Wisdom of the West: October 2011

27 October 2011

Class War Pigs

The Wild Ride of the 1%-ers (boo frickin' hoo: "Mommy, why are all these strangers on our plane?")

Occupy Wall Street's Battle Against American-Style Authoritarianism

The Class War Has Begun (Frank Rich) Oh, and tear gas and flash grenades are chemical weapons.

(For linkage: h/t to the ever-observant BLCKDGRD. When will he blog again? And to RealityZone as well.)

22 October 2011

I think it's pretty big news when the President of the United States announces that all American troops who have been entangled in an eight-year foreign adventure of his predecessor's doing in Iraq will be home for Christmas. There are still questions about the role of Blackwater/Xe and other military contractors, but this is the fulfillment of a campaign promise by President Obama which many of us felt should have come much, much sooner. I have recognized how institutional concerns and Obama's own trepidation in dealing with the military-industrial powers-that-be have hampered these efforts. But here it is. It is major news. I applaud it. What's important, however, is what the contenders for the Republican nomination for office think about it—which will inevitably be the focus of all the Sunday political talk-shows. Oh, and what Sen. John McCain (R. Loser) and Lindsey Graham (R. So Closeted) feel about it. One hopes the resources to support this misbegotten war-like adventure can be put to better use rebuilding our own economy.

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The Occupy Wall Street/Occupy Everywhere/Occupy Together let's call it a 'movement' (this cycle's Move On?) is standing pat. Occupistas are occupying all over the Western world. Were I a commander of forces, I would shift focus a bit, especially in Washington, DC. "Occupy K Street" should be the mantra. Yes, corporate/financial control of the economy and hoarding is causing increasing misery among the 99% of Americans (and others) who are not hedge fund, Goldman Sachs, BoA, etc. affiliated. Calls for austerity, such as cutting back Social Security or Medicare or Veterans benefits, while bankster profits soar cannot stand. But the instrumentality of this control of the economy is the undue influence of MONEY on the law-making and regulatory (and enforcement, as well) processes of government. Money and influence filters into Congress and the Executive through the law firms, PR, and lobby shops of K Street. Break this supply chain link—Occupy K Street—and you stand a chance of making real, long-lasting democratizing effects on our politics and our economy.

Speaking of banksters, Bank of America is once again engaging in the should-be criminal act of privatizing profits and socializing losses. It is attempting to shift $55 trillion of potentially toxic debt exposure to risky Merrill Lynch derivatives from its investment side to its depositor, FDIC-insured side. Glass-Steagall, anyone?

That being said:

'A recent study of the global economy by three complex systems theorists at the Swiss Federal Institute of Technology in Zurich "combines the mathematics long used to model natural systems with comprehensive corporate data to map ownership among the world's transnational corporations," New Scientist reported.[1] -- It confirms that "a few bankers control a large chunk of the global economy..." '

Want to know what the top 50 organizations in this network are (using data as of 2007)?

THE TOP 50 OF THE 147 SUPERCONNECTED COMPANIES

1. Barclays plc
2. Capital Group Companies Inc
3. FMR Corporation
4. AXA
5. State Street Corporation
6. JP Morgan Chase & Co
7. Legal & General Group plc
8. Vanguard Group Inc9. UBS AG
10. Merrill Lynch & Co Inc
11. Wellington Management Co LLP
12. Deutsche Bank AG
13. Franklin Resources Inc
14. Credit Suisse Group
15. Walton Enterprises LLC
16. Bank of New York Mellon Corp
17. Natixis
18. Goldman Sachs Group Inc
19. T Rowe Price Group Inc
20. Legg Mason Inc
21. Morgan Stanley
22. Mitsubishi UFJ Financial Group Inc
23. Northern Trust Corporation
24. Société Générale
25. Bank of America Corporation
26. Lloyds TSB Group plc
27. Invesco plc
28. Allianz SE
29. TIAA
30. Old Mutual Public Limited Company
31. Aviva plc
32. Schroders plc
33. Dodge & Cox
34. Lehman Brothers Holdings Inc*
35. Sun Life Financial Inc
36. Standard Life plc
37. CNCE
38. Nomura Holdings Inc
39. The Depository Trust Company
40. Massachusetts Mutual Life Insurance
41. ING Groep NV
42. Brandes Investment Partners LP
43. Unicredito Italiano SPA
44. Deposit Insurance Corporation of Japan
45. Vereniging Aegon
46. BNP Paribas
47. Affiliated Managers Group Inc
48. Resona Holdings Inc
49. Capital Group International Inc
50. China Petrochemical Group Company
* Lehman still existed in the 2007 dataset used

Research project: Who are the Hill and State lobbyists for these firms? What are the trade groups and organizations they support? Who are their law firms? What are their PACs and Super-PACs and 501(c)(4) organizations? Who do they pay to wine and dine and entice your Representatives and Senators and regulators and their staffs with campaign donations and contributions to their own PACs? These are their instrumentalities in the halls of power. These should be OCCUPIED!

Occupy K Street!