Friday, November 22, 2013


OMNI:  US CAPITALISM NEWSLETTER #15,   Nov. 22, 2013.    Compiled by Dick Bennett for a Culture of Peace and Justice.     (#1 Jan. 30, 2011; #2 August 24, 2011; #3 October 2, 2011; #4 Oct. 29, 2011; #5 Jan. 29, 2012; #6 April 7, 2012; #7 June 8, 2012; #8 July 14, 2012; #9 Nov. 12, 2012; #10 Dec. 27, 2012; #11 Feb. 24, 2013; #12 April 23, 2013; #13, July 7, 2013; #14 August 28, 2013).

What we believe to be the case, what we think should be the case, and what is actually the case.

My blog:  The War Department and Peace Heroes

See Class, Corporations, Deregulation, Economics, Globalization, Go Not to Jail, Greed, Inequality, Information Control, Lobbying, Marx, Military Industrial Complex, Monopoly, Occupy, Regulation, Secrecy, Socialism, Too Big To Fail, US Economic Imperialism, Working Class, and related newsletters.

A Call to the People by George Monbiot:
From: Robert McAfee <>
Date: September 19, 2013, 5:36:29 AM CDT
To: Robert McAfee <>
After more than a quarter of a century of environmental campaigning I’ve come to see that the only thing that really works is public mobilization: the electorate putting so much pressure on governments that they are obliged to take a stand against powerful interests. It doesn’t matter what weapons governments use to confront these interests: what counts is their willingness to use them. A system which undermines public involvement, boosts the power of the financial markets and reduces love and passion and delight to a column of figures is unlikely to enhance the protection of the natural world.

Nos. 9, 10, 11, 12 at end.

Contents #13
Dick, Moyers & Co.: Victims of US Capitalism in Milwaukee
Scheer,  Predatory Takeover, The Great Stickup
Taibbi, Big Banks Price-Fixing
Dick, Warrior Capitalism
Taibbi, Everything Rigged
Leech, Capitalism Genocidal, Rev. by Sethness
Munoz, US Supreme Court Protects Corporations, MM Silent
Richard Wolff
Kroll, 2012 Elections and Billionaires
Gibson, Public Banking

Contents #14
Leibovich: US Capitalism Washington, DC,
Cox: The Market as God
Moyers: Freeland, Taibbi, Income Inequality
Birdsell:  Poverty of Working Poor
Ockert:  SNAP Handouts Help Short-term
Hedges:  Global US Capitalism, World’s Elites vs. World’s Poor
Trainor:  And Climate Change, 180 Degree Turn Needed Now
Bennett:  Chomsky, Bolivia (long-term gains) vs. US (short-term)
Faulkner:   Over-accumulation of Capitalism: 
Defenders of a Modified Capitalism
Admati and Hellwig: Changing the Banking System
Haque: Changing the Economic System
Strong and Mackey: Conscious Capitalists Can Solve World’s Problems
Welch: Positive Vision Needed

Contents #15 Nov. 22, 2013 (11 essays)
Frontline, JPMorgan Fined $13 Billion, the Price of Business as Usual
Hedges (2 essays on disintegrating Corporate State)
Moyers & Company:  Interview of Heather Gerken and Joyce Appleby
Moyers & Co., Interview of Gretchen Morgenson, Author of Reckless Endangerment
Nichols and  McChesney, Dollarocracy
Gotesdiener, A Dream Foreclosed: Black America and the Fight for a Place to Call Home
Senator Sanders, Morally and Economically Sound Budget
Speth, Manifesto for a New Economy
Appleby, Libertarian View of Flexible Capitalism
Brown, Costa Rican (and North Dakotan!) Public Banking


It's the largest penalty ever levied against any company. 

On Tuesday,
JPMorgan agreed to pay a $13 billion civil penalty for selling risky mortgage products in the run-up to the financial crisis. 

But how does the fine stack up to the bank's profits? 

And, five years after the meltdown, why hasn't a single Wall Street executive faced criminal charges for selling those "toxic assets"? Are they "too big to jail"? 

This weekend, watch The Untouchables, our January 2013 investigation into how Wall Street's leaders have continued to avoid prosecution. 

