crony capitalism

Fukushima appears to be leaking highly radioactive wastewater into ocean

"Members of the Nuclear Regulation Authority voiced frustration at Tokyo Electric Power (TEPCO), which has failed to identify the source and the cause of spiking readings of radioactive materials in groundwater. 'It is strongly suspected that highly concentrated contaminated waste water has leaked to the ground and has spread to the sea,' the authority said. The giant utility that services Tokyo and its surrounding regions has said groundwater samples taken at the battered Fukushima Daiichi plant on Tuesday showed levels of possibly cancer-causing caesium-134 were more than 110 times higher than they were on Friday." Continue reading →

Continue ReadingFukushima appears to be leaking highly radioactive wastewater into ocean

Another Maryland Town To Refund Illegal Speed Camera Tickets

"Greenbelt, Maryland admitted Monday that 664 illegally issued speed camera tickets would be refunded because the for-profit vendor Brekford failed to meet the certification requirements set by state law. The same calibration problem was revealed in the city of Hagerstown in May. Brekford imported its speed cameras from Sweden, where the radar manufacturer Sensys self-certified the equipment after it came off the assembly line. Brekford and the cities that allow the company to operate their speed camera programs face additional legal jeopardy because the law specifies an independent calibration lab, not the camera manufacturer, must certify the devices." Continue reading →

Continue ReadingAnother Maryland Town To Refund Illegal Speed Camera Tickets

De-Postal Monopoly: Feinstein’s Sweetheart’s Deal

"Senator Diane Feinstein is married to the CEO of the largest commercial real estate services firm in the U.S. The U.S. Postal Service is going bust, because it can no longer compete. It has a monopoly, but it’s market is shrinking. The U.S.P.S. is selling off 41 post offices and 11 other properties. Always before, it hired multiple firms to do this. That made sense. Real estate is local. It has over 500 more properties scheduled for sale. This time, the U.S.P.S. awarded an exclusive contract to one firm to unload these post offices. Amazing as it may seem, Feinstein’s husband’s firm got the contract. It was just one of those things, just one of those crazy things." Continue reading →

Continue ReadingDe-Postal Monopoly: Feinstein’s Sweetheart’s Deal

Canada: City To Pay $200k For Photo Radar Propaganda Campaign

"City leaders in Winnipeg, Canada are afraid photo radar opponents are winning the debate over the effectiveness of automated enforcement. The city has put a $200,000 contract out for bid for any company that can come up with a three-year plan to boost the public's perception of speed cameras. Last year, the city generated $8,619,966 in revenue through 73,293 speed camera tickets and 8,331 red light camera tickets. Affiliated Computer Services (which is now Xerox) has a contract to run the automated ticketing program through the year 2020." Continue reading →

Continue ReadingCanada: City To Pay $200k For Photo Radar Propaganda Campaign

Illinois DOT Busted Over Red Light Camera Spreadsheet

"The Illinois Department of Transportation's attempt to keep information about its red light camera program secret by locking an Excel spreadsheet has backfired. The state's second-highest court last week ruled the move violated the state's freedom of information laws and ordered the agency pay an anti-camera activist $12,561 in compensation. IDOT claimed it locked the file 'to protect the integrity of the material and not to withhold information in any way,' but Fagel insisted the agency was obligated to provide the information in the format in which the agency normally keeps the records and that there is no statutory provision authorizing IDOT's action." Continue reading →

Continue ReadingIllinois DOT Busted Over Red Light Camera Spreadsheet

Peter Schiff on Bullion Banks, and the Hidden Trove of QE Money

"Perianne talks about the Fed and gold with Peter Schiff. Justine Underhill presents a chart to explain just exactly what the Fed has been doing vis a vis QE. Also, in the US, the big banks have had to submit 'living wills' to regulators -- basically, a blueprint for their wind-down should they become insolvent -- or, more insolvent, we guess. But the central bank of central banks, which is the Bank for International Settlements, just came out with its own plan for how to deal with too-big-to-fail. It's 'simple,' they say. Just let the creditors and depositors take losses -- a la Cyprus -- and force the creditors to recapitalize a new banking entity." Continue reading →

Continue ReadingPeter Schiff on Bullion Banks, and the Hidden Trove of QE Money

Washington’s Vampire Economy Thrives on Bloodshed

"The Wall Street Journal observes a new 'Gilded Age' for Washington, which has been 'a time of lush business profits fueled by government outsourcing and war.' Well-connected recent college graduates secure entry-level bureaucratic jobs that pay enough to support rentals that charge $3,000 a month. Military contractors like Northrup Gumman, corporate lobbying groups, and Wall Street firms bring in hordes of first-time home buyers, driving real estate values upward. This does much to explain the invincible indifference of the ruling class to our nation’s unfolding economic catastrophe." Continue reading →

Continue ReadingWashington’s Vampire Economy Thrives on Bloodshed

The Real Story of the Cyprus Debt Crisis (Part 1)

"In July 1974, in the face of an airborne invasion backed by the armour of NATO member Turkey, 200,000 Greek Cypriot citizens ran from their homes with only the clothes on their backs. The Greek Cypriot armour and infantry were no match for the second largest standing army in NATO, equal in size to the British and French forces combined. The Greek Cypriots were easily routed. The victors conducted summary executions of thousands of their prisoners and threw some of the bodies down wells to hide their crimes. Yet so began the housing boom in Cyprus." Continue reading →

Continue ReadingThe Real Story of the Cyprus Debt Crisis (Part 1)

Las Vegas Sands’ Sheldon Adelson ‘Morally Opposed’ to Online Betting

"Las Vegas Sands Corp. (LVS) Chairman and Chief Executive Officer Sheldon Adelson is 'morally opposed' to online gambling, calling it a 'toxin' that will rob the young and poor. Adelson, who controls the world’s biggest casino company by market value, also outlined his objections to online gambling in an opinion piece in Forbes yesterday. The Internet betting option is gaining momentum as U.S. states seek to tax a business forecast to generate billions of dollars. In February,New Jersey became the most-populous U.S. state to legalize online gambling, following Nevada and Delaware." Continue reading →

Continue ReadingLas Vegas Sands’ Sheldon Adelson ‘Morally Opposed’ to Online Betting

U.S. missile defense system test sputters out

"A test of the only U.S. defense against long-range ballistic missiles failed on Friday, the third consecutive failure involving the interceptor system managed by Boeing Co, the Defense Department said. The Pentagon said this week that the test would not affect its decision to bolster the U.S. missile defense system. Defense Secretary Chuck Hagel announced the move in March following threats by North Korea. Under that plan, the Pentagon will add 14 new anti-missile interceptors at a total cost of nearly $1 billion." Continue reading →

Continue ReadingU.S. missile defense system test sputters out