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Capitalist Fools

Behind the debate over remaking U.S. financial policy will be a debate over who’s to blame. It’s crucial to get the history right, writes a Nobel-laureate economist, identifying five key mistakes—under Reagan, Clinton, and Bush II—and one national delusion.

What were the critical decisions that led to the crisis? Mistakes were made at every fork in the road—we had what engineers call a “system failure,” when not a single decision but a cascade of decisions produce a tragic result. Let’s look at five key moments.

TVNL Comment: This article omits the biggest scam at the heart of all of our economic problems...the creation of the Federal Reserve. Private, for profit bankers were given charge of our money system. In essence they made money itself a for profit business. You can not earn have to BUY their money!


ISI's VIDEO: Hamid Gul"Mumbai an Inside Job"1/3

New Law Prevents U.S. Tax Dollars From Funding Use of Child Soldiers Abroad

Congress passed a bill that restricts U.S. funding that fuels one of the world's most brutal forms of child exploitation.

Currently, an estimated quarter of a million children serve as soldiers for government forces, paramilitaries and rebel groups around the world. In the past year, American tax dollars funded military assistance to six governments who use children to fight in their armed forces. The Child Soldier Prevention Act, which Congress passed today as part of a larger human trafficking bill, threatens to cut several types of U.S. military assistance to countries that continue to enlist or force children into their ranks.

EPA Drops Rules Easing Controls on Power Plants

Six weeks before leaving office, the Bush administration is giving up on an effort to ease restrictions on pollution from coal-burning power plants, a key plank of its original energy agenda and one that put the president at odds with environmentalists his entire eight years in the White House.

President George W. Bush had hoped to make both changes to air pollution regulations final before leaving office on Jan. 20. In the midst of a coal-fired power plant construction boom, the rules would have made it easier for energy companies to expand existing facilities and to erect new power plants in areas of the country that meet air quality standards.


The 1962 Vatican Document on Clergy Sexual Abuse

The 1962 Vatican document detailing the official position and way to deal with sexual abuse by the clergy. It is a policy of secrecy and cover-up.

Scanned document...

The Best and the Brightest Have Led America Off a Cliff

Don't expect the so-called experts to fix it either. They can't. They are loyal to the decaying political and financial systems that empowered them.

The nation’s elite universities disdain honest intellectual inquiry, which is by its nature distrustful of authority, fiercely independent and often subversive. They organize learning around minutely specialized disciplines, narrow answers and rigid structures that are designed to produce certain answers. The established corporate hierarchies these institutions service -- economic, political and social -- come with clear parameters, such as the primacy of an unfettered free market, and with a highly specialized vocabulary.


FDA advisers weigh risks of asthma drugs

Experts from the Food and Drug Administration's safety office are recommending that medications like Advair and Symbicort no longer be used to treat children with asthma because of the risk of serious breathing problems. But the FDA office that oversees respiratory drugs says most patients benefit from the medications, and the risks can be addressed through warnings and educational materials for patients and doctors.

TVNL Editor's Personal Comment: Advair almost killed me. It made my asthma life threatening. It made so bad that rescue inhalers did not work.  I have been weened off of it since June 30th of 2008 and I have had chronic asthma, but rescue inhalers work and the severity of my ashma has reduced by approximately 70%.


Pentagon ignored danger of roadside bombs, report finds

The military ignored steps before the invasion of Iraq that could have prevented the staggering number of casualties from roadside bombs, the Pentagon's acting inspector general charged Tuesday.

The IG's report says that the military knew years before the war that mines and homemade bombs, which the military calls "improvised explosive devices," would be a "threat . . . in low-intensity conflicts" and that "mine-resistant vehicles" were available.


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