It's one of the more than 150 films streaming for free on FRONTLINE's website.
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Chris Hedges | Our Invisible Revolution

Truthdig Op-Ed: As long as most citizens believe in the ideas that justify global capitalism, the private and state institutions that serve our corporate masters are unassailable. When these ideas are shattered, the institutions that buttress the ruling class
deflate and collapse. The battle of ideas is percolating below the surface. It is a battle the corporate state is steadily losing. An increasing number of Americans are getting it. They know that we have been stripped of political power.

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Jeremy Hammond. (photo: unknown)
Jeremy Hammond. (photo: unknown)

Feeding the Flame of Revolt

By Chris Hedges, TruthDig, RSN, 18 November 13
  was in federal court here Friday for the sentencing of Jeremy Hammond to 10 years in prison for hacking into the computers of a private security firm that works on behalf of the government, including the Department of Homeland Security, and corporations such as Dow Chemical. In 2011 Hammond, now 28, released to the website WikiLeaks and Rolling Stone and other publications some 3 million emails from the Texas-based company Strategic Forecasting Inc., or Stratfor.
The sentence was one of the longest in U.S. history for hacking and the maximum the judge could impose under a plea agreement in the case. It was wildly disproportionate to the crime - an act of nonviolent civil disobedience that championed the public good by exposing abuses of power by the government and a security firm. But the excessive sentence was the point. The corporate state, rapidly losing credibility and legitimacy, is lashing out like a wounded animal. It is frightened. It feels the heat from a rising flame of revolt. It is especially afraid of those such as Hammond who have the technical skills to break down electronic walls and expose the corrupt workings of power.
"People have a right to know what governments and corporations are doing behind closed doors," Hammond told me when we met in the Metropolitan Correctional Center in Manhattan about a week and a half before his sentencing.

MOYERS 10-13-13
Moyers interviewed two excellent people this morning: Heather Gerken on the  drive by the rich and their tools to deregulate the country, and Joyce Appleby in the scientific revolution against religious dogma between the time of Columbus and that of Darwin.

Discussed the history and consequences of the efforts by wealthy individuals and corporations, organizations like the Heritage Society, and individuals like Ed Meese, Koch brothers, Carl Rove to eliminate regulation of money in politics.  The majority of the present Supreme Court has become their powerful ally.   Citizens United is one catastrophic culmination, and the present McCutcheon case will sweep much more away.   Now a handful of people can determine the government’s agenda and even specific laws.   Money Is Power means it controls the three branches of government.
Also discussed effective way deregulators have successfully used the First Amendment Free Speech clause.   Money has become protected speech.   Gerken reminds us that another principle—equality—is equally important, if we are to have a democracy and not a plutocracy. 




How Outsized Ambition, Greed, and Corruption Created the Worst Financial Crisis of Our Time

Gretchen Morgenson and Joshua Rosner

St. Martin's Griffin

Email Print
Gretchen Morgenson and Joshua Rosner Reckless Endangerment


A Washington Post Notable Nonfiction Book for 2011
One of The Economist’s 2011 Books of the Year

In Reckless Endangerment, Gretchen Morgenson exposes how the watchdogs who were supposed to protect the country from financial harm were actually complicit in the actions that finally blew up the American economy. Drawing on previously untapped sources and building on original research from coauthor Joshua Rosner—who himself raised early warnings with the public and investors, and kept detailed records—Morgenson connects the dots that led to this fiasco.
Morgenson and Rosner draw back the curtain on Fannie Mae, the mortgage-finance giant that grew, with the support of the Clinton administration, through the 1990s, becoming a major opponent of government oversight even as it was benefiting from public subsidies. They expose the role played not only by Fannie Mae executives but also by enablers at Countrywide Financial, Goldman Sachs, the Federal Reserve, HUD, Congress, and the biggest players on Wall Street, to show how greed, aggression, and fear led countless officials to ignore warning signs of an imminent disaster.
Character-rich and definitive in its analysis, and with a new afterword that brings the story up to date, this is the one account of the financial crisis you must read.



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RECKLESS ENDANGERMENT by Gretchen Morgenson, Joshua RosnerKirkus Book Reviews
Read the Kirkus Review of RECKLESS ENDANGERMENT How Outsized Ambition, Greed, and Corruption Led to Economic Armageddon. New York Times business correspondent Morgenson (The Capitalists' Bible, 2009, etc.) and investment consultant Rosner combine their expertise in a fresh look at the causes of the 2008 mortgage meltdown.
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Gretchen Morgenson on Industry Influence

from PRO 1 year ago NOT YET RATED
Moyers talks with Pulitzer Prize-winning New York Times reporter and columnist Gretchen Morgenson on how money and political clout enable industries to escape regulation and enrich executives at the top.

