polly7
polly7's JournalHSBC and the Upside-Down World of Austerity Politics
By Jérôme Roos
Source: teleSUR English
February 13, 2015
What is rewarded above is punished below
Profits are privatized, losses are socialized.
~ Eduardo Galeano, Upside Down: A Primer for the Looking-Glass World (2001)
Instead, the UK like the rest of Europe ushered in an age of austerity. Where the billions of the rich escaped to Switzerland and the Caymans, the benefits of the poor were cut to balance the budget. Last year, David Cameron pledged to slash wasteful government spending for another decade, citing as reason that it comes out of the pockets of the same taxpayers whose living standards we want to see improve. The irony of the Prime Minister speaking from a golden throne was hardly lost on anyone. Welcome to the topsy-turvy reality of austerity politics.
Of course the diligent observer will not have been very surprised by the news of HSBCs umpteenth mega-scandal. Already back in 2012, financial journalist Matt Taibbi made it clear that the bank had been engaged in more or less the worst behavior that any bank can possibly be guilty of. So far, HSBC has managed to evade prosecution despite laundering billions of dollars for some of the most notorious Mexican drug cartels, cutting illegal deals with a Saudi bank linked to Al Qaeda, and systematically rigging interbank interest rates, reaping lavish profits in the infamous LIBOR scandal.
The result is a stable set of outcomes in which profits are perennially privatized and losses are systematically socialized. Those who question this state of affairs are told that there is no alternative, and those who actively resist like the social movements and progressive governments in Latin America and Southern Europe are ruthlessly punished for it. First the cops will beat ordinary citizens over the head when they protest, then investors will beat popular governments over the head when they do the same. Foreign capital is withdrawn, bond yields spike up, stock markets collapse. Where the bankers above are rewarded for criminal behavior, those who struggle for justice from below find themselves imprisoned within the narrowing perimeters of the permissible.
Full article: https://zcomm.org/zcommentary/hsbc-and-the-upside-down-world-of-austerity-politics/
War in Ukraine: Who Wants War? And Who Doesn’t?
by William Boardman / February 12th, 2015
Just as NATO allies Germany and France were undertaking a peace initiative with Russia and Ukraine, U.S. Secretary of State John Kerry turned up in Kiev at the same time, seeking to poison the talks before they started by spouting yet again the ritual U.S. accusation of Russian aggression. The incantation is meaningless without context. Its purpose is mesmerize a false consciousness. Russian aggression may or may not exist in the events of the past year, just like Russian self-defense. Reporting on the ground has been too unreliable to support any firm analysis, never mind the provocative Russian aggression the U.S. brandishes as a virtual call for war.
Its hard to find anyone who doesnt urge compliance with the Minsk Agreement, even if that means different things to different people. Neither side in Ukraine has come close to significant compliance for any length of time. Poroshenko calls for the ceasefire, but omits the international monitoring called for in the agreement. He calls for closing the border with Russia, which is NOT part of the agreement. When he calls for the withdrawal of foreign troops, he omits mention of NATO. When he refers to elections, he omits Kievs failure to pass the legislation it promised, and he omits the elections that have already been held in the Republics of Donetsk and Luhansk [see Election Note at the end of this article]. Poroshenko also omits amnesty for separatists, improving humanitarian conditions in the region, and the recovery program, all of which are part of the Minsk Agreement.
Full article: http://dissidentvoice.org/2015/02/war-in-ukraine-who-wants-war-and-who-doesnt/
The Public Officials Who Need Locking Up
by Jonathan Cook / February 12th, 2015
The HSBC got off lightly everywhere, but its treatment in the UK was exceptional. The head of the British tax authority, Dave Hartnett, unlike his counterparts in several other countries, decided to quietly cover up the matter, massively defrauding the British taxpayer as well as letting lots of very rich people get away with breaking the law. Hartnett retired a short time later and was given a well-paid consultancy at HSBC.
Vince Cable, the business minister, said: We simply dont know at present if Lord Green was aware of or condoned these practices. Which would require us to believe that 6,000 wealthy British clients knew about HSBCs illegal practices and hid their money in its Swiss accounts to evade tax, while Green himself who presumably mixes in exactly the same circles of the 0.1% was oblivious to what what was going on in his own company.
Full article: http://dissidentvoice.org/2015/02/the-public-officials-who-need-locking-up/
‘Realists’ Warn Against Ukraine Escalation
Published on
Wednesday, February 11, 2015
by Consortium News
The neocons war-and-more-war bandwagon is loaded up again and rolling downhill as everyone who matters in Washington is talking up sending sophisticated weapons to Kiev to escalate Ukraines civil war, but some realists, an endangered species in U.S. foreign policy, dissent.
byRobert Parry
Two of the few remaining realists with some access to elite opinion circles, Stephen M. Walt and John J. Mearsheimer, have written articles opposing the new hot idea in Washington to arm the Kiev regime so it can more efficiently kill ethnic Russians battling to expand their territory in eastern Ukraine.
