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Written by Richard R. Oswald
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Wednesday, 30 January 2008 |
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John Edwards will reportedly announce in New Orleans today that he is dropping out of
the Democratic side of the Presidential contest.
While corporate owned networks generally panned his
anti-corporate tirades, some of us appreciated hearing a politician state the
obvious. After Xerox, regulators proclaimed Never again. And after the S&L scandal, regulators proclaimed never again. And after Arthur
Anderson, regulators proclaimed Never again. And after Enron, regulators
proclaimed Never again. And after AOL
Time Warner, regulators proclaimed Never again. And after sub-prime
mortgages, regulators proclaimed Never again. About all that changed was that infractions
simply got bigger along with the national debt and free trade agreements.
So far the only thing to decline has been the US dollar.
Upon hearing John Edwards repeatedly call out Never again,
some of us hoped that someday, never again might really come to pass. We hoped that Packers and Stockyards might be enforced. We hoped that free
trade job loss might be replaced with fair trade job gains. We hoped that
saner minds would decide that unregulated, unsafe imported food and drugs might
be stopped at the border.
So the big question now is who will Edwards endorse? Will
his fair trade, jobs, common man platform be judged in the corporate newsroom
as boon, or bane, to the hopeful candidate he endorses?
Last but not least, will someday ever come?
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In the news
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Today, the Labor Department reported the economy lost 84,000 payroll jobs in August, after losing 60,000 jobs in July. This was much worse than was expected, as the full weight of banking crisis, rising oil prices and imports from China drive up unemployment.
Unemployment rose to 6.1 percent from 5.7 percent in July. Factoring in discouraged workers, unemployment is closer to 7.7 percent.
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