Wall Street Mushroom Cloud
Overshadows other negative advances
Wall Street Rap: From Rob Roberts.
Billion-eyed audience, the present predicament needs to come to a crashing halt. The bailout bill before the stymied and dazzled Congress doesn't address the foreclosure crisis and gives a blank check of almost a trillion to Hank Paulson who has nothing but a list of failures behind him: rescue AIG, save my buddies on Wall Street, on and on.
Do nothing, yes, some banks will fail. But they probably need to. That's why FDIC is there. Right? Excuse my financial ignorance, billion-eyed audience; however, the thing is, just because we can watch the digital numbers of the market plummet like some impossible elevator, and it's dramatic and causes teevee hosts to sound a little frightened, that's not the whole story.
The bond market is the big problem, and that's, as a trader acquaintance of mine described to me, is in the shitter. "It's a mess," he said. "It's going to take...a long time to clean it up." Which means there will be credit crunch; banks are shut up like hurt faces right now around the world. Ireland nationalized its banks almost overnight. Germany has nationalized three of its banks. This means money going to small businesses is on the verge of drying up.
Why you can't restructure the mortgages, and have that part of this enormous plan, I don't know. But just because the arrow points up one day, and down the next, doesn't mean we're OK. No. We're not. Another Great Depression is not likely -- we're a richer society now. But things are going to get tougher -- layoffs will increase, and where those people will get assistance, or for how long, that's going to strain the system even more.
So this cockamamie notion that we won't be able to go tour ATMs next week is a scare tactic. People getting kicked out of their houses is a major problem, because of the real estate taxes needed by municipalities. These go, the cities go, then there'll just be more panic. In fact, what we get for our lousy trillion dollars is a tourniquet on a wound that may staunch the trauma until the next President takes office -- the poor SOB, whoever that is.
And if things are as bad as Congress was saying, why take off for the Jewish holidays? That was an excuse to pull the plug on an overheated situation and to allow deals to get made away from staring news cameras.
Congressman Dennis Kucinich yesterday on Democracy Now!:
REP. DENNIS KUCINICH: This is a copy of the bill which will provide for a $700 billion bailout of Wall Street. It has provisions in it where it talks about helping homeowners, but when you read the fine print, you see it has language like “may” instead of “shall” and “encouraging” instead of “mandating” help for the millions of homeowners who are worried right now about whether they’re going to lose their home. There’s no help for them in this.
So what we have here is a rescue plan that essentially gives all the speculators a bailout and puts the bad debts in the custody of the government. The president of the Dallas Federal Reserve Bank has said that this plan could create a fiscal chasm, says that the problem isn’t tight monetary policy, it’s the reckless behavior of some of these investors who have now found themselves in a position where a government bailout is going to help reward their bad behavior.
AMY GOODMAN: Is it any better than when it was first introduced by the Treasury Secretary, by Henry Paulson?
REP. DENNIS KUCINICH: Well, you know, that implies that you would accept the underlying premise. I reject the underlying premise that we needed this bill. And as a matter of fact, that we’re putting this up before an adjournment in an election season shows that Congress is being put under extraordinary pressure to bail out Wall Street. We haven’t looked at any alternatives, Amy. This is—you know, it isn’t as though, if you had a liquidity crisis, that—you know, a real one—that you’d start to look at all the alternatives. We haven’t done that. We have a bill here, a bill of more than a hundred pages, that we haven’t had a single hearing on the bill, you know—on the concept, yes, on what Paulson and Bernanke asked for initially. But, you know, we need to have hearings on this. There’s 400 economists and three Nobel Prize-winning economists who have said, “Whoa, wait a minute! What are you doing? Why are you rushing this?” You know, this thing doesn’t smell right, frankly.
AMY GOODMAN: What do you think has to happen right now?
REP. DENNIS KUCINICH: Well, you know, Congress better get ready with a plan B. If this thing goes down, we need to find a way to help Wall Street pay for its own problems. You can do that with a 20—.25 percent stock transfer tax, cancellation of dividends. You know, make the shareholders and the investors have to pay for the funny business that was going on on Wall Street. Why make the taxpayers pay? You know, the very underlying idea of this needs to be challenged, and frankly, there hasn’t been enough of that going on.
