AKA: JUST MORE WALL STREET SHENANIGANS!
Hopefully, you haven’t been running around with your hair on fire, screaming THE SKY IS FALLING, THE SKY IS FALLING!!! Because, guess what? It ain’t! Standard and Poors is just another Wall Street “institution” that says, and does, what it wants to, in order to suit their own – and certain benefactors’ – needs.
A great article on AlterNet explains:
“Most people believe that the ratings agencies base their analyses on some set of cold, objective criteria, but that’s not the case. A group of Wall Street analysts . . . get together and discuss various factors, including, in this case, the political scene, and come to a consensus.”
And, that: “According to a Senate investigation concluded earlier this year — a probe that was greeted with a collective “ho-hum” by the corporate media — S&P and Moody’s, another leading agency, “issued the AAA ratings that made … mortgage backed securities … seem like safe investments, helped build an active market for those securities, and then, beginning in July 2007, downgraded the vast majority of those AAA ratings to junk status.” And when they did, it “precipitated the collapse of the [mortgage-backed securities] markets and, perhaps more than any other single event, triggered the financial crisis.”
So, some of the same guys who told all of us that everything was A-Okay with those (questionably) mortgage backed “securities” – because it benefited their golf buddies – are now telling us that The U.S. might not be able to meet it’s future obligations??? They have already proven to be un-objective, untrustworthy charlatans, but most of us were unaware of the Senate investigation’s findings. And, our collective memories are so short these days, that even those of us who were in the know have either forgiven or forgotten.
This is all politically motivated by the big HAVES, at the expense of the rest of us, the have NOTS. But, I think that all of you are better off getting the full benefit of the article by . . . reading the article.
So, here it is:
Don’t knee jerk. You’ll only regret it, while someone – who was already much better off than you – laughs all the way to the bank!
— YUR
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- S&P’s History of Relentless Political Advocacy (news.firedoglake.com)
2012 Oscar Baffler
Published January 24, 2012 Commentary , Current Events , Media , News 2 CommentsTags: Academy Award, Entertainment, Extremely Loud & Incredibly Close
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This morning they announced all the nominees for the 2012 Academy Awards. All the expected actor, actress (both supporting and leading), director, and picture names came up, as one might expect. With all the other awards shows, that precede the Oscars, there usually are no noticeable surprises when they read off the list of nominees. Occasionally, there might be a glaring omission. A well reviewed movie, with an A-list director and/or cast, that somehow doesn’t make the cut. But this time, in the Best Picture category, there was a glaring addition.
Somehow, the movie Extremely Loud and Incredibly Close received a Best Picture nod! From what I’ve heard and read, there were no outright pans or slams of this movie, but merely tepid reviews. Roger Ebert gave it a 2 and ½ out of 4 stars, and used the word “contrivance” in describing it. Leonard Maltin also said the story was “contrived”. Rex Reed called it “labored and muddled” and even used adjectives like preposterous and manipulation in describing the story. Tim Lammers – I’ve never heard of this reviewer before – gave it a 2 and ½ out of 4 stars, and even the website Rotten Tomatoes gave it only a 5.8 out of a possible 10. By all accounts, this is the most wishy-washy reviewed movie ever, to be nominated for a Best Picture Oscar. So, why put it up for consideration?
It does have an extremely likeable cast, in Tom Hanks and Sandra Bullock (arguably America’s Cinematic Sweethearts), John Goodman, Zoe Caldwell and Max von Sydow. And, apparently a strong performance by newcomer Thomas Horn, as the young son searching for some meaning in his father’s (Tom Hanks) death, at the World Trade Center, on 9/11/2001. But, only Max von Sydow is nominated in the Best Supporting Actor category. From what I’ve seen, it received no other nominations. So, what gives?
The movie doesn’t seem to have any kind of political message. There’s no controversy, or anything. And 9/11 is still a very controversial subject, both here and especially abroad, despite the Story Closed attitude, that both the US government and the dutiful corporate media show it. Could it be that the movie’s blandness fits in with the Let’s get on with it attitude that so many want for the issue? I don’t know. I haven’t seen it. And, based upon the true reviews, the ones that came out prior to this unexpected nomination, it’s unlikely that I will watch it. Nothing personal. I’m a fan of all the major actors in it. It just seems to be a very non-compelling movie.
The movie’s nomination is the surprise of the awards season. At best, it’s just a puzzling little oddity. At worst, the “contrivance” and “manipulation” of the situation make it more than a little suspicious.
Keep thinking, friends.
YUR
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