This will get approximately no attention today, but a federal court in Australia ruled that Standard and Poor’s, the credit rating agency, lied to investors when they awarded their highest, triple-A rating to derivative securities that lost their value within two years of purchase. The court ruled for a series of local councils in Australia, which accused S&P of botching the credit ratings and duping them into purchasing the securities.
|By: David Dayen Monday November 5, 2012 3:19 pm|
|By: Michelle Chen Saturday September 22, 2012 7:00 pm|
When Mitt Romney derides the legions of Americans who are supposedly utterly dependent on government and are ruining the country’s entrepreneurial spirit, we should remember that while this disdain for the poor may have a uniquely American inflection, the greed-is-good ethos flourishes in other rich nations. In the land down under, we see a mirror image of the political establishment’s frontal assault on poor communities, with welfare policy acting as a cudgel for blaming the epidemic of poverty on the poor themselves.
|By: Kevin Gosztola Friday August 17, 2012 10:28 am|
How do supporters of WikiLeaks founder and editor-in-chief Julian Assange make the leap that he is more likely to be extradited to the United States from Sweden than the United Kingdom? That is a common question and, certainly, a key question for anyone who remains skeptical of whether Assange should have been granted asylum by Ecuador.
|By: SouthernDragon Friday August 3, 2012 4:45 am|
A variety of links to articles/interviews/speeches on current issues that may be of interest.
|By: Jane Hamsher Friday April 27, 2012 11:50 am|
The White House wants to fast track the Trans-Pacific Partnership (TPP) “free trade” agreement with Australia, Brunei, Chile, Malaysia, New Zealand, Peru, Singapore, and Vietnam. Japan is waiting in the wings, Canada and Mexico want in, Taiwan has announced its intention to meet membership requirements and China says it will “earnestly study” whether to seek entry into the agreement.
Basically, the TPP is NAFTA on steroids.
|By: Teddy Partridge Friday November 25, 2011 5:20 pm|
Leave it to the Aussies to come up with the ad that LGBT activists have clamored for throughout all our fights with the fundie-bangelicals over our basic human right to marriage equality. Every time our own USA organizations launch a marriage equality advertising campaign, their ads focus on straight allies, supportive relatives of LGBT couples, or members of the political class: hardly ever do we see affected couples.
|By: David Dayen Thursday November 17, 2011 7:07 am|
This needless drive to place little army men around the globe like it’s a Risk board, regardless of the expense, only serves a purpose for the little megalomaniacs in the Pentagon who think we have to stretch our military might everywhere. For the rest of us, it just flushes our tax dollars down the drain.
|By: Gregg Levine Saturday September 24, 2011 11:30 am|
In an age where so many economies are desperately trying not to lose any more ground in the present, could it be that the ones more responsive to their rank-and-file electorates are the ones in the best position to (to borrow a quickly forgotten phrase) win the future?
|By: Kevin Gosztola Wednesday August 31, 2011 5:42 pm|
The US has no problem with pressuring, even meddling in a country’s affairs, if only to get the outcome it desires—whatever will be best for US interests. Yet, it knows that it must consider all the variables, stick to talking points and not apply too much or too little pressure in order to achieve success in getting whatever the US wants from a country’s government.
|By: Kevin Gosztola Tuesday August 30, 2011 5:12 pm|
There’s been a sudden explosion of interest in Wikileaks cables down under, after every single one of the US diplomatic cables on Australia was suddenly released online to the public this week. While hardened Aussie journalists insist there are no major “bombshells,” plenty of intriguing new stories are now exploding onto the media landscape. Overall, the US cables reveal a sovereign nation absurdly subservient to US foreign policy, with Australian ministers queuing to discuss confidential party deliberations with their friends in the US embassy.