Well, what we have is a transfer of wealth, actually. It’s a continuation of a transfer of wealth. This whole government has become nothing more than a big machine that transfers the wealth upwards with our tax policies, our energy policies, with this fiscal policies, with the war. All the wealth of the country goes from the pockets of the people into the hands of a few. This is a very dangerous moment. You know, it’s the biggest amount of injection of capital by the government in a single time since the New Deal. And frankly, there is no trickle down here. There’s just rewarding bad behavior.
Meanwhile, back at the ranch...
 While we weren't looking, really, Congress passed a massive bailout bill for the automotive industry just a few days ago -- to the tune of $35 billion to Detroit auto makers. The undertaking is bigger than the controversial 1980 Chrysler bailout, undergirds private companies, and further fuses private enterprise with the government. Worse, this isn't an "all the sudden" notion, but has been on the drawing board for 18 months.
This is an excerpt from that noted left-wing pinko newsweekly, US News & World Report:
"Exact details will come later, but the loans would probably amount to at least $5 billion for each of the Detroit 3, plus smaller amounts for suppliers. That would allow them to borrow money at interest rates as low as 4 percent—a steep discount compared with the double-digit rates they're paying now. Over several years, the automakers could save hundreds of millions in financing costs. Plus, they'll have five years before they have to start repaying the loans.
It might seem like a stealth rescue, but the plan has been in the works for at least 18 months. Approval for the loans was first included in last year's Energy Independence Act. Earlier this year, the automakers sought a first installment of loans totaling about $6 billion. But the nationwide credit crunch severely crimped their ability to borrow, and besides, next to bailouts like $200 billion for Fannie Mae and Freddie Mac, a mere $6 billion started to seem unduly modest. So Detroit raised the ante to $25 billion, the most allowed under current law."
You can read the whole pathetic thing here.
Papers? May I see your papers?
Attorney General Mukasey is behind legislation that makes "usual suspects" of us all.
From Wired:
"U.S. Attorney General Michael Mukasey on Saturday denied that the Bush administration -- in conjunction with the nation's telecommunication companies -- devised a "dragnet" electronic surveillance program that funneled Americans' communications to the National Security Agency without court warrants.
But the attorney general also insisted that defending his claim in court would harm national security.
"Specific information demonstrating that the alleged dragnet has not occurred cannot be disclosed on the public record without causing exceptional harm to national security," Mukasey wrote in a federal court filing in San Francisco. "However, because there was no such alleged content-dragnet, no provider participated in that alleged activity."
It was the first time Mukasey, as the nation's top law enforcement official, provided an emphatic and wholesale written courthouse denial of allegations contained in lawsuits accusing the Bush administration of widescale domestic spying in the years following the 2001 terror attacks. Keith Alexander, the NSA director, issued a similar courthouse denial in a 2007 court document (.pdf).
Despite Mukasey's denial, contained in a court filing (.pdf) made public Saturday, Mukasey asked a federal judge to grant immunity to the nation's telecommunications companies accused of assisting with the alleged surveillance dragnet. It is the first time the government has invoked the immunity legislation (.pdf) Congress approved July 9, which was signed by President Bush the next day."
Following this, further description from the American Civil Liberties Union, which, I know, members of the billion-eyed audience consider traitorous fifth columnists. Tough.
der new FBI guidelines proposed by Attorney General Michael Mukasey, all the FBI has to do to put anybody they want under prolonged physical surveillance is assert an “authorized purpose” such as detecting or preventing crime or protecting “national security."
These kinds of Bush/Cheney/Gonzales/Mukasey “just trust us” policies have been eroding our rights for the past eight years. After illegal spying and top-level torture policies coming from the White House, this is absurd. Enough is enough!
These new guidelines would allow the FBI to interview you, your friends and family under a false pretext. The FBI could recruit secret informants, and have them infiltrate peaceful protest groups.  And the FBI to could initiate investigations based on little more than race, ethnicity or religion.
The FBI could also search commercial databases for personal details about your life with no real reason.
And all of this would be allowed without an ounce of evidence that you or anyone else has done anything wrong.
These guidelines represent one step closer to a police state. And the worst part is that there is good reason to believe the FBI has been violating its internal guidelines all along.
Fortunately, there is something we can do about this before the new regulations are implemented.  
Demand that the Inspector General at the Department of Justice launch an investigation to determine if the FBI has been violating its own guidelines. The Inspector General’s office at the Department of Justice has proven to be an unbiased, internal watchdog that has consistently exposed wrongdoing. We need to urge the IG to do it again. Take action now at:
http://action.aclu.org/fbiguidelines
Shiver Me Timbers!
