By Greg Palast
Sunday, March 23, 2008, Forest City, PA

Listen to the audio podcast here.

The kids were snoozing so I drove along the back roads skirting the Lackawanna River on a dawn hunt for black coffee and a newspaper.

I think even Norman Rockwell would have found this place too sticky sweet, too postcard: the weathered barns, the fallow fields perfectly snow-frosted; red, white and blue flags already up on the clapboard farmhouses and the white-washed church in the valley already full for Easter prayers.

At a gas station, I scored the paper and coffee, spilled some on the front page – the closest thing I’ve got to a religious ritual – then parked in front of a row of insanely pretty salt-box houses shining like mad teeth on the river bank.

One was missing (Show me more...)

The $200 billion bail-out for predator banks and Spitzer charges are intimately linked

By Greg Palast
Reporting for Air America Radio’s Clout

March 14th, 2008

[To hear the Podcast of Eliot's Mess read by Palast, click on the link below…]

While New York Governor Eliot Spitzer was paying an ‘escort’ $4,300 in a hotel room in Washington, just down the road, George Bush’s new Federal Reserve Board Chairman, Ben Bernanke, was secretly handing over $200 billion in a tryst with mortgage bank industry speculators.

Both acts were wanton, wicked and lewd. But there’s a BIG difference. The Governor was using his own checkbook. Bush’s man Bernanke was using ours.

This week, Bernanke’s Fed, for the first time in its history, loaned a selected coterie of banks one-fifth of a trillion dollars to guarantee these banks’ mortgage-backed junk bonds. The deluge of public loot was an eye-popping windfall to the very banking predators who have brought two million families to the brink of foreclosure.

Up until Wednesday, there was one single, lonely politician who stood in the way of this creepy little assignation at the bankers’ bordello: Eliot Spitzer.

Who are they kidding? Spitzer’s lynching and the bankers’ enriching are intimately tied.

How? Follow the money.

The press has swallowed Wall Street’s line that millions of US families are about to lose their homes because they bought homes they couldn’t afford or took loans too big for their wallets. Ba-LON-ey. That’s blaming the victim.

Here’s what happened. Since the Bush regime came to power, a new species of loan became the norm, the ‘sub-prime’ mortgage and its variants including loans with teeny “introductory” interest rates. From out of nowhere, a company called ‘Countrywide’ became America’s top mortgage lender, accounting for one in five home loans, a large chunk of these ‘sub-prime.’

Here’s how it worked: The Grinning Family, with US average household income, gets a $200,000 mortgage at 4% for two years. Their $955 monthly payment is 25% of their income. No problem. Their banker promises them a new mortgage, again at the cheap rate, in two years. But in two years, the promise ain’t worth a can of spam and the Grinnings are told to scram - because their house is now worth less than the mortgage. Now, the mortgage hits 9% or $1,609 plus fees to recover the “discount” they had for two years. Suddenly, payments equal 42% to 50% of pre-tax income. The Grinnings move into their Toyota.

Now, what kind of American is ‘sub-prime.’ Guess. No peeking. Here’s a hint: 73% of HIGH INCOME Black and Hispanic borrowers were given sub-prime loans versus 17% of similar-income Whites. Dark-skinned borrowers aren’t stupid – they had no choice. They were ‘steered’ as it’s (Show me more...)

 

 Greg Palast Reads "Eliot's Mess" [12:04m]: Play Now | Play in Popup | Download

 

 Greg Palast on Corporate Watch Radio [28:25m]: Play Now | Play in Popup | Download
 Elliot Spizter Gets Nailed Pt 1 [17:04m]: Download
 Elliot Spizter Gets Nailed Pt 2 [2:41m]: Download

Hear Greg Palast with Roseanne Barr on Air America’s Clout! Listen to the program (click at bottom of post) or sign up to receive our audio podcast here.
Also, on Left Jab Radio with Mark Walsh, Saturday 11am and Sunday 1pm on XM 167.

by Greg Palast
For TomPaine.com and OurFuture.org
Thursday, 28 February 2008
Nineteen goddamn years is enough. I’m sorry if you don’t like my language, but when I think about what they did to Paul Kompkoff, I’m in no mood to nicey-nice words.

