NEWSgrist - where spin is art

Josh Whedon: Prepare for the Zomney Apocalypse

Watch video on Youtube

Rmoney Never Sleeps

 

Via The Nation:

Mitt Romney's Bailout Bonanza {excerpt}

By Greg Palast

October 17, 2012  

This investigation was supported by the Investigative Fund at the Nation Institute and by the Puffin Foundation. Elements of it appear in Palast’s new book, Billionaires & Ballot Bandits: How to Steal an Election in 9 Easy Steps (Seven Stories). Research assistance by Zach D. Roberts, Ari Paul, Nader Atassi and Eric Wuestewald.

Mitt Romney’s opposition to the auto bailout has haunted him on the campaign trail, especially in Rust Belt states like Ohio. There, in September, the Obama campaign launched television ads blasting Romney’s November 2008 New York Times op-ed, “Let Detroit Go Bankrupt.” But Romney has done a good job of concealing, until now, the fact that he and his wife, Ann, personally gained at least $15.3 million from the bailout—and a few of Romney’s most important Wall Street donors made more than $4 billion. Their gains, and the Romneys’, were astronomical—more than 3,000 percent on their investment.

It all starts with Delphi Automotive, a former General Motors subsidiary whose auto parts remain essential to GM’s production lines. No bailout of GM—or Chrysler, for that matter—could have been successful without saving Delphi. So, in addition to making massive loans to automakers in 2009, the federal government sent, directly or indirectly, more than $12.9 billion to Delphi—and to the hedge funds that had gained control over it.

One of the hedge funds profiting from that bailout—
$1.28 billion so far—is Elliott Management, directed by 
Paul Singer. According to The Wall Street Journal, Singer has given more to support GOP candidates—$2.3 million—than anyone else on Wall Street this election season. His personal giving is matched by that of his colleagues at Elliott; collectively, they have donated $3.4 million to help elect Republicans this season, while giving only $1,650 to Democrats. And Singer is influential with the GOP presidential candidate; he’s not only an informal adviser but, according to the Journal, his support was critical in helping push Representative Paul Ryan onto the ticket.

Singer, whom Fortune magazine calls a “passionate defender of the 1%,” has carved out a specialty investing in distressed firms and distressed nations, which he does by buying up their debt for pennies on the dollar and then demanding payment in full. This so-called “vulture investor” received $58 million on Peruvian debt that he snapped up for $11.4 million, and $90 million on Congolese debt that he bought for a mere $20 million. In the process, he’s built one of the largest private equity firms in the nation, and over decades he’s racked up an unusually high average return on investments of 14 percent.

Other GOP presidential hopefuls chased Singer’s endorsement, but Mitt chased Singer with his own checkbook, investing at least $1 million with Elliott through Ann Romney’s blind trust (it could be far more, but the Romneys have declined to disclose exactly how much). Along the way, Singer gained a reputation, according to Fortune, “for strong-arming his way to profit.” That is certainly what happened at Delphi.

[Read on...]

Video via DemocracyNow:

Greg Palast: "Mitt Romney’s Bailout Bonanza: How He Made Millions from the Rescue of Detroit"

..

We turn now to a major new exposé on the cover of The Nation magazine called "Mitt Romney’s Bailout Bonanza: How He Made Millions from the Rescue of Detroit." Investigative reporter Greg Palast reveals how Republican presidential nominee Mitt Romney made some $15 million on the auto bailout and that three of Romney’s top donors made more than $4 billion for their hedge funds from the bailout. Palast’s report is part of a film-in-progress called "Romney’s Bailout Bonanza." Palast is the author of several books, including recently released New York Times bestseller, "Billionaires & Ballot Bandits: How to Steal an Election in 9 Easy Steps." [includes rush transcript]

Filed under  Mitt Romney, Election 2012, Greg Palast

Guest:

Greg Palast, investigative reporter who has tracked Romney’s "vulture" fund partners for five years for BBC Television’s Newsnight. He is the author of the recently released New York Times bestseller, Billionaires & Ballot Bandits: How to Steal an Election in 9 Easy Steps. His new Nation exposé is called "Mitt Romney’s Bailout Bonanza: How Mitt and Ann Made Millions — and Mitt’s Hedge Fund Donors Made Billions — from the Auto-Industry Rescue that He Condemned."

4 Possible Outcomes for Cariou v. Prince

 

Courtesy Flickr and the Artists; Illustration by BLOUIN ARTINFO - Image Via

Handicapping Cariou v. Prince: 4 Possible Outcomes for the Landmark Appropriation Art Lawsuit

by Rachel Corbett

Published: August 29, 2012 in ARTINFO.com

Rumors have been swirling that judges in the Patrick Cariou v. Richard Prince copyright lawsuit are nearing a decision. But while the outcome of the ongoing appeal has been eagerly anticipated on both sides, there’s a good chance the answer won’t be a simple “guilty” or “not guilty” for Prince. Instead, legal experts expect the judgment to fall somewhere in between, or perhaps even branch off into dozens of rulings — one for each painting in the contested series.

Last year, U.S. district court judge Deborah Batts sent shock waves through the art world when she ruled that Prince’s “Canal Zone” collages, which incorporate photographs from Cariou’s book, “Yes, Rasta,” infringed on the photographer’s copyright. Batts wrote that Prince didn’t meet the four standards of the fair use principle, and that ultimately the paintings — some of which are worth more than $10 million — could be destroyed.

