The 411
The SeeingBlack.com 411
By the Red-Eye Crew, Compiled with Dispatches from DemocracyNow.org
Mar 20, 2008, 09:14

Reaction to Obama Speech on Race Fills the News
In his first speech extensively addressing the issue of race during his campaign, Sen. Barack Obama outlined the history and impact of racism in the United States and addressed comments by his former pastor, whose political views have brought national attention. Over the past week, Reverend Jeremiah Wright has been scrutinized in the media for linking the attacks of September 11 to U.S. foreign policy in the Middle East, and for saying that the country was founded on racism. On Tuesday, in a speech described as historic and eloquent, Obama said he disagrees with Wright on several issues but could not ignore their personal ties.

Sen. Barack Obama: “We have a choice in this country. We can accept a politics that breeds division, and conflict, and cynicism. We can tackle race only as spectacle - as we did in the OJ trial - or in the wake of tragedy, as we did in the aftermath of Katrina - or as fodder for the nightly news. We can play Reverend Wright's sermons on every channel, every day and talk about them from now until the election, and make the only question in this campaign whether or not the American people think that I somehow believe or sympathize with his most offensive words. We can pounce on some gaffe by a Hillary supporter as evidence that she's playing the race card, or we can speculate on whether white men will all flock to John McCain in the general election regardless of his policies.

We can do that.

But if we do, I can tell you that in the next election, we'll be talking about some other distraction. And then another one. And then another one. And nothing will change.

That is one option. Or, at this moment, in this election, we can come together and say, "Not this time." This time we want to talk about the crumbling schools that are stealing the future of Black children and white children and Asian children and Hispanic children and Native American children. This time we want to reject the cynicism that tells us that these kids can't learn; that those kids who don't look like us are somebody else's problem. The children of America are not those kids, they are our kids, and we will not let them fall behind in a 21st century economy. Not this time.”

Click here to read the entire speech.

Click here to watch video of the entire speech.

Go to the Between the Lines blog by Jackie Jones and post your comment.

Antiwar Events Nationwide Mark 5th Anniversary of Iraq Invasion
Hundreds of events around the United States are marking the fifth anniversary of the invasion and occupation of Iraq. Cities holding protests, sit-ins and other gatherings include Washington, D.C., New York, Louisville, Chicago, Dallas, Miami, Los Angeles and San Francisco. On Tuesday activists with the antiwar group Code Pink marched along Constitution Avenue in Washington, D.C., disrupting traffic. Here in New York, the musicians Lou Reed and Laurie Anderson headlined a sold-out concert raising money for United for Peace and Justice and Iraq Veterans Against the War.

Winter Soldier: US Vets, Active-Duty Soldiers from Iraq and Afghanistan Testify About the Horrors of War
US veterans gathered in Maryland this past weekend to testify at Winter Soldier, an eyewitness indictment of atrocities committed by US troops during the ongoing occupations in Iraq and Afghanistan. Soldiers spoke of free-fire zones, the shootings and beatings of innocent civilians, racism at the highest levels of the military, sexual harassment and assault within the military, and the torturing of prisoners.

Paterson Admits His Own Marital Infidelity
In New York, David Paterson has been sworn in as governor, replacing Eliot Spitzer. Paterson becomes New York’s first African American governor and the first blind governor in the country. During his speech Monday, Paterson made no mention of Spitzer.

David Paterson: “Let me tell you a little about myself. I was born in the borough of Brooklyn. I was educated on Long Island. Harlem is my home. This is where I learned love for family and appreciation for community. I have confronted the prejudice of race and challenged the issues of my own disability. I have served in government for over two decades. I stand willing and able to lead this state to a brighter future and a better tomorrow. Let me reintroduce myself. I am David Paterson, and I am the Governor of New York State.”

Paterson also admitted on his first day in office that he and his wife have had extramarital affairs. In an interview with Juan Gonzalez of the Daily News, Paterson and his wife acknowledged that they each had intimate relationships with others during a rocky period in their marriage several years ago.

