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When Clinton Let the Foxes Run the Hen House

Imagine if I told you that during sometime in the first ten years of the twenty first century that a savvy plutocrat from a southern state would get this country on a path to economic collapse by implementing laws that would allow banks to run amuck. If I asked you to name this person, this public relations officer in chief of the most powerful nation in the world, would you concede that he would be a democrat names William Clinton?

Yep, Bill Clinton. Too me, the two most egregious actions against our economic prosperity was put in place by him. And what makes this so bad is that he was smart enough to know better, being vehemently more competent and astute as President in comparison to his replacement; for he should have known that Wall Street Bankers were merely a monopoly. Albeit they fly different flags – a pirate is still a pirate.

The first was the commodities Futures Modernization act, which II have written extensively about in past years. Although put in place in the late 1990s and the brain child of Senator Phil Graham of Texas, this is not what I am targeting, but rather Clinton’s abrogation of the Glass-Steagall Act.

Sure there were inordinate acts signed into law before and after the great depression including the Underwood Tariff Act, the Robinson-Patman Act and the Sherman Anti-trust. All were relatively ineffective, especially the last one. Glass-Steagall is (or was) the most instrumental and effective of all the banking or anti-trust laws implemented after the great depression. Politicians were always aware of the powers of the big banks, especially since the times of the Greenback. But as early as 1911, politicians were aware of the amassed power the Wall Street Banking Cartels had and is why Woodrow Wilson at the time called the “money monopoly.”

Prior to it becoming law, the Pujo Committee noted that the concentration of credit in the hand of a few on Wall Street was both a threat and danger to the nation. In particular since bankers were both capital users and capital supplying entities that made their loot using the loot of others (sounds familiar?) Practices that had been growing since the 1890s with the proliferation of investment banks and finance capitalism. By finance capitalism investment banks were both responsible for the selection and issuing of stocks and setting their prices. Meaning for the investment banker, a guaranteed return on invested capital was more important than national economic progress.

In essence, Glass-Steagall was a means to liberate credit systems from Wall Street control and end the perceived special privileged enjoyed by this sect via a rigged credit system. It was also an attempt to address the massive maldistribution of wealth and engaged reckless speculation of Wall Street investment houses. Moreover, the insider trading, pyramid schemes, speculation, unloading worthless securities and the fact that the general misuse of buying power had been responsible for the economic meltdown put a bright light on the obvious criminal practices of the banks such that laws had to put on the books to keep it from happening again. More importantly, it assisted in ending the incessant discrimination against small business in terms of access to credit, especially if they were outside of New York or Washington, D.C.

Glass-Steagall was signed into law in June of 1933. We have to give both Carter Glass and Henry Steagall of Alabama big props for this. Especially Steagall – who was responsible for instituting the FDIC into law to insure customer deposits? Strange is like today, Republicans who described insuring deposits as “socialism.” I would also have to give props to Duncan Fletcher and Sam Rayburn for their bill to regulate Wall Street and thee stock market. Here two, republicans and bankers argued that Wall Street could police itself.

Glass-Steagall prohibited commercial banks from collaborating with full-service brokerage firms or participating in investment banking activities. With one deft stroke of a pen, Clinton actions would proffer to show how Keynesian economic theory was wrong: that trying to obtain maximum employment was good and that liquidity, profit expectation and consumption are not enough to propel economic growth. Why, because equilibrium and underemployment are incompatible theoretical suppositions when conjoined. Clinton ended Glass-Steagall in essence letting the fox guard the hen house,

Yet we still act as if such is the Michael Jordan of economic jump starts, when we ignore the truth that no matter how much loot the government drop as stimulus, folks just gone buy stuff made in other nations, creating jobs over there, because we do not make anything that we or any other nation wants to buy – what we do make (movies and music) can be bootlegged (LMBAO).

Is 9 TRILLION Dollars Missing from Federal Reserve?

LeBron James is The Face of Selfish Multi-million Dollar Black Athletes That Have No Clue

I am writing this not as an attack but rather to set the record straight. It is evident that the modern athlete, sports fan and sports talk radio pundit all contribute to what can be described as the selfish, self-centered, individualistic and money hungry mentality of grown men who play games for a living, especially African Americans.

Upon losing in the NBA finals to the Dallas Mavericks, the aforementioned was on full display with regards to the fans, the media and the super-talented African American athlete LeBron James. Although many in the media called him a kid and said he was scrutinized in the same manner of Muhammad Ali, it was James himself who said he desired to be a world Icon like Muhammad Ali.

If this is the case all are dead ass wrong, for LeBron will never follow in the foot steeps of an Ali like many of his present day multi-millionaire athletes regardless of sports. These men lack a historical understanding of collective struggle and are too scared and self-centered to stand for a cause they believe in, thus cannot be compared to the spirit of activism by African Athletes in sports.

The last time such occurred was the 12th March 1996 when Abdul-Rauf (Chris Jackson) as a professional basketball player, was banned from playing in the National Basketball Association (NBA) matches because he was not willing to stand up when the national anthem of America, The Star Spangled Banner, was played just before the game started. It was his belief, and history would stand in agreement, that standing up was not a right thing to do, because according to him the United States flag is a symbol of oppression and represented a long history of tyranny.
Before Ali there was Paul Robeson, an All-American athlete who lettered in American football, baseball, basketball, and track and field, Rutgers valedictorian who was a Phi Beta Kappa. He attended Columbia Law School and played professional football in with the Akron Pros and Milwaukee Badgers. He was more than involved, for he presented to the United Nations in New York on December 17, 1951 an anti-lynching petition, "We Charge Genocide."

