Halliburton campaign donations spike

(Politico) – As Congress investigated its role in the doomed Deep Horizon oil rig, Halliburton donated $17,000 to candidates running for federal office, giving money to several lawmakers on committees that have launched inquiries into the massive spill.

The Texas-based oil giant’s political action committee made 14 contributions during the month of May, according to a federal campaign report filed Wednesday — 13 to Republicans and one to a Democrat. It was the busiest donation month for Halliburton’s PAC since September 2008.

Of the 10 current members of Congress who got money from Halliburton in May, seven are on committees with oversight of the oil spill and its aftermath.

Halliburton’s political contributions in May are the highest they’ve been since September 2009, when the PAC also gave $17,000 in donations. In fact, the last time the company gave more than $17,000 in one month was when it donated $25,000 during the heat of the presidential campaign in September 2008. Read entire article

Economy

(May 4) – Video: Greg Palast Tells How The IMF Set-Up Iceland & Greece on Alex Jones Tv – Part 1 HerePart 2

(CNNMoney) – More than 80% of school districts to cut jobs – Read More Here

(LATimes) – Plunge in state revenue dashes hopes of an easy budget fix

Legislators were hoping revenue would continue to exceed projections, forestalling deeper cuts and further tax hikes. But April’s total was 30% below what was expected, leaving them with few options. Read More Here

(MyBudget360) – Middle class getting pushed into poverty and working poor status – The cloaked recovery for the middle class. How 30 percent of the poor are unemployed

Over 6.5 million of the 15 million unemployed Americans have been out of work for 27 weeks or more. As a percent, this is the highest number of long-term unemployed we have had since the Great Depression. Read More Here

(LRC) – The Rich Continue To Use Government To Cut Out Their Competition – Read More Here

(Guardian) – Greek protesters storm the Acropolis

World markets plunge over fears that Greece’s economic crisis will spread to other countries despite austerity measures Read More Here

(Taragana) – Goldman Sachs pays $450K to regulators who say it violated stock short-selling rule

The case involving Goldman’s stock-trading business is unrelated to the SEC’s civil fraud charges filed against the firm last month over mortgage securities transactions it arranged. Goldman has denied the allegations in that case and said it will contest the charges in court Read More Here

(InfoClearingHouse) – Bernanke’s Biggest Bailout – Mike Whitney

The right-wing think-tank, the American Enterprise Institute, is helping the Federal Reserve to develop a strategy to transfer $1.25 trillion in toxic mortgage-backed securities (MBS) and non performing loans onto the public’s balance sheet. Although it’s unknown whether Fed chair Ben Bernanke will act on the AEI’s recommendations, it does show that the Fed’s Quantitative Easing program (QE)–which moved the bulk of garbage assets from the banks to the Fed’s balance sheet–poses long-term problems that will need to be addressed. Bernanke never intended to keep these assets any longer than necessary. Now he is actively exploring options for getting rid of them. Read More Here

(WSJ) – Congress Members Bet on Fall in Stocks

Some members of Congress made risky bets with their own money that U.S. stocks or bonds would fall during the financial crisis, a Wall Street Journal analysis of congressional disclosures shows. Read More Here

(AmericanThinker) – The Dollar’s Inevitable Demise

In its first midsession review, the White House Office of Management and Budget estimated that at the end of 2010, the national debt will breach the $14-trillion mark. This means that America’s sovereign debt will be soon equal to the annual output of our economy. In other words, our national debt will shortly reach 100 percent of GDP. History and experience show that most governments that assume such levels of debt are ultimately not able to contain them. In most cases, this kind of situation eventually leads to the disintegration of the country’s monetary regime and the collapse of its currency. Read More Here

(ForexCrunch) – Rumor: Spain will ask for 280 billion euros of aid money – Euro plunges

A rumor that Spain will ask for 280 billion euros of aid money in order to deal with its debt is running in the past few hours in trade rooms. This is what’s bringing down the Euro. Read More Here

(Bloomberg) – Video: Marc Faber on Bloomberg – China’s Economy May Crash in Next 12 Months

Marc Faber, publisher of the Gloom, Boom & Doom report, talks with Bloomberg’s Haslinda Amin about the outlook for China’s economy. Faber, speaking from Hong Kong, also discusses Greece’s debt crisis and the euro, the commodities market, and the implications of political unrest in Thailand for the nation’s economy and stock market. View Video Here

Surprise! Obama Was Top Recipient of BP Donations in 2008

Of course the $71,000 Obama received from BP is chump change compared to what he got from Goldman Sachs, so don’t expect him to be returning any of it. Nor should you expect any of his media lapdogs to mention his BP connection. Read More Here

(BusinessInsider) – Guess Who’s Paying For The Greece Bailout? That’s Right — YOU

The bailout outrages never stop.

Of the 110-billion Euro Greece bailout, 30-billion (approx $40 billion) will be paid for by the IMF. Read More Here

(PRNewsWire) – Bottoms Down: Hotel Profits Decline Record 35.4 Percent According to PKF Report

According to survey results in the recently released Trends® in the Hotel Industry report issued by PKF Hospitality Research (PKF-HR), the average U.S. hotel suffered a 35.4 decline in profits in 2009. This is the greatest annual fall-off in the bottom line since PKF-HR began tracking the industry in the 1930s. Read More Here

(RussiaToday) – Video: Keiser Report meets Schiff Report

This time Max Keiser and co-host, Stacy Herbert, look at the scandals of President Bill Clinton’s skepticism on Goldman charges; the TARP watchdog’s handcuffs for Timmy Geithner; and the continuing ‘ratings surveillance’ payments to credit rating agencies for defaulted CDOs too complicated to unwind. In the second half of the show, Max interviews Peter Schiff, who is running for the Republican nomination for US Senate for Connecticut, about debating Greenspan, revaluing yuan and regulating that which is already illegal. View Video Here

(Fox) – Video: Freedom Watch – Rising Awareness On Rising Debt

A new campaign to defeat the debt puts the issue on the forefront Continue reading

What’s Really Going On In Haiti? – Chuck Baldwin

People of goodwill everywhere are rightly sympathetic to the plight of hundreds of thousands of innocent Haitians in the aftermath of the terrible earthquake that rocked the island country. Private donations and volunteer efforts are pouring into Haiti from all over the globe–especially from the United States. This is a good thing, right? So, why am I troubled? Continue reading

The United States’ slide to corporatocracy

Following the US Supreme Court that removed restrictions on corporate donations to political campaigns, Daniel Patrick Welch looks forward to a day in the not-too-distant future where there will be congressmen representing corporations and where homelessness and disease will vanish because no one will count or diagnose the sick. Continue reading

MSM: House Finance Committee Members Took $62.9 Million From Industry Interests

(Huffington) – Members of the House Financial Services Committee, which is playing a critical role in restructuring the nation’s reeling financial, banking and housing sectors, have received nearly $63 million in campaign contributions from the industries they oversee. Continue reading