How 37 Financial Institutions Became Four (Graph)

This wonderful graph, which was originally shared by Lucas Rohenaz, has floated around the net for the last month or so.  It has been shared on Facebook alone nearly 13,000 times.  It shows how, since 1990, 37 financial institutions have merged into the four largest banks in the nation: Citigroup, JPMorgan Chase, Bank of America and Wells Fargo.

The most egregious of the Wall Street offenders is Bank of America, taking over twelve other banks in the course of the last two decades.  I worked for BofA in 1993, shortly after their buyout of Security Pacific Bank.  I was also employed by Chase Manhattan Bank (now JPMorgan Chase), shorly after their merger with Chemical bank in 1997.

Mergers are messy.  They are tumultuous for both customers and employees alike.  Upper management rarely gives a shit.  As long as stock value continues to rise, their yearly bonus increases as well.

Below is a clear example of why people are demonstrating in more than 80 cities nationwide.   These four corporations effectively control 40% of the nation's economy.  If that is not a motivation for action, I don't know what is.

Protest Sign Of The Day

Isn't it, though?

Glenn Beck: Wall Street Protesters 'Will Drag You Into The Streets And Kill Everybody'

Glenn Beck has a history of saying some pretty ridiculous things on his programs.  However, what he said yesterday on his radio program really takes the cake.

In the opening minutes of the broadcast, he made his disgust for the demonstrators crystal clear.  He started his show by mocking the "human microphone" method of communication used at the General Assembly at the protests.  As he started speaking, his in studio cohorts screamed his words into their microphones.  His producer then yelled, "We demand shorter sentences".

Watch Barack Obama's Vs. Herman Cain's Reaction To The Occupy Wall Street Movement

If my recollection is correct, today is the 16th or 17th day of Occupy Wall Street.  I tend to lose track of time.

Today, President Obama held a press conference to discuss the jobs bill that he is trying to get through Congress.  Eric Cantor has recently bragged that the bill will never be introduced on the House floor.  Essentially, today Obama told House Republicans to either come up with something better, or shut the hell up and pass the damn bill.  After making his statement, he took a number of questions from reporters.

A reporter asked the question, "Are you following the "Occupy Wall Street" movement, and how will you respond?".  This was his response:



In essence, he has seen reports of the protests on television, and people have a right to be upset.  People may disagree with me, but that's fair.  He's not exactly advocating for the dismantlement of the Federal Reserve, but he did sign into law the Dodd-Frank Wall Street Reform Act, which promises sweeping changes to be implemented in corporate America.  Due to stalling and roadblocks from the Republican side of the aisle, only 38 of the nearly 400 reforms have been implemented since the bill was signed last July.  All current Republican presidential candidates have publicly said that, if elected, they would repeal Dodd-Frank.

Yesterday, Herman Cain was asked by the Wall Street Journal about the movement.  First, he said that he believes that, while he can't prove it at this time, the Occupy Wall Street protests are secretly being orchestrated to divert attention from President Obama's failed economic policies?  He also said, and I'm quoting here:

"Don't blame the big banks.  Don't blame Wall Street.  If you don't have a job, and if you're not rich, blame yourself.  (Snip)  When I was growing up, I was blessed to have parents, that didn't teach me to be jealous of anybody, and didn't teach me to be envious of somebody.  It is not a person's fault if they succeeded.  It is a person's fault if they fail."

He does admit that the banks were responsible for the "economic crisis" that we went into in 2008.  But, according to Cain, "we're not in 2008, we're in 2011".  Obviously, he doesn't have the basic conceptual understanding of economics.  Just take a look at the clip.  The level of ignorance and apathy in the room can be cut with a knife.



So, in Herman Cain's mind, unemployment equates failure.  The millions of people that have been laid off since 2008 were failures in their life.  In September, the Department of Labor determined the unemployment rate at 9.1% nationally, meaning 14 million people in this country were without work.  Those are the people that are receiving unemployment benefits or are reporting to the government that they are still trying to find work.  They have been unemployed for less than 99 weeks.  Analysts believe that the real unemployment rate is along the lines of 18.09% in July of this year.  That's more than 28 million losers, according to Herman Cain.

This is why someone with no political experience has no business being in the White House.  Go back to making pizzas.

Deepak Chopra Meditates With The #occupywallstreet Protesters (Video)

I was sent a link to a moving YouTube video a few minutes ago.  I would like to share it with you.

Last night, Deepak Chopra visited the General Assembly of Occupy Wall Street.  The General Assembly is the nightly meeting that is held at Zuccotti Park every evening.  At the meeting, ideas are discussed.  Updates are given.  Plans are shared for the next day.  Bullhorns are prohibited within the park.  Instead, they use what is referred to as "the people's mic".  One person speaks, then everyone within earshot repeats what is said, so that the people in the back of the crowd can hear the speaker.  The occupiers have created a sanitation team, as well as a medic team, legal team and a team dedicated to establishing a web presence.  Each team sends representatives on their behalf to the General Assembly every night.

