Robert Reich | Another Giant Bailout of Wall Street?
The tide is turning
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Amy Goodman, Op-Ed: "On Labor Day 2008, the "Democracy Now!" news team and I were covering the first day of the Republican National Convention in St. Paul. Thousands protested outside. I was on the convention floor, interviewing delegates from what that week was the hottest state, Alaska. Blocks away, my colleagues Sharif Abdel Kouddous and Nicole Salazar were covering a police assault on the dispersing crowd of marchers."
NationofChange Fundraising Appeal: NationofChange has been an unfiltered media resource for the Occupy Wall Street movement even while the mainstream media has ignored, censored, and undermined the progress of the people. Rather than delivering consumers to advertisers NationofChange works tirelessly to deliver people to one another. Make a secure, tax-deductible donation to NationofChange today, and help sustain this vital service to the community.
Special Coverage: As we enter Day 18 of the Wall Street Occupation the movement begin to pick up steam across the country. Thousands of activists have descended on Wall Street since this past weekend as part of the #OccupyWallStreet protest organized by several action groups. What follows is a live video stream and live Twitter feed of this event.
Jim Hightower, Op-Ed: "While the establishment is befuddled by the plethora of issues and slogans within the protest, confused by the absence of hierarchical order and put off by its festive spirit, that's their problem. The 20- and 30-somethings who are driving this movement know what they're doing and are far more organized (but much differently organized) than their snarky critics seem able to comprehend."
Lois Beckett, News Analysis: "In 2008, in the wake of a $1.6 billion settlement by the German engineering giant Siemens for bribing officials around the world, Koch conducted an internal investigation of its own payment practices. The company found that its France-based affiliate, Koch-Glitsch, had paid illegal bribes to secure contracts in India, Africa and the Middle East, including bribes to government officials, a practice banned by the Foreign Corrupt Practices Act."
Amy Goodman, Video Feature: Tomorrow, thousands of people are expected to gather in Freedom Plaza in Washington, D.C., for a "people's assembly" organized by a movement calling itself "October 2011." They plan to occupy the plaza until they have brainstormed sustainable solutions to promote universal healthcare and economic justice, as well as end the nearly decade-long Afghanistan War. We speak with two of the movement's organizers, Kevin Zeese and Dr. Margaret Flowers.
Kerry Eleveld, News Analysis: "Here are the basic rules of the road: Protesters know that if they stop moving on the White House sidewalk within 10 yards to the right or left of the center line – the 'picture postcard zone' – they will risk being arrested if they don't respond to verbal warnings. Once arrested, peaceful protesters can have typically been offered what's known as the 'post-and-forfeit' option where they can post bail (around $50 to $100) and then choose to forfeit it without a trial."
Doyle Canning, Op-Ed: "This confrontation with B of A came at the end of a raucous march of over 3,000 people carrying colorful banners and banging drums to confront the nation's largest lender over its role in the economic crisis. The march was led by members of City Life/Vida Urbana, who carried signs that told their stories of predatory lending and foreclosure in Boston. As the rowdy procession snaked through downtown, they were joined by members of UNITE/HERE picketing at the Hyatt Hotel, and CWA picketing at Verizon Wireless."
David Goldstein, News Report: "Veterans for Common Sense, a nonprofit, nonpartisan activist group for veterans' interests, and health care issues in particular, compiled the statistics from a raft of government reports. In whittling them down to just the bare data, the group created a grim shorthand for the toll the wars have taken on a generation of young men and women."
Robert Reich, Op-Ed: "If you want the real reason, follow the money. A Greek (or Irish or Spanish or Italian or Portugese) default would have roughly the same effect on our financial system as the implosion of Lehman Brothers in 2008. Financial chaos. Investors are already getting the scent. Stocks slumped to 13-month low on Monday as investors dumped Wall Street bank shares. The Street has lent only about $7 billion to Greece, as of the end of last year, according to the Bank for International Settlements. That's no big deal."
Melissa Healy, News Report: "Last Saturday, prior to the thousands-strong march of Wall Street protestors attempting to cross the Brooklyn Bridge, which ended in some 700 arrests, the first edition of The Occupied Wall Street Journal hit New York City's streets. Within three days, all 50,000 copies had been snapped up and distributed by volunteers throughout the five boroughs, leading to another print run Tuesday ahead of the paper's second edition, which comes out Friday."
