In These New Times

A new paradigm for a post-imperial world

Archive for December, 2010

Nearly 100 bailed-out banks may collapse all the same: analysis

Posted by smeddum on December 28, 2010

Because many of the larger banks are now in good health and have been able to repay bailout funds, the TARP program may itself not turn out to be as large a burden on taxpayers as once feared. According tothe New York Times, the program — which ended this fall — could end up costing “a fraction” of the original cost, “and could conceivably earn taxpayers a profit.”
The larger banks are not, of course, in good health- they are insolvent and we await merely for the  day when the true state of Anglo-American finance can no longer be concealed.
Monday, December 27th, 2010

wallstreet Nearly 100 bailed out banks may collapse all the same: analysis

More collapsing banks could mean more ‘too big to fail’ banks

The $700-billion bank bailout, launched in the final months of the Bush administration, was meant to save US financial institutions from a systemic collapse. But an analysis of banks’ earnings statements concludes that nearly 100 bailed-out banks are at risk of collapsing all the same.

Despite receiving a total of $4.2 billion in bailout cash, 98 US banks are at risk of failing, the Wall Street Journal reports.

The banks are suffering from “eroding capital levels, a pileup of bad loans and warnings from regulators,” the Journal reports, and the nature of the problem indicates that these banks were in trouble before the 2008 crisis hit — a sign that the US’s regulatory structure for banks may have been insufficient for years or decades before the collapse.

So far, seven bailed-out banks have already collapsed, costing taxpayers $2.7 billion. Read the rest of this entry »

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ROK President Lee heats up cold war on Korean peninsula

Posted by seumasach on December 28, 2010

Stephen Gowans

Voltairenet

24th December, 2010

There are three key facts that place the brinkmanship being played out on the Korean peninsula into perspective. With these facts providing the context, the recent behavior of south Korea is revealed to be that of a local bully acting on behalf of a much larger global one.
Canadian journalist Stephen Gowans dissects the fast-unraveling crisis between the two Koreas.

The first key fact is that north Korea is a military pipsqueak in comparison with the militaries that have taken an actively hostile stance towards it. South Korea’s military budget is many times larger than north Korea’s, and the south Korean military is integrated into the world’s preeminent military machine, the US armed forces. Close to 30,000 US troops are stationed on Korean soil; 40,000 in nearby Japan can be deployed quickly to increase US military power on the peninsula. US submarines lurk on the edges of north Korea’s territorial waters. US spy planes fly high over its territory. And US strategic nuclear missiles are targeted on north Korean sites. To think that north Korea poses a danger to south Korea is to think that a flyweight boxer is a threat to a middleweight backed by the world’s superheavyweight champion. The best a flyweight can do is strike back if attacked and inflict some damage, knowing he’ll be pulverized in the conflict.

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Russia, India, China Marching Towards A Multipolar World: By Dr. Sawraj Singh

Posted by smeddum on December 28, 2010

Saturday, December 25th, 2010 

In the year 2010, the leaders of all of the permanent members of the security council of the United Nations visited India. President Obama of America, President Medvedev of Russia, Prime Minister Wen Jiabao of China, President Sarkozy of France, and Prime Minister David Cameron of the UK. It is obvious that India’s importance in the world in transition from a unipolar to a multipolar world is rapidly growing. Read the rest of this entry »

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US Cities bankruptcy

Posted by smeddum on December 28, 2010

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Her Majesty’s Advocate v Mr and Mrs Sheridan

Posted by smeddum on December 28, 2010

26 December, 2010

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By Ian Hamilton QC

Socialist Unity

The News of the World has at last won its vendetta against a left wing politician. It has done so with the connivance of the Lord Advocate. If at first you don’t succeed keep trying. Scottish justice has notched up another political miscarriage of justice alongside that of Al Megrahi and Muir of Huntershill. Read the rest of this entry »

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Zimbabwe and the steep road to vindication

Posted by seumasach on December 28, 2010

Netfa Freeman

Aletho News

14th December, 2010

When Zimbabwe initiated fast track land redistribution in 2000 it was big news for corporate media to echo several patented denunciations, characterizing the process as rife with corruption, violence, and inefficiency and doomed to fail. More than eager to join the fray was the liberal left whose pseudo analysis reiterated the same line accompanied by an aversion to anything that seemed even remotely favorable to Zimbabwe’s President Robert Mugabe and his ZANU PF party.

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‘UK inept to bear non-political demand’

Posted by seumasach on December 28, 2010

PressTV

28th December, 2010

A Senior Iranian lawmaker has reiterated that Britain’s failure to tolerate non-political protest rallies flies in the face of its claim of advocating human rights.
Chairman of Iran’s Majlis (parliament) Committee on National Security and Foreign Policy Alaeddin Boroujerdi made the remarks in reference to the violent suppression by British police of student protesters that rallied against government plans to cut state financing of university education and raising tuitions three fold.

