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Van Jones: Bank Settlement: $25B Down, $675B to Go

Sun, 12 Feb 2012 00:00:00 -0800

readersupportednews.org - By Van Jones - Feb. 12 (News Analysis) - 'We must not forget the more than 14 million homeowners (one in five) whose homes are underwater, beneath a crushing total $700 billion in negative equity. We must not forget the more than 4 million families who have lost their homes.' Van Jones, Reader Supported News

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American Airlines' attempt to ditch pension riles feds, labor unions

Sat, 11 Feb 2012 00:00:00 -0800

Seattle Times - By Steven Mufson - Feb. 11 (News Report) - Now in bankruptcy proceedings, the airline wants to terminate its four pension plans for 130,000 workers and retirees and ask the government's Pension Benefit Guarantee Corp. to bail out its unfunded pension obligations to the tune of $9 billion.

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CPAC Panel: ‘Celebrate’ Citizens United Ruling

Sat, 11 Feb 2012 00:00:00 -0800

nationofchange.org - By Michael Beckel - Feb. 11 (News Report) - Anonymous political speech. Foreign money in U.S. elections. The proliferation of super PACs. How grave a threat do any of things pose to American democracy? Not much, according to a panel of conservative attorneys, who gathered Thursday at the Conservative Political Action Conference in Washington, D.C. The high-profile legal minds on the CPAC panel largely agreed that the changes to the campaign finance landscape are grounds for celebration.

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Mind-Blowing Charts From the Senate's Income Inequality Hearing

Fri, 10 Feb 2012 00:00:00 -0800

Mother Jones - By Josh Harkinson - Feb. 10 (News Report) - In another sign that Democrats have embraced income inequality as a cause célèbre, the Senate Budget Committee held a hearing on the subject today. The committee's ranking Republican, Jeff Sessions of Alabama, managed to look concerned during two hours of testimony about the kneecapping of the Middle Class—not that it should have been all that difficult. Here are some of the hearing's most striking charts ...

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Money and Morals

Fri, 10 Feb 2012 00:00:00 -0800

New York Times - By Paul Krugman - Feb. 10 (Opinion) - Conservatives have started telling us that the growing inequality is about a decline in morals. But it’s mainly about money.

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50-State, $25B Mortgage Settlement: Relief for Struggling Homeowners or Bailout for Big Banks?

Fri, 10 Feb 2012 00:00:00 -0800

Democracy Now - By Amy Goodman - Feb. 10 (News Analysis) - The U.S. Justice Department has unveiled a record mortgage settlement with the nation's five largest banks to resolve claims over faulty foreclosures and mortgage practices that have indebted and displaced homeowners and sunk the nation's economy. While the deal is being described as a $25 billion settlement, the banks will only have to pay out a total of $5 billion in cash between them. We speak to one of the settlement's most prominent critics, Yves Smith, a longtime financial analyst who runs the popular finance website, "Naked Capitalism." "The settlement, on the surface, does look like it's helping homeowners," Smith says. "But, in fact, the bigger part that most people don't recognize is the way it actually helps the banks with mortgages on their own books... The real problem is that this deal is just not going to give that much relief." [includes rush transcript]

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Komen Fundraiser Calls for CEO Nancy Brinker to Quit

Fri, 10 Feb 2012 00:00:00 -0800

readersupportednews.org - By Karen McVeigh - Feb. 10 (Opinion) - Ellis refers to her disappointment even as Brinker reversed the funding decision. "Brinker's words struck me as vague and hollow – no future commitment to Planned Parenthood and no specific apology to the low-income women who would have become the collateral damage from the defunding," Ellis wrote. "I also don't believe Brinker and her board when she claims that Komen's decision wasn't political."

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Taibbi: Mortgage Fraud Settlement is More Like a Bailout Than Justice

Fri, 10 Feb 2012 00:00:00 -0800

AlterNet - By Kristen Gwynne - Feb. 10 (News Analysis) - Tabbi says that as more of the banks' bad behavior is exposed, it will become obvious that they must shut down to pay for their crimes, because the reparations necessary would bleed them dry. This settlement, he says, is a "kewpie doll" for victims of banker greed, and won't "stem the tide or turn the tables for these people."