Next month marks 19 years since the Exxon Valdez dumped its load of crude oil across the Prince William Sound, Alaska. A big gooey load of this crude spilled over the lands of the Chenega Natives. Paul Kompkoff was a seal-hunter for the village. That is, until Exxon’s ship killed the seal and poisoned the rest of Chenega’s food supply.

While cameras rolled, Exxon executives promised they’d compensate everyone. Today, before the US Supreme Court, the big oil company’s lawyers argued that they shouldn’t have to pay Paul or other fishermen the damages ordered by the courts.

They can’t pay Paul anyway. He’s dead.

That was part of Exxon’s plan. They told me that. In 1990 and 1991, I worked for the Chenega and Chugach Natives of Alaska on trying to get Exxon to pay up to save the remote villages of the Sound. Exxon’s response was, “We can hold out in court until you’re all dead.”

Nice guys. But, hell, they were right, weren’t they?

But Exxon didn’t do it alone. They had enablers. One was a failed oil driller named “Dubya.” Exxon was the second largest contributor to George W. Bush’s political career. Enron was firstr. They were a team, Exxon and Enron.

To protect their corporate backsides, Enron's Chairman Ken Lay, prior to his felony convictions, funded a group called Texans for Law Suit Reform. The idea was to prevent consumers, defrauded stockholders and devastated Natives from suing felonious corporations and their chiefs.

When Dubya went to Washington, Enron and Exxon got their golden pass in the appointment of Chief Justice John Roberts. On Wednesday, as the court heard Exxon’s latest stall, Roberts said, in defense of Exxon’s behavior in Alaska, “What more can a corporation do?”

The answer, Your Honor, is plenty.

For starters, Mr. Roberts, Exxon could have turned on the radar. What? On the night the Exxon (Show me more...)

 

 Rosanne and Palast on Clout Pt 1: Play Now | Play in Popup | Download

 

 Rosanne and Palast on Clout Pt 2: Play Now | Play in Popup | Download

Shannyn Moore of Air America Alaska interviews Palast on the Valdez Court Case- KUDO 1080am

 

 Palast on the Exxon Valdez and more... [38:00m]: Play Now | Play in Popup | Download

by Greg Palast
Wednesday, January 16, 2008

Bend over, pull out your wallet and kiss your Abe 'goodbye.' The Lincolns have got to go - and so do the Hamiltons and Jacksons.

Those bills in your billfold aren't yours anymore. The landlords of our currency - Citibank, the national treasury of China and the House of Saud - are foreclosing and evicting all Americans from the US economy.

It's mornings like this, when I wake up hung-over to photos of the King of Saudi Arabia festooning our President with gold necklaces, that I reluctantly remember that I am an economist; and one with some responsibility to explain what the hell Bush is doing kissing Abdullah's camel.

Let's begin by stating why Bush is not in Saudi Arabia. Bush ain't there to promote 'Democracy' nor peace in Palestine, nor even war in Iran. And, despite what some pinhead from CNN stated, he sure as hell didn't go to Riyadh to tell the Saudis to cut the price of oil.

What's really behind Bush's hajj to Riyadh is that America is in hock up to our knickers. The sub-prime mortgage market implosion, hitting a dozen banks with over $100 billion in losses, is just the tip of the debt-berg. (Show me more...)

 

 Palast on the Stacy Taylor Show- George of Arabia [44:04m]: Play Now | Play in Popup | Download

 

 Ed Asner Reading Armed Madhouse [5:05m]: Play Now | Play in Popup | Download

Bush: If it's our oil, why do Venezuelans get to vote on it?
GOP panicked that counting votes in Venezuela will spread to Florida
by Greg Palast
Monday December 3, 2007

The Family Bush can fix Florida. They can fix Ohio. But it's just driving them crazy that they can't fix the vote in Venezuela.

