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On This Day In History February 22

Cross posted from The Stars Hollow Gazette

This is your morning Open Thread. Pour your favorite beverage and review the past and comment on the future.

Find the past “On This Day in History” here.

February 22 is the 53rd day of the year in the Gregorian calendar. There are 312 days remaining until the end of the year (313 in leap years).

On this day in 1980, the U.S. Olympic hockey team makes “miracle on ice”.

In one of the most dramatic upsets in Olympic history, the underdog U.S. hockey team, made up of college players, defeats the four-time defending gold-medal winning Soviet team at the XIII Olympic Winter Games in Lake Placid, New York. The Soviet squad, previously regarded as the finest in the world, fell to the youthful American team 4-3 before a frenzied crowd of 10,000 spectators.

The United States did not win the gold medal upon defeating the USSR. In 1980 the medal round was a round-robin, not a single elimination format as it is today. Under Olympic rules at the time, the group game with Sweden was counted along with the medal round games versus the Soviet Union and Finland so it was mathematically possible for the United States to finish anywhere from first to fourth.

Needing to win to secure the gold medal, Team USA came back from a 2-1 third period deficit to defeat Finland 4-2. According to Mike Eruzione, coming into the dressing room in the second intermission, Brooks turned to his players, looked at them and said, “If you lose this game, you’ll take it to your graves.” He then paused, took a few steps, turned again, said, “Your fucking graves,” and walked out.

At the time, the players ascended a podium to receive their medals and then lined up on the ice for the playing of the national anthem, as the podium was only meant to accommodate one person. Only the team captains remained on the podium for the duration. After the completion of the anthem, Eruzione motioned for his teammates to join him on the podium. Today, the podiums are large enough to accommodate all of the players.

The victory bolstered many American citizens’ feelings of national pride, which had been severely strained during the turbulent 1970s. The match against the Soviets popularized the “U-S-A! U-S-A!” chant, which has been used by American supporters at many international sports competitions since 1980.

Health and Fitness News

Welcome to the Health and Fitness News, a weekly diary which is cross-posted from The Stars Hollow Gazette. It is open for discussion about health related issues including diet, exercise, health and health care issues, as well as, tips on what you can do when there is a medical emergency. Also an opportunity to share and exchange your favorite healthy recipes.

Questions are encouraged and I will answer to the best of my ability. If I can’t, I will try to steer you in the right direction. Naturally, I cannot give individual medical advice for personal health issues. I can give you information about medical conditions and the current treatments available.

You can now find past Health and Fitness News diaries here and on the right hand side of the Front Page.

The Fruits of Winter

Blood Orange Compote photo 11recipehealth-articleLarge_zpsa3b46b7b.jpg

When I lived in Europe I got hooked on blood oranges, small oranges with dark ruby red pulp and mottled orange-red skins. Their flavor is deep and multidimensional, with nuances of berries and cherries. And like berries, cherries and other highly nutritious dark red, blue and purple fruits and vegetables, blood oranges have high levels of antioxidant-rich anthocyanins.

The same farmer I bought blood oranges from at my farmers’ market was selling over-ripe fuyu persimmons at a bargain price. I bought a few pounds for pureé, some of which I used for a sweet persimmon spice bread and some of which I froze. Persimmons are another fruit rich in phytonutrients like lutein and lycopene, zeaxanthin and cryptoxanthi, which are all reported to be rich in antioxidants.

~Martha Rose Shulman~

Blood Orange Compote

A delicious dessert, but it is also great at breakfast.

Lemon and Blood Orange Gelée Parfaits

A beautiful, layered gelatin dessert.

Pear Vanilla Sorbet

For maximum flavor, wait until the pears are nice and ripe before making this sorbet

Tangerine Sorbet

A light, refreshing sorbet that can be made with a number of different fruits.

Persimmon Spice Bread

A dense, sweet bread that can be home to over-ripe persimmons.

The Media’s Hubris In Selling the Iraq War

Cross posted from The Stars Hollow Gazette

The enraging thing is that it was all transparent bullshit at the time. They gaslighted the nation. ~Atrios~

On March 19, it will be ten years since President George W. Bush launched the Iraq War that was based wholly on lies at the cost of thousands of lives to the United States and Iraqis and well over three trillion dollars. The overthrow of Sadaam Hussein opened the “can of worms” of decades long animosity of the religious factions in the region that will contribute to the instability of the region for the unforeseeable future, not to mention, the increased animosity towards the United States that breeds more terrorists determines to seek revenge.