Friday, October 25, 2013
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The Lies That Will Kill America

News Corp. headquarters in New York. (Photo: Mary Altaffer/AP/DAPD)Here in Manhattan the other day, you couldn’t miss it — the big bold headline across the front page of the tabloid New York Post, screaming one of those sick, slick lies that are a trademark of Rupert Murdoch’s right-wing media empire. There was Uncle Sam, brandishing a revolver and wearing a burglar’s mask. “UNCLE SCAM,” the headline shouted. “US robs bank of $13 billion.”
"The problem: ideology and self-interest trump the facts or even caring about the facts, whether it’s banking, Obamacare or global warming."
Say what? Pure whitewash, and Murdoch’s minions know it. That $13 billion dollars is the settlement JPMorgan Chase, the country’s biggest bank, is negotiating with the government to settle its own rip-off of American homeowners and investors — those shady practices that five years ago helped trigger the financial meltdown, including manipulating mortgages and sending millions of Americans into bankruptcy or foreclosure. If anybody’s been robbed it’s not JPMorgan Chase, which can absorb the loss and probably take a tax write-off for at least part of it. No, it’s the American public. In addition to financial heartache we still have been denied the satisfaction of seeing jail time for any of the banksters who put our feet in cement and pushed us off the cliff.
This isn’t the only scandal JPMorgan Chase is juggling. A $6 billion settlement with institutional investors is in the works and criminal charges may still be filed in California. The bank is under investigation on so many fronts it’s hard to keep them sorted out – everything from deceptive sales in its credit card unit to Bernie Madoff’s Ponzi scheme to the criminal manipulation of energy markets and bribing Chinese officials by offering jobs to their kids.
Nor is JPMorgan Chase the only culprit under scrutiny. Bank of America was found guilty just this week of civil fraud, and a gaggle of other banks is being investigated by the government for mortgage fraud. No wonder the camp followers at Fox News, The Wall Street Journal, CNBC and other cheerleaders have ganged up to whitewash the banks. If justice is somehow served, this could be the biggest egg yet across the smug face of unfettered, unchecked, unaccountable capitalism.
One face in particular: Jamie Dimon, the chairman and CEO of JPMorgan Chase. One of Murdoch’s Fox Business News hosts, Charlie Gasparino, claims the Feds are on a witch hunt against Dimon for criticizing President Obama, whose administration, we are told, “is brutally determined and efficient when it comes to squashing those who oppose their policies.” But hold on: Dimon is a Democrat, said to be Obama’s favorite banker, with so much entree he’s been doing his own negotiating with the attorney general of the United States.
But that’s crony capitalism for you, bipartisan to a fault. Rupert Murdoch has been defending Dimon in his media for a long time. Last spring, when it looked like there might be a stockholders revolt against Dimon, Murdoch was one of many bigwigs who rushed to his defense. He tweeted that JPMorgan would be “up a creek” without Dimon. “One of the smartest, toughest guys around,” Murdoch insisted. Whether Murdoch’s exaltation had an effect or not, Dimon was handily reelected.
"Ignorance will kill democracy as surely as the big money that funds and encourages the media outlets, parties and individuals who spew the lies and hate."
Over the last few days, The Wall Street Journal, both Bible and supplicant of high finance as well as one of Murdoch’s more reputable publications — at least in its reporting — echoed the “UNCLE SCAM” indignation of the more lowbrow Post. The government just wants “to appease their left-wing populist allies,” its editorial writers raged, with a “political shakedown and wealth-redistribution scheme.” Perhaps, the paper suggested, the White House will distribute some of the JPMorgan Chase penalty to consumers and advocacy groups and “have the checks arrive in swing congressional districts right before the 2014 election.” We can hear the closet Bolsheviks panting for their handouts now and getting ready to use their phony ID’s to stuff the box on Election Day with multiple illegal ballots.
