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    <title>The Vile Plutocrat Headlines</title>
    <link>http://thevileplutocrat.com/site/</link>
    <description></description>
    <dc:language>en</dc:language>
    <dc:creator>bile@thevileplutocrat.com</dc:creator>
    <dc:rights>Copyright 2010</dc:rights>
    <dc:date>2010-02-28T18:23:50+00:00</dc:date>
    <admin:generatorAgent rdf:resource="http://www.pmachine.com/" />
    

    <item>
      <title>&#8220;Big Money&#8221; Gets Folk Singer Fired</title>
      <link>http://thevileplutocrat.com/bile/articles/big_money_gets_folk_singer_fired/</link>
      <guid>http://thevileplutocrat.com/bile/articles/big_money_gets_folk_singer_fired/#When:18:23:50Z</guid>
      <description><![CDATA[On his 2003 album “Recycle,” Aspen singer-songwriter Dan Sheridan included a song of his, “Big Money,” that took aim at the damaging effects that wealth has had on Aspen: mini-castles protected by impenetrable fences, the pushing out of the working class. After patron requested he sing “Big Money”, Sheridan was summarily dismissed from his job as an après-ski entertainer at Sneaky's Tavern, a Snowmass Village spot owned by the Aspen Skiing Co. It just so happened, an executive of Ski Co. was in the audience and he didn't appreciate the sentiment of the song. [The Aspen Times]<p>
	Mr. Sheridan was fired for singing about a truth that cannot be denied. Anyone who has spent longer than a week in a mountain town knows how devastating wealth is to the local population. And, it should come as no surprise to any big spender how much locals love to hate how the beauty of their natural surroundings is also the cross they have to bear. However much wealth supports the very basic lives most ski town people live, wealth takes away far more in higher property taxes, higher costs of living, destruction of the environment, restricted access to formerly public land, and community. In Aspen, real estate has become so expensive that the city provides subsidized housing for people who work regular jobs in town. Nonetheless, it&#39;s a cycle that will never be broken. Money will always be welcomed by local governments and the simple needs of their citizens will always play second fiddle to the almighty dollar.</p>
<p>
	The addendum to this story is that the outrage over Sheridan&#39;s firing led to a blizzard of press from news articles to interviews which put enough pressure on Ski Co. to relent and offer their apologies for having him dismissed. He has been allowed to return to Sneaky&#39;s Tavern, but has not taken them up on the offer.</p>
<p>
	Mr. Sheridan, as a former ski instructor and displaced ski bum, you have my everlasting respect.</p>
<blockquote>
	<h2>
		&ldquo;Big Money&rdquo;<br />
		<span class="Apple-style-span" style="font-size: 12px; ">By Dan Sheridan</span></h2>
	<p>
		&ldquo;I was walking my dog, down the old walking trail,<br />
		When I ran into a posted sign, pending future sale<br />
		To some Hollywood mogul, who feels that he should<br />
		Build a mansion in the mountains, his &ldquo;cabin in the woods&rdquo;</p>
	<p>
		They come here from Miami, they come here from L.A.<br />
		And bring a part of a city, that will never go away<br />
		Like a fear of strangers, accelerated time<br />
		The sound of car alarms, in a town without crime<br />
		Like quaint wooden fences, patrolled security<br />
		Setting up borders where they never used to be</p>
	<p>
		CHORUS: Down in their graves you can hear the miners sing<br />
		Big Money ruins everything</p>
	<p>
		Well it happened in Aspen, and down in Sante Fe<br />
		It happens everywhere, when the locals move away<br />
		Because we can&rsquo;t afford to live here, we can&rsquo;t afford the rent<br />
		Unless we win the lottery, or live in a tent</p>
	<p>
		I think big money sucks, please write that down<br />
		Please take a look what it did to this town<br />
		Trophy houses, trophy wives,<br />
		Trophy people leading trophy lives</p>
	<p>
		CHORUS: Down in their graves you can hear the miners sing<br />
