
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Right-Wing Hawks, Arms Industry Rally Against Pentagon Cuts

Jim Lobe, News Analysis: Recent survey data suggest that the public generally favors the Democratic position. According to one detailed poll released here Monday by worldpublicopinion.org, a strong majority of respondents, including those from Congressional districts represented by Republicans, favor substantial cuts to the defense budget – by an average of 18 percent from its current level. The survey, which was carried out in April, found some partisan differences.
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What's Stopping Women?

Anne-Marie Slaughter, Op-Ed: Those are just the most extreme cases of physical violence that many women face. Worldwide, more than a billion women confront grinding and overt gender discrimination in education, nutrition, health care, and salaries. Women's rights are a global issue of the highest importance, and it is necessary to focus on the worst violations. Still, consider a recent matter-of-fact report from a sober and respected US magazine."
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Education Department Revamps Broken Disability Review Program

Sasha Chavkin, News Report: The department's proposed reforms would streamline the application process and improve its communication with borrowers, eliminating many of the bureaucratic hurdles that frustrated applicants in the past. But the department rejected a key reform that would have allowed many disabled borrowers to bypass its review altogether. Perhaps the most significant change is that all borrowers will now submit a single discharge application to the Education Department.
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Climate Parents: For Kids' Future, Mark Hertsgaard Urges Families to Take on Global Warming

Amy Goodman and Juan Gonzalez, Video Report: "The laws of physics and chemistry — the fact that carbon dioxide remains in the atmosphere for decades after being emitted — mean that man-made global warming is just getting started on this planet. As a result, my [daughter] Chiara and millions of other youth around the world are now fated to spend the rest of their lives coping with the hottest, most volatile climate in our civilization's 10,000-year history."
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The Biggest Banking Scandal this Summer (Hint: It's not LIBOR)

Christopher Petrella, Op-Ed: Since the first iteration of the Basel Accords in 1988 (Basel I), one of the most critical features of the international agreement has been the leverage ratio requirement. Financial leverage refers to the relationship, often expressed as a percentage, between the money a bank borrows and the capital (both liquid and long-term) it has available to it. More simply, leverage for a bank is essentially the amount of equity a bank possesses relative to its assets; the leverage rate is defined as the ratio of total assets to equity.
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Electrical Grid is Not Well Protected

Zach Toombs, News Report: "Terrorists, hackers, and other non-government groups all have the desire and are trying to gain the ability to get into our electricity infrastructure," Gregory Wilhusen, the director for information security issues at GAO, said in an interview. "The impact of widespread outages could have national security implications. And, in residential areas, it not only affects homes and customers. It also has major effects on commerce."
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Everything is Secret, So Don't Bother Asking

William Astore, Op-Ed: "Did you know that less than a generation ago, we got by with fewer than six million documents being classified? Along with this explosion in classification and state secrets, did you know that efforts to declassify documents -- to make them theoretically accessible to ordinary Americans -- have plummeted from 196 million pages declassified in 1996 to only 26.7 million in 2011?"
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FROM AROUND THE WEB

Global Financial Crisis

Eurozone OK's Spain Bank Rescue

Up to $123 billion to infuse Spain'stroubled banks in bid to avoid costly full national bailout.


Murder

Colorado Theater Shooting Leaves 12 Dead

A gunman set off unknown gas and fired into a crowded movie theater in Denver at the midnight opening of the Batman movie "The Dark Knight Rises."


2012 Elections

Mitt Romney and 6 Things He is Hiding

Public image for presidential candidates can spin out of control.

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