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League of Conservation Voters: George Allen Named to Dirty Dozen

Fri, 10 Feb 2012 00:00:00 -0800

action.lcv.org - Feb. 10 (Press Release) - Former Virginia Senator George Allen earned an abysmal 1% LCV lifetime score during his time in the Senate. Additionally, Allen has received nearly $500,000 from oil and gas interests. This is Allen's 3rd time on the Dirty Dozen, having been named to the list in 2000 and 2006.

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Survey Paints Portraits of Black Women In America

Thu, 09 Feb 2012 00:00:00 -0800

Washington Post - Feb. 09 (News) -

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Capitol Assets: Some legislators send millions to groups connected to their relatives - Washington Post

Wed, 08 Feb 2012 00:00:00 -0800

Washington Post - By Scott Higham, Kimberly Kindy, David S. Fallis - Feb. 08 (Investigative Report) - .. the practice has continued unabated, the Post found.

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Karl Rove ‘offended’ by Clint Eastwood’s Chrysler ad

Tue, 07 Feb 2012 00:00:00 -0800

Washington Post - By Rachel Weiner - Feb. 07 (News Report) - A Chrysler ad aired during the Super Bowl Sunday night has inspired ire among some Republicans and admiration among some Democrats — with both sides seeing a political message that boosts President Obama.

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EUROPE-DEVELOPMENT: The "Indignados" Still Have Wind in Their Sails

Mon, 06 Feb 2012 00:00:00 -0800

Inter Press Service - By Cleo Fatoorehchi - Feb. 06 (News) - EUROPE-DEVELOPMENT By Cléo Fatoorehchi AIX-EN-PROVENCE, Feb 6, 2012 (IPS) - Months of protest across the European Union, sparked by indignant youth demanding an end to the brand of free market capitalism that has blighted the continent with an unemployme

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I Will Not Be Pinkwashed: Komen's Race Is For Money, Not Cure

Sun, 05 Feb 2012 00:00:00 -0800

AlterNet - By Emily Michele - Feb. 05 (News Analysis) - I don’t know about you, but I would never expect directors of a charitable “non-profit” organization to make more than most doctors, lawyers, or even politicians. Their CEO and president, Hala G. Moddelmog, made $531,924, plus $26,683 in change. That's more than President Obama makes.

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Op-Ed Columnist: Things Are Not O.K.

Sun, 05 Feb 2012 00:00:00 -0800

New York Times - By Paul Krugman - Feb. 05 (Opinion) - The unemployment report was genuinely good, but there’s a downside: the calls to stop focusing on job creation.

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57% of Republicans Should Just Be Democrats

Sat, 04 Feb 2012 00:00:00 -0800

readersupportednews.org - By Andrew Belonsky - Feb. 04 (Poll) - 'The White House hopeful should really consult with his party's less fortunate members: according to a Pew Research poll, 57% of lower-income Republicans - families that make less than $30,000 annually - think the government does 'too little' for their ranks.' Andrew Belonsky, Death and Taxes

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The Big Lie: “Rich People Create Jobs”

Fri, 03 Feb 2012 00:00:00 -0800

Yahoo! News - By Nick Hanauer - Feb. 03 (Opinion) - One of the most commonly repeated theories about job-creation is that "rich people create jobs"--specifically, rich investors and entrepreneurs who build companies that eventually employ hundreds or thousands of Americans. This theory is often used to justify very low taxes on investors and high-income earners, under the theory that such folks have to be given an incentive to "create jobs." But the trouble with the theory, says Nick Hanauer, is that it's just wrong.

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Minority Dems raised more in 2011

Fri, 03 Feb 2012 00:00:00 -0800

The Politico - By Alex Isenstadt - Feb. 03 - Minority Dems raised more in 2011

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"Gasland" Director Josh Fox Fires Back at Republicans After His Unfair Arrest