Based on the book Hubris: The Inside Story of Spin, Scandal, and the Selling of the Iraq War by David Corn and Michael Isikoff with updates of recently declassified documents, the hour long documentary, “Hubris: Selling of the Iraq War” narrated by MSNBC host Rachel Maddow, is an accurate accounting of the web of lies and bad actors who entangled the US an illegal war, except, there is no mention of the MSNBC’s own complicity in selling the lie. David Swanson, author and one of the co-founders of War Is A Crime.org, notes that hubris isn’t the half of it:

As our government was making a fraudulent case to attack Iraq in 2002-2003, the MSNBC television network was doing everything it could to help, including booting Phil Donahue and Jeff Cohen off the air.  The Donahue Show was deemed likely to be insufficiently war-boosting and was thus removed 10 years ago next week, and 10 days after the largest antiwar (or anything else) demonstrations in the history of the world, as a preemptive strike against the voices of honest peaceful people.

From there, MSNBC proceeded to support the war with mild critiques around the edges, and to white-out the idea of impeachment or accountability.

But now MSNBC has seen its way clear to airing a documentary about the fraudulent case it assisted in, a documentary titled Hubris.  This short film (which aired between 9 and 10 p.m. ET Monday night, but with roughly half of those minutes occupied by commercials) pointed out the role of the New York Times in defrauding the public, but not MSNBC’s role. [..]

Despite this omission and the glossing over of any accountability for the lies then, and now about Iran, Mr. Swanson goes on to praise the all too short film (just short of 44 minutes minus commercials). He praises MSNBC and Ms. Maddow in hopes that American awareness about the lies that destroyed Iraq in hopes that it will stop an invasion of Iran.

At FDL‘s The Dissenter, Kevin Gosztola also reports the traditional MSM’s complicity and the refusal of Congress to hold anyone in the Bush – Cheney administration accountable, as well as, the MSM’s cooperation with the Obama administration to withhold information:

Eighty-two Democrats in the House of Representatives voted for the Iraq War resolution. Twenty-nine Democrats in the Senate, including Hillary Clinton and John Kerry, voted for the resolution. Jones has developed into an anti-war voice in Congress, but isn’t it remarkable that he is the one who gives the mea culpa in the documentary? Where is the Senate Democrat or House Democrat atoning for his or her role in making war possible?

Given the criminality of what the Bush administration did, it is shameful that none of the players involved have suffered consequences and David Corn makes this point, “A lot of people who purposely used extreme rhetoric to gin up populous support for the war, there have been no consequences for them.” [..]

Ten years on, it is appropriate to recount what happened, to remind Americans that what happened was wrong and there are criminals from the Bush administration who should have been held accountable in some way. Unfortunately, President Barack Obama and Congress, led by Democrats Nancy Pelosi and Harry Reid, shied away from accountability.

Between now and March 19, the tenth anniversary of the invasion, there should be reflection because it could happen again; maybe not a full-scale occupation but another military operation, perhaps, one involving drones. The media has not questioned Obama’s decision to wage conflict in Pakistan, Somalia or Yemen. Both the Washington Post and New York Times agreed to comply with requests from the Obama administration to not report on a drone base in Saudi Arabia. Now, there’s talk of Iran and “round magnets.” There is no US war or national security operation the US media has not collectively been willing to sell and it would not be surprising to see a presidential administration successfully manipulate the media again.

Hubris : Selling the Iraq War

There is no statute of limitations for war crimes.  

Bill Maher for Pope: He Blows His Own Smoke

Adapted from The Rant of the Week at The Stars Hollow Gazette

Hey, Catholics, if the Pope can quit so can you.

Pope Immunity: Vatican Will Protect Benedict From Sexual Abuse Prosecution

(Reuters) – Pope Benedict’s decision to live in the Vatican after he resigns will provide him with security and privacy. It will also offer legal protection from any attempt to prosecute him in connection with sexual abuse cases around the world, Church sources and legal experts say.

“His continued presence in the Vatican is necessary, otherwise he might be defenseless. He wouldn’t have his immunity, his prerogatives, his security, if he is anywhere else,” said one Vatican official, speaking on condition of anonymity.