Such fantasies are all part of the Murdoch News Corp. pattern, an unending flow of falsehood and phony populism that in reality serves only the wealthy elite. Fox News is its ministry of misinformation, the fake jewel of the News Corp. crown, a 24/7 purveyor of flimflam and the occasional selective truth. Look at the pounding they’ve given Obama’s healthcare reform right from the very start, whether the non-existent death panels or claims that it would cause the highest tax increase in history.
While it’s true that the startup of Obamacare has been plagued by its website nightmare and other problems, Fox News consistently has failed to mention Republican roadblocks that prevented the program from getting proper funding or the fact that so many states ruled by Republican governors and legislatures — more than 30 — have deliberately failed to set up the insurance marketplaces critical to making the new system work. Just the other day, Eric Stern at fact-checked a segment on Sean Hannity’s show. “Average Americans are feeling the pain of Obamacare and the healthcare overhaul train wreck,” Hannity declared, “and six of them are here tonight to tell us their stories.”
Eric Stern tracked down each of the Hannity Six and found that while their questions about health reform may have been valid, the answers they received from Hannity or had decided for themselves were not. “I don’t doubt that these six individuals believe that Obamacare is a disaster,” Stern reported. “But none of them had even visited the insurance exchange.”
And there you have the problem: ideology and self-interest trump the facts or even caring about the facts, whether it’s banking, Obamacare or global warming. Ninety-seven percent of climate scientists say that climate change is happening and that humans have made it so, but only four in ten Americans realize it’s true. According to a new study in the journal Public Understanding of Science, written by a team that includes Yale University’s Anthony Leiserowitz, the more that people listen to conservative media like Fox News or Limbaugh, the less sure they are that global warming is real. And even worse, the less they trust science.
Such ignorance will kill democracy as surely as the big money that funds and encourages the media outlets, parties and individuals who spew the lies and hate. The ground is all too fertile for those who will only believe whatever best fits their resentment or particular brand of paranoia. It is, as an old song lyric goes, “the self-deception that believes the lie.” The truth will set us free; the lie will make prisoners of us all.
This work is licensed under a Creative Commons Attribution-Share Alike 3.0 License
Bill Moyers
Journalist Bill Moyers is the host of the new show Moyers & Company, a weekly series of smart talk and new ideas aimed at helping viewers make sense of our tumultuous times through the insight of America’s strongest thinkers.. His previous shows on PBS included NOW with Bill Moyersand Bill Moyers Journal. Over the past three decades he has become an icon of American journalism and is the author of many books, including Bill Moyers Journal: The Conversation Continues, Moyers on Democracy, and Bill Moyers: On Faith & Reason. He was one of the organizers of the Peace Corps, a special assistant for Lyndon B. Johnson, a publisher of Newsday, senior correspondent for CBS News and a producer of many groundbreaking series on public television. He is the winner of more than 30 Emmys, nine Peabodys, three George Polk awards and is the author of three best-selling books.
Michael Winship
Michael Winship, senior writing fellow at Demos and president of the Writers Guild of America-East, is senior writer for Bill Moyers' new weeke


