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From Cover-up to Bailout

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It has been one year since the earthquake and tsunami which caused the Fukushima nuclear power plant catastrophe.  From the very beginning (March 14, 2011) I suspected a cover-up:

Since the Fukushima nuclear crisis began, we were given spotty, uninformative reports about the extent of the damage to the critical equipment, despite assurances that the “reactor vessels remain intact”.

Throughout the year following the Fukushima disaster, there has been an unending series of accounts concerning efforts by the plant operator, Tepco, as well as by governmental officials to cover-up the true extent of this tragedy.  The hazardous radiation levels to which local residents were subjected, have become the focus of the most recent news reports exposing cover-up tactics.  Asia Times correspondent Pepe Escobar was recently interviewed for Russia Today.  Escobar reported that Fukushima officials concealed radiation data vital to safely evacuate people from that area.  This was accomplished by the deletion of e-mails detailing the spread of radiation.  An unidentified official (or several officials) from Fukushima prefecture should face responsibility for the loss of that data.  At one point during the interview, Escobar remarked that the situation “sounds and looks and quacks like a major cover-up”.  He expects that ultimately, “a low-level official” will take the fall for this transgression, with no consequences other than a generous severance package.

The Mainichi Daily News report on this suspicious situation revealed that officials from Fukushima prefecture deleted five days of early radiation dispersion data.  In typical bureaucratic fashion, Fukushima prefecture officials claimed that “it was the responsibility of the central government to release the data”.

The obfuscation tactics employed by the plant operator, Tepco, have been apparent since the onset of this disaster.  Nevertheless, Tepco continues to “play dumb”.  In a March 28 report by Karen Sloan of the Associated Press, Tepco characterized the situation with the explanation that “conditions could be worse than officials had pictured”.  The report pointed out that there are “fatally–high radiation levels” at the #2 reactor with less water than anticipated available  for cooling the reactor.  The damage is so severe that Tepco will need to “develop special equipment and technology” to decommission the plant.  Worse yet, the other reactors which experienced meltdowns “could be in worse shape”.  You can watch the video version of Karen Sloan’s report here.  As for those “fatally–high radiation levels”, Anne Sewell of the Digital Journal pointed out that measurements revealed those levels to be “up to 10 times the lethal dose”.  Beyond that, Ms. Sewell didn’t hesitate to remind her readers of the continuing problems encountered by those who have reported on this crisis:

Japanese authorities and Tepco representatives have been caught lying about the true situation at Fukushima on numerous occasions, which adds to the overwhelming stress on the residents.

First-hand accounts of the situation in Fukushima prefecture are provided by blogger Lori Mochizuki and her cohorts at the Fukushima Diary website.  Their motto appears on the masthead of the site:  “We are against the media blackout – Please support us so that we may inform the world.”

Those interested in keeping-up with the slow trickle of truth about this tragedy can follow the Fukushima Update website.   Arnie Gundersen, Chief Engineer of Fairewinds Associates, is another source who provides regular updates on Fukushima.

As we have witnessed in the aftermath of the financial crisis, those entities responsible for the world’s worst disasters always find themselves rewarded with taxpayer-funded bailouts.  The Fukushima nuclear catastrophe is yet another example of this principle.  On March 29, Kentaro Hamada of Reuters reported that Tepco has asked the Japanese government for a $12.6 billion taxpayer-funded bailout.  (This amounts to 1 trillion yen.)  This amount would be in addition to the 850 billion yen which Tepco requested from the government in order to provide victim compensation.  That’s right – a free $10.7 billion insurance policy!  Is that coverage available to other companies?  I’m afraid to ask!  Nevertheless, some Japanese officials insist that the indemnity should come at a price – as the Reuters article explained:

The government is keen to obtain an initial majority stake in Tepco in return for the fund injection, with an option to boost the stake to two-thirds if the firm drags its feet on corporate reforms.  A final decision, however, would have to wait until the company finds a new chairman, a second source with knowledge of the matter said.

*   *   *

Trade Minister Yukio Edano, who is responsible for approving a public fund injection, has said he wants the government to have a significant say in managing Tepco, but the two sides have differed over how big the government stake should be.

Moral hazard and nuclear radiation hazard make such a wonderful combination!


