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Stock buybacks were illegal until 1982. Thanks Reagan!
Sorry about suffocating your entire community under a toxic, burning mushroom cloud. Here's $5. We good?
- Thread starter fooferdoggie
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Stock buybacks were illegal until 1982. Thanks Reagan!
Norfolk Southern Stock Buybacks (Quarterly)
In depth view into Norfolk Southern Stock Buybacks (Quarterly) including historical data from 1982, charts and stats.
ycharts.com
The industry as a whole has done an ungodly amount of buybacks since the Recession. I think the number is close to $200 Billion today…
More people need to understand this. It should be shouted from every rooftop.
Unfortunately reversing course would likely tank the house of cards that we call the economy. The foundation is built firmly on fraud, wage theft, and financial manipulations that have no real world tangibles.
Again, thanks Reagan/Thatcher for setting the world on this course, and fuck every administration since for building this Jenga tower ever higher…
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I think the lower and (disappearing) middle classes agree on a lot of these causes and issues. The big hurdle is one side is way too easily pointed in the wrong direction. Does the left have an equivalent to the border wall?
There’s just so much of this that is baffling. And it’s shocking that now 2 weeks later the White House is finally starting to comment despite their claims of environmental protections as a key focus in just about everything they talk about. There’s a lot of blame to go around about allowing a situation like this to to happen which is not irrelevant, but the most important thing at the moment is honestly assessing and cleaning up this mess, and keeping people informed.
Unfortunately these types of subpar responses are not uncommon and the common thread appears to be class. If this was Greenwich, Connecticut with a median property value of $2m I suspect there would be a very different response. But whether it’s city of underprivileged black folks or a small town of perceived country bumpkins then the attention is just not there. Especially when on the other side it’s a multibillion dollar company.
You’d think given this is a such a small town, the government would want to make it look like they know what they are doing.
If I lived in/near this town, I would hire a 3rd party (either personally or with donations/taxes) to hire an independent assessment of the water and air. I would also think that in that the chemicals have seeped into the ground and water, it may take time for them to show up in other areas. Hopefully someone with proper background has donated their services or some law firm is already on this. And it shouldn’t stop with testing the air and water. How about testing some of the dead livestock that has been popping up? They are effectively the canaries in the coal mines.
The “left” doesn’t even have an actual Left in this country. The Red Scare and CointelPro saw to that.
By definition you can’t support Capitalism/(Economic) Imperialism and be on the historical Left.
So no unfortunately. Bernie is as far “left” as you can possibly go here and he’d be center/center right in the rest of the world.
Yoused
up
Honestly, you need to put "capitalism" in quotes. Possibly, actual capitalism would work better than this shit. We need to push to get it renamed "Oligarchism", because that it exactly what it is. Or, my construction, "feudocapitalism".
I get what you’re saying, but Capitalism brought to its logical conclusion (unfettered by regulation) just *leads* to concentration of wealth and power.
It’s not a bug, it’s a feature. The very fact that it REQUIRES regulation to prevent things like child labor or REQUIRES a minimum wage (which is insultingly low) is what lays out plainly that Capitalism is a monstrous system that requires containment to prevent the abuse of humans who live under it.
But it’s not restrained in any meaningful ways in the 21st century…
They also seem to be getting more brazen about “this is just how it is”. Take a look at this section of CNN, in what sane world would this not be a dark satire?
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Resident in East Palestine asked to sign 'hold harmless' form
In East Palestine, Ohio, some residents say they are being asked to sign contracts they fear could prevent them from suing later on.
www.newsnationnow.com
Norfolk Southern is apparently sending people around from an independent company to test properties for contamination (allegedly by EPA officials)… in exchange for signing an indemnification waiver absolving NS of any responsibility of harm. Norfolk Southern claims this was an accident.
Very disturbing.
That's horrible. I hope nobody signs it, but I'm sure some people will because they have no other way of knowing if their property has been contaminated, ignoring the fact that it can show up much later. And even if it was an accident, that doesn't absolve NS of responsibility.Resident in East Palestine asked to sign 'hold harmless' form
In East Palestine, Ohio, some residents say they are being asked to sign contracts they fear could prevent them from suing later on.
Norfolk Southern is apparently sending people around from an independent company to test properties for contamination (allegedly by EPA officials)… in exchange for signing an indemnification waiver absolving NS of any responsibility of harm. Norfolk Southern claims this was an accident.
Very disturbing.
Yoused
up
Well, if you got rid of all regulation, there would be no copyrights, patents, deeds of title or contract enforcement. The glibertarians want us to consider those things are an inseverable part of capitalism, when really, they are not. Deregulate away abstract ownership rights and you have a really hard time building a viable empire. Then, yank away all the subsidy substructure and see how far that gets you.
I meant unfettered as it currently stands, little to no action in regards to things that actually hurt people. The very thread we speak in being a great example.
Things like IP rights and patents are great wealth extraction tools *for* Capitalists though!
Very par for the course I’m afraid. Usually these things don’t get reported on but this kind of shady shit is an entire cottage industry in getting corporations off the hook with plausible deniability because it’s not directly them.Resident in East Palestine asked to sign 'hold harmless' form
In East Palestine, Ohio, some residents say they are being asked to sign contracts they fear could prevent them from suing later on.
