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Intro: "Barack Obama recently issued an executive order imposing a wave of sanctions against Libya, not only freezing Libyan assets, but barring Americans from having business dealings with Libyan banks. So raise your hand if you knew that the United States has been extending billions of dollars in aid to Qaddafi and to the Central Bank of Libya, through a Libyan-owned subsidiary bank operating out of Bahrain. And raise your hand if you knew that, just a week or so after Obama's executive order, the US Treasury Department quietly issued an order exempting this and other Libyan-owned banks to continue operating without sanction."

Muammar Qaddafi attends the opening of the Arab Summit, 03/29/08. (photo: Salah Malkawi/Getty Images)
Muammar Qaddafi attends the opening of the Arab Summit, 03/29/08. (photo: Salah Malkawi/Getty Images)

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RSN Special Coverage: Egypt's Struggle for Democracy

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Comments   

We are concerned about a recent drift towards vitriol in the RSN Reader comments section. There is a fine line between moderation and censorship. No one likes a harsh or confrontational forum atmosphere. At the same time everyone wants to be able to express themselves freely. We'll start by encouraging good judgment. If that doesn't work we'll have to ramp up the moderation.

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+8 # Activista 2011-04-04 10:04
Somebody has to give arms and train "rebels" to get US/Bahrain Libyan OIL - and cut taxes of the RICH in US.
VIVA OBAMA.
 
 
0 # DaveW 2011-04-04 23:34
Activista, Americans should really get used to the term "hoodwinked." We've basically got a "hood" in the White House which is a ironic play on words since "folks" in hoods used to get their kicks stringing up guys who looked like our President. And we've got a narcissistic "winker" waiting in the wings to replace him. At the age of 54, no politician has so thoroughly "hoodwinked" me as Barack Obama. At least we can attribute Palin's faults to utter stupidity, blind avarice and caribou fueled ambition. But what of Obama? And why? If there is indeed some sort of "hereafter" I can't possibly imagine the reception Obama will receive by MLK, W.E.B. Dubois, Frederick Douglas, Harriet Tubman, Ida B. Wells, A. Phillip Randolph, Marcus Garvey, Langston Hughes, Shirley Chisholm, Sojurner Truth, Malcolm X and millions of other dark faces who linger in the shadowy recesses of eternity asking...WHY?
 
 
+1 # DaveW 2011-04-05 10:33
The "truly" brilliant and inspirational people I mentioned in my post WOULD, and perhaps ARE, truly befuddled (and saddened) in watching the daily mechanizations of our first Black President. They wouldn't have "sold out" no matter the price, on any number of issues this President has and continues to do. My response from the "enlightened, altruistic and champions of social justice" on RSN has been NEGATIVE. Anybody out there understand the connotation associated with the word "poser."
 
 
0 # DaveW 2011-04-05 10:35
I suggest you all read Chris Hedges current article on Truthdig or RSN. Obama IS part of the problem!
 
 
-1 # Gary Ray Pierson 2011-04-06 11:04
Dave, you mentioned Huges. I was born in the same town as he. Your 54, my little brothers age.Maybe you can relate to this,don't know..Negro Speaks of Rivers
I've known rivers:
I've known rivers ancient as the world and older than the
flow of human blood in human rivers

My soul has grown deep like the rivers.

I bathed in the Euphrates when dawns were young
I built my hut near the Congo and it lulled me to sleep.
I looked upon the Nile and raised the pyramids above it.
I heard the singing of the Mississippi when Abe Lincoln
went down to New Orleans, and I've seen its muddy
bosom turn all golden in the sunset

I've known rivers:
Ancient, dusky rivers.

My soul has grown deep like the rivers.
 
 
+12 # fredboy 2011-04-04 11:22
Just curious, are we also knocking off all loans and credit to all nations that suppress their people?

And have we finally got a fix on who the "rebels" are? Or are we just guessing?

Is the press even aware now, or are Palin, Charlie Sheen and GOP anti-everyone antics hogging all the ink?
 