Then there were the authors of the most powerful and controversial moments in sports, when Tommie Smith and John Carlos succeeded in winning the gold and bronze medals in the 200 meters track during the Mexico City 1968 Olympics. The two men who dared to use the stage of the Olympic games as a platform for protest. They wore beads to symbolize the lynching of black men inn America and took the podium barefoot to protest poverty among African peoples worldwide. Last but not least, they held their black-gloved fists in the air in salute of "Black Power.” This was an outrage to Most of white America, for which the powers that were, the IOC forced the U.S. Olympic Committee to withdraw them from the relays, banish them from the Olympic Village, and expel them from the U.S. Olympic team.

LeBron, how dare you put your name in the same sentence of Ali? You will never be equal to the greatness of the men before your nor ever be a Jackie Robinson. So slow your roll homeboy, you are and will be what your are – a multi-million professional athlete with endorsements with Nike, Gatorade and the like. You have nothing to complain about and are an insult to the names referenced in this article and African Americans who respect history and collective responsibility as well.

Stuxnet: Anatomy of a Computer Virus

Stuxnet: Anatomy of a Computer Virus from Patrick Clair on Vimeo.

Scientists are sounding the alarm: the mysterious cracks appear across the planet

Recommended readings:
Large Crack Opens in the Earth in Southern Peru (SoTT)
Giant crack in Africa formed in just days (NewScientist)
Iceland Lake Disappearing Into New Crack in Earth (National Geographic)
ESA’s Envisat satellite witnesses Earth’s largest crack (ESA News)
Deepest crack on earth found in the Caribbean (CNN)
Trinco Earth Crack: No stepping (LankaPuvath)
A Crack Opens in the Ethiopian Landscape, Preparing the Way for a New Sea (DiscoverMagazine)
Tremors Point to a Stressed-Out Stretch of the San Andrea Fault (Discover Magazine)
Earth crack a mistery (EHExtra)
500 foot crack in the earth appears in Michigan, US (FromTheOld)

Violent lesbians Gangs on Rise

Kids Lemonade Stand At U.S. Open Fined $500 And Shut Down By Montgomery County

Herman Cain Will Never Get Serious Consideration from Blacks on Democratic Plantation

I am a proud graduate of Morehouse College. I am among a distinguished group of alumni who include Martin Luther King, Jr., Edwin Moses, Spike Lee, Samuel Jackson, Maynard Jackson and current Republican Presidential Candidate Herman Cain. It is unfortunately, most African Americans will not give Cain any objective consideration simply because he is a member of the Republican party. This confuses me and is also an issue of consternation when we look at the history of African Americans.

Cain, the former Godfather’s Pizza CEO, once served as a Federal Reserve Bank chairman in Kansas City, takes heat from the Republicans establishment just as much as the general black community, including former Bush adviser Karl Rove and conservative columnist Charles Krauthammer who said his campaign was all about “entertainment.”

Although a long shot and the fact that many consider Barack Obama, America's first African American president, Cain if elected would be really the first black president into office. This is not about his skin color, but rather his experience. His experiences and history of a robbed heritage, more akin to most African Americans that that of President Obama. Obama can speak of his lineage to Kenya through his father and Ireland through his mother. Most African Americans cannot trace their family history to any specific person, time or place in Africa.
Cain, the son of a chauffeur and a domestic worker in Georgia, graduated from Morehouse College with a degree in mathematics, and he earned a master’s degree at Purdue before joining the Navy. His rise in the corporate world started first at Coca-Cola and then at the Pillsbury Company, where he was an executive overseeing Burger King and chief executive at Godfather’s Pizza.

At 65, Mr. Cain, platform will push for new energy policies to make the United States less dependent on foreign oil. In a recent interview he said, "My great, great grandparents were slaves, and now I'm running for president of the United States of America," he says later. "Is this a great country or what?" He also upset many Tea Party supporters when he stated that African Americans are too poor to tea party. “They can't afford to," Cain said. "So I think the first reason is economics. If you just look at the sheer economics of it. If you look at the typical income of a black family of four it's going to be lower than a non-black or white family of four," he explained.

Now I am a libertarian and see no big difference between democorats or republicans inside thebeltway. My reality is that Cain’s experiences is closer to mine than Obama. Most do not know that it was democrats that fought against integration, both in the North and South. That it were the "Democrat-controlled state legislatures in the South that placed the Confederate battle flag on their state capitol flags." That the democrats founded the KKK (the first Grand Wizard of KKK- Nathan Bedford Forrest was honored at Democratic National Convention of 1868) and the Council of Conservative Citizens. That no democrat voted for the 14th amendment and that then Senator John F. Kennedy – with an eye on the Democrat presidential nomination for 1960 – voted against the Civil Rights Act of 1957.

Cain has no chance because African American myopia will vote for anyone who is a democrat without out question. Sad fact is democrats are happy to see blacks ask the government to do for them because they will not have to and take the black vote for granted. The way I see it, democrats are like Church’s Fried Chicken and the Republicans are Ruth Crisp. Democrats will sell us foods that kill us and set up shop throughout our communities. We accept without question for that is reality on any plantation, democratic or republican.