		Big money ruins everything</p>
	<p>
		Say goodbye to all the artists, and people who can ski<br />
		Say hello to private golf courses, and elective surgery</p>
	<p>
		I think I&rsquo;ll build a billboard, at the entrance of this town<br />
		If you came to prove how rich you are, please just turn around<br />
		Please turn around, high tail and run<br />
		you probably already ruined where you coming from</p>
	<p>
		So I went to the hardware store, but it has been replaced<br />
		With a boutique for trophy wives, with a reconstructed face<br />
		All it only sells handbags, stuff you&rsquo;ll never need<br />
		Like fine Italian shoes, or tasteful jewelry<br />
		So we blame it on the landlords, blame it all on greed<br />
		We blame it on the excess, of the nouveau riche</p>
	<p>
		CHORUS: Down in their Graves you can hear the miners sing<br />
		Big money ruins everything</p>
	<p>
		How did this happen, how did it occur?<br />
		Women driving Hummers, men wearing fur!</p>
	<p>
		Now I sing at corporate parties, make them feel like a kid<br />
		Because I play acoustic guitar, just like John Denver did<br />
		But they don&rsquo;t listen to my words, the words I&rsquo;ve been singing<br />
		I&rsquo;m just here to fill the void, between cell phones ringing</p>
	<p>
		I recently found a letter, that I wrote to myself<br />
		It said, &ldquo;If you get old an bitter, you better move somewhere else&rdquo;<br />
		But I ain&rsquo;t going nowhere, I won&rsquo;t give up on this town<br />
		I won&rsquo;t give up on my friends, Who somehow stick around</p>
	<p>
		CHORUS: Down in their graves you can hear the miners sing<br />
		Big money ruins everything</p>
	<p>
		Women at the Caribou, with liposuctioned hips<br />
		And in the name of balance they re-inflate their Lips</p>
	<p>
		CHORUS: Down in their graves you can hear the miners sing<br />
		Big money ruins everything&rdquo;</p>
</blockquote>
<p>
	YouTube&nbsp;<a href="http://www.youtube.com/watch?v=x2jZQRzKuI0">http://www.youtube.com/watch?v=x2jZQRzKuI0</a></p>
<p>
	<a href="http://www.amazon.com/Recycle-Dan-Sheridan/dp/B00009YAG8/ref=sr_1_1?ie=UTF8&amp;s=music&amp;qid=1267455966&amp;sr=1-1">Dan Sheridan on Amazon</a></p>{extended}]]></description>
      <dc:subject>Articles, Super Headline, Original Content</dc:subject>
      <dc:date>2010-02-28T18:23:50+00:00</dc:date>
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    <item>
      <title>Panel finds Representative Rangel&#8217;s trips broke congressional gift rules</title>
      <link>http://thevileplutocrat.com/bile/articles/panel_finds_representative_rangels_trips_broke_congressional_gift_rules/</link>
      <guid>http://thevileplutocrat.com/bile/articles/panel_finds_representative_rangels_trips_broke_congressional_gift_rules/#When:15:12:49Z</guid>
      <description><![CDATA[Rep. Charles B. Rangel broke congressional gift rules by accepting trips to Caribbean conferences that were financed by corporate interests, the House ethics committee said Thursday.<p>
	While the panel did not find that the New York Democrat, who chairs the House Ways and Means Committee, knew about the corporate backing for the trips in 2007 and 2008, it concluded that members of his staff were aware and that he was therefore responsible. The committee&nbsp;said its report&nbsp;was intended to &quot;serve as a public admonishment&quot; of Rangel, and it ordered him to repay costs of the trips.</p>
<p>
	<em>&quot;They&#39;re saying that my staff -- at least two members -- did know [about the financing], and I should have known, and I&#39;m being admonished for that,&quot;</em> Rangel said before the report was released. &nbsp;</p>
<p>
	<span _fck_bookmark="1" style="display: none; ">&nbsp;</span></p>{extended}]]></description>
      <dc:subject>Articles, Headline</dc:subject>
      <dc:date>2010-02-27T15:12:49+00:00</dc:date>
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    <item>
      <title>Probe: Did big U.S. banks contribute to the financial crisis in Greece?</title>
