PATH: BS | Insatiable Greed

One Company Controls Almost The Entire Eyeglass Market

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When you see all those brands, all those different stores, outlets and eyecare companies, you think, "competition" right? Not exactly. What if I told you there was one company that pretty much had a monopoly on the entire market? If you don't wear glasses or sunglasses, then I guess this won't apply to you...

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A Modern Version Of SchoolHouse Rock: How America Collapsed

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Ed Asner does voiceover for a clever animated video that talks about how American society has changed over the years and how taxation and corporations have sucked dry, the economy. In the style of the old "Schoolhouse Rock" cartoons...

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American Food That Is Banned Elsewhere

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Every day, millions of Americans enjoy food products that other countries have deemed unsafe for consumption. Let's take a look at some examples..

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eBay Caught Selling Useless Insurance Policies To Customers

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EBay sells insurance that excludes from coverage the exact items it ships, rendering the policy useless, a class action claims in Federal Court.

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OnStar's New Plan To Collect/Sell Your Personal Info

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Jonathan Zdziarski writes, "I canceled the OnStar subscription on my new GMC vehicle today after receiving an email from the company about their new terms and conditions. While most people, I imagine, would hit the delete button when receiving something as exciting as new terms and conditions, being the nerd sort, I decided to have a personal drooling session and read it instead. I’m glad I did. OnStar’s latest T&C has some very unsettling updates to it, which include the ability to sell your personal GPS location information, speed, safety belt usage, and other information to third parties, including law enforcement. To add insult to a slap in the face, the company insists they will continue collecting and selling this personal information even after you cancel your service, unless you specifically shut down the data connection to the vehicle after canceling."

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Economists Show True Reason For Deficit Increase

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This week marks the 10th anniversary of the first of President George W. Bush's two tax cuts, which have played a disproportionate role in blowing up the deficit and debt. As the Center for American Progress' Michael Ettlinger and Michael Linden found, the federal debt would be at a sustainable level today ? even with the wars and the financial crisis ? were it not for the Bush tax cuts. ThinkProgress has assembled this short animation showing how the Bush tax cuts drove the deficit and debt up and are still ruining the budget picture today.

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Businessmen Caught With $134B of US Bonds at Italy/Swiss Border

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Italy's financial police (Guardia italiana di Finanza) has seized US bonds worth US 134.5 billion from two Japanese nationals at Chiasso (40 km from Milan) on the border between Italy and Switzerland. They include 249 US Federal Reserve bonds worth US$ 500 million each, plus ten Kennedy bonds and other US government securities worth a billion dollar each.

So far, no American mainstream media has picked up on this pretty scandalous story. Is some government trying to liquidate their shares of T-bills? Or are they fake and this is the largest counterfeit operation ever?

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Cribs: The 21st Century Edition

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[Humor]
Seth Green shows us how to "live large" in the current economic climate and still come with the bling, yo!

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Moore: The Rich Got Their Welfare Check This Morning

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Michael Moore has penned a poignant diatribe on the financial bailout. Irresponsibility and greed are being rewarded by American taxpayers to the richest people in the financial community.

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Stats Indicate "Gas Shortage" May Be Phony

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While various pundits claim accessibility to oil resources is what's driving high gas prices, reports from the United States Department of the Interior indicate otherwise. Apparently the reality is, the oil companies have access to plenty of oil -- they're just not drilling for it. They're letting prices go up in an effort to put pressure on consumers to put pressure on lawmakers to give them even more access to drilling areas. And the clincher is right now, only 17% of the oil leases available are actually being drilled!

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Exxon Squeezes Every Penny Of Profit From Franchises

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Every time Sohaila Rezazadeh rings up a sale at her Exxon station on Chain Bridge Road in Oakton, her cash register sends the information to Exxon Mobil's central computers. If she raises the price of gasoline a couple of pennies, chances are that Exxon will raise the wholesale price she pays by the same amount.

Through a password-protected Web portal, Exxon notifies Rezazadeh of wholesale price changes daily. That way the oil giant, which is earning about $3.3 billion a month, fine-tunes the pump prices at the franchise Rezazadeh has owned for 12 years.