Feds Criticized for Wall Street Bailout While Failing to Aid Homeowners
The Federal Reserve’s decision to bail out the investment bank Bear Stearns is coming under criticism from housing advocates who say the Bush administration has done too little to help homeowners facing foreclosure. Over the weekend, the Fed took extraordinary measures to help J.P. Morgan purchase Bear Stearns and save the nation’s fifth largest investment bank from collapse. As part of the deal, the Fed put up $30 billion to guarantee Bear Stearns riskiest investments. Jim Carr of the National Community Reinvestment Coalition said, “It’s almost stunning to witness the shoring up of a major financial institution, but not addressing the problem that the quality of housing assets is deteriorating with each minute we wait.”

The Wall Street Journal reports this marks one of the broadest expansions of the Fed’s lending authority since the 1930s. The fall of Bear Stearns has shocked the business community. JPMorgan bought the company for just $270 million. A year ago Bear Stearns was valued at $20 billion. As part of the deal, the Federal Reserve agreed to secure some of Bear Stearns’s mortgage investments. If the assets decline in value, the US taxpayer will bear the cost. The government-led bailout is the first of its kind since the Great Depression. In response to the bailout of Bear Stearns, stock markets in Asia and Europe tumbled. Meanwhile, the price of oil has jumped to a new all-time high: nearly $112 a barrel.

On Monday, reporters questioned White House Press Secretary Dana Perino about the bailout.

Reporter: “But people who are facing, say, foreclosures, individuals, the little guys who are facing their foreclosure, are looking at the big guys getting government, if not brokered, certainly they’re overseeing deals that are engineered to sort of keep the big picture financial community afloat, and they’re saying, well, where’s my boost of liquidity?”

Dana Perino: “They’re going to get that boost of liquidity in the form of a stimulus package and a tax rebate that’s coming to them the second week of May.”

Reporter: “But that’s not going to save their houses.”

President Bush praised the Federal Reserve’s actions.

President Bush: “One thing is for certain: we’re in challenging times. But another thing is for certain, that we’ve taken strong and decisive action. The Federal Reserve has moved quickly to bring order to the financial markets. Secretary Paulson has been—is supportive of that action, as am I. And I want to thank you, Mr. Secretary, for working over the weekend…”

Fear Grows Over Other Bank Collapses
Concern is also growing that other investment banks could face possible collapse. On Monday, shares in Lehman Brothers plunged 20 percent, its biggest-ever one-day fall. The Federal Reserve has reportedly urged other leading financial institutions to support Lehman Brothers in order to prevent a further economic crisis.

Market analyst James Hughes: “What the fears are, that the other banks which maybe haven’t written down so much, the fear is that they’re hiding these subprime mortgage issues, and maybe ‘hiding’ is the wrong word, but they’re putting them somewhere else, so we don’t necessarily get the whole picture. But, unfortunately, these things will come out, and that is the fear, that there’s going to be yet more writedowns and more problems coming along. And, of course, Bear Sterns is now turning into the US’s Northern Rock at the moment, and of course the fears are that there’s more going to go that way.”

Carlyle Capital Private Equity Firm Collapses
In other economic news, shareholders of a private equity firm connected to the Carlyle Group has voted to shut down the firm, Carlyle Capital, after the value of the fund collapsed.

Greenspan: Economic Crisis Could Be Worst Since WWII
Meanwhile, Alan Greenspan, the former chair of the Federal Reserve, said the current economic crisis is “likely to be judged in retrospect as the most wrenching since the end of the Second World War."

Bush on the Economy: I Am an “Optimistic Fellow”
While more than 70 percent of economists now believe the nation is in a recession, President Bush continues to insist the foundation of the economy is solid. He spoke on Friday at the Economic Club of New York.

President Bush: “I’m coming to you as an optimistic fellow. I’ve seen what happens when America deals with difficulty. I believe that we’re a resilient economy, and I believe that the ingenuity and resolve of the American people is what helps us deal with these issues, and it’s going to happen again.”

Also on Friday, Treasury Secretary Henry Paulson defended the Federal Reserve’s efforts to bail out Bear Stearns.
Henry Paulson: “I think we made the right decision. I think the Federal Reserve made the right decision here. And again, I don’t know what to say other than what I’ve just said, is we’ve got strong financial institutions. Our markets are the envy of the world. They’re resilient, they’re innovative, they’re flexible. I think we move very quickly to address situations in this country.”