As classic realists, these two academics do not argue so much the moral issue of whether the eastern Ukrainians should be slaughtered in the Kiev regimes determination to crush all resistance to its authority or whether the U.S. support for last years overthrow of elected President Viktor Yanukovych was justified. Instead, they focus on whether arming the Kiev regime makes sense for U.S. interests.
Moreover, the Ukraine crisis did not begin with a bold Russian move or even a series of illegitimate Russian demands; it began when the United States and European Union tried to move Ukraine out of Russias orbit and into the Wests sphere of influence. That objective may be desirable in the abstract, but Moscow made it abundantly clear it would fight this process tooth and nail.
But the reason that people like Assistant Secretary of State Victoria Nuland and U.S. Ambassador Geoffrey Pyatt, who helped plot the overthrow of the Yanukovych government a year ago, is that they represent the neocon/liberal-interventionist dominance of Official Washington. Thats also why key media advocates for the Iraq War, like the Washington Posts Fred Hiatt and the New York Times Thomas L. Friedman, still have their jobs; they ran with the powerful herd and are proof that there really is safety in numbers.
Citing the spiral model, Walt warns that the current popular idea of arming the Kiev forces will only make things worse. It certainly will not enable Ukraine to defeat the far stronger Russian army; it will simply intensify the conflict and add to the suffering of the Ukrainian people.
http://www.commondreams.org/views/2015/02/11/realists-warn-against-ukraine-escalation
All those supporting and allowing the slaughter of citizens of eastern Ukraine with millions/billions, and now weapons, don't care ONE BIT for their suffering. This is Libya all over, and it's just as sickening.
As New Ukraine Peace Talks Begin, Risk of Broader Conflict Looms
Published on
Wednesday, February 11, 2015
byCommon Dreams
byDeirdre Fulton, staff writer
Poroshenko arrives in Minsk saying situation is on the verge of going 'out of control.'
Even as the world leaders convened, violence flared in eastern Ukraine, underscoring the critical need to reach an agreement.
"There is no military solution to this conflict, only a political one; and a new supply of U.S. arms will provide ammunition for Russian leaders who believe, fairly or not, that America is attempting to turn Ukraine into a military base near Russias borders."
Katrina vanden Heuvel, The Nation
As he arrived in Minsk, Ukrainian president Petro Poroshenko said: "Either the situation goes down the road of de-escalation, ceasefire ... or the situation goes out of control."
According to the New York Times:
Negotiations on what exactly the leaders would discuss continued even as the various governments announced that their leaders were heading to Minsk. The talks are based on a 12-point peace agreement called the Minsk Protocol, signed here in September but violated almost immediately.
A group of negotiators from Russia and Ukraine, as well as from the separatist strongholds of Donetsk and Luhansk, were trying to make the final arrangements for a cease-fire and the size of a demilitarized zone, according to a Ukrainian diplomat who spoke on the condition of anonymity because he was not authorized to discuss the talks.
Katrina vanden Heuvel, The Nation
Full article: http://www.commondreams.org/news/2015/02/11/new-ukraine-peace-talks-begin-risk-broader-conflict-looms
German Sociologists on Crimea’s Choice
by Konstanin Kosaretsky / February 11th, 2015
In answer to the most important question: Do you endorse Russias annexation of Crimea? 82% of the respondents answered yes, definitely, and another 11% yes, for the most part. Only 2% gave an unambiguously negative response, and another 2% offered a relatively negative assessment. Three percent did not specify their position.
We feel that this study fully validates the results of the referendum on reunification with Russia that was held on March 16, 2014. At that time 83% of Crimeans went to the polling stations and almost 97% expressed support for reunification.
Ukrainians continue to question whether this was a credible outcome, but it is now backed up by the data obtained by the Germans. The 82% of the respondents who expressed their full confidence in the results of the Russian election make up the core of the electorate who turned up at the ballot boxes on March 16, 2014.
Full article: http://dissidentvoice.org/2015/02/german-sociologists-on-crimeas-choice/
"Who could be a more objective judge on this issue than the residents of the peninsula themselves?" Who indeed?
K&R. nt.
Saying No to Torture: A Gallery of US Heroes
Tuesday, 10 February 2015 12:36
By Rebecca Gordon, TomDispatch | Op-Ed
John Kiriakou, a retired CIA agent, has recently been released from prison after blowing the whistle on the Bush administration's torture program. In 2007, Kiriakou became the first CIA official to publicly confirm and detail the agency's use of waterboarding. (Photo: Troy Page / t r u t h o u t)
.....And any attorney in the Justice Department's Office of Legal Counsel would naturally have written the "torture memos" that John Yoo and Jay Bybee created in 2002, in which they sought to provide legal cover for the CIA's torture practices by redefining torture itself more or less out of existence. For some act to count as "severe physical suffering" and therefore as torture, they wrote, the pain inflicted would have to be of a sort "ordinarily associated with a serious physical condition, such as death, organ failure, or serious impairment of bodily functions."