“It is absolutely necessary” that he stays in the Vatican, said the source, adding that Benedict should have a “dignified existence” in his remaining years.

Pope Benedict retired after inquiry into ‘Vatican gay officials’, says paper

Pope’s staff decline to confirm or deny La Repubblica claims linking ‘Vatileaks’ affair and discovery of ‘blackmailed gay clergy’

A potentially explosive report has linked the resignation of Pope Benedict XVI to the discovery of a network of gay prelates in the Vatican, some of whom – the report said – were being blackmailed by outsiders. [..]

The paper said the pope had taken the decision on 17 December that he was going to resign – the day he received a dossier compiled by three cardinals delegated to look into the so-called “Vatileaks” affair. [..]

According to La Repubblica, the dossier comprising “two volumes of almost 300 pages – bound in red” had been consigned to a safe in the papal apartments and would be delivered to the pope’s successor upon his election.

Today on The Stars Hollow Gazette

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On This Day In History February 21

Cross posted from The Stars Hollow Gazette

This is your morning Open Thread. Pour your favorite beverage and review the past and comment on the future.

Find the past “On This Day in History” here.

February 21 is the 52nd day of the year in the Gregorian calendar. There are 313 days remaining until the end of the year (314 in leap years).

On this day in 1965, Malcolm X, an African American nationalist and religious leader, is assassinated by rival Black Muslims while addressing his Organization of Afro-American Unity at the Audubon Ballroom in Washington Heights in New York City.

Assassination

Malcolm X began to speak to a meeting of the Organization of Afro-American Unity when a disturbance broke out in the crowd of 400. A man yelled, “Nigger! Get your hand outta my pocket!” As Malcolm X and his bodyguards moved to quiet the disturbance, a man rushed forward and shot him in the chest with a sawed-off shotgun. Two other men charged the stage and fired handguns, hitting him 16 times. Furious onlookers caught and beat one of the assassins as the others fled the ballroom. Malcolm X was pronounced dead at 3:30 p.m., shortly after he arrived at Columbia Presbyterian Hospital.

Talmadge Hayer, a Nation of Islam member also known as Thomas Hagan, was arrested on the scene. Eyewitnesses identified two more suspects, Norman 3X Butler and Thomas 15X Johnson, also members of the Nation. All three were charged in the case. At first Hayer denied involvement, but during the trial he confessed to having fired shots at Malcolm X. He testified that Butler and Johnson were not present and were not involved in the assassination, but he declined to name the men who had joined him in the shooting. All three men were convicted.

Butler, now known as Muhammad Abdul Aziz, was paroled in 1985. He became the head of the Nation of Islam’s Harlem mosque in New York in 1998. He continues to maintain his innocence. Johnson, now known as Khalil Islam, was released from prison in 1987. During his time in prison, he rejected the teachings of the Nation of Islam and converted to Sunni Islam. He, too, maintains his innocence. Hayer, now known as Mujahid Halim, was paroled in 2010.

Funeral

The number of mourners who came to the public viewing in Harlem’s Unity Funeral Home from February 23 through February 26 was estimated to be between 14,000 and 30,000. The funeral of Malcolm X was held on February 27 at the Faith Temple Church of God in Christ in Harlem. The Church was filled to capacity with more than 1,000 people. Loudspeakers were set up outside the Temple so the overflowing crowd could listen and a local television station broadcast the funeral live.

Among the civil rights leaders in attendance were John Lewis, Bayard Rustin, James Forman, James Farmer, Jesse Gray, and Andrew Young. Actor and activist Ossie Davis delivered the eulogy, describing Malcolm X as “our shining black prince”.

   There are those who will consider it their duty, as friends of the Negro people, to tell us to revile him, to flee, even from the presence of his memory, to save ourselves by writing him out of the history of our turbulent times. Many will ask what Harlem finds to honor in this stormy, controversial and bold young captain-and we will smile. Many will say turn away-away from this man, for he is not a man but a demon, a monster, a subverter and an enemy of the black man-and we will smile. They will say that he is of hate-a fanatic, a racist-who can only bring evil to the cause for which you struggle! And we will answer and say to them: Did you ever talk to Brother Malcolm? Did you ever touch him, or have him smile at you? Did you ever really listen to him? Did he ever do a mean thing? Was he ever himself associated with violence or any public disturbance? For if you did you would know him. And if you knew him you would know why we must honor him.

