* RIOTS BREAK OUT DURING MASSIVE STUDENT PROTEST IN CHILE
* OUR PRESENT IS YOUR FUTURE: HOW TO DESTROY PUBLIC HEALTH SERVICE
Out of 131 hospitals, as many as 50 will be closed. Patients already have to pay at the door when going to see a doctor. Procedures will have to be paid up front, and if you don’t have the money you will be sent home. “People will die.” “The cruelty is unbelieveable.” “This is a nightmare.”
* EVERYTHING YOU NEED TO UNDERSTAND ABOUT SCOTUS’s HEALTH CARE DECISION
By Ian Millhiser, Think Progress
[…] Why The Law Is Constitutional
- The Individual Mandate Is Constitutional. In the words of a leading conservative judge who received the Presidential Medal of Freedom from President George W. Bush, the case against Obamacare has no basis “in either the text of the Constitution or Supreme Court precedent.” Learn the three reasons why the individual mandate is constitutional here.
- So Is Medicaid. Learn how the health care plaintiffs’ attack on the Affordable Care Act’s Medicaid expansion is both incorrect and an attack on America’s entire social safety net here.
- Upholding Obamacare Does Not Mean The Federal Government’s Power Is Limitless. The Affordable Care Act is constitutional, but a long list of things are beyond Congress’ power to regulate, including federal murder laws, rape and assault laws, federal truancy laws and federal child neglect laws. Learn more here. […]
* THE MAYOR’S MILLIONAIRE CLUB, PART II
A look at Rahm Emanuel’s calendar shows how wealth and access, far more than party identity or ideology, have come to comand the attention of politicians—leaving everyday people out of the conversation
By Mick Dumke, The READER
[…] Last September, after submitting a FOIA request and badgering mayoral aides for weeks, we received copies of the first months of Emanuel’s daily schedule. We reported in October that it was filled with rich guys who also happened to be some of the mayor’s big-money donors.
This time we asked for the next three months of the calendar: September, October, and November of 2011—a period when GOP presidential candidates battling for the nomination were railing against the White House.
The mayor’s office didn’t respond to our request to discuss Emanuel’s schedule. But once again, we found that his days were loaded with rich guys, campaign donors, powerful contractors, union busters, charter-school supporters, City Hall insiders, aldermanic brownnosers, and other favor seekers.
But during these three months Emanuel found time for another type of visitor: major funders of conservative attacks on President Obama. As such, the mayor’s calendar offers a glimpse of what passes for bipartisanship in Chicago—and shows the ways in which wealth and access, at least as much as party identity or ideology, have come to command the attention of politicians, leaving everyday people out of the conversation.
For instance, on September 1 Emanuel met for an hour with Muneer Satter, a managing director at Goldman Sachs. Satter donated $190,000 last year to Restore Our Future, a Romney-affiliated PAC, and he’s sent tens of thousands more to top congressional Republicans fighting to slash federal programs and regulations. Yet Goldman Sachs isn’t averse to taking money from governments predominated by Democrats: the city of Chicago has hired the firm repeatedly for no-bid work as an adviser on bond issues, including a $600 million bond sale last month. In February the CTA picked the firm to advise it on “public-private partnerships” to help finance infrastructure. […]
* NOTES ON WALL STREET’S BID-RIGGING SCANDAL
By Matt Taibbi, Rolling Stone
[…] Bid-rigging skims from towns after they’ve already borrowed money through bond issues. But some communities insist they’re being skimmed before they borrow as well. The central complaint is that the credit ratings of municipalities are excessively low, compared with counterparts in the corporate market who have the same risk of default. If true, this would artificially hike borrowing costs for cities and towns.
“Municipals virtually never, never default,” says Rebecca Kaplan, a city councilwoman in Oakland, one of the cities listed as a victim in the Carollo trial (the defendants rigged an auction for a Port of Oakland bond deal). “And yet munis receive ratings that, if you were comparing them to corporate ratings, you would think you were talking about a significant risk of default.”
The statistics bear this out. If you look at this report prepared by the House of Representatives four years ago – look at page 5 in particular, in the table for “Cumulative Historical Default Rates” – you’ll see that munis consistently receive significantly lower ratings than comparable corporate bonds. […]
THE SCAM WALL STREET LEARNED FROM THE MAFIA: http://www.rollingstone.com/politics/news/the-scam-wall-street-learned-from-the-mafia-20120620
* DAVID CAMERON PREPARED TO WIELD UK VETO IN EUROZONE NEGOTIATIONS
By Nicholas Watt, Guardian UK
[…] EU leaders will discuss plans for greater fiscal co-ordination over dinner in Brussels on Thursday night when they assess a paper presented by Herman Van Rompuy, the president of the European council. This has four main elements:
• An integrated financial framework that would move towards a single European banking supervision. Britain is pleased that the paper says this needs to be done in a way that preserves the “unity and integrity of the single market”.
Britain favours a banking union for the eurozone. It will insist that two key elements of such a union – a single regulator and the mutualisation of risks in which banks stand behind one another – must be limited to the eurozone.
• An integrated budgetary framework. Britain supports this for the eurozone and is pressing for eurobonds. But this is being fiercely resisted by the German chancellor, Angela Merkel.
• Moves towards an integrated economic policy framework.
• Strengthening EU and national democratic oversight over the new arrangements. […]