      <link>http://thevileplutocrat.com/bile/articles/probe_did_big_u.s._banks_contribute_to_the_financial_crisis_in_greece/</link>
      <guid>http://thevileplutocrat.com/bile/articles/probe_did_big_u.s._banks_contribute_to_the_financial_crisis_in_greece/#When:15:32:47Z</guid>
      <description><![CDATA[Federal Reserve Chairman Ben S. Bernanke said that the federal government is looking into the role U.S. banks may have played in the Greek fiscal crisis.<p>
	The Federal Reserve and Securities and Exchange Commission are seeking information about whether&nbsp;Goldman Sachs&nbsp;and other U.S. firms helped set up financial transactions over the past decade that effectively hid the amount of debt Greece was taking on. Another potential issue is whether banks and hedge funds, by taking big bets that Greece would default, are creating a self-fulfilling downward spiral for the Mediterranean nation.</p>
<p>
	<em>&quot;We are looking into a number of questions related to Goldman Sachs and other companies and their derivatives arrangements with Greece,&quot;</em> Bernanke said, testifying before the Senate banking committee.</p>{extended}]]></description>
      <dc:subject>Articles, Sub Headline</dc:subject>
      <dc:date>2010-02-26T15:32:47+00:00</dc:date>
    </item>

    <item>
      <title>Wall Street shifting political contributions to Republicans</title>
      <link>http://thevileplutocrat.com/bile/articles/wall_street_shifting_political_contributions_to_republicans/</link>
      <guid>http://thevileplutocrat.com/bile/articles/wall_street_shifting_political_contributions_to_republicans/#When:14:10:15Z</guid>
      <description><![CDATA[Not that this bit of news should come as any surprise to anyone who follows politics, but commercial banks and high-flying investment firms have shifted their political contributions toward Republicans in recent months amid harsh rhetoric from Democrats about fat bank profits, generous bonuses and stingy lending policies on Wall Street.<p>
	Commercial banks and their employees also returned to their traditional tilt in favor of&nbsp;the GOP&nbsp;after a brief dalliance with Democrats, giving nearly twice as much to Republicans during the last three months of 2009, the data show.</p>
<p>
	The nascent shift came even before the White House announced proposals for a new tax on banks and a curb on some of their riskiest trading activities. [WAPO]</p>{extended}]]></description>
      <dc:subject>Articles, Sub Headline</dc:subject>
      <dc:date>2010-02-24T14:10:15+00:00</dc:date>
    </item>

    <item>
      <title>Judge approves Bank of America&#8217;s slap&#45;on&#45;the&#45;wrist on behalf of the SEC</title>
      <link>http://thevileplutocrat.com/bile/articles/judge_approves_bank_of_americas_slap-on-the-wrist_on_behalf_of_the_sec/</link>
      <guid>http://thevileplutocrat.com/bile/articles/judge_approves_bank_of_americas_slap-on-the-wrist_on_behalf_of_the_sec/#When:17:33:14Z</guid>
      <description><![CDATA[A federal judge on Monday morning approved a $150 million settlement between the Securities and Exchange Commission and Bank of America over allegations that the firm lied to investors about bonuses and mounting losses during the financial crisis of fall 2008. [WAPO]<p>
	You may be lulled by the title of this article from the Washington Post,<em> <a href="http://www.washingtonpost.com/wp-dyn/content/article/2010/02/22/AR2010022202062.html">&quot;Judge criticizes, but approves, settlement with Bank of America&quot;</a></em> into believing that some semblance of justice was served by the fine imposed on Bank of America for defrauding it&#39;s shareholders then turning around and accepting TARP handouts from the federal government in an effort to cover it&#39;s losses.</p>
<p>
	There are plenty of good resources you can read to get up-to-speed on the case so I won&#39;t bore you with the details. For a good recap read:&nbsp;<a href="http://business.theatlantic.com/2010/02/bank_of_americas_fraud_charges_are_very_serious.php">The Atlantic - Bank of America&#39;s Fraud Charges are Very Serious</a></p>
