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Currently viewing entries by Corvin Russell.
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Bernie Farber is not gay
He is just in an open relationship with the truth
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Queers Come Out Against Israeli Apartheid
A new group Queers Against Israeli Apartheid, is marching in Toronto Pride this year - today they had the biggest contingent in the Dyke March, tomorrow they are expecting even more people.
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Most big north Atlantic banks are bust
That is the premise of this excellent post by Willem Buiter: Many (probably most, possibly all but a handful) high-profile, large border-crossing universal banks in the north Atlantic region are dead banks walking - zombie banks kept from formal insolvency only through past, present and anticipated future injections of public money. They have indeterminate but possibly large remaining stocks of toxic - hard or impossible to value - assets on their balance sheets which they cannot or will not come clean…
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Surprise! Ratings agencies are political
In the wake of Standard & Poor’s downgrade of the sovereign debt of Spain, Portugal, and Greece, mainstream financial commentators are openly decrying the agencies as unreliable and politically motivated, which the left has always known: Peter Schaffrik, rates strategist at Dresdner Kleinwort, agrees: “We think there is clearly something within the rating that you could call ‘political’ if you want. “We have seen this back in 2003 to 2005 when Germany was on the line for a downgrade and neither…
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Depressing possibilities
I’m back after a long hiatus. I’d started blogging here mainly about the brewing financial crisis - and I think some of my posts were fairly prescient. But to be honest, the financial crisis lost interest to me as time went on because it seemed mostly to be the playing out of factors that seemed clear as far back as September 2007. The political and media “mainstream”, and many Marxists, were slow to catch on to the depth of the crisis,…
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No one looks good in TTC strike
Writing from Toronto — this strike is a fiasco. If ATU Local 113 were not a crappy, right-wing, American business union, maybe it would think of something like this: a fare strike, in which drivers would refuse to collect fares. Passengers would love them, and if any of the drivers were to be arrested (it’s illegal), passengers would rally round. Of course, because it’s illegal, it would require a high degree of discipline and commitment. And this would mean a serious,…
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China attacks new left magazine
This is not news, but it’s news to me. The two editors of the left magazine Dushu, which has a readership of 100,000, were sacked last July as part of a crackdown on left dissent.
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Grace Lee Boggs: the Next American Revolution
“The revolution to be made in the United States,” Jimmy wrote, nearly 30 years before 9/11, “will be the first revolution in history to require the masses to make material sacrifices rather than to acquire more material things. We must give up many of the things which this country has enjoyed at the expense of damning over one third of the world into a state of underdevelopment, ignorance, disease and early death.” Until that takes place, “this country will not be…
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On self-regulation
“Unfortunately, self-regulation stands in relation to regulation the way self-importance stands in relation to importance and self-righteousness to righteousness. It just isn’t the same thing. “—Maverecon
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The unintended consequences of not regulating
I can’t stand how free market ideologues smugly talk about the “unintended consequences” of regulation. Everything has unintended consequences — including the conscious decision not to regulate. Get over it and stop with disingenuous, superior argumentation. This week’s Economist begins with a leader on why fixing the financial system may do more harm than good. In the course of this, they talk about how regulators “are paid less than those they oversee. They know less, they may be less able, they…
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