And then there's Sudanese pirates who've hijacked a freighter with 33 Russian tanks aboard. And the thing is, while extreme, this isn't unusual for those waters.
A U.S. destroyer and several other warships have been dispatched to deal with this. French commandos have learned one way to interrupt the pirates is to shoot out the outboard motors of their boats from helicopters.
This'll be a movie, before too long.
You see stuff like this, and start thinking about the availability of fissile material...and..well.
This Music Is In My Head
I've been hearing this tune, Serious And Purposeful String Mood by Peter Howard Morris on the public service advert "To Our Leaders" where it is used with arresting affect paired with dramatic images of alternative energy and the glum, intense faces of people who ostensibly are saying: get us off the foreign oil.
You can hear the whole song on the De Wolfe site, Track 8, here.
In my fantasy, this music is the featured music bed for the documentary "2008" that covers the span from January to January; we got floods, fires, famines, wars, this Presidential race with the potential for either an historic victory or a crippling loss, economic shudders, the Olympics, all this, and yes, pirates.
This doco would not be narrated but use news and found footage, YouTube, private material, and some damn fast and acute editing to take us through the rollercoaster ride this has been -- this is supposing that the species is going to survive past Janaury 2009.
I was listening to this music while watching the market plummet yesterday and it just seemed appropriate.
Hope all of you are well.
Labels: Attorney General Mukasey, bailout, Dennis Kucinich, Department of Justice, Peter Howard Morris, Rob Roberts, Serious and Purposeful String Mood, Sudanese pirates, Tim Robbins

















Andrew C. Boothby (Big Stone) was seen last season as Mr. Marmalade in the FTP production of Mr. Marmalade. Since moving to Richmond in 1991, he has appeared on many of the stages around town, including performances in The Constant Wife and the world premieres of Money Matters and Turn of the Screw at Barksdale, ‘Twas the Night Before Christmas (twice!) and A Christmas Carol (thrice!) at Theatre IV, and A Few Good Men and Lend Me a Tenor at Swift Creek Mill. Andrew is a graduate of Shenandoah College and Conservatory of Music in Winchester, Virginia, and is a member of the Screen Actors Guild. He is thrilled to be back at the Firehouse and to be a member of this cast. 
Larry Cook (Man, Lord of the Underworld) was last seen at the Firehouse as Larry in Mr. Marmalade. Prior to that, he was a part of the ensemble of the first Firehouse Theatre Cabaret. Some of Larry’s favorite roles include Bernard Kersal in The Constant Wife, Sir Evelyn Oakleigh in Anything Goes, Beverly Carleton in The Man Who Came To Dinner, Johnny Cantone in The 1940’s Radio Hour and Brad Majors in The Rocky Horror Show at the Barksdale Theatre. Audiences may also remember Larry as Bill in Lobby Hero at Theatre Gym, Harold Hill in The Music Man at Theatre IV, Sky Masterson in Guys and Dolls, Smudge in Forever Plaid, and Bill Snibson in Me and My Girl at Swift Creek Mill Theatre. Larry is so excited to “play” with some of his favorite people and to share the stage with his wife Lauren (Loud Stone) again. 
Joe Inscoe (Father) is celebrating his 30th year as a professional actor. During that span, he has performed roles in most of Richmond’s theaters, as well as some in D.C. and Los Angeles (two world premieres). He has also done many roles in television and film, including work with screen luminaries Jodie Foster, James Earl Jones, Andy Griffith, Gwyneth Paltrow, Christopher Plummer, Colin Farrell, Geena Davis, George C. Scott, Pierce Brosnan, Liam Neeson, James Woods, Sharon Stone, and Martin Lawrence – not to mention Lassie, Johnny Cochran, a Blue Man, two of the Desperate Housewives, and one of their on-screen sons. For two years he was a regular on Showtime’s critically acclaimed series, Lincs. Until now, he’s been able to say, “I’m not a teacher, but I’ve played some on TV.” This fall, however, he will actually be teaching acting at the University of Richmond as Artist in Residence. His last role for Firehouse was as a dreadfully abusive father in Curse of the Starving Class. Now, as Eurydice’s father, his parenting skills should appear considerably more refined. 