Food Prices Continue to Rise
In other economic developments, new government statistics confirm what many grocery store shoppers already know: food prices are soaring. In the past year, the price of milk has risen 17 percent. Rice, pasta and bread prices have jumped over 12 percent. And the price of eggs has risen by 25 percent. It is the highest grocery inflation since the early 1990s.

Jailed Immigrant Left in Cell for 4 Days
And in Arkansas, police are blaming an oversight for leaving a jailed undocumented immigrant without food, water or a toilet for four days. Adriana Torres-Flores spent ninety-six hours in an eight-by-nine-foot cell beginning last Thursday. A mother of three, Torres-Flores had been arrested for selling pirated CDs. She was forgotten in a holding cell after she pleaded not guilty. She slept on the floor, using her shoe for a pillow and having nothing to drink but her own urine. Washington County Sheriff Tim Helder said the episode would lead to changes at the jail.

Washington County Sheriff Tim Helder: “We’ve got to put in some stop-gap measures to make sure that, OK, if a guy forgets, what’s going to remind him that somebody’s in there? You know, do we monitor with a camera? Do we put a light out in the hallway that indicates there’s occupancy? It’s sad to say, but it takes an incident sometimes to alert you to shortcomings in what you’re doing. And, obviously, this has opened our eyes, and we’re committed to fixing it.”

Georgia Supreme Court Rejects New Trial for Troy Davis
There has been a major development in the case of death row prisoner Troy Davis. On Monday, the Georgia Supreme Court refused to reopen his case and to allow him to present new evidence of his innocence. In 1991, Davis was convicted of murdering a white police officer, but since then many questions have been raised about his case. The murder weapon was never found. There’s no DNA evidence or other physical evidence. Seven of the nine non-police witnesses said they were coerced by police and have since recanted their testimony.

Justices Appear to Favor Overturning DC Handgun Ban
The Supreme Court has signaled it’s prepared to overturn a handgun ban in Washington, D.C. On Tuesday, a majority of court justices appeared to lean towards ruling the Second Amendment provides individuals the right to own a handgun for self-defense. Washington, D.C. Mayor Adrian Fenty warned against repealing the handgun ban.
Washington, D.C. Mayor Adrian Fenty: “As the Mayor of the District of Columbia, more guns anywhere in the District of Columbia is going to lead to more crime, and that is why we stand so steadfastly against any repeal of our handgun ban.”

The Supreme Court will rule on the case before adjourning in June.


International
British Court Overturns Venezuela Asset Freeze
In Britain, the Venezuelan government has scored a victory in its legal dispute with the oil giant ExxonMobil. On Tuesday, a British court overturned a ruling freezing $12 billion in Venezuelan assets. Exxon had won the freeze as part of an attempt to recoup an investment in a nationalized Venezuelan oil project. But Venezuela says Exxon is trying to recover more than ten times what its investment was actually worth. In Caracas, Venezuela oil minister Rafael Ramirez hailed the ruling as a vindication.
Venezuela oil minister Rafael Ramirez: “Exxon intended to manipulate and lie to that court, and the court has responded in a very serious manner and has put Exxon in its place. It is a lesson for transnational businesses—Exxon Mobil, in particular—who tried to be above the law."
Venezuela and Exxon remain in arbitration over the dispute.

Poll: Two-Thirds of Iraqis Say US Should Leave
A new survey has found that more than two-thirds of Iraqis believe US-led coalition forces should leave. A quarter of those surveyed said they had lost a family member to murder since the war began.

Bush “A Little Envious” of US Troops in Afghanistan
President Bush told US troops in Afghanistan that he was “a little envious” of them. In a video conference last week, Bush said, “If I were slightly younger and not employed here, I think it would be a fantastic experience to be on the front lines of helping this young democracy succeed.” Bush went on to say, “It must be exciting for you … in some ways romantic, in some ways, you know, confronting danger. You’re really making history. And thanks.”


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