Malcolm X was buried at Ferncliff Cemetery in Hartsdale, New York. At the gravesite after the ceremony, friends took the shovels away from the waiting gravediggers and completed the burial themselves. Actor and activist Ruby Dee (wife of Ossie Davis) and Juanita Poitier (wife of Sidney Poitier) established the Committee of Concerned Mothers to raise funds to buy a house and pay educational expenses for Malcolm X’s family.

Austerity, Sequester & Simpson – Bowles, Oh My!

Cross posted from The Stars Hollow Gazette

The “comedy team” of former Sen. Alan Simpson (R-WY) and businessman Erskine Bowles trotted out their latest version of their unauthorized report from the “Cat Food Commission” that they co-chaired for President Barack Obama. Not surprisingly, the dynamic duo of austerity and cuts to the social safety net go even further with the 2.0 version of their solution for ending the mythical budget crisis calling for even greater cuts and less revenue all on the backs of those who have the least to contribute:

The corporate austerians released their ‘new’ Bowles-Simpson recommendations today (pdf). They claim that they are building upon their original plan, not replacing it. They framed their recommendations as the last two steps in a four step process. For Social Security followers, Step Three includes the chained CPI. And Step Four includes all of the previous cuts to Social Security which they recommended in their first plan.  Raising the retirement age starting in 2022 slowly to 69, cutting benefits through re-indexing and flattening  all future benefits for our recipients in 2050. [..]

The corporate austerians go for installing the chained cpi first. Why? It could be that they still think that most Americans do not realize that the chained cpi is a cut which keeps on cutting [..]

The language is a vague euphemism for cuts; code words to their rich buddies that the uploading of wealth will not be threatened with significant new taxes. No pesky new scrap-the-FICA cap income taxes which might be used to pay for under-funded social insurance programs.

Meanwhile, President Obama, seemingly ignoring his two side show buddies, called for tax reforms that would increase revenue and a more balanced approach to the looming sequestration that would impose draconian cuts to non-defense spending programs. Taking lessons from Bill Maher, the Speaker of the House, Rep. John Boehner (R-OH), is having none of that and has proposed “new rule“:

“The sequester will be in effect until there are cuts and reforms that put us on a path to balance the budget in the next 10 years.”

At Maddow Blog, Steve Benen points out that Mr. Boehner may not have thought this “new rule” through and it could pose some problems in his caucus:

One of the details that often goes overlooked is that the House Republican budget plan from the last Congress — the one that included all the spending cuts, entitlement reforms, and tax breaks the GOP are desperate to have — didn’t bring the federal budget into balance until 2040. That’s not a typo — under the House Republican plan, written by Paul Ryan, the United States would run deficits every year for nearly three decades, and then might reach a balanced budget 27 years from now if optimistic projections are met.

And that plan included spending cuts so severe, GOP candidates were afraid to talk about them out loud in public.

This year, however, thanks to a new “rule” embraced by Boehner and his cohorts, the new House Republican plan intends to balance the budget by 2023, instead of 2040. Why does that matter? Because trying to eliminate the entirety of the deficit in one decade instead of three necessarily means ridiculously drastic cuts.

A plan from the House Progressive Caucus that presented the unique idea that creating jobs would bring down the already shrinking deficit. But, as Greg Sargent of the Washington Post‘s “Plum Line“, notes it stands little chance of even being considered in the Republican held House:

Needless to say, this plan – the creation of the Congressional Progressive Caucus – has no chance whatsoever of passing Congress. Which is exactly the point: No plan that prioritizes job creation as the best means of reducing the deficit; no plan that cuts defense while determinedly avoiding any cuts that would hurt the poor and elderly; no plan that includes equivalent concessions by both sides – could ever have a prayer in today’s Washington. It’s yet another indication of how out of whack Washington’s priorities are.

Greg sums up the problem of the GOP’s approach in a nutshell:

So, Boehner says House Republicans are not only willing to let the sequester hit, but that the only acceptable replacement for it will be a plan that wipes away the deficit in 10 years – all without revenues. [..]

There’s simply no chance that House Republicans will produce such a budget by March 1st, which is the deadline for the sequester. If Boehner means any of this, he’s confirming that we’re getting the sequester, and it will remain in effect until it is replaced by a plan that is simply never, ever going to happen. Wiping out the deficit in 10 years with no new revenues would be at least as bad as the Ryan plan – probably worse – yet even that plan was loaded up with unspecified cuts and other big question marks. Republicans are never going to propose specific cuts that balance the budget in 10 years with no new revenues – ever. Boehner has, in effect, just taken ownership of the sequester.