[Note: Watch the reports taken from the Palast BBC investigations in Venezuela in the newly released DVD, "The Assassination of Hugo Chavez."]

The Bush Administration and its press puppies - the same ones who couldn't get enough of the purple thumbs of voters of Iraq - are absolutely livid that this weekend the electorate of Venezuela had the opportunity to vote.

Typical was the mouth-breathing editorial by the San Francisco Chronicle, that the referendum could make Hugo Chavez, Venezuela's President, "a constitutional dictator for life." And no less a freedom fighter than Donald Rumsfeld, from the height of the Washington Post, said that by voting, Venezuela was "receding into dictatorship." Oh, my!

Given that Chavez' referendum was defeated at the ballot box, we now know that, as a dictator, Chavez is a flop. Of course, without meaning to gainsay Secretary Rumsfeld, maybe Chavez is not a dictator.

Let's get clear exactly what this vote was about. Firstly, it was a referendum to change the nation's constitution to end term limits for President.

Oh, horror! Imagine if we eliminated term limits in the US! We could end up stuck with a president - like Franklin Roosevelt. Worse, if Bill Clinton could have run again, we'd have missed out on the statesmanship of Junior Bush. While US media called Chavez a "tyrant" for suggesting an end to term limits, they somehow forgot to smear the tyrant tag on Mr. Clinton for suggesting the same for the America.

We were not told this weekend's referendum was a vote on term limits, rather, we were told by virtually every US news outlet that the referendum was to make Chavez, "President for Life." The "President for Life" canard was mis-reported by no less than The New York Times. (Show me more...)

 

 Fear of Chavez is Fear of Democracy [10:24m]: Play Now | Play in Popup | Download

Catch Greg Palast on Robert F. Kennedy's "Ring of Fire." Topic: The Rainforest versus Condi's oil company. Chevron, which named a super-tanker after the Secretary of State, has barfed crude oil all over the Amazon river's source in Ecuador, home of the Cofan Indians.

Environmental crusader Kennedy talks about his own investigations there - and Palast's latest report from the jungle for BBC Television. Watch the report then catch RFK and GP on Air America stations nationwide.

Plus: "The Palast Report" on Air America's "CLOUT!" with Richard Greene. This weekend: "George Bush is un-American. And that's why he lost the election. Twice."

(Show me more...)

 

 Ring of Fire- Palast and Ecuador 12-01-07: Play Now | Play in Popup | Download

Join Ed Asner on the picket lines and listen to him read from Palast's Armed Madhouse as discussed today on the Bree Walker show.
Listen to it here. Buy the 'Live from the Armed Madhouse CD' here.

 

 Ed Asner Reading Armed Madhouse [2:32m]: Play Now | Play in Popup | Download

Armed Madhouse, the new book by Greg Palast

Listen to the audiobook
THE CON

Kerry Won. Now Get Over It . . .

...because they're putting '08 in their pocket. Republicans just seem to have that winning spirit. They also have caging lists, felons of the future, rotting ballots, snuffed canaries, and a lock on the votes of Kissinger-Americans and the undead.

WARNING! There are cranks and kooks and crazies out there on the Internet who say that George Bush lost the 2004 election, like one titled, "Kerry Won" published on the TomPaine.com web site two days after the election. I wrote it.

On November 11, a week after TomPaine.com published it, I received an e-mail from The New York Times Washington Bureau. Hot on the investigation of the veracity of the vote, The Times reporter asked me pointed questions:

Question #1: Are you a "sore loser"?

Question #2: Are you a "conspiracy nut"? (Show me more...)

 

 Greg Palast reads Chapter 4 of Armed Madhouse: Play Now | Play in Popup | Download

 

 Larry David reads Chapter 4 of Armed Madhouse: Play Now | Play in Popup | Download

Greg Palast interviewed by Cynthia Black on ActionPoint KPHX Phoenix
Loan Sharks are back. They don't break legs anymore - they just take your home. Predatory lending is killing the market. And here's what you can do about it. Download the podcast

 

 You Are Chum: Play Now | Play in Popup | Download