Sep 222012

Posted by greydogg, 99GetSmart


Portugal has seen the biggest protests since the 1974 revolution – the people have unequivocally said no to the troika and no to austerity

By Joao Camargo, Counterfire

It looks as if the Portuguese people have had enough of austerity. People came out in their droves last Saturday across the country under the slogan ‘Screw the troika, we want our lives!’. Close to a million people protested against the government and the IMF, ECB and EU troika.

It was the biggest protest in Portugal since the revolution in 1974, signalling that the consensus over austerity is long gone and buried. The demonstration on 15 September marked the end of an era. The signal was decisive: the mass of the people went into the streets shouting ‘IMF out of here’, ‘government resignation now’ and ‘we want our lives!’.

The troika and the government no longer represent the will and the political prospect of the majority of citizens, and so the door is now open for a new democratic election towards a future that rejects the troika’s criminal and destructive agreements. […]




By, vimeo




Source: youtube




By Ken Roose, NYMagazine

Being a Wall Street “letterhead hire” — one of many high-profile former politicians who are offered lucrative advisory roles at leading banks and private equity firms, primarily for the purpose of lending their names to the firm’s stationery — is nice work if you can get it. These politicians may not even have any private-sector business experience, but they still earn millions of dollars for nebulous consulting jobs that, presumably, involve exploiting connections established in their previous positions of power and playing a lot of golf.

Vernon Jordan, the Clinton adviser and trained lawyer who is now a senior executive at Lazard Frères, was a model example of a letterhead hire. Evan Bayh, the former Democratic senator who took a cushy position at Apollo Global Management, is a more recent vintage. (From the other side of the aisle, there’s former VP Dan Quayle, now parked comfortably at Cerberus Global Investments.)

Letterhead hires enjoy a fairly carefree existence. Often, they’re sent around the world as emissaries for their employer, tasked with giving speeches and schmoozing clients, and occasionally asked to pull out their Rolodexes to nudge a well-placed contact on some deal or regulatory issue. The job title given to a letterhead hire is often “senior adviser,” and while the post can be more involved than being a board member, it’s less taxing than being a day-to-day manager. Letterhead hires typically have no direct reports, no live deals, and rarely interact with the rank-and-file. (I once told a junior J.P. Morgan Chase banker that I’d seen his “co-worker” Tony Blair, the former British PM turned J.P. Morgan adviser, on TV. His response — “Tony Blair works here?!” — tells most of the story.) […]




By Tracy Staedter, Discovery News

[…[ Andre Rawlemon, the architect and designer, says his spherical, sun-tracking glass globe is able to concentrate sunlight and moonlight up to 10,000 times and that the system is 35 percent more efficient than photovoltaic designs that track the sun. One of Rawlemon’s idea is to build these globes into the exterior walls of buildings and use them to generate electricity. For other uses and beautiful images of the globes, click here. […]


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  One Response to “Saturday READ – 22 September 2012”

  1. No spell is broken. The people want money and wealth not realizing that it has been unsubstainable for two decades. Unless they realize this it is just shit.

    Wealth must be reduced – the rich have to lose the most of it because they have the most. But this is still not a topic. This is no class war. This is status quo thinking and thats why neither Portual, Spain or Greece is going anywhere at the moment.

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