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Noam Chomsky on Financial Liberalization, Under Priced Risk, and its Effects on the Economy

Introduction
With the failure of markets to factor in external costs, the government has to regulate the economy in order to maintain fair practice as well as uphold the common interest. The Great Depression during the 30s resulted in massive reforms within the economy in order to stabilize it’s boom-bust cycles, and gave the state more control over financial markets (ex: separating people’s savings accounts from the stock market, or drafting a charter on the savings and loan associations).

The recent trend in the agenda of the White House has been deregulation. And with that, now we are seeing recession and insecurity …

Latest: Reliable Presidential Election Poll Results

What is the significance of a single Presidential election poll? It turns out, not much. Whether it be national polling firm or a major news network, following just one of them can be very misleading. The main reason for this is the fact that every poll is polled differently. So which one is the right one then? The answer, some of them.

What I mean by that is that for a true poll to be truly relevant, it has to be based off many different polls. …

The Political Lowdown on Acorn’s Voter Election Allegations

Acorn is a grassroots organization that works to register low income voters in hopes of alleviating the problem with disenfranchised voters in America. Acorn has once again come under fire for allegations of election fraud in multiple states. Last year Acorn was forced to pay $25,000 in fines to improve oversight in King County, Washington, where I happen to be a registered voter.

The fact of the matter is that the 7 people that were charged with voter fraud, in my county, worked for and represented Acorn. These people were motivated by money, not election fraud. This was a isolated case …

Naomi Klein Rings True on the Colbert Report

Last night, Thursday Oct 2, 2008, Naomi Klein appeared on the Colbert Report to talk about how the Bush administration uses times of crisis to capitalize on specific agendas. One good example is during hurricane Katrina, republican law makers used the destruction of most of the city’s public housing to force poor and low income families into houses that they could not afford.

The Republicans’ friends’ speculative pricing was of course over-inflated and they knew that they would get their money, whether the families were forced to foreclose or not. One of the many preventable reasons was in this current …

What Caused the Financial and Economic Crisis on Wall Street?

wall_street-225x168 What Caused the Financial and Economic Crisis on Wall Street?The Wall Street and economic crisis that the US is facing right now was predicted and expected to happen. You might ask “well then why was it not stopped ahead of time?”. And the answer I have to say to that is, because they started it.

The Gramm-Leach-Bliley Act

In 1999 the Gramm-Leach-Bliley Act was brought to congress and was shoved through legislation by republicans and democrats alike. In fact it was signed by Bill Clinton himself. What this act basically did was set the stage for our …