Wouldn't anyone do what these men did, if they, too, were frightened out of their wits? Actually, no. In fact, the sad, ugly story of the U.S. response to the criminal acts of 9/11 is brightened by a number of people who have displayed genuine courage in saying no to and turning their backs on torture. Their choices prove that Bush, Cheney, & Co. could have said no as well.
Though you'd never know it here, no level of fear in public officials makes acts of torture (or the support of such acts) any less criminal or more defensible before the law. It's remarkably uncomplicated, actually. Torture violates U.S. and international law, and those responsible deserve to be prosecuted both for what they did and to prevent the same thing from happening the next time people in power are afraid.
Some of those who rejected torture, like CIA official John Kiriakou and an as-yet-unnamed Navy nurse, directly refused to practice it. Some risked reputations and careers to let the people of this country know what their government was doing. Sometimes an entire agency, like the FBI, refused to be involved in torture.
I'd like to introduce you to six of these heroes:
Full article: http://www.truth-out.org/opinion/item/29042-saying-no-to-torture-a-gallery-of-us-heroes
Latin America unites against US attack on Venezuelan democracy
By Frederick B. Mills, COHA
COHA
Tuesday, Feb 10, 2015
A special commission of the two largest associations of Latin American nations, CELAC (which includes all of the Latin America and the Caribbean) and UNASUR (which represents South American countries) met today in Montevideo, Uruguay, to analyze the relationship between the United States and Venezuela as well as the situation inside Venezuela. The commission, which has been convened at the request of the President of Venezuela, Nicolas Maduro, includes the foreign ministers Delcy Rodríguez (Venezuela), Ricardo Patiño (Ecuador), María Ángela Holguín (Colombia) and Mauro Vieira (Brazil), as well as the Secretary General of UNASUR, Ernesto Samper.
Early indications are that this broad based association is calling for the U.S. to cease interference in the internal affairs of Venezuela; for Caracas to resume a dialogue inside Venezuela; as well as for the commencement of a U.S.Venezuela dialogue. This call is only the latest in a series of statements of solidarity with Caracas and the rejection of U.S. meddling in the internal affairs of member states issued by regional political and economic associations as well as social movements.
In an interview with the author on February 9, 2015, Director of the Council on Hemispheric Affairs, Larry Birns, observes:
Washington is basically being berated by Latin America for its campaign to pressure and to otherwise weigh-in against the regions sovereignty and its inalienable right to conduct its own economic and political policies according to its own writ. It appears that Washington believes it can carve away, in silence, the rest of Latin America, including Cuba, from Venezuela. But the statements coming out of UNASUR and CELAC should serve as a strong reminder that Latin American unity remains intact.
The UNASUR commission has convened at a time of increasing U.S. belligerency towards the Maduro administration in the form of sanctions, unsubstantiated attempts to criminalize and delegitimize the government, and increases in soft power funding to opposition groups inside Venezuela. On February 3, 2015, in response to the expanded sanctions imposed by Washington against Caracas, the Venezuelan Foreign Ministry released a statement that read: The Government of the Bolivarian Republic of Venezuela deplores the continued attacks by the Government of the United States that continue violating the principles of national sovereignty, equal rights and non-interference in the internal affairs inherent in international law (Telesur). There is a sense of urgency within the Chavista camp, that in the face of a divided opposition the role of foreign interference on behalf of the counter revolution may be stepped up to fill the gap. Venezuela, however, is not alone.
Full article: http://axisoflogic.com/artman/publish/Article_69317.shtml
Burying Vietnam, Launching Perpetual War
By Christian Appy / TomDispatch February 8, 2015Photo Credit: Keith Tarrier/Shutterstock.com
In the 1980s, however, the Americans most saddled with blame for abusing Vietnam veterans were the antiwar activists of the previous era. Forget that, in its later years, the antiwar movement was often led by and filled with antiwar vets. According to a pervasive postwar myth, veterans returning home from Vietnam were commonly accused of being baby killers and spat upon by protestors. The spat-upon story -- wildly exaggerated, if not entirely invented -- helped reinforce the rightward turn in American politics in the post-Vietnam era. It was a way of teaching Americans to honor victimized veterans, while dishonoring the millions of Americans who had fervently worked to bring them safely home from war. In this way, the most extraordinary antiwar movement in memory was discredited and dispatched to the trash bin of history.
From the Vietnam War, the Pentagon and its apologists learned fundamental lessons about how to burnish, bend, and bury the truth. The results have been devastating. The fashioning of a bogus American tragedy from a real Vietnamese one has paved the way for so many more such tragedies, from Afghanistan to Iraq, Pakistan to Yemen, and -- if history is any guide -- an unknown one still emerging, no doubt from another of those 133 countries.
Full article: http://www.alternet.org/world/burying-vietnam-launching-perpetual-war
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