No, Mr. Boehner has not thought this “boner” through.  

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On This Day In History February 20

Cross posted from The Stars Hollow Gazette

This is your morning Open Thread. Pour your favorite beverage and review the past and comment on the future.

Find the past “On This Day in History” here.

February 20 is the 51st day of the year in the Gregorian calendar. There are 314 days remaining until the end of the year (315 in leap years).

On this day in 1792, President George Washington signs legislation renewing the United States Post Office as a cabinet department led by the postmaster general, guaranteeing inexpensive delivery of all newspapers, stipulating the right to privacy and granting Congress the ability to expand postal service to new areas of the nation.

History

William Goddard, a Patriot printer frustrated that the royal postal service was unable to reliably deliver his Pennsylvania Chronicle to its readers or deliver critical news for the paper to Goddard, laid out a plan for the “Constitutional Post” before the Continental Congress on October 5, 1774. Congress waited to act on the plan until after the Battle of Lexington and Concord on April 19, 1775. Benjamin Franklin promoted Goddard’s plan and served as the first postmaster general under the Continental Congress beginning on July 26, 1775, nearly one year before the Congress declared independence from the British Crown. Franklin’s son-in-law, Richard Bache, took over the position on November 7, 1776, when Franklin became an American emissary to France.

Franklin had already made a significant contribution to the postal service in the colonies while serving as the postmaster of Philadelphia from 1737 and as joint postmaster general of the colonies from 1753 to 1774, when he was fired for opening and publishing Massachusetts Royal Governor Thomas Hutchinson‘s correspondence. While postmaster, Franklin streamlined postal delivery with properly surveyed and marked routes from Maine to Florida (the origins of Route 1), instituted overnight postal travel between the critical cities of New York and Philadelphia and created a standardized rate chart based upon weight and distance. [3]

Samuel Osgood held the postmaster general’s position in New York City from 1789, when the U.S. Constitution came into effect, until the government moved to Philadelphia in 1791. Timothy Pickering took over and, about a year later, the Postal Service Act gave his post greater legislative legitimacy and more effective organization. Pickering continued in the position until 1795, when he briefly served as secretary of war, before becoming the third U.S. secretary of state. The postmaster general’s position was considered a plum patronage post for political allies of the president until the Postal Service was transformed into a corporation run by a board of governors in 1971 following passage of the Postal Reorganization Act.

Contributions Are Killing Democracy

Cross posted from The Stars Hollow Gazette

In January of 2010, the US Supreme Court handed down its decision in Citizens United v. Federal Election Commission that held that the First Amendment prohibited the government from restricting independent political expenditures by corporations and unions. However, the case did not involve the federal ban on direct contributions from corporations or unions to candidate campaigns or political parties, which remain illegal in races for federal office.

Once again the US Supreme Court is about to weigh in on campaign finance agreeing to hear arguments in the McCutcheon v. Federal Election Commission which contends that limits on what individuals are allowed to give candidates and parties and PACs is an unconstitutional violation of the individual donor’s free speech rights.

Supreme Court Takes Campaign Finance Case, Will Rule On Contribution Limits

by Paul Blumenthal, The Huffington Post

The U.S. Court of Appeals already ruled in favor of keeping the biennial limits, which have been in place since 1971 and were upheld in the 1976 Buckley v. Valeo case. By accepting the case, the Supreme Court is stepping into the thick of another controversial campaign finance case just three years after ruling in Citizens United v. FEC that corporations and unions can spend freely on elections. [..]

Campaign finance reformers are already calling on the court to maintain the Buckley precedent and rule against the challenge in McCutcheon, for fear that any overturning of Buckley will eventually lead to future erosion of contribution limits and other campaign finance precedents meant to protect against corruption or the appearance of corruption. [..]

A ruling to overturn the biennial limits would not directly affect the amount an individual donor could give to a single candidate, but, thanks to the proliferation of joint fundraising committees, known as victory funds or committees, a candidate could potentially solicit a single contribution from one donor of up to — if not more than — $3,627,600.