 

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Our Sham Two-Party System

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It’s becoming more obvious to people that our so-called, “two-party system” is really a just a one-party system.  Last summer, I discussed how the Republi-cratic Corporatist Party is determined to steal the money American workers have paid into the Social Security program.  While we’re on the subject, let’s take a look at an inconvenient law which the Beltway Vultures choose to ignore:

EXCLUSION OF SOCIAL SECURITY FROM ALL BUDGETS Pub. L. 101-508, title XIII, Sec. 13301(a), Nov. 5, 1990, 104 Stat. 1388-623, provided that:  Notwithstanding any other provision of law, the receipts and disbursements of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund shall not be counted as new budget authority, outlays, receipts, or deficit or surplus for purposes of – (1) the budget of the United States Government as submitted by the President, (2) the congressional budget, or (3) the Balanced Budget and Emergency Deficit Control Act of 1985.

In a recent interview conducted by Anastasia Churkina of Russia Today, investigative reporter and author, Matt Taibbi described the American political system as a “reality show sponsored by Wall Street”.  Taibbi pointed out that “… the problem is Wall Street heavily sponsors both the Republican and the Democratic Parties” so that whoever gets elected President “is going to be a creature of Wall Street”.  After noting that Goldman Sachs was Obama’s number one source of private campaign contributions during the 2008 election cycle, Taibbi faced a question about the possibility that a third party could become a significant factor in American politics.  His response was:  “Seriously, I don’t see it.”  Taibbi went on to express his belief that the “average American” is:

… seduced and mesmerized by this phony, media-created, division between blue and red – and left and right, Democrats and Republicans, and people are conditioned to believe that there are enormous, profound differences between these two parties.  Whereas, the reality is:  their differences are mostly superficial and on the important questions of how the economy is run and how to regulate the economy – they’re exactly the same – but I don’t think ordinary people know that.

At this point, the question is whether there can be any hope that “ordinary people” will ever realize that our “two-party system” is actually a farce.

The type of disappointment expressed by Matt Taibbi in his discussion of Barack Obama during the Russia Today interview, has become a familiar subject.  I was motivated to characterize the new President as “Disappointer-In-Chief” during his third month in office.  An increasing number of commentators have begun to admit that Hillary Clinton’s campaign-theme question, “Who is Barack Obama?” was never really answered until after the man took office.  One person who got an answer “the hard way” was Professor Cornel West of Princeton University.

In a recent article for Truthdig, Chris Hedges discussed how Professor West made 65 appearances for Candidate Obama on the campaign trail.  Nevertheless, Professor West never received an invitation to Obama’s Inaugural.  Although he traveled to Washington for that historic occasion, Professor West ended up watching the event on a hotel room television with his family.  As an adversary of Obama’s financial mentor, Larry Summers, Professor West quickly found himself thrown under the bus.

The following passage from Chris Hedges’ article presents an interesting narrative by Professor West about what I have previously described as Obama’s own “Tora Bora moment” (when the President “punted” on the economic stimulus bill).  Professor West also lamented the failure of the Democrats to provide any alternative to the bipartisan tradition of crony corporatism:

“Can you imagine if Barack Obama had taken office and deliberately educated and taught the American people about the nature of the financial catastrophe and what greed was really taking place?” West asks.  “If he had told us what kind of mechanisms of accountability needed to be in place, if he had focused on homeowners rather than investment banks for bailouts and engaged in massive job creation he could have nipped in the bud the right-wing populism of the tea party folk. The tea party folk are right when they say the government is corrupt.  It is corrupt.  Big business and banks have taken over government and corrupted it in deep ways.

“We have got to attempt to tell the truth, and that truth is painful,” he says.  “It is a truth that is against the thick lies of the mainstream.  In telling that truth we become so maladjusted to the prevailing injustice that the Democratic Party, more and more, is not just milquetoast and spineless, as it was before, but thoroughly complicitous with some of the worst things in the American empire.  I don’t think in good conscience I could tell anybody to vote for Obama.  If it turns out in the end that we have a crypto-fascist movement and the only thing standing between us and fascism is Barack Obama, then we have to put our foot on the brake.  But we’ve got to think seriously of third-party candidates, third formations, third parties.

When one considers the vast number of disillusioned Obama supporters along with the number of people expressing their disappointment with the Republican field of Presidential hopefuls, the idea that 2012 could be the year when a third-party candidate makes it to the White House doesn’t seem so far-fetched.


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