Paul Kiel , News Analysis: "Documents obtained by ProPublica — government audit reports of GMAC, the country's fifth-largest mortgage servicer — provide the first detailed look at the program's oversight. They show that the company operated with almost no oversight for the program's first eight months. When auditors did finally conduct a major review more than a year into the program, they found that GMAC had seriously mishandled many loan modifications — miscalculating homeowner income in more than 80 percent of audited cases, for example."
Amy Goodman, Op-Ed: "On Labor Day 2008, the "Democracy Now!" news team and I were covering the first day of the Republican National Convention in St. Paul. Thousands protested outside. I was on the convention floor, interviewing delegates from what that week was the hottest state, Alaska. Blocks away, my colleagues Sharif Abdel Kouddous and Nicole Salazar were covering a police assault on the dispersing crowd of marchers." 
NationofChange Fundraising Appeal: NationofChange has been an unfiltered media resource for the Occupy Wall Street movement even while the mainstream media has ignored, censored, and undermined the progress of the people. Rather than delivering consumers to advertisers NationofChange works tirelessly to deliver people to one another. Make a secure, tax-deductible donation to NationofChange today, and help sustain this vital service to the community. 
Special Coverage: As we enter Day 18 of the Wall Street Occupation the movement begin to pick up steam across the country. Thousands of activists have descended on Wall Street since this past weekend as part of the #OccupyWallStreet protest organized by several action groups. What follows is a live video stream and live Twitter feed of this event. 
Jim Hightower, Op-Ed: "While the establishment is befuddled by the plethora of issues and slogans within the protest, confused by the absence of hierarchical order and put off by its festive spirit, that's their problem. The 20- and 30-somethings who are driving this movement know what they're doing and are far more organized (but much differently organized) than their snarky critics seem able to comprehend." 
Lois Beckett, News Analysis: "In 2008, in the wake of a $1.6 billion settlement by the German engineering giant Siemens for bribing officials around the world, Koch conducted an internal investigation of its own payment practices. The company found that its France-based affiliate, Koch-Glitsch, had paid illegal bribes to secure contracts in India, Africa and the Middle East, including bribes to government officials, a practice banned by the Foreign Corrupt Practices Act." 
Kerry Eleveld, News Analysis: "Here are the basic rules of the road: Protesters know that if they stop moving on the White House sidewalk within 10 yards to the right or left of the center line – the 'picture postcard zone' – they will risk being arrested if they don't respond to verbal warnings. Once arrested, peaceful protesters can have typically been offered what's known as the 'post-and-forfeit' option where they can post bail (around $50 to $100) and then choose to forfeit it without a trial." 
Doyle Canning, Op-Ed: "This confrontation with B of A came at the end of a raucous march of over 3,000 people carrying colorful banners and banging drums to confront the nation's largest lender over its role in the economic crisis. The march was led by members of City Life/Vida Urbana, who carried signs that told their stories of predatory lending and foreclosure in Boston. As the rowdy procession snaked through downtown, they were joined by members of UNITE/HERE picketing at the Hyatt Hotel, and CWA picketing at Verizon Wireless." 
David Goldstein, News Report: "Veterans for Common Sense, a nonprofit, nonpartisan activist group for veterans' interests, and health care issues in particular, compiled the statistics from a raft of government reports. In whittling them down to just the bare data, the group created a grim shorthand for the toll the wars have taken on a generation of young men and women." 
Robert Reich, Op-Ed: "If you want the real reason, follow the money. A Greek (or Irish or Spanish or Italian or Portugese) default would have roughly the same effect on our financial system as the implosion of Lehman Brothers in 2008. Financial chaos. Investors are already getting the scent. Stocks slumped to 13-month low on Monday as investors dumped Wall Street bank shares. The Street has lent only about $7 billion to Greece, as of the end of last year, according to the Bank for International Settlements. That's no big deal." 
Melissa Healy, News Report: "Last Saturday, prior to the thousands-strong march of Wall Street protestors attempting to cross the Brooklyn Bridge, which ended in some 700 arrests, the first edition of The Occupied Wall Street Journal hit New York City's streets. Within three days, all 50,000 copies had been snapped up and distributed by volunteers throughout the five boroughs, leading to another print run Tuesday ahead of the paper's second edition, which comes out Friday." 
Paul Kiel , News Analysis: "Documents obtained by ProPublica — government audit reports of GMAC, the country's fifth-largest mortgage servicer — provide the first detailed look at the program's oversight. They show that the company operated with almost no oversight for the program's first eight months. When auditors did finally conduct a major review more than a year into the program, they found that GMAC had seriously mishandled many loan modifications — miscalculating homeowner income in more than 80 percent of audited cases, for example." 
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