Tuesday, March 8, 2011

Guest: Attorney Peter Mougey

Cue the “Lonely Goatherder” music because this is going to get depressing:

Though the economy added 192,000 jobs last month and the unemployment rate dropped below 9.0%, the labor force participation rate is 64.2%. That’s a lot of people sitting on the sidelines not getting counted in the official unemployment rate.

Yesterday we posted the video of Michael Moore’s speech in Madison, WI last weekend proclaiming that America is “not broke.” Those dirty liberals at Bloomberg News agree.

Attorney Peter Mougey joins the show to talk about how individuals, via tort law, are holding Wall Street accountable.

Jacob Hacker and Paul Pierson have an article in The Washington Post that calls out what is really happening in Wisconsin: The union fight isn’t about benefits. It’s about labor’s influence.

Check out Sam’s interview with Jacob Hacker on the 11/22/2010 Majority Report.

The GOP is trying to hide an anti-unionization measure in an FAA re-authorization bill.

If you are not a Majority Report member you miss out on the Members Only Show podcast. Join today to get your daily recommended allowance of Sam!

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26 Responses to Tuesday, March 8, 2011

  1. Morning all!

    Will Qaddafi leave today?

  2. ttagaris Tim Tagaris
    BOOM: First weekend of WI recall effort blows away expectations: http://wapo.st/hCv8rv

  3. Sunshine Jim says:

    mornin T!

    thank you for your news collecting, yesterday was impressive at Blue Roots Radio.

  4. Today is International Women’s Day:

    oxfamamerica Oxfam America
    RT @jumoconnect Women perform 66% of world’s work, produce 50% of it’s food, yet earn 10% of it’s income & own 1% of it’s property. #IWD

  5. ramses says:

    Morning S.J. & toni

    Hoping that crazy Qaddafi will leave today ~ not holding my breath though

  6. chrislhayes Christopher Hayes
    “may be the single most important decision the White House makes between now and Election Day.” http://bit.ly/gUFiVT

    [snippet]

    “The most conservative thing that can be said right now this would be no time to dismiss the role that speculation plays,” says Greenberger. ” A moderate statement is that speculation is creating volatility that is aggravating the uncertainty in the market. If you start talking to industry people, they’re pulling their hair out. American Bakers Association is going bananas. They all believe that the markets are going screwy because of Wall Street.” A host of businesses and organizations from Virgin’s Richard Branson to Oxfam all make the same case.

    • One way to attempt to constrain these volatile mini-bubbles is for the Commodities Futures Trading Commission to impose “position limits,” essentially limits on the size of the bets that speculators can make. The New Deal-era Commodities Exchange Act gives the CFTC power to curb “excessive speculation,” and the just-passed Dodd-Frank bill explicitly calls for the CFTC to promulgate position limits.

  7. ramses says:

    No Mexico for this gal ~ I don’t even want to go down & visit.

  8. whale_cancer says:

    Maybe we should embrace this folksy comparison between the US budget and a family’s budget. Not many families spend a 28–38% of their budget (let alone a trillion dollars) on nukes, depleted uranium munitions, tanks, etc.

  9. ramses says:

    I am NOT getting Sammy’s voice on the “You Tubes”
    I wonder why??? I couldn’t get it yesterday either – hum

  10. Sunshine Jim says:

    surgery put off for further study, i’m getting a MRI brain scan at 6 pm today.

  11. KadeKo says:

    When it’s about corporations deciding how much per life they’d have to pay in case of an exploding automobile lawsuit, can the actual definition of the word “punitive” be repeated enough here?

  12. Andy Kindler is Hilarious, should be a good show.

  13. ramses says:

    Have had 3 MRI’s about a little over a year ago – nothing was found up there. lol

    • Sunshine Jim says:

      eya ramses,

      was looking for your phone # but it’s lost in the pile.

      sofrajones AT telus.net

      604 and 8649649

      got some stuff showing up in the nerves in my neck.

      nice to see the details after 35 years of dealing with it.

  14. “You can reach up and eat clouds.” – Sam Seder on the propaganda corporations try to feed the middle class about how everybody does well when the corporations do well. I think you nailed it, Sam.

  15. Sunshine Jim says:

    heh!

    every time Sam tells this story he cracks me up!

    Stars! Opium! Adventure!

  16. Blank Squirrel says:

    Would it be possible to slightly resize that chart so it doesn’t overlap with other page elements? i would have fewer reservations linking to this page if that were the case.

  17. Joseph says:

    In the chart above, 2nd to last. When found guilty, corporations are given tax subsidy? To amortize punitive damages awarded by verdict (losses) against their taxes owed, 10 years forward? An incentive in the law to violate the law?

    My premise would be gain or loss by commission of a crime is not a legitimate business expense. For purposes of taxation the net effect of zero minus zero is zero. The gain or asset was fictional and criminal. You don’t have a loss based on an asset to which you have no ownership. Theft does not shift rights of ownership to the thief. That is part of the basic legal elements of a purchase covered in business law.

    Any “loss” would be fictional and evidence of further ongoing criminality. It has no place on a balance sheet or income statement. If it’s there, it is just evidence of an additional crime.

    Seizure or recovery of stolen property is not a bookable ‘loss’ for taxation calculations. I recall when Lieberman gutted FASB autonomy long ago. I am not sure when this became legal. Perhaps I blocked this out.

    Reminds me of the old joke about the child asking the court for relief due to being an orphan.

    I would have restored SEC and FASB budgets by Presidential Order day one for national security.

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