Oct 31

Perhaps the most alarming slice of twentieth-century U.S. political history is virtually unknown to the general public, including most scholars of American history.

In 1934 a special Congressional committee was appointed to conduct an investigation of a possible planned coup intended to topple the administration of President Franklin D. Roosevelt and replace it with a government modelled on the policies of Adolf Hitler and Benito Mussolini. The shocking results of the investigation were promptly scotched and stashed in the National Archives. While the coup attempt was reported at the time in a few newspapers, including The New York Times, the story disappeared from public memory shortly after the Congressional findings were made available to president Roosevelt. It was the recent release from the Archives of the Congressional report that prompted the BBC and Horton commentaries.

Related article: G. W. Bush and Adolf Hitler signed a Directive 51

The Congressional committee had discovered that some of the foremost members of the economic elite, many of them household names at the time, had indeed hatched a meticulously detailed and massively funded plot to effect a fascist coup in America. The plotters represented prominent families – Rockefeller, Mellon, Pew, enterprises like Morgan, Dupont, Pew, Remington, Anaconda, Bethlehem and Goodyear, along with the owners of Bird’s Eye, Maxwell House and Heinz. Totaling about twenty four major businessmen and Wall Street financiers, they planned to assemble a private army of half a million men, composed largely of unemployed veterans. These troops would both constitute the armed force behind the coup and defeat any resistance this in-house revolution might generate. The economic elite would provide the material resources required to sustain the new government.

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Oct 06

Oct. 6 (Bloomberg) — Federal Reserve Chairman Ben S. Bernanke may find the next fronts of the financial crisis to be just as chilling as last month’s downfall of Wall Street titans: its spread to corporate America and state and local governments.

Companies from Goodyear Tire & Rubber Co. and Duke Energy Corp. to Gannett Co. and Caterpillar Inc. are being forced to tap emergency credit lines or pay more to borrow as investors flee even firms with few links to the subprime-mortgage debacle. California Governor Arnold Schwarzenegger says his and other states may need emergency federal loans as funding dries up.

A cash crunch on Main Street would endanger companies’ basic functions — paying suppliers, making payrolls and rolling over debt. The widening of the crisis suggests that Bernanke and Treasury Secretary Henry Paulson may have further fires to put out even as the Treasury sets up the $700 billion financial- industry rescue plan approved last week.

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Apr 16
WASHINGTON — The Senate proclaimed a fierce bipartisan resolve two weeks ago to help American homeowners in danger of foreclosure. But while a bill that senators approved last week would take modest steps toward that goal, it would also provide billions of dollars in tax breaks — for automakers, airlines, alternative energy producers and other struggling industries, as well as home builders.

The tax provisions of the Foreclosure Prevention Act, which consumer groups and labor leaders say amount to government handouts to big business, show how the credit crisis, while rattling the housing and financial markets, has created beneficiaries in the power corridors of Washington.

It also shows how legislation with a populist imperative offers a chance for lobbyists to press their clients’ interests.

This has proved especially true on the housing legislation, which many lawmakers and lobbyists view as one of the last opportunities before Congress grinds to a halt amid election-year politics.

In the Senate bill, the nation’s biggest home builders, some now on the verge of bankruptcy, won a provision that would let them claim millions in tax refunds by charging their current losses against the huge profits they made three or four years ago. Other struggling industries would benefit from this provision.


Sen. Christopher J. Dodd, Democrat of Connecticut, was the main author of the Senate bill meant to help homeowners.

(The ones who will really benefit from this are, like always, the corporations.
And guess who will pay for these tax breaks in the end? – The Infinite Unknown)

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