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Your Bank May Collapse But Lenders Still Get Big Bonuses

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As mortgage holders face foreclosure and shareholders take a bath, troubled Washington Mutual takes action -- to protect executive bonuses. It could be a trend. Get the board of directors to change the rules to make it look like you're doing a good job and collect millions in bonuses.

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Day Trader Meltdown As Wizards Try To Cast Anti-Recession Spell

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Yesterday was an interesting day in the world of financial markets, if you think seeing a huge storm heading your way "interesting," and today it gets even more "interesting."

Hoping to halt a market meltdown and prevent a recession, the Federal Reserve lowered its overnight lending rate by three quarters of a percentage point to 3.50% on Tuesday in a rare move between formal meetings.

Nobody watches NASCAR to see cars go around in circles. We know what makes the highlights... watch the video we have as this day trader suddenly realizes the market has raped him hard...

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The Tom Cruise Indoctrination Video

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Didn't get a chance to watch the terrifyingly creepy Tom Cruise video yesterday before Scientologists pulled it off YouTube? Well, Defamer.com managed to get their hands on a copy and now they'd like to invite you to watch in all its technicolor glory. Nevermind the orgs, nevermind the SPs and nevermind David Miscaviage, Defamer won't hesitate to put their ethics on ANYONE! Don't miss out, over one billion earth humans have been served. KSW and KFC forever (or something). This is must-see. Do not pass go without watching this video.

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Lead Found In Lipstick

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Toys made in China aren’t the only products laced with dangerous heavy metals: lipstick manufactured in the United States and used daily by millions of American women also contains surprisingly high levels of lead, according to new product tests released today by the Campaign for Safe Cosmetics. The lead tests were conducted by an independent laboratory over the month of September on red lipsticks bought in Boston, Hartford, Conn., San Francisco and Minneapolis. Top findings include:

More than half of 33 brand-name lipsticks tested (61 percent) contained detectable levels of lead, with levels ranging from 0.03 to 0.65 parts per million (ppm). None of these lipsticks listed lead as an ingredient.

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Time-Warner Rewrites USPS Postal Rules and Rates

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For the first time ever in the history of the US, The Postal Regulatory Commission ignored a plan by the US Postal Service in favor of a rate-increase plan submitted by an outside corporation: Time-Warner, which involves a super-complicated scheme to allow their own publications to avoid paying higher postage, while sticking it to smaller publishers.

Go democracy!

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Court Confirms Katrina Damage Was Not "An Act Of God"

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Hurricane Katrina victims whose homes and businesses were destroyed when floodwaters breached levees in the 2005 storm cannot recover money from their insurance companies for the damages, a federal appeals court ruled Thursday.

While insurance may cover some "acts of God," the insurance industry had enough fine print to invalidate claims of flooding due to negligence on the part of the Army Corps of Engineers, which led to the majority of the city's destruction, and therefore, victims were not qualified to be covered under their insurance policies.

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Symantec: Our Software Screwed Up Your PC? Here's Another Copy!

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One month after tens of thousands of PCs in China were disabled by a bug in its Norton antivirus software, Symantec has offered to compensate the owners. However, the compensation – more copies of the software that caused the problem – has sparked outrage.

Imagine that.

At this point, even if you reject the local Geek Squad's invitation to watch the Star Wars Trilogy at their parents' house, they still wouldn't recommend using Symantec security products.

READ MORE | 5 comments since 2008-08-19 01:59:44 | Comment on this Article

Louisiana Congressman Bill Jefferson Indicted

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Rep. William Jefferson, D-La., was indicted Monday on federal charges of racketeering, money-laundering and soliciting more than $400,000 in bribes in connection with years of trying to broker business deals in Africa.

The charges came almost two years after investigators raided Jefferson's home in Washington and found $90,000 in cash stuffed in a box in his freezer.

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The Nightmare Of Cancelling Subscription Accounts

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PC World Senior Editor Tom Spring signed up for 32 online accounts. Then tried to cancel all of them. The most difficult to cancel: NetZero. The easiest to cancel: Consumer Reports Online and The New York Times TimesSelect. Read on to hear about his customer service nightmare.

READ MORE | 1 comment since 2009-08-07 16:03:52 | Comment on this Article

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