 
+5 # Mark Osman 2011-04-04 12:00
Glenn Beck and his facts?...How about the fact that he doesn't believe that we have gold in Fort Knox...What is he trying to spin?
 
 
+7 # James Kittle 2011-04-04 12:11
But Matt, I see the posting date here is April first. So this is just a joke, right? Tell me this is just a joke.
 
 
+9 # Glen 2011-04-04 12:12
Ron Paul has been right all along: it's too late for any turn around. Better prepare for the future and expect little as a U.S. citizen.

Fredboy, you are correct - the only in depth reporting concerns the neurotic lives of entertainment characters. That rather than the psychotic actions of the U.S. government.
 
 
+2 # angelfish 2011-04-04 12:40
Americans are DROWNING in debt induced by the Bailout of Wall Street and Bush/Cheney's greed and incompetence. THOSE greedy B-----ds continue to count coupons and rack up their Billions while poor working stiffs are thrown out of their homes and lose their jobs. Bernie Sanders is one of the FEW Americans, Michael Moore, Keith Olbermann, Rachel Maddow, Ed Schultz, Lawrence O'Donnell, and Matt Taibbi among them, who continue to speak the AWFUL truth to Power! As our Sack Lunch, breakfast and dinner is being eaten by these "Me First-ers" ALL of America is FINALLY becoming aware of the fact that something is STINKING in Washington! THEY own our SCOTUS, our Congress, what USED to be our FREE Press and most of the real estate, leaving J.Q. Public with damned little else! Americans! Your POWER is in your VOTE! Remember who it is that is turning this Country into a "Third World Gulag" and Vote them OUT in 2012! The RECALL is beginning in Wisconsin and other abused and mismanaged States. We WIIL return our Government to Sanity and Reason! I await Matt's forth-coming articles on who else is on the "Gravy Train" at OUR expense!
 
 
+10 # lnason@umassd.edu 2011-04-04 13:35
Taibbi asks a good question. The reason the fed baileded out Libya is because they were required to do it by law. The Libyan bank was doing some business in the US and that it made it eligible for the bailout.

Early reports indicate that 70% of the borrowing at the Fed's discount window during the most hectic week of the crash was done by foreign banks -- French, Chinese, Japanese, etc.

As American taxpayers become more aware of this situation, they will hopefully become enraged enough to demand a full audit and a gradual elimination of the fed.

Lee Nason
New Bedford, Massachusetts
 
 
+5 # racetoinfinity 2011-04-04 15:31
The Fed needs to go sooner than later!
 
 
+2 # Gary Ray Pierson 2011-04-04 19:26
Quoting lnason@umassd.edu:
Taibbi asks a good question. The reason the fed baileded out Libya is because they were required to do it by law. The Libyan bank was doing some business in the US and that it made it eligible for the bailout.

Early reports indicate that 70% of the borrowing at the Fed's discount window during the most hectic week of the crash was done by foreign banks -- French, Chinese, Japanese, etc.

As American taxpayers become more aware of this situation, they will hopefully become enraged enough to demand a full audit and a gradual elimination of the fed.

Lee Nason
New Bedford, Massachusetts

Lee, you got a lot of thumbs up.. Some times I don't think people understand your logic. Maybe it's because you explain in logical terms, the whole deal.. I don't know.. But, do you think the FED RESERVE, would loan some money to RSN? The same deal that Godlman-Sachs got? HEY FEDS, DONATE SOME CASH TO RSN. Your worthless if ya don't. I use to do a lot of art work and printing. I was always amazed at the taste most Americans have. And I'm still confused.. They liked what? It's crap! Why do they like that? Help out RSN folks and good one Lee, no crap here.. Cpl. Pierson, 101st Airborne,Vietna m..
 
 
+4 # Rob Clark 2011-04-04 14:28
Maybe those mortgage-backed securities had to be repurchased or risk the complete meltdown of the world economy? Shhhh...., let them finish before we revolt, or billions could starve...
 
 
+2 # jon thogmartin 2011-04-04 14:28
matt, you are showing your ignorance of what happened 10 years ago. i suggest you start reading.
 
