Posted by greydogg, 99GetSmart
* IMF APPLAUDS ITSELF FOR THE SUCCESS OF ITS BAILOUT PROGRAMS
Source: Keep Talking Greece
[…] “Coordination between the International Monetary Fund and euro-area officials, including the European Central Bank, on bailout programs has been “challenging” at times, the IMF said in a new series of reports published Monday.
In a review of scores of the IMF΄s loan programs doled out in the past decade, the fund also said it could strengthen its debt-sustainability analysis, a key metric of a program΄s viability, Dow Jones Newswires reported.
The assessment comes amid reports there are often disagreements between the fund and its euro partners, the ECB and the European Union, that have complex vital bailout programs. It also follows strong criticism from some economists outside the fund who have questioned the IMF΄s credibility on agreeing to a Greek bailout program they΄ve said has been flawed from the beginning. In particular, those economists have questioned the accuracy of the fund΄s debt-sustainability analysis and whether restructuring of Greece΄s debt should have been considered earlier in the program than it was. […]
* WALL STREET ROLLING BACK ANOTHER KEY PIECE OF FINANCIAL REFORM
By Matt Taibbi, Rolling Stone
Wall Street lobbyists are awesome. I’m beginning to develop a begrudging respect not just for their body of work as a whole, but also for their sense of humor. They always go right to the edge of outrageous, and then wittily take one baby-step beyond it. And they did so again last night, with the passage of a new House bill (HR 2827), which rolls back a portion of Dodd-Frank designed to protect cities and towns from the next Jefferson County disaster.
Jefferson County, Alabama was the most famous case – the city of Birmingham went bankrupt after being bribed and goaded into taking on billions of dollars of toxic swap deals – but in fact it was just one of hundreds of similar examples of localities being duped into suicidal financial deals by rapacious banks and financial companies. The Denver school system, for instance, got clobbered when it opted for an exotic swap deal pushed by J.P. Morgan Chase (the same villain in Jefferson County, incidentally) and then-school superintendent/future U.S. Senator Michael Bennet, that ended up costing the school system tens of millions of dollars. As was the case in Jefferson County, the only way out of the deal involved a massive termination fee that might have been even more destructive than the deal itself.
To deal with this problem, the Dodd-Frank Act among other things included a simple reform. It required the financial advisors of municipalities to do two things: register with the SEC, and accept a fiduciary duty to respect the best interests of the taxpayers they are advising.
Sounds simple, right? But Wall Street couldn’t have that. After all, if companies are required to have a fiduciary responsibility to cities and towns, how in the world can they screw cities and towns? The idea was a veritable axe-blow to the banks’ municipal advisory businesses. […]
* INSURGENCY WINNING THE WAR IN AFGHANISTAN
There’s a lot of attention now on how unrest in the Muslim world might impact the insurgency in Afghanistan. For more on that, RT talks to British MP George Galloway, who tabled a motion in parliament demanding British troops be home by Christmas.
* THE CONTINUING POWER OF KARL ROVE
By Bill Moyers, OpEdNews
If you want to see the personification of how the Citizens United decision is playing out in this campaign, look no further than Karl Rove. Yes, that Karl Rove, the political strategist once known as Bush’s Brain.
Rove was a big winner in 2000, when the court’s conservative majority gave the presidency to his client, George W. Bush. Rove went with Bush to the White House as his political czar, but left seven years later as damaged goods. He was enmeshed in the president’s failures and in scandals of his own, including millions of missing emails, congressional hearings, and a near indictment over leaks that outed covert CIA agent Valerie Plame and exposed her to danger.
But then the five conservatives on the Supreme Court — three of whom had been appointed by Rove’s two Bush patrons, Bush the First and Bush the Second — came down with the Citizens United decision, giving Karl Rove a second lease on life as a bagman — the biggest in town. You could see him at the Republican National Convention, backslapping and glad-handing plutocrats and politicos. He told a private breakfast meeting during the convention that the super PAC he helped create, American Crossroads, plans to spend $200 million dollars on the presidential race and another $100 million dollars on this year’s Senate and House campaigns. […]
* NEW STUDY FINDS GM CORN AND ROUNDUP CAUSES CANCER IN RATS
By Sayer Ji, Activist Post
In an alarming new study published in the journal Food and Chemical Toxicology, researchers from The Committee for Research & Independent Information on Genetic Engineering (CRIIGEN) reported on the results of a 2-year feeding study in rats given either NK603 Roundup-tolerant genetically modified maize, cultivated with or without Roundup, and Roundup alone, at levels permitted in drinking water and GM crops in the United States.
From the report:
In females, all treated groups died 2–3 times more than controls, and more rapidly. This difference was visible in 3 male groups fed GMOs. All results were hormone and sex dependent, and the pathological profiles were comparable. Females developed large mammary tumors almost always more often than and before controls, the pituitary was the second most disabled organ; the sex hormonal balance was modified by GMO and Roundup treatments. In treated males, liver congestions and necrosis were 2.5–5.5 times higher. This pathology was confirmed by optic and transmission electron microscopy. Marked and severe kidney nephropathies were also generally 1.3–2.3 greater. Males presented 4 times more large palpable tumors than controls which occurred up to 600 days earlier. Biochemistry data confirmed very significant kidney chronic deficiencies; for all treatments and both sexes, 76% of the altered parameters were kidney related. These results can be explained by the non linear endocrine-disrupting effects of Roundup, but also by the overexpression of the transgene in the GMO and its metabolic consequences.
New Study Finds “Sever Toxic Effects” of Pervasively Used Monsanto Herbicide Roundup and Roundup Ready GM Corn: http://www.nakedcapitalism.com/2012/09/new-study-finds-severe-toxic-effects-of-pervasively-used-monsanto-herbicide-roundup-and-roundup-ready-gmo-corn.html
New French Study: Rats, Roundup and Zombie Foods: Most Sincerely Bad News: http://my.firedoglake.com/wendydavis/2012/09/20/new-french-study-rats-roundup-and-zombie-foods-most-sincerely-bad-news/