<p>
	I&#39;d like to focus on the money. Bank of America&nbsp;wrote off losses of nearly $4 billion dollars after absorbing Merrill. Then, proceeded to conceal the losses, lie about $15 billion in bonuses, then asked for approximately $45 billion in tax payer monies to help the Merrill &quot;merger&quot;.</p>
<p>
	OK. So a judge ruled that Bank of America must settle it&#39;s feud with the SEC, or the SEC&#39;s feud with Bank of America, by paying a $150 million fine. Seems fair, it&#39;s not like we should expect Bank of America to repay the full $4 billion they stole from investors. That would be unAmerican.</p>
<p>
	$150 million is an unfathomable amount of money to an average middle class schmuck, but to a CEO ...</p>
<blockquote>
	<p>
		When Ken Lewis finally leaves Bank of America, his severance package &mdash; which is based on his track record of building an empire, then looting the shit out of it &mdash; will be in the righteous neighborhood of $125 million. By any measure, that is one helluva goodbye kiss.</p>
	<p>
		<em>A serial thief will be honored with one of the largest severance packages in American corporate history.</em></p>
</blockquote>
<p>
	This is unacceptable on so many levels, but it shines a glaring light on the bankruptcy (and collusion) of our so-called &quot;justice&quot; system.</p>{extended}]]></description>
      <dc:subject>Articles, Headline, Original Content</dc:subject>
      <dc:date>2010-02-22T17:33:14+00:00</dc:date>
    </item>

    <item>
      <title>D.C. Council Member Marion Barry benefited from city contract obtained for ex&#45;girlfriend</title>
      <link>http://thevileplutocrat.com/bile/articles/d.c._council_member_marion_barry_benefited/</link>
      <guid>http://thevileplutocrat.com/bile/articles/d.c._council_member_marion_barry_benefited/#When:12:27:17Z</guid>
      <description><![CDATA[D.C. Council Member Marion Barry personally benefited from the contract he obtained for his former girlfriend and directed earmarks that "provided substantial financial benefits to some of his close friends and supports."<p>
	In July, after news surfaced that Barry had given Donna Watts-Brighthaupt a city contract,&nbsp;the council asked Bennett&nbsp;to investigate the matter and review the council process for distributing earmarks.</p>
<p>
	According to the <a href="http://voices.washingtonpost.com/dc/bennettReport%20of%20Investigation%20Pursuant%20to%20DC%20Council%20Resolution%2018-217.pdf">Bennett Report</a>, which was released this morning, Bennett concludes that Barry sought approval of Watts-Brighthaupt contract after he loaned her money to help her pay her bills. After Barry secured the contract for Watts-Brighthaupt, he then forced her to use her paycheck to repay him.</p>
<p>
	The Bennett report also looks into the 41 earmarks that Barry sponsored in fiscal year 2007, which totaled about $8.5 million.</p>{extended}]]></description>
      <dc:subject>Articles, Headline</dc:subject>
      <dc:date>2010-02-19T12:27:17+00:00</dc:date>
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    <item>
      <title>JPMorgan&#8217;s CEO, Jamie Dimon, reaps $16 million bonus</title>
      <link>http://thevileplutocrat.com/bile/articles/jpmorgans_ceo_jamie_dimon_reaps_16_million_bonus/</link>
      <guid>http://thevileplutocrat.com/bile/articles/jpmorgans_ceo_jamie_dimon_reaps_16_million_bonus/#When:22:49:54Z</guid>
      <description><![CDATA[WASHINGTON — Jamie Dimon, chief executive and chairman of Wall Street investment giant JPMorgan Chase, reaped a 2009 bonus of about 16 million dollars in shares and options on shares, a bank spokesman said Friday.<p>
	News about Dimon&#39;s hefty bonus comes amid a public furor over big bonuses that some blame for the excessive risk taking that fuelled the global financial crisis.</p>
<p>
	In a filing with the Securities and Exchange Commission on Friday, Dimon, who has a million-dollar salary, said he had received nearly eight million dollars in JPMorgan Chase shares for 2009, with options on an additional 563,000 shares.</p>