The Iranian lawmaker urged the British government to reconsider its aggressive approach in dealing with student protesters, saying,” Britain cannot even tolerate non-political and union protests.”

Such conduct reflects the notion that countries like the US and UK only think about their own interests with no regard for public interest, Boroujerdi told IRNA on Monday.

“That’s why a selective approach dominates their policies and when dealing with issues such as human rights, terrorism and even drug smuggling, they follow this double-standard policy,” Boroujerdi stressed.

Massive student protest rallies, which even brought ordinary people to the streets, did not stop British officials from carrying through with their “reform” plans.

The student protests started in November and left more than 43 protesters injured and another 40 arrested.


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Korea may go nuclear

Posted by seumasach on December 24, 2010

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Defend Sheridan, defend truth against power!

Posted by seumasach on December 23, 2010

Cailean Bochanan

23rd December, 2010

The jury at the Tommy Sheridan case has duly delivered the expected verdict of guilty. Expected, that is to say, by those with some insight into British justice system and British society as a whole. However, this isn’t just another miscarriage of justice, as it clearly is on the basis of the case as reported through James Doleman’s blog, it is a show trial through which the British oligarchy has shown its power to put down whoever they wish regardless of the evidence or the facts of the case. In that sense its consequences are of the gravest possible nature for all of us who wish to free this country from the all enveloping tentacles of the financier/war interest.

It is strange to have to write an article on the basis of information provided by a blog: don’t we have a press, TV, media? Well, we may as well not, going by the coverage of this trial. It consisted of little more of soundbites, which certain witnesses seemed to be offering up in an obviously choreographed manner; there was no in depth coverage. The media offered impressions, mood music, suggestive little titbits, the kind of fare appropriate to a post-modern, dumbed-down, justice brought to your living room sort of show trial. Nothing to strain the critical faculties overmuch and certainly nothing to inform.

Still, the trial by media format seemed to have gone wrong,  the impressionism seemed to be going in  favour of Sheridan. This could only be explained by a continual series of reverses which was plaguing what was, on the evidence available to me, one of the most disastrous prosecution cases ever  launched.

The centrality of a dodgy looking bit of video with a voiceover destroyed any notion that the prosecution was coming with something new to the trial. If this is the best the intelligence services of the realm, now farmed out to News International apparently,  can muster then Sheridan is innocent of visiting a swingers club: in fact, he so innocent that he wouldn’t even know what a swingers club is. The rest of the trial was a disgraceful farrago of contradiction, lie and insinuation, an unstoppable fast-forward to fiasco. Against my better instincts, I even began to think Sheridan might win.

But it was too bad to be true. The trial raised a puzzling question which may in the end have clinched it in the jury room: why would so many people come forward to destroy themselves in the witness box? In other words, for Sheridan to be innocent there had to be, as he claimed, a conspiracy, but one which goes beyond even what he can imagine. For Sheridan to be innocent, this society has to be, not the cosy little island of democracy as we like to believe, not the fairy tale, but a benighted place controlled by dark hidden forces. The jury and most of the public prefer that not to be the reality and so can now sigh a collective sigh of relief safe in the knowledge that it is the evil one who has gone down. For me the evil is still very much at large and suddenly looms ever larger. Only truth can destroy it.

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Eurozone considers new independent funding institution

Posted by seumasach on December 23, 2010

The newspaper said that French Finance Minister Christine Lagarde had called for the 16 eurozone countries to build a strong economic alliance that would explicitly exclude Britain.

Britain relationship with the Europe will have to be clarified soon. This could be it with Britain heading to an anything but splendid isolation.

Deutsche Welle

23rd December, 2010

Germany is considering a “European stability, growth and investment fund,” according to a government paper seen by the Sueddeutsche Zeitung daily. The newspaper said that French Finance Minister Christine Lagarde had called for the 16 eurozone countries to build a strong economic alliance that would explicitly exclude Britain.

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Kosovo: Europe’s mafia state. Hub of the EU-NATO drug trail

Posted by seumasach on December 23, 2010

This is what we fought  or, rather, bombed for. A state created in our own image, forged in the heat of conflict after our own founding principle of four hundred year pedigree: state sponsored gangsterism.

A fine article but it could have pointed out also Kosovo’s links to our very own “Al Queda” networks.

Tom Burghart

Global Research

22nd December, 2010

In another grim milestone for the United States and NATO, the Council of Europe (COE) released an explosivereport last week, “Inhuman treatment of people and illicit trafficking in human organs in Kosovo.”

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