1.                             'Dollarocracy': How Special Interests Undermine Our Democracy ...
Nov 8, 2013 - The United States has experienced fundamental changes that are dramatically detrimental to democracy. any honest assessment of America's ...

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A Dream Foreclosed / One of the top 12 Great Reads of Summer 2013—Ms. Magazine

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Black America and the Fight for a Place to Call Home

By Laura Gottesdiener
Foreword by Clarence Lusane
Release date: Aug 13, 2013
Paperback | $14.95 | 208 pages
Available now from Zuccotti Park Press
Distributed to the trade by Consortium Book Sales and Distribution

Compelling and lucidly told stories .... A riveting book

NAOMI KLEIN, author of The Shock Doctrine

Instead of bottles and bricks thrown at protesters and marchers,

the weapons of choice have been usurious mortgage contracts and signing pens. The language of segregation and interposition has been replaced with false narratives of getting a piece of the American pie and property ownership as freedom. The evil of ‘states’ rights’ has given way to the perniciousness of bankers’ rights. For many families in the black community, home mortgages became new shackles, ending dreams and futures.
—from the foreword by CLARENCE LUSANE
With A Dream Foreclosed, Laura Gottesdiener, a Brooklyn-based investigative journalist, offers a thoroughly researched picture of the housing crisis within the context of the broader financial collapse, showing that the true cost is not in real estate value but in human tragedy—especially the mass displacement of American families and dreams.
Gottesdiener’s “page-turning testimony” reminds us that not a single Wall Street banker has been arrested for the countless predatory loans, acts of fraud and foreclosure abuse that have contributed to the more than ten million people being evicted from their foreclosed homes since 2007—with millions more foreclosures in progress. That ten million people have been thrown out of their homes (the equivalent of the entire population of Michigan) with almost no coverage of their stories or perspectives is itself a testament to corporate influence over public education, mass media and national debate.
Through real-life stories of four American neighborhoods fighting against foreclosure, A Dream Foreclosed gives voice to the silenced population most affected by the global economic crisis. What makes the book so compelling is that Gottesdiener profiles four heroic families who not only challenge the big banks when threatened with foreclosure and eviction—they organize their neighbors and win. Her main subjects, Bertha Garrett in Detroit, Martha Biggs in Chicago, Griggs Wimbley in North Carolina, and Michael Hutchins in Tennessee, all embody the spectacular possibilities that emerge when everyday people challenge corporate power.
 SEE INTERVIEW IN EXTRA! (Nov. 2013), “Laura Gottesdiener on Foreclosures.”   “Ten million Americans have lost their homes to foreclosures. . . .”





31 October 13 AM  Reader Supported News
Bernie Sanders, Budget Deal Must Be Morally and Economically Sound.   Reader Supported News 
Sanders writes: "As a member of the U.S. Senate Budget Committee, I am more than aware that a $17 trillion dollar national debt and a $700 billion deficit are serious problems that must be addressed. But I am also aware that real unemployment is close to 14 percent, that tens of millions of Americans are working for horrendously low wages ..." 



 America the Possible:  Manifesto for a New Economy

·                                 James Gustave Speth

Honorable Mention, General-Non-Fiction category at the 2013 Green Book Festival sponsored by JM Northern LLC
 Visit the America the Possible website
In this third volume of his award-winning American Crisis series, James Gustave Speth makes his boldest and most ambitious contribution yet. He looks unsparingly at the sea of troubles in which the United States now finds itself, charts a course through the discouragement and despair commonly felt today, and envisions what he calls America the Possible, an attractive and plausible future that we can still realize.
The book identifies a dozen features of the American political economy—the country's basic operating system—where transformative change is essential. It spells out the specific changes that are needed to move toward a new political economy—one in which the true priority is to sustain people and planet. Supported by a compelling "theory of change" that explains how system change can come to America, the book also presents a vision of political, social, and economic life in a renewed America. Speth envisions a future that will be well worth fighting for. In short, this is a book about the American future and the strong possibility that we yet have it in ourselves to use our freedom and our democracy in powerful ways to create something fine, a reborn America, for our children and grandchildren.
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James Gustave Speth is Distinguished Senior Fellow at Demos, and Professor of Law at Vermont Law School. He is the author of Red Sky at Morning and The Bridge at the Edge

Author of Shores of Knowledge, The Relentless Revolution of Capitalism, Inheriting the Revolution, and more.
Shores of Knowledge was the focus of discussion, which recounts how curiosity liberated people from dogma during the “age of enlightenment.”  She was upbeat regarding the present resurgence of dogmatic religion in the US, believing that science and other liberations (women, color) were permanent.