 
+8 # fredboy 2011-04-04 14:39
Lee, good thinking.

Unfortunately, most Americans these days are afraid of their shadows and dare not speak up about anything. Obedience is king as the lemmings march toward the cliff...
 
 
+6 # in deo veritas 2011-04-04 15:19
There is no reason for the Fed to continue to exist. Its reckless and shady dealings have destroyed its usefulness and our country. All those who have had anything to do with the bailouts deserves pun ishmenmt, but I would hate to see my tax dollars pay for the continuamce of their rotten lives. Treat them as guilty of treason and follow the traditional punishment.
 
 
+4 # in deo veritas 2011-04-04 15:20
Rather than have to bail these overseas thieves out, just ban them from doing business in this country-all of them! We have enough crooks in this country we don't need more.
 
 
+3 # soularddave 2011-04-04 16:31
Matt, You're deep into this now, and we're right here with you. You've headed into dangerous territory, and along with others like Russ Baker (WhoWhatWhy.com ) are providing the details with which we can make good judgements as to how our train came off the tracks, and how it may be impossible to get it moving into a proper future.
 
 
+4 # craferr 2011-04-04 16:54
see articles by Pepe Escobar at Asia Times Online, "There's No Business Like War Business", under "the rebels
http://www.atimes.com/atimes/Middle_East/MC30Ak01.html In it, House of Saud, CIA, and French intel have been instigating, arming, supplying, paying, financing the "rebels" to overthrow the Libyian government. By loaning money to Libya, Libya has assets and a debt to US/NATO countries. The money in Lybian accounts has been freed by NATO banks for "rebel" use, so Libyian money is being used by NATO countries to establish a "revolution" against the Libyan government by "rebels paid by NATO. NATO has used Libyian money to attack Libya, and Libya still has a debt to NATO. Moreover NATO has suckered the UN into giving a mandate to NATO to militarily support the NATO sponsored rebels. Presumably, after NATO has destroyed the Libyian government they will then double dip and sucker the UN into paying for the UN mandated NATO military activities with additional money taken from the Libian government. NATO will then infinitely dip by taking over the enormous Libyian oil and and water projects indefinitely.
If the UN does'nt discover or care that theyve been hoodwinked, the operation will be an amazing success for big business in NATO countries, and a disaster for the Libyians.
Isnt globalization great when your're one of the group ?
 
 
+6 # stonecutter 2011-04-04 16:56
There is no system of real sanctions, no system of financial regulation, no accountability whatsoever for any crimes systematically committed by various players in the 2008 financial meltdown and subsequent economic depression, no one has been indicted, no one has been prosecuted.

Sanders can write 100 letters to Bernanke, Geithner, or Hopalong Cassidy, it does no good, assuming anyone responds at all, let alone with anything other than obfuscatory lies. The entire system is rigged, not broken...rigged .

95% of regulators in any area of our government are toothless and useless. The other 5% who may actually care about what they are supposed to regulate are clueless and powerless. When someone like Elizabeth Warren comes along, with an apparent mandate to actually protect consumers, she is buried in an avalanche of delay, chicanery and duplicity, including non-support from Mr. "Change You Can Believe In". We are dead in the water. with a few souls out front in a skiff rowing their arms off, and going nowhere fast. Really, who gives a shit about Libya, or Charlie Sheen? Millions of Americans are losing their homes, can't find a decent job.

Read Chris Hedges' latest Truthdig essays, "The Collapse of Globalization" and "Power Concedes Nothing Without a Demand"...just google them.
 
 
+1 # tigre1 2011-04-06 07:09
Hey! heads up! stay strong. Keep on confronting: establish the truth. And absolutely wrap your heads around the country's future, we the people and how we OUGHT
to be living here. Life, liberty, pursuit of happiness...fun damental equality and fairness...stra tegies will emerge to get US there.
Eyes on the Prize: the better America...yours and our childrens'...se e it! and Unite.
 
 
0 # Marsil 2011-04-07 09:26
Why does this not surprise me?? After 911 nothing has ever been the same.
 

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