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Category Archives: fools ‘n frauds
Troubled Asset Relief Program Report – Same Villains
Lawmakers created the TARP in 2008 to stabilize the roiling financial markets. Given what appears to be universal Republican intransigence on guaranteeing US Treasury repayment of the huge amount of debt piled up considerably during the Trump Administration, and the ongoing Republican folly of tax-cuts for the wealthy and other forms of corporate welfare, it appears that the US is once again headed for a crash in the financial markets, a recession and perhaps a resulting global depression. If another bailout is needed to provide stability in financial markets by purchasing and guaranteeing “troubled assets,” let’s hope we learn from the past and awaken to the idea that bailed out banks and financial institutions will have to give taxpayers equity in the institutions commensurate with the amount of money given them. Continue reading
Political Climate Change – Man Sentenced in Foiled Michigan Governor Kidnapping Conspiracy
A jury in an earlier trial was unable to reach a verdict. In my view, things have changed significantly in many people’s minds about the Big Lie and the associated, often violent, assaults against institutions and people as the January 6 Committee during the past year presented its devastating case of what went on and who was part of it. Call it a national warming toward protecting our Democracy after the melting of the last Republican ice age. National security is also a critical issue in Trump’s case, of course, with his unexplained stolen documents. Continue reading
Posted in AutoInformed Editorial, fools 'n frauds, news analysis, people
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Chinese Government Intelligence Officer Sentenced to Prison
Yanjun Xu, 42, was sentenced to 20 years in prison. According to court documents, Xu targeted American aviation companies, recruited employees to travel to China, and solicited their proprietary information, all on behalf of the government of the People’s Republic of China (PRC). The Justice Department and the FBI of course are involved in other grave national security matters that if indictments come won’t require extradition of the alleged offender and co-conspirators from Mir-a-Lago. Continue reading
Nissan to Exit Russian Market. Maybe
The sale is expected to be formalized in the coming weeks following approvals from the authorities, which sure looks inevitable since it’s being sold to the Russian government. The terms of the sale are hedged. It would allow Nissan the option to buy back the entity and its operations within the next six years. It’s the latest example of global automakers shutting operation in a totalitarian state. Will China be next? Continue reading
Auto Warranty Scams: FCC Acts Against Robocalls and Texts
“Billions of auto warranty robocalls from a single calling campaign. Billions! Auto warranty scams are one of the top complaints we get from consumers and it’s time to hold those responsible for making these junk calls,” said FCC Chairwoman Jessica Rosenworcel. Continue reading
FAA – Largest Fines Ever for Two Unruly Passengers
“If you are on an airplane, don’t be a jerk and don’t endanger the flight crews and fellow passengers. If you do, you will be fined by the FAA,” U.S. Transportation Sec. Pete Buttigieg said when he announced the fines. Continue reading
Posted in aviation, fools 'n frauds
Tagged auto industry commentary, autoinformed.com, faa, Ken Zino, unruly passengers
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EPA Fines Iowa, Missouri Sellers of Auto ‘Defeat Devices’
The U.S. Environmental Protection Agency said today it will collect civil penalties from two companies that allegedly sold illegal “defeat devices” that are designed to make automobile emission controls inoperative, in violation of the federal Clean Air Act. Baillie Diesel … Continue reading
Nikola to Pay $125 Million to SEC on Fraud Charges
The SEC’s order says that “before Nikola had produced a single commercial product, Milton embarked on a public relations campaign aimed at inflating and maintaining Nikola’s stock price. Milton’s statements in tweets and media appearances falsely gave investors the impression that Nikola had reached certain product and technological milestones.” Continue reading
Census – US Population Growth Slowest Ever
Given our urgent need to be internationally competitive and the staunch Republican opposition to helping poor families and young children in favor of tax cuts for the super wealthy, the news comes at a particularly bad time for the Party of Nope , aka Republicans or the grand old white NOPe. When will they put country over ideological allegiance to what is now the party of insurrection and treason? Continue reading
Immunomedics CFO Charged with Insider Trading
Herewith the, err, lowlights from the SEC legal action: while serving as CFO of Immunomedics, Usama Malik learned that the FDA had permitted the company to halt a clinical trial for a breast cancer drug because the existing trial data provided compelling evidence that the drug was effective. Malik – who was subject to a trading “black-out” that prohibited him and anyone living in his household from purchasing Immunomedics stock – immediately told Lauren S. Wood, with whom he lived at the time, as well as three family members. Wood and two of the family members then bought Immunomedics stock, as did an account in the name of the third family member’s spouse. Continue reading
Thanksgiving 2021 – We Celebrate Our 401st Annual Feast
This war was won – against all odds by common militias and irregulars. They compelled a superpower British Army to surrender in the field for the first time since the tyrant Napoleon – because the Crown and its privileged generals were fighting an idea first put forth in our Declaration of Independence, then codified in our Constitution that “We the People” would govern ourselves. This WE idea was bigger than a richly privileged class who hired others to fight for them. Now, once again, the courtiers of privilege and wealth – if not mega-wealth itself – is presiding over our fate using hatred and drummed up grievances that omit WE in favor of traitorous behavior aimed at burning Our Constitution at the hands of proud boys of insurrection. Continue reading
FAA Fines Passengers for Alcohol-Related Unruly Behavior
Some of the cases have been referred to the Department of Justice for criminal action. Federal law prohibits passengers from consuming alcohol aboard a flight that is not served by a flight attendant. In August, the FAA administrator sent a letter to airports requesting that they work to prevent passengers from bringing “to-go” cups of alcohol aboard the aircraft. Continue reading
Biden’s Build Back Better Act Decreases Budget Deficit!
Some of those budgetary effects are associated with programs that are classified as off-budget. The decrease in the on-budget deficit over that period would be $783.3 billion. To do the math for insurrectionist Republicans, this means ~$14 Billion dollars in the black, which probably because of the color means that most Republicans will no doubt oppose it. The failed former president, currently the insurrectionist in chief residing in Flori-duh, not only didn’t actually do anything to repair the infrastructure despite voluminous weekly (weakly?) announcements that it was infrastructure week, his tax cuts for the rich ran up record deficits. Continue reading
Mazda, Toyota Building 2022 Corolla Cross in Alabama
Alabama, aside from its history of racism and white supremacy, is a right to work*” (for less?) state, which means workers don’t have to be unionized.** Want to bet the Mazda will be a crossover, with maybe a sub-line for a hybrid and or EV? Toyota is vehemently lobbying against the Biden Administration’s ambitious Build Back Better plan that has a provision for made in American by union workers to be eligible for substantial taxpayer-subsidized EV subsidies. This is part of a forward-thinking strategic plan to create middle-class jobs and benefits from the Administration that was put in place by a majority of voters to rid our democracy of the treasonous former Administration still being led from Trump Castle in Mar-a-Lago (Mar-a-Lardo?) that promoted the January 6 insurrection attempt to take over the US Capital and overturn the Presidential election, aka Big Lie that is the ongoing core (rotten) of the Republican party.
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Tesoro Refining to Pay Penalty for Consent Decree Violations
“Tesoro did not meet the consent decree pollution limit because it did not install adequate pollution controls,” said Acting Assistant Administrator Larry Starfield for EPA’s Office of Enforcement and Compliance Assurance. “As this settlement shows, EPA will seek substantial penalties when companies delay installing appropriate pollution controls to meet environmental obligations.” Continue reading →