Most people who have seen the work of Adam Curtis, say his BBC series The Century of the Self, or The Trap, or All Watched Over By Machines of Loving Grace, are struck by his ability to read how mass opinion has been shaped by media and the officialdom.
It would seem hard to convey much in the way of insight on the topic of Rupert Murdoch in a mere five minutes, yet Curtis pulls it off in this short film.
Read more...Maureen Tkacik is (now) a writer living in Washington, DC. You can follow her on Twitter at @moetkacik
I was at the Georgetown library the other day flipping through old bound volumes of the Ramparts magazine for reasons entirely unrelated when I came upon a brief story from a 1972 issue about “increasing speculation within the intelligence community that the CIA has struck up a direct relationship with police forces in major cities.” Said speculation had been triggered by a $30 million grant from the Ford Foundation to endow a new nonprofit formed to research “best practices” in policing or something along those lines. And Richard Helms’ former executive assistant had recently left the Agency after 17 years to join, and another bigger deal CIA guy was somehow also involved.
I jotted down some notes because the official description of the Ford Foundation project in question reminded me of the alleged purpose of the organization I’d read about hosting conference calls to discuss “best practices” for cracking down on Occupy Wall Street.
Read more...The New York Times (hat tip Mary B) took note of a seamy JP Morgan effort at brand burnishing:
In a gambit to promote its charitable work — and maybe polish its image, which has suffered since the financial collapse in 2008 — JPMorgan Chase is financing and sponsoring the “American Giving Awards,” which will be televised by NBC on Saturday night. The two-hour show, with Bob Costas as host, will profile recipients of Chase donations, will be book-ended by Chase commercials and will regularly remind viewers that the whole event is “presented by Chase.”…/
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Here are a few code words that you will often see in economic writing followed by their true meaning. The code word is a dog whistle. It acts like an emotional marker only for those attuned to the underlying ‘moral’ issues implied by the code. While you may agree with the logical framework behind the […]
Read more...Wow, I have to hand it to Obama’s spinmeisters. They’ve managed to find a way to resurrect his old hopium branding by calling it something completely different that still has many of the old associations.
And we have a twofer in Obama’s launch of his new branding as True Son of Teddy Roosevelt. Never mind that Teddy, unlike Obama, was accomplished in many walks of life and had meaningful political accomplishments (such as reforming the corrupt New York City police department) before becoming President at the tender age of 42. The second element of this finesse is that Obama is using the Rooseveltian imagery to claim he will pass legislation to get tough on Big Finance miscreants. That posture, is of course meant to underscore the idea that you just can’t get the perps with the present, weak set of laws.
Team Obama may have planned to wheel this new, improved image out later, with the timing accelerated by Judge Jed Rakoff’s decision against a proposed $285 million settlement between the SEC and Citigroup over a bum CDO in which Citi allegedly wielded considerable influence over its contents so it could bet against it.
Read more...It’s telling that the Fed was dumb enough to try upping the ante in its ongoing fight with Bloomberg News over the central bank’s refusal to disclose many critical details about its emergency lending programs during the crisis. Any poker player will tell you you don’t raise with a weak hand when the other side is pretty certain to call your bluff.
For those who have been too preoccupied with Europe to keep track of this wee contretemps, Bloomberg last week released a news story that received a great deal of follow through in the media and the blogosphere on the latest information it extracted from the Fed under duress.
Bernanke sent a letter that is pissy by the standards of Fed discourse to Tim Johnson, Richard Shelby, Spencer Bachus, and Barney Frank (the big dogs of banking in Congress). Given that Obama had to whip personally to get Bernanke reappointed, and that antipathy towards the central bank is a rare bipartisan cause, writing an aggrieved letter to powerful Congresscritters is not an obvious way to win friends and influence people.
And particularly a letter like this one. Get a load of how it begins:
Read more...Tom Adams, an attorney and former monoline executive, provided considerable input into this post.
There is nothing more useful to people in authority than when a writer with an established brand name does their propagandizing for them.
Harvard Law graduate and Pulitzer Prize winning author James B. Stewart penned a remarkable little piece in the New York Times over the weekend. Titled “Few Avenues for Justice in the Case Against Citi,” it contends that Judge Jed Rakoff’s ruling against a proposed $285 million SEC settlement with Citigroup over a $1 billion CDO (Class V Funding III) that delivered $700 million in losses to investors and $160 million in profits to Citi is misguided. Stewart argues, based on “some reporting,” that the SEC is unlikely to do better in the trial that Rakoff has forced on the agency by nixing the settlement.
We will look at the caliber of Stewart’s “reporting” in due course, since his article reads like dictation from the SEC’s head of enforcement Robert Khuzami (the SEC’s interests are aligned with Citi’s in wanting the settlement to go through). He either did not read or chose to ignore critical information in the underlying complaints, which the Rakoff ruling cites, and he also overlooked relevant cases.
Read more...The Gibraltar regulator confirms by email that James Richards company Baron Traders Limited is registered in Gibraltar.
Read more...A longstanding NC reader and lower Manhattan resident e-mailed me:
Read more...I was curious about the first couple of pictures in this set from the NY Times. How were they able to get pictures of the NYPD gathering by South Street Seaport, before the raid?
By Richard Smith
I posted this a few days ago, about the screechingly obvious fake Gibraltar company Validated Carbon Credits, a trading name of Baron Traders Ltd and its lying “CEO” James Richards. Two comments to the post have caught my eye:
It´s obvious your posting is not only slanderous but based on pure conjecture without any circumstantial evidence whatsoever. Why is it you don´t have a “contact us” link? Did you even bother contacting the company / individuals to try and establish some facts?
This was purportedly by a lady called Karen Johnson, who guilelessly provides an email address, bubblybosun@gmail.com, which, a quick Google reveals, is a handle used by none other than James Richards, the aforementioned lying CEO. Rather than dwell on that, or on the fact that “she” evidently doesn’t understand the meanings of the words “circumstantial evidence” and “slanderous”, I responded as follows:
Read more...Just to let you know I wasn’t kidding when I said I was going to start moving on site improvements, reader Sven has developed draft versions of a mobile website. These still need some refining, but I wanted to give you a look-see and the opportunity to comment.
YOU NEED TO LOAD THEM ON A MOBILE DEVICE. Loading them on your desktop might be entertaining, but we want comments from people using it in the intended manner.
Read more...The FT and a scammer respond to a Carbon Credits post at NC
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By Richard Smith
Having hooted mildly at FTAdviser yesterday, for their somewhat skimpy fact checking, I found my eye caught today by a similar miss from Reuters (in bold):
Read more...This is Naked Capitalism fundraising week. Over 620 donors have already invested in our efforts to shed light on the dark and seamy corners of finance. Join us and participate via our Tip Jar or read about why we’re doing this fundraiser and other ways to donate, such as by check or another credit card portal, on our kickoff post and one discussing our current target.
Read more...This is Naked Capitalism fundraising week. Over 560 donors have already invested in our efforts to shed light on the dark and seamy corners of finance. Join us and participate via our Tip Jar or read about why we’re doing this fundraiser and other ways to donate on our kickoff post and one discussing our current target.
By Douglas K. Smith, author of On Value and Values: Thinking Differently About We In An Age Of Me
As a subscriber and well wisher for the critical role that might be fulfilled by The New York Times, I’m always disappointed when Times’ journalists substitute personal agendas for accuracy. This was glaringly on view last week when three reporters butchered the chance to shed light on the Census Bureau’s new “supplemental poverty measure”.
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