Capitalist Chameleon

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Published: January 22, 2010
What is the nature of capitalism? For Joseph Schumpeter, the Austrian-born economist whose writings have acquired a special relevance in the past year or two, this most modern of economic systems “incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one.” Capitalism, Schumpeter proclaimed, cannot stand still; it is a system driven by waves of entrepreneurial innovation, or what he memorably described as a “perennial gale of creative destruction.”
Getty Images (1930s)
A History of Capitalism
By Joyce Appleby
494 pp. W. W. Norton & Company. $29.95
Schumpeter died in 1950, but his ghost looms large over Joyce Appleby’s splendid new account of the “relentless revolution” unleashed by capitalism from the 16th century onward. Appleby, a distinguished historian who has dedicated her career to studying the origins of capitalism in the Anglo-American world, here broadens her scope to take in the global history of capitalism in all its creative — and destructive — glory.
She begins “The Relentless Revolution” by noting that the rise of the economic system we call capitalism was in many ways improbable. It was, she rightly observes, “a startling departure from the norms that had prevailed for 4,000 years,” signaling the arrival of a new mentality, one that permitted private investors to pursue profits at the expense of older values and customs.
In viewing capitalism as an extension of a culture unique to a particular time and place, Appleby is understandably contemptuous of those who posit, in the spirit of Adam Smith, that capitalism was a natural outgrowth of human nature. She is equally scornful of those who believe that its emergence was in any way inevitable or inexorable. . . .
In the book’s final chapters, Apple­by traces the many species of capitalism that have evolved in the postwar era, in places like the United States, Japan, France, Germany, Singapore, Taiwan and South Korea. Many of these success stories reveal that government intervention, far from being inimical to capitalist enterprise, can help sustain it. That’s even true of the United States: between 1941 and 1960, she observes, the government’s share of R. & D. funding went up 13-fold until it supplied a whopping 64 percent of the country’s research funds; government contracts to companies like I.B.M. spurred many innovations. The Internet, vehicle for so much entrepreneurial energy, was the product of government sponsorship.
Alternative paths to capitalist success have only multiplied in recent years. In the closing pages, Appleby chronicles the startling rise of China, which has challenged all the usual assumptions about the inevitable linkage of democracy and capitalism. China’s ascent, Appleby reminds us, should humble anyone who thinks capitalism — or rather, capitalists — cannot adapt to novel circumstances.
Appleby ends with the event that defines our particular moment in the history of capitalism: the financial crisis. She doesn’t pull any punches in assigning blame, from bloated executive compensation packages to rampant deregulation of the financial system. Despite her libertarian leanings, she believes government can and should exercise some restraints on these excesses.
That prospect makes her optimistic about the future. “There is no reason to think that societies won’t continue to modify and monitor their economies in pursuit of shared goals,” she writes. “A relentless revolution, yes, but not a mindless one.”
Stephen Mihm is the author of “A Nation of Counterfeiters: Capitalists, Con Men, and the Making of the United States.”

Public Banking in Costa Rica: A Remarkable Little-known Model by

Ellen Brown, Op-Ed, NationofChange, Nov. 12, 2013: In Costa Rica, publicly-owned banks have been available for so long and work so well that people take for granted that any country that knows how to run an economy has a public banking option. Costa Ricans are amazed to hear there is only one public depository bank in the United States (the Bank of North Dakota), and few people have private access to it. So says political activist Scott Bidstrup, who writes: For the last decade, I have resided in Costa Rica, where we have had a “Public Option” for the last sixty-four years.

Contents #9 Nov. 12, 2012
Hedrick Smith, Who Stole the American Dream?
To Schneiderman:  Prosecute or Resign
Taibbi, Why Government Doesn’t Fight Wall Street
Barofsky, Bailout on TARP
Nader: Where Were the Whistleblowers?
Freeland, Plutocrats
Reich, Book on US Capitalism
Reich, Interviewed About US Capitalism
Survey:  Confidence in Capitalism Declines
Wolf:  Global Financial Fraud
Looking Back at Capitalist Greed, PBS:  Remember the Triangle Fire

Contents #10
Ha-Joon Chang, About Capitalism
Gibney Video: Park Avenue, 1% of 1%:
Hacker and Pierson: Winner-Take-All Politics
Bybee, War on Wages
Foster and McChesney, Monopoly-Finance Capital
Pollin, Full Employment
Wenz, Progressive Taxation
Mondiot, Unregulated Capitalism and Climate Change
Williams, Socialism

Contents #11
Taibbi, Lies about Bailout
Ad Busters on US Capitalism
Ad Busters on Canadian Capitalism
Moyers  & Co. Programs
Richard Wolff’s Books
Jim Wallis, Serving the Common Good

Contents #12
Animated Film on Nature of Capitalism
Connaughton, Why Wall Street Always Wins
Moyers Interviews Sheila Bair and Richard Wolff March 22
Tunnel People and Economic Collapse
Dauvergne and Lister,  Corporate Takeover of Sustainability
Smil, What We Have Taken from Nature
Blinder, Cause and Cure of Economic Crisis
Leopold, World of Top Hedge-Fund Managers
Garson, How the 99% Lives in the Recession

Here is the link to all OMNI topical newsletters:   Many of OMNI’s newsletters expose the liabilities of US capitalism (unregulated corporations, large gap between rich and poor, deceptive advertising, endemic boom and bust, and so on).  See the Index.