Jenny Hundley (Little Stone) Jenny is thrilled to be working with such a talented group of folks!  She received her BFA (1986) and MFA (2005) from Theatre VCU and has been performing, directing, and teaching locally for over 25 years. Jenny’s previous work at the Firehouse has been as a director for Anton in Show Business, Red, Hot and 10, and The Firehouse Cabaret (2004). Her favorite acting projects include The Kathy and Mo Show, Vagina Monologues, and Five Women Wearing the Same Dress. Love and hugs to Paul, Will, and Lydia for their constant support and to her father, Bill Jones, who is the best daddy in the whole wide world! Cheers to all the “Daddy’s Girls” – Eurydice isn’t the only one!  
Lauren Leinhaas-Cook (Loud Stone) made her Richmond theatre debut in 1982 as one of Major General Stanley’s daughters in Barksdale’s The Pirates of Penzance and has since appeared in over 30 productions at Barksdale Theatre, Theatre IV, Swift Creek Mill Theatre, Dogwood Dell and others. Favorite roles include Helen in And A Nightingale Sang…, Mother in Ragtime, Elieri in A Child’s Christmas in Wales, Vera in Stepping Out, The Witch in Into the Woods, Phyllis in Follies, Rosa Bud in The Mystery of Edwin Drood, Kay in The Taffetas, Daughter in Quilters, Lady Angela in Patience, Peep Bo in The Mikado, and Adriana in The Comedy of Errors. Lauren is delighted to make her first appearance on the Firehouse stage with so many dear friends, including her darling husband, Larry. Many thanks to Matt and Sam for letting mom and dad “play” together! 
Laine Satterfield (Eurydice) has performed in, taught, choreographed, and created theatre both nationally and internationally. Recent Richmond roles include Lucy in Mr. Marmalade (Firehouse Theatre Project), Ellen in The Little Dog Laughed, Marie-Louise in The Constant Wife (Barksdale), Vagina Monologues (Firehouse), and Lady MacBeth in MacBeth (Richmond Shakespeare). Other favorite roles include Principal in Book of the Dead (The Public Theatre, NYC), Paulina in Death and the Maiden, Elena in Uncle Vanya, Molly Ivors in James Joyces’ the Dead, Ariel in The Tempest, Beth in Dinner with Friends, Shelley in Buried Child (Company of Fools, Idaho), Morgan Le Faye in Morgana (Teatro Proskenion, Italy, Denmark – original solo show), Anna in Peter and the Wolf (Lincoln Center, NYC), Juliet in Romeo and Juliet (A Cry of Players, NYC), Bride/Raven in Where Ravens Rule: a theatrical response to Bosnia (Edinburgh Fringe First award winner), Cordelia in Lear’s Daughters (New York Fringe Festival), Dame Ellen Terry in An Actor’s Nightmare (Women’s Work Festival, NYC), and others. She holds a BFA from Tisch School of the Arts at NYU and has trained at the University of Eurasian Theatre (with Eugenio Barba and Odin Teatret), Yoshi Oida, Stella Adler Conservatory, Carnegie-Mellon University, and the University College of London (dramaturgy - Shakespeare and modern British). She currently teaches acting for SPARC and has taught at New York University, Stella Adler Conservatory, Aquila University in Italy, Virginia Governor’s School for Arts and Humanities, Company of Fools in Idaho, Artspower, and various workshops in the states and abroad. She is a member of Actors’ Equity Association. 
Phil Hayes (Scenic Designer) is thrilled to be designing for the Firehouse for the first time and working with Rusty. Currently he finished his Master’s degree in Scene Design/Technical Theatre from VCU last May. He has also been the Assistant Technical Director for the Department of Theatre and Dance at the University of Richmond for the past 5 years. He has had the opportunity to travel to Russia as an Assistant Technical Director to many theatres in the cities of Samara, St. Petersburg, and Saratov. Along with being a Technical Director, Phil has been in numerous movies and television show either as an actor, stuntman, or special effects technician. His latest design was for Barksdale’s production of Doubt: A Parable, which opened in February. 
Samantha Kittle (Properties Mistress/Co-Costume Designer) is pleased to be working on another great Firehouse production. She has a degree in Theatre Studies and Women’s Studies from Guilford College and plans to attend VCU’s School of Social Work next year. 