Chopra offered a short meditation to the group.  He said,

“I just want to do a two minute meditation, or even less. Put your hand on your heart and just ask yourself internally what kind of world do I want to live in? And listen. Do it now. And now ask yourself how can I make that happen? How can I make that happen from a place of love, compassion, joy and equanimity? Simple anger will only perpetuate what already is out there. It was created by greed and fear. We have to go beyond that, and come from a place of compassion, centered equanimity and creativity. Once again, ask yourself, how can I be the change that I want to see in the world? Thank you.”

Here is a video of Chopra speaking to the General Assembly:



While he quoted Gandhi ("Be the change you want to see in the world."), and at the same time, almost quoted Yoda ("Fear leads to anger.  Anger leads to hate.  Hate leads to suffering."), it was still a very thoughtful and moving moment with the demonstrators.  Think about this.  Deepak Chopra is one of the "one percenters".  In 2007, Forbes magazine estimated that he had earned approximately $22 million.  So, why was he there?  Simple.  He has a conscience.  He knows the difference between right and wrong.

He isn't the only celebrity to join the cause.  Susan Sarandon, Rosanne Barr and rapper Lupe Fiasco have all taken part of the protests in the last week.  Actor, and future Incredible Hulk, Mark Ruffalo, even spent last Saturday and Sunday camped out in the park with the protesters.

Deepak Chopra used the word equanimity a couple of times during his meditation last night.  I couldn't think of a more appropriate word.  It means "mental or emotional stability or composure, especially under tension or strain".  So far, this has been a peaceful protest.  The protesters need to maintain a level of composure, especially now, to ensure this has a peaceful outcome.  The NYPD is not seeking peace.  We have already witnessed their brutality toward unarmed, innocent men and women, exercising their First Amendment rights.  It's up to us to remain tranquil.

As the video mentioned, a walkout is planned with CUNY students tomorrow.  That, along with as many as 38,000 transit workers taking the streets to protest, could mean more than 100,000 people in the Wall Street area tomorrow afternoon.  Regardless, it will, by far, be the largest day of demonstrations to date for Occupy Wall Street.  It is unclear whether the transit system will be affected in New York City tomorrow.  Many are hoping that workers will protest during their off hours.  Others believe that workers across the city will be a "no show" at their jobs, crippling New York commuters.

Tomorrow should be an interesting news day.

News From Libya Becoming More Alarming By The Hour

This is likely to be a very long post, and for that, I apologize.  Again:

***WARNING:  This post contains some very graphic footage of people being injured and/or murdered.  In regards to the videos, some are NSFW and carry a viewer discretion advisory.  I will post a separate warning before any such video.***

The Libyan protests, or as it's known now, the Libyan uprising, began on February 15th, when 500-600 demonstrators gathered in front of police headquarters in the Eastern city of Benghazi to protest the arrest of a local human rights activist.  Police violently broke up the demonstration, injuring as many as 40 of the protesters. Protests continued in Benghazi on the 16th, and resulted in a number of vehicles being set afire, and local police using water cannons to disperse the crowds.  In other cities in the area, hundreds of people turned out to demonstrate and many clashed with police.  At the end of the day, six people were dead and three were injured.

Word quickly spread and the 17th was called a "Day of Revolt" by Libyans nationwide.  Most of the nation's attention was still focused on Benghazi.  The local government released 30 men from prison, armed them and paid them to kill protesters.  Helicopter gunships also started circling overhead and firing on the crowds below.  Authority was given, by the central government (Gadhafi), for police to fire live ammunition on the unarmed demonstrators.  Evidence shows that .50 caliber rounds were fired into the crowd that day.

This is a .50 caliber round.  It is roughly 5 inches long.  As you can imagine, it's not something that can be fired from a pistol.  Rather, it takes something like this:

These bullets are meant to take out armored vehicles, trucks, moving cars, helicopters, and targets behind structures.  They're not intended for humans.  When a .50 cal hits you directly, it isn't like being hit by any other bullet.  You don't have a bullet wound.  You're torn apart.  You're practically shredded by the force and the velocity of the projectile hitting you.  In other words, you'll be lucky if the coroner will be able to identify your body if you're hit with one.  The streets of Benghazi were littered with .50 cal casings on the night of the 17th.

On the 18th, thousands of protesters gathered in Benghazi.  Some of the local police and army decided to join the anti-Gadhafi demonstrators.  The rest left their posts and abandoned the city.  By the afternoon of the 19th, other cities in the East had joined in protesting against the central government.  That evening, The New York Times conservatively estimated there were approximately 200 casualties at the hands of police or the military in Benghazi alone.  Keep in mind, this was over the course of just 72 hours in a city with a population of 670,000.  In 18 days of protests, Egypt, with a population of 80 million, had slightly over 300 casualties.  At this point, the demonstrations had not gained momentum in the capital city of Tripoli.

The movement in Tripoli started off slowly.  This may be partly due to the fact that by now, the government had already had the internet shut off nationwide for the better part of two days.  It could also be because the government jams Al Jazeera's satellite signal, as well as the signal from Lebanese television from coming into the country.  The 20th started with small protests gathering around Tripoli in the morning, and then, later a night, a massive and seemingly spontaneous demonstration erupted in the heart of the city.  Demonstrators quickly overtook police.  

