Mercury Rising 鳯女

Politics, life, and other things that matter

Archive for January 23rd, 2008

Paging Richard Clarke…

Posted by Charles II on January 23, 2008

Tom Espiner, ZDNet:

CIA senior analyst Tom Donahue told a SANS Institute conference on Wednesday in New Orleans that the CIA had evidence of successful cyberattacks against critical national infrastructures outside the United States.

Read the rest of this entry »

Posted in computers and software, terrorism | 4 Comments »

Bush Lied, People Died

Posted by MEC on January 23, 2008


Oh, what a surprise:

A study by the Center for Public Integrity shows that George W. Bush and his minions “issued hundreds of false statements” in the leadup to the invasion of Iraq.

The study concluded that the statements “were part of an orchestrated campaign that effectively galvanized public opinion and, in the process, led the nation to war under decidedly false pretenses.”

The White House response?

White House spokesman Scott Stanzel did not comment on the merits of the study Tuesday night but reiterated the administration’s position that the world community viewed Iraq’s leader, Saddam Hussein, as a threat.

Mr. White House Spokesman, it’s not a valid defense to claim that you did the right thing because the person you lied to believed your lies about it. And just in case you didn’t notice, Even other people who agreed that Saddam was a bad man didn’t agree that invading Iraq was the right thing to do.

And one more thing, Mr. White House Spokesman:

“The actions taken in 2003 were based on the collective judgment of intelligence agencies around the world,” Stanzel said.

That’s another lie. Just ask Valerie Plame Wilson. Or the French. Or the Germans. Or anybody besides Tony Blair.

The purpose of the study wasn’t just to nail the Busheviks for their lies. It addresses the guilt of the so-called news media for acting as a megaphone for the Liar in Chief instead of doing their job:

The cumulative effect of these false statements — amplified by thousands of news stories and broadcasts — was massive, with the media coverage creating an almost impenetrable din for several critical months in the run-up to war,” the study concluded.

“Some journalists — indeed, even some entire news organizations — have since acknowledged that their coverage during those prewar months was far too deferential and uncritical. These mea culpas notwithstanding, much of the wall-to-wall media coverage provided additional, ‘independent’ validation of the Bush administration’s false statements about Iraq,” it said.

Posted in BushCo malfeasance, Iraq war, liars | 2 Comments »

Wall Street Whines, Fed Appeases

Posted by Phoenix Woman on January 23, 2008

Bonddad, yesterday morning, on the Fed’s decision to do a .75% rate cut:

Here’s what the Federal Reserve should have said: We are Wall Street’s bitch and will do exactly what the street wants us to do.

The problem is liquidity isn’t the issue — it’s counter-party risk. So long as lenders are

1.) Concerned about getting repaid on existing loans and

2.) Concerned that a party might not repay even a short-term loan

3.) In the middle of writedown hell.

Then loans aren’t going to get made. It’s that simple.

Also note the the effective Fed Funds rate is now negative. The yearly increase in inflation is 4.1% and the Fed Funds rate is now 3%, meaning the effective Federal Funds rate is in fact -1.1%. This is the situation that got us into this mess.

Bondy has more on this here. Say hello to the worldwide Bush Bear Market.

UPDATE:  In the comments, Charles and Techno remind us, in their own ways, that Bondy’s viewpoint is colored by his making a living off the bond market, where low interest rates are not a good thing.

Posted in big money, Bush, Bush Family Evil Empire, BushCo malfeasance, Busheviks, capitalism as cancer, economy | 4 Comments »

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