Norfolk Southern is apparently sending people around from an independent company to test properties for contamination (allegedly by EPA officials)… in exchange for signing an indemnification waiver absolving NS of any responsibility of harm. Norfolk Southern claims this was an accident.
Very disturbing.
Toxic Sludge Is Good For You is a great fury read: https://www.goodreads.com/en/book/show/659246
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The Washington Post is kicking into higher gear now with regard to this story, and there are two articles in today's WP about East Palestine.... Some residents/property owners are still sticking around, and in a few situations they've been lifelong residents of the town and I can see how it would feel nearly impossible to have to leave, but they are risking their own and their family members' health by doing so. It's a terrible situation.
mac_in_tosh
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Or corporatism.
it appears that now that this issue has received enough attention, the federal government will be sending FEMA to aid those affected.
I’m curious to know what this FEMA aid actually entails in this particular situation other than perhaps providing clean water, rehousing to anyone that might need it (it’s not clear how many people are actually forced to stay out of their homes), and perhaps provide financial assistance to those whose income streams were disrupted (again, not clear how many people that is).
I am 100% for aiding neighbors and communities in need directly and through taxes, but in this case why are we the taxpayers footing the bill on this when there is clearly a responsible party with seemingly plenty of resources. It’s not like this is Joe’s owner-operator trucking business spilled chemicals, NS is a multibillion dollar company. If this streamlines the process of helping people l, I’m all for it, but I just hope FEMA sends an invoice to NS for all the services rendered. I guess my question is at this point what is FEMA going to do and why isn’t NS being pressured by the government to provide assistance?
Especially when you consider the 1 mile radius evacuation order (affecting 2000 residents, allegedly) was lifted after 5 days. It seems like the time to have federal emergency aid resources was immediately after the disaster, not 2 weeks later. Seems like it’s more for show at this point.
I just don’t understand why the government (local, state, federal) more often than not so bad at responding to crises- especially when you have entire offices and agencies whose sole job is to deal with these types of things. I don’t think it’s unreasonable to expect better.
You’d think NS would want to be well into a PR campaign of goodwill considering the potential repercussions, not limited to getting the $*** regulated out of them. But evidently they don’t seem very concerned about that.
I’m curious to know what this FEMA aid actually entails in this particular situation other than perhaps providing clean water, rehousing to anyone that might need it (it’s not clear how many people are actually forced to stay out of their homes), and perhaps provide financial assistance to those whose income streams were disrupted (again, not clear how many people that is).
I am 100% for aiding neighbors and communities in need directly and through taxes, but in this case why are we the taxpayers footing the bill on this when there is clearly a responsible party with seemingly plenty of resources. It’s not like this is Joe’s owner-operator trucking business spilled chemicals, NS is a multibillion dollar company. If this streamlines the process of helping people l, I’m all for it, but I just hope FEMA sends an invoice to NS for all the services rendered. I guess my question is at this point what is FEMA going to do and why isn’t NS being pressured by the government to provide assistance?
Especially when you consider the 1 mile radius evacuation order (affecting 2000 residents, allegedly) was lifted after 5 days. It seems like the time to have federal emergency aid resources was immediately after the disaster, not 2 weeks later. Seems like it’s more for show at this point.
I just don’t understand why the government (local, state, federal) more often than not so bad at responding to crises- especially when you have entire offices and agencies whose sole job is to deal with these types of things. I don’t think it’s unreasonable to expect better.
You’d think NS would want to be well into a PR campaign of goodwill considering the potential repercussions, not limited to getting the $*** regulated out of them. But evidently they don’t seem very concerned about that.
Yoused
up
As if a toxic mushroom cloud was not bad enough,
news.yahoo.com
Trump to visit East Palestine in wake of train derailment
Former President Trump plans to visit the town of East Palestine, Ohio, where a train derailment led to the release of toxic chemicals, next week. Trump posted on Truth Social in response to a report that he was planning to make the trip that the residents of East Palestine are “Great people who...
mac_in_tosh
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What they will probably do is send a team of lobbyists with suitcases of money to Washington to fend off any penalties and new regulations.
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another toxic cloud will visit them? poor people.As if a toxic mushroom cloud was not bad enough,
Trump to visit East Palestine in wake of train derailment
Former President Trump plans to visit the town of East Palestine, Ohio, where a train derailment led to the release of toxic chemicals, next week. Trump posted on Truth Social in response to a report that he was planning to make the trip that the residents of East Palestine are “Great people who...
mac_in_tosh
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Maybe he'll donate a large sum of money to the victims of this tragedy...NOTAs if a toxic mushroom cloud was not bad enough,
Trump to visit East Palestine in wake of train derailment
Former President Trump plans to visit the town of East Palestine, Ohio, where a train derailment led to the release of toxic chemicals, next week. Trump posted on Truth Social in response to a report that he was planning to make the trip that the residents of East Palestine are “Great people who...
The irony is that tRump couldn't care less about these people. In fact his administration revoked some Obama administration railway safety regulations. They might not have averted this accident but could help in other situations.