In a recent segment of Moyers & Company, host Bill Moyers discussed how “big money” is destroying democracy with Dan Cantor, Executive Director of New York’s Working Families Party, and Jonathan Soros, co-founder of the Friends of Democracy super PAC and a Senior Fellow at the Roosevelt Institute.

“There’s so much money being spent, there’s so much cynicism about the system, but the evidence shows, in states that do have public financing systems, that candidates can run in those systems and win, and they do it by focusing on their constituents and small donors,” Soros tells Bill.

Soros and Cantor advocate for a New York State public financing system inspired by New York City’s publicly-funded program that makes it less financially prohibitive to run for city-wide office. “People should appreciate who gets to run for office when you have a system like this. Librarians run for office, ex-teachers run for office – not just people who have a rolodex of prospective donors,” Cantor says. “It’s good for the candidates and the voters alike.”

The Super PAC That Aims to End Super PACs

by Michael D. Shear, The New York Times

In the next four months, Mr. Soros and a small team at Friends of Democracy, the new Super PAC, are going to pick 10 to 15 House lawmakers whose records and public statements have not been supportive of what Mr. Soros calls a system of “citizen-led” elections.

In those districts, the new Super PAC will produce direct mail, telephone calls, Internet advertising and even a few television commercials aimed at making sure voters know the positions of the lawmaker

In addition, a separate sister organization will be picking a handful of campaign finance reform “heroes” who will receive some direct contributions to reward them for their positions.

If all goes according to plan, Mr. Soros is hoping to eventually demonstrate to politicians that there is a political cost for standing in the way of reform.

For sale to the highest bidder, the Unites States of America.

Still Bailing Out the Banks

Cross posted from The Stars Hollow Gazette

Nearly a year ago Rolling Stone contributing editor, Matt Taibbi wrote about how the Bank of America had defrauded everyone yet the US government kept bailing it out. They got a slap on the wrist and a paltry $$137 million fine for bilking needy schools and cities all the while plotting to rig global interest rates. In that same article from March 29th, 2012, Matt noted that BoA was still failing, yet they were still being bailed out. Why? The government’s excuse then and still is that they are too big to fail and too big too jail.

This was not fixed by Dodd-Frank and the promise to investigate the mortgage fraud and hold the banks accountable for bringing down the housing market and the economy along with it never materialize.

On Saturday in her New York Times article Gretchen Morgenson revealed that, we, the American taxpayer, are still bailing out Bank of America in secret deals :

That the New York Fed would shower favors on a big financial institution may not surprise. It has long shielded large banks from assertive regulation and increased capital requirements.

Still, last week’s details of the undisclosed settlement between the New York Fed and Bank of America are remarkable. Not only do the filings show the New York Fed helping to thwart another institution’s fraud case against the bank, they also reveal that the New York Fed agreed to give away what may be billions of dollars in potential legal claims.

Here’s the skinny: Late last Wednesday, the New York Fed said in a court filing that in July it had released Bank of America from all legal claims arising from losses in some mortgage-backed securities the Fed received when the government bailed out the American International Group in 2008. One surprise in the filing, which was part of a case brought by A.I.G., was that the New York Fed let Bank of America off the hook even as A.I.G. was seeking to recover $7 billion in losses on those very mortgage securities.

It gets better.

What did the New York Fed get from Bank of America in this settlement? Some $43 million, it seems, from a small dispute the New York Fed had with the bank on two of the mortgage securities. At the same time, and for no compensation, it released Bank of America from all other legal claims.

[…] To anyone interested in holding banks accountable for mortgage improprieties, the Fed’s actions are bewildering. If the Fed intended that Maiden Lane II own the right to sue Bank of America for fraud, why didn’t it pursue such a potentially rich claim on behalf of taxpayers? The Fed made $2.8 billion on the Maiden Lane II deal, but the recovery from Bank of America could have been much greater. Why did it instead release Bank of America from these liabilities and supply declarations that seem to support the bank in its case against A.I.G.?

The New York Fed would not discuss this matter, citing the litigation. But taxpayers, who might have benefited had the New York Fed brought fraud claims, deserve answers to these questions.

[…] A New York Fed spokesman said it supported the settlement because it would generate significant value without potentially high litigation costs.

Let’s recap: For zero compensation, the New York Fed released Bank of America from what may be sizable legal claims, knowing that A.I.G. was trying to recover on those claims.

If they’re too big to fail, to big to jail then these banks should be too big to exist.

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