One of the traits common to all players involved in fostering and developing the system that caused the current economic downturn was the belief it would never fail. This system fed upon itself and the idea toxic debt could just be stacked up and circuitously looped, constantly repackaged as new better rated debt indefinitely, never seemed to strike any of the otherwise smart financially experts involved as a serious problem waiting to happen. People not only sold off debt which was doomed to fail as risk free, but then some of the smartest people in America traded in markets packed with that debt which with a little research would have shown was riddled with time bombs.
The Socialist Party USA National Convention is scheduled during the weekend of October 14-16, 2011; Los Angeles will be the host city. For more information, contact: Socialist Party of California, Convention Committee, P.O. Box 661483, Los Angeles, CA 90066. E-mail address: socialistpartyusala (at) gmail.com
The federal Third Circuit Court of Appeals in Philadelphia, in a stunning smack at the U.S. Supreme Court, has issued a ruling upholding its earlier decision backing a new sentencing hearing in the controversial case of Mumia Abu-Jamal, the convicted killer of Philadelphia Police Officer Daniel Faulkner.