Whatever the outcome of Prince’s appeal, that penalty doesn’t seem likely to stand. In May, one of the three appellate court judges, Barrington Parker, compared the injunction to “something that would appeal to, you know, Huns or the Taliban.” In fact, according to Columbia University law professor Philippa Loengard, it’s “very unlikely” that the judges will uphold the lower court’s decision in its entirety. “I would bet millions that’s not going to happen,” she told ARTINFO.

So, we asked Loengard, what are the other possible scenarios?

 

READ ON.....

Vajayjay and its Discontents

I'm sure everyone's been reading about the 'vagina flap' segment of Michigan's War on Women. This morning, my husband and I called the offices of GOP Majority Floor Leader Jim Stamas to let him know our concerns. We got a recording and left the following message:

 

Me: Sir, I'd like to know what you plan to do about the secret pee-pee place problem. I mean, really: WHAT ARE YOU GOING TO DO ABOUT THE SECRET PEE-PEE PLACE??!

Me and Husband (loud, in unison): VAGINA!!!!!

 

Here's the toll-free number: (800) 626-8887

Vagina! have fun!

 

More info:

State Rep Lisa Brown (6/14):

GOP Tactics on House Floor Silence Women Legislators for Fighting Back

LANSING - Majority Floor Leader Jim Stamas (R-Midland) today banned two Democratic women legislators from speaking on the House Floor as the House of Representatives takes up its final legislation before the summer recess. State Representatives Lisa Brown (D-West Bloomfield) and Barb Byrum (D-Onondaga) were not told why the ban was put in place, but it is widely believed it stems from their opposition to radical anti-choice legislation that passed the House yesterday.

[....] 

Brendan Calling (6/15):

Michigan State Majority Leader Jim Stamas Hates the Word “Vagina” and the Women Who Have Them

After offending Majority Floor Leader Jim Stamas by using the offensively medically accurate word “vagina” in an impassioned floor speech opposing Michigan’s draconian new abortion law, State Representative Lisa Brown was banned indefinitely from speaking on the floor of the House of Representatives. Her colleague Barb Byrum, another passionate pro-choice elected official, was also served with an indefinite Shut The Fuck Up order from the the male-lead body. Apparently, during Michigan’s War on Women, ladies aren’t even allowed to serve in combat.

 

Angry Black lady Chronicles (6/14):

Michigan GOP Rep. Mike Callton (R-Vagina) Offended by the Word “Vagina” — VAGINA! VAGINA! VAGINA! VAGINA!

Apparently, not only is “uterus” an inappropriate and offensive term, but the word “vagina” is, too — at least in Michigan.

You know “vagina.”  You either have one, or you know someone who has one. You definitely came out of one, and chances are you’re trying to get back inside of one right now.

Well, here’s a tip for all you Michiganders: if you’re successful in getting inside one, KEEP IT TO YOURSELF.

Whatever you do, don’t yell “Vagina!” like you would “Eureka!” upon discovering gold at the end of a rainbow, or gaining entrance to a highly coveted and special place. “Vagina” is offensive and will get you a proper scolding and banned from speaking if you dare use the term during a House debate about legislating vaginas

 

“Canceled”: Art, Censorship and the Possibility in Failure at The Center for Book Arts

View of “Canceled: Alternative Manifestations and Productive Failures,” 2012

via Artforum Critics' Picks:

“Canceled: Alternative Manifestations and Productive Failures”

THE CENTER FOR BOOK ARTS
28 W 27th Street, 3rd Floor
April 18–June 30

06.04.12

Author: Zachary Sachs

04.18.12-06.30.12 The Center for Book Arts

Richard Prince v. Patrick Cariou, a fair-use case currently in appeals, threatens to set a dangerous precedent for the legality of appropriation. The initial ruling against Prince in 2011 included—in a surprisingly draconian injunction—an order that the works be destroyed or never displayed publicly. Cases like this can make an artwork seem considerably less interesting than the machinery of art and institutions that revolve around it. Greg Allen’s YES RASTA, 2011, a deadpan bound volume that reproduces depositions in the case, is one of the sixteen quasi-documentary, quasi-performative works on display in “Canceled.” The exhibition courses through several decades of art’s challenges to censorship, from the Los Angeles Police Department’s late-1950s persecution of Wallace Berman’s work and exhibition (“pornography”), to the imploding of Manifesta 6 in 2006 (Cypriot politics), to David Wojnarowicz’s recent expulsion from the Smithsonian’s “Hide/Seek” exhibition (an “assault on the sensibilities of Christians”).

Some remarkable artifacts come to the surface in this extensive trawling: a one-of-a-kind collaged mailer from the artist Cameron to Berman; Hans Haacke’s personal copy of his monograph Werkmonographie, which documents his inspired struggle with the Guggenheim in 1971. (The muscular neutrality of Haacke’s work made him seem a particularly stylish David wielding nothing more than Concept against Goliath’s vested interests. Here you can find the best joke, from the Guggenheim’s rejection letter to Haacke: “The trustees have established policies that exclude active engagement toward political and social ends.”)

At times the curatorial conceit can be a bit baggy: Seth Siegelaub’s books-as-exhibitions from the 1960s are a form of rejecting the gallery’s physical space, but they have little rapport with the conflict that animates most of the other selections. The curator, Lauren van Haaften-Schick, suggests in an accompanying essay that that the exclusion of contested artworks from exhibitions represents “ultimately productive failure,” which reminded me of the chestnut “fail better” from Samuel Beckett’s last novel, Worstward Ho (1983). Beckett was fairly black about about one’s prospects in the end (hence that title)—“Canceled” leaves one with a much more generous feeling about the possibility of failure.