Sen. John McCain plans at least one campaign event on his week-long congressional trip to Europe and the Middle East: a March 20 fundraiser in London. An invitation sent out by the campaign says the luncheon will be held at Spencer House, St. James's Place, "by kind permission of Lord Rothschild OM GBE and the Hon Nathaniel Rothschild." Tickets to the invitation-only event cost $1,000 to $2,300. Attire is listed as "lounge suits."
On the fifth anniversary of the U.S. invasion of Iraq, protesters set off a week of protest by blocking access to the Chevron refinery in Richmond, California. Protesters blamed Chevron for helping drive the U.S. to war for oil profits in Iraq.
When the feds do bail out the financial system, what will they do to ensure that they aren't also bailing out the people who got us into this mess? Bondholders must take a haircut. The stock options of executives who got rich playing heads I win tails you lose must be cancelled.
Banks all over the world bought these speculative objects through subsidiaries called "special conduits" that did not appear on the official balance sheets. The mortal sins of the economy are the speculative practices, not state interventions.