<p>
	In 2007 Dimon received 28 million dollars in bonuses; he declined to take any compensation other than his salary in 2008.</p>{extended}]]></description>
      <dc:subject>Articles, Headline</dc:subject>
      <dc:date>2010-02-12T22:49:54+00:00</dc:date>
    </item>

    <item>
      <title>RNC Chairman Michael Steele Argues that a Million a Year “Is Not a Lot of Money”</title>
      <link>http://thevileplutocrat.com/bile/articles/rnc_chairman_michael_steele_argues_a_million_a_year_is_poverty/</link>
      <guid>http://thevileplutocrat.com/bile/articles/rnc_chairman_michael_steele_argues_a_million_a_year_is_poverty/#When:18:40:30Z</guid>
      <description><![CDATA[During a joint appearance with Harold Ford Jr. at the University of Arkansas at Little Rock, Mr. Steele attacked the President’s tax increases on the so-called wealthy suggesting that families earning a million dollars per year are near poverty stricken.<p>
	One has to wonder gap-jawed at the obliviousness of the Republican leadership and the outright stupidity of their constant insistence that huge gaps in income disparity are good for America. &nbsp;</p>
<blockquote>
	<p>
		<strong><em>&ldquo;Trust me,&rdquo;</em> Mr. Steele said, <em>&ldquo;after taxes, a million dollars is not a lot of money.</em>&rdquo;</strong></p>
</blockquote>
<p>
	He should know ... Mr. Steele is a bonafide millionaire who is suffering mightily under the weight of his fortune. While we do agree that he looks a bit pale for a plutocrat, we simply suggest that he loosen the collar on his $3000 custom-tailored suit to allow his gold-plated heart to pump blood to his malnourished brain. Oh, and treat yourself to a cookie Mr. Steele. Everyone, no matter what social class you belong to, deserves a cookie.</p>
<p>
	Who exactly is he talking to? The students at the University of Arkansas are not attending an Ivy League school. And, it&#39;s likely safe to argue that they don&#39;t all come from insanely wealthy families whose money has been used to grease palms in Washington since the founding of the country.</p>
<blockquote>
	<p>
		The average income in the United States of America is $50,000 per year, before taxes. &nbsp;Assuming the average tax liability is approximately 30%, the average American family lives on $35,000 per year.</p>
</blockquote>
<p>
	Michael Steele and the Republicans are arguing that President Obama&#39;s campaign to raise taxes on families earning over $250,000 will hurt average Americans.&nbsp; If the &quot;average&quot; American earns $50,000 dollars, the increase in taxes only affects the top 3% of the income-earning population.</p>
<p>
	During his lecture, Mr. Ford mistakingly believing he was speaking at Dartmouth, sarcastically asked, <em>&quot;Who in here makes a million dollars a year?&quot;</em>. According to reports, not a single student raised their hand. &nbsp;</p>
<p>
	Apparently, realizing the error in his ideologically out-of-touch argument, Steele immediately did an about face and tapped into his faux populist roots retorting,<em> &ldquo;How many of you want to make a million dollars a year?&rdquo;&nbsp;</em>&nbsp;Umm ... Everyone &hellip; You pandering, blathering, hypocritical, creepily elfin buffoon.</p>
<p>
	In Mr. Steele&#39;s world, and the Conservative&#39;s Pandora, a million dollars is pocket change.</p>
<blockquote>
	<p>
		Anyone with a calculator can figure out with a few button presses that a salary of $1 million dollars is 20 times the salary of the average American. &nbsp;</p>
</blockquote>
<p>
	Even if the tax rate for high income earners was established at 50%, and you were lucky enough to be earning $1 million per year, who wouldn&#39;t be &quot;OK&quot; with living on a half million dollars per year? &nbsp;</p>
<p>
	Mr. Robert Frank asks his readers a simple, absurd question to close out his article, <em>&quot;Do you think $1 million pretax income is &ldquo;a lot of money?&rdquo;</em></p>
<p>