Gadhafi's son, Saif, appeared on state run television.  He gave what some called a "stream of consciousness" type of address to the Libyan people.  It lasted nearly 40 minutes and many times made little to no sense.  He blamed the protests on "drunks and drug users".  He warned that the unrest would "lead to civil war", and warned that there would be "rivers of blood" if the protests continued. 

The protests continued, and blood was spilled.  Monday saw some of the worst violence yet against the Libyan people.  Military aircraft fired live ammunition on the crowds gathered in Tripoli.  When that didn't deter the protesters to the government's satisfaction, they started dropping bombs.  That's right.  They started bombing their own people.  A resident in Tripoli described the scene, saying, 

"What we are witnessing today is unimaginable. Warplanes and helicopters are indiscriminately bombing one area after another. There are many, many dead," Adel Mohamed Saleh said.  Saleh, who called himself a political activist, said the bombings had initially targeted a funeral procession.  "Our people are dying. It is the policy of scorched earth." he said. "Every 20 minutes they are bombing."  Asked if the attacks were still happening he said: "It is continuing, it is continuing. Anyone who moves, even if they are in their car they will hit you." 

That afternoon, two air force pilots landed on a runway in Malta, requesting political asylum.  They were given orders to bomb the demonstrators, but couldn't in good conscience.  

They were regarded as "heroes" worldwide.  Meanwhile, in Tripoli, soldiers that refused to fire upon demonstrators were being killed, on the spot, by their commanding officer.  Reports coming out of the country state that they were either shot in the head or burned alive.  The following videos show the aftermath of what happened to members of the Libyan army on February 21st, that refused to murder their fellow unarmed countrymen.  I apologize if you may find the footage offensive, but it needs to be seen.  

***Warning.  The following videos include very graphic footage of murdered soldiers.  Viewer discretion is advised***

As outlying cities fell, more and more senior military officials called upon their counterparts to stop the massacre in Tripoli.  The country's top general and interior minister resigned, and called for the police and military to fight those standing with Gadhafi.   An assassination attempt was made on his life, but he escaped.  He has now been missing since the morning of the 22nd.  

While Gadhafi was losing his army, he started to buy their replacements.  He hired mercenaries, mostly from Chad, to kill the demonstrators that the military wouldn't.  They were paid 5,000 Dinars (Approx. $4,050.00 US) each and some were offered new cars.  In the last three days, pickup trucks full of armed foreign men have been speeding through the streets of Tripoli, firing automatic weapons at anyone that moved.

Libya's scenario is identical to that of Bahrain.  About 96% of the country is Sunni Muslim.  Gadhafi claims he is Muslim, but is not Sunni.  This is genocide.  There is no other way to explain it.  

Why hasn't the world taken a firmer stand against Gadhafi and his regime?  So far, the nations of the world have "condemned" his actions, but have gone no further than to basically say, "Hey, you shouldn't be doing that".  It's very frustrating to watch these things happen and not see anything being done about it.  Regrettably, nothing can be done about it at this time.  There are currently over 100,000 foreign citizens in Libya trying to be evacuated as we speak.  Turkey alone has 30,000 people that they are trying to get out of the country by Friday.  The US has around 3,000 people that were to be on a ferry for Malta yesterday, but couldn't leave, due to bad weather.

So far, the police and military have only been firing on their own people.  Foreigners have not been targeted.  The nations of the world are afraid that if sanctions are put in place, or if threats are made against Gadhafi, he will turn on foreign citizens.  If that happens, nations will have no choice but to protect their own people with force.  There will be a multi-national war in the Middle East.  That is the last thing that anyone wants.  So, for the moment, we wait.

The last 24 hours have been quite newsworthy.  First, Gadhafi went on national television, stating that, if he had to, he would have his loyalists go from "house to house" to kill protesters.  In Benghazi yesterday, two ghastly discoveries were made.  On the 22nd, locals found an underground room, where approximately 1500 area protesters had been buried alive since the 15th.  They were rounded up by Benghazi police and taken to the underground location, locked in the room, without food or water, and buried.  They were left there to die.

The next day, demonstrators found an underground prison with hundreds of political prisoners.  No one in the city knew of it's existence.  Some of the men there had been living below ground for years.  They had either been arrested or had just mysteriously disappeared.  As the hours go by, the people of Libya are becoming more and more familiar with how sick of a mind they are dealing with.

Rumors spread across Libya today that Gadhafi had been shot.  Independent news sources have not been able to confirm the news, but oil prices dropped from $120 to $97 a barrel based solely on the rumor this afternoon.  What is expected, though, is that if Gadhafi is still alive, he will make a blood soaked final stand in Tripoli in the coming days.  Tripoli is the only major city yet to fall.  The people will, in time, have their country back.  But at what cost?

The Italian Minister of Foreign Affairs estimated the body count at over 1,000.  Yesterday, however, the ICC (International Criminal Court) estimated the casualties at 10,000, with 50,000 wounded.  And it only looks like it's going to get worse before it gets better.  

I don't believe in god, but in a time like this, I have to say, "May Allah be with the people of Libya".