For the first time in this unfolding financial crisis, I felt personally scared by the news. Not about my money, but about the potential for catastrophe. The Federal Reserve’s lightning rescue of AIG has the smell of systemic fear. The house of global finance is on fire and everyone is running for the exits, no sure way to turn them around. What’s next? The question itself is ominous, because there are no good answers.

The US central bank and other nations acted with speed, and good that they did–an emergency loan of $85 billion to prop up the failing insurance giant, plus another $75 billion in liquidity pumped into the banking system to calm nervous bankers worldwide who abruptly stopped lending. The international rate for overnight lending among banks has doubled, an expression of fear that describes the potential danger of a sudden freeze in lending, more or less everywhere. That would deliver a deep shock to real economic activity, not just in the United States but worldwide. This feels ominously parallel to the financial chaos that followed the crash of 1929 and led to global economic collapse.

Government is much better equipped this time with various safeguards to defend the […] Continue Reading…

America must move from the errant, retributive justice of 9/11 to a healing, restorative process of truth and reconciliation.

By Dennis Kucinich

9/11: The Truth Can Move Us Forward
September 11
Rep. Dennis J. Kucinich: We suffer not only from the loss of innocent life on 9/11, but because the attacks became the rationale for an unjust war. It’s time to face the truth.

Before the Congress adjourns, I will bring forth a new proposal for the establishment of a National Commission on Truth and Reconciliation, which will have the power to compel testimony and gather official documents to reveal to the American people not only the underlying deception which has divided us, but in that process of truth seeking set our nation on a path of reconciliation.

We suffer in our remembrance of 9/11, because of the terrible loss of innocent lives on that grim day. We also suffer because 9/11 was seized as an opportunity to run a political agenda, which has set America on a course of the destruction of another nation and the destruction of our own Constitution. And we have become less secure as a result of the warped practice of pursing peace through the exercise of pre-emptive military […] Continue Reading…

I need your help. Will you make a call?

Congress will consider energy legislation this week. Of course, the oil industry is pushing its “drill, drill” slogan with all its might — and some are hoping to use this for political advantage.

Meanwhile, tax credits for investments in solar and wind power have not been extended, and the growing renewables business that just made America the largest producer of wind power in the world, is on the verge of shutting down huge planned projects all over the country.

Billions in private investment, thousands of megawatts of new, clean energy, and more than 100,000 new jobs expected for 2009 will be lost.

We face a stark choice: subsidize old, dirty energy or invest in new, clean energy. This should be easy, but the influence of the oil lobby is deep — they’ve already spent more than $100 million in lobbying and advertising this year. Please call your members of Congress now and tell them to pass legislation that will Repower America.

Click here to find out how to call.

Washington is being diverted by all the political noise around “drill, drill” away from what really will make a difference — building a new, clean energy future. […] Continue Reading…