	As a member of the &quot;great unwashed&quot; masses, allow me to confirm that&nbsp;<em>&quot;a million dollars is a shit-load of money.&quot;</em></p>{extended}]]></description>
      <dc:subject>Articles, Headline, Original Content</dc:subject>
      <dc:date>2010-02-07T18:40:30+00:00</dc:date>
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    <item>
      <title>Goldman Sachs CEO Blankfein gets stock&#45;based $9 million bonus</title>
      <link>http://thevileplutocrat.com/bile/articles/goldman_sachs_ceo_blankfein_gets_stock-based_9_million_bonus/</link>
      <guid>http://thevileplutocrat.com/bile/articles/goldman_sachs_ceo_blankfein_gets_stock-based_9_million_bonus/#When:18:26:54Z</guid>
      <description><![CDATA[Goldman Sachs said Friday that its chief executive, Lloyd Blankfein, received a stock-based bonus of $9 million in 2009<p>
	Goldman Sachs&nbsp;said Friday that its chief executive, Lloyd Blankfein, received a stock-based bonus of $9 million in 2009, ending weeks of speculation about how much the New York-based investment bank would dole out amid rising public anger over Wall Street pay.</p>
<div id="body_after_content_column">
	<p>
		The amount, although eye-popping by Main Street standards, is smaller than the stock-based bonuses his rivals received for 2009. On Friday,&nbsp;J.P. Morgan Chase&nbsp;said it would award $17 million to chief executive Jamie Dimon.</p>
	<p>
		In a regulatory filing, Goldman said Blankfein received restricted stock Friday worth just shy of $9 million based on the firm&#39;s closing share price of $154.16. Two years ago, Blankfein set an industry record by receiving a $68 million bonus, about a third of it in cash, after his firm made $11.6 billion. He took no bonus in 2008, when profits plunged during the financial crisis.</p>
	<p>
		For 2009, Goldman reported a record profit of $13.4 billion. The firm&#39;s $16.2 billion compensation pool for 2009, which includes pensions and other benefits, translates to nearly $500,000 an employee.</p>
	<p>
		Ever the populist, Blankfein turned down his 2008 bonus, a reported $43 million, due to &quot;poor job performance&quot; and simply accepted his $600,000.00 salary. In 2007,&nbsp;Blankfein set an industry record by receiving a $68 million bonus on top of his half million dollar per year salary.</p>
</div>{extended}]]></description>
      <dc:subject>Articles, Headline</dc:subject>
      <dc:date>2010-02-07T18:26:54+00:00</dc:date>
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    <item>
      <title>BAE Systems pays $450 million to settle bribery scandal charges</title>
      <link>http://thevileplutocrat.com/bile/articles/bae_systems_pays_450_million_to_settle_bribery_scandal_charges/</link>
      <guid>http://thevileplutocrat.com/bile/articles/bae_systems_pays_450_million_to_settle_bribery_scandal_charges/#When:18:13:02Z</guid>
      <description><![CDATA[The world's second-largest defense contractor, BAE Systems, agreed on Friday to pay nearly $450 million in penalties to settle U.S. and British charges related to a long-running bribery scandal.<p>
	The British company had been accused of making payments, amounting to hundreds of millions of dollars, to foreign authorities to illegally win defense contracts in countries such as Saudi Arabia and Hungary. The company agreed to pay $400 million in fines and to plead guilty to one count of conspiring to make deceptive statements -- about whether the firm had created an anti-corruption program -- to the U.S. government. The charge was filed with the U.S. District Court for the District of Columbia.</p>
<blockquote>
	<p>
		In a statement, Gary G. Grindler, acting U.S. deputy attorney general, said <em>&quot;the alleged illegal conduct undermined U.S. efforts to ensure that corruption has no place in international trade.&quot;</em></p>
</blockquote>{extended}]]></description>
      <dc:subject>Articles, Sub Headline</dc:subject>
      <dc:date>2010-02-07T18:13:02+00:00</dc:date>
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