Have We Not Learned That Bigger Is Not Better When It Comes to Banking?

10 largest banks

How can this be a good thing?

The very people who legally crashed our economy – and those who did it illegally and still haven’t gone to jail – and have kept their bonuses are now even bigger than before.

This is when our government needs to – HAS TO – step in and say….

“You are a danger to the rest of society. You are no longer going to operate in this manner. You have abused the rights and privileges afforded to you in the law, and now the law is changing. You will be broken up, and you will be regulated such that your actions cannot threaten the global economy and the financial well-being of all of the rest of us ever again.”

If there was ever an industry that has repeatedly proven that it is populated with and largely led by people incapable of policing themselves, it’s the financial services industry. This isn’t a personal attack. It’s just the facts, and it’s just history.

There can’t be opportunity and protection without a balance between the private sector and the government. There is no balance today. The scales have been tipping for far too long toward Big Money. This is why it’s so important that we strike at the root of all of our problems – money in politics.

Caseyoncampaigning

We must change campaign finance laws in order to get the influence of Big Money out of our political processes and out of the halls of government. It’s the only way we can expect to have any influence as ordinary citizens over our elected officials.

What can we do? Plenty.

Join up with other concerned citizens who have come together to make their voices heard.

Here are some of my favorites. Please feel free to share this and to add others.

 

http://anticorruptionact.org/

Join the fight. Become a Citizen Co-Sponsor of the American Anti-Corruption Act at http://bit.ly/CitizenCoSponsor

Support MAYDAY.US Together we can end the corruption of money in politics. Pledge now: https://mayday.us/pledge

Support MAYDAY.US Together we can end the corruption of money in politics. Pledge now: https://mayday.us/pledge

Posted in bail outs, Bernie Sanders, capitalism, Citizens United, corporate welfare, deregulation, economy, free market, greed, Magnetar, middle class, politics, regulation, richest 1%, TARP, The Invisible Hand, trickle down economics, Wall Street, wealth distribution in America | Tagged , , , , , , | 1 Comment

How the U.S. Ex-Im Bank Landed on Republicans’ Death Row

“A day before U.S. House Republicans were to vote on a new majority leader, lawmakers aligned with the limited-government Tea Party movement delivered a message to the leading candidate, Kevin McCarthy of California.”

 

 

Source: www.bloomberg.com

"The bank helps foreign companies buy U.S. goods by providing loans, guarantees and insurance. It was established in 1934 under President Franklin Delano Roosevelt and initially focused more on advancing U.S. foreign policy than aiding the economy. It financed the Pan American Highway, authorized $2 billion for European reconstruction under the Marshall Plan and approved $100 million in credits for Israel in 1948. The bank also issued $5.6 million in guarantees to post-Soviet nations.

"To its backers, the bank’s primary benefit these days is to protect manufacturing jobs and counter the advantages of competitors in other countries backed by their government subsidies, including Airbus Group NV (AIR) in France, and Mitsubishi Corp. (8058) in Tokyo. The bank says that its financing has created or maintained an average of 231,000 U.S. jobs every year since 2009, though a Government Accountability Office report last year said the calculation has limitations."

 

 

"At least five groups opposing the bank’s renewal, including Concerned Veterans for America and the 60 Plus Association, received nearly all of their funding over an 18-month period ending in December 2012 from the Kochs’ political network — a total of $47.4 million, according to an analysis by the Center for Responsive Politics researcher Robert Maguire. Another group, Americans for Prosperity, founded by the Kochs in 2004, is also lobbying against the bank.

 

"For the Tea Party, which has come up short in fights over higher-profile issues such as eliminating Obama’s health care law and ousting House Speaker Boehner, the bank presents the chance to chalk up a win going into the November elections.

 

“Its demise would clearly be one of the few achievable victories for the Main Street competitive economy left in this Congress,” Hensarling said in a May 20 speech at the Heritage Foundation."

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Children have been coming to America alone since Ellis Island

And no, we didn’t just send them packing.

Source: www.motherjones.com

Truth and history cannot be denied, they can only be ignored. Every generation has its haters. Ours is no different. They will be pushed to the dustheap of history again just as they always have been. It will take time, but it will happen, and history will, once again, be the judge.

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Bill Maher Rails Against Militarized Police Culture in Outstanding Monologue – YouTube

July 18, 2014 – It’s a topic on which this writer has spilled plenty of ink, but one that goes largely ignored by mainstream media: The troubling militarizat…

Source: www.youtube.com

Know what scared me the most about the whole Boston Marathon bombing?

 

The nearly instantaneous para-militarized locked down of one of America’s largest and greatest cities.

 

How can anyone be ok with that?

 

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Full Show: The Crusade Against Reproductive Rights | Moyers & Company | BillMoyers.com

With new state laws and Supreme Court rulings, the battle over women’s reproductive rights is being fought more fiercely than ever. Roe v. Wade itself may be in peril. Planned Parenthood’s Cecile Richards joins Bill in the studio this week.

Source: billmoyers.com

More than half of women in America now live in states hostile to abortion. We have extremists on one party and one party only to thank for that.

If you vote FOR a Republican your are voting AGAINST all women.

Period. Full stop.

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To All Women: A Vote for the GOP is a Vote Against Yourself

Image courtesy of UniteWomen.org Facebook page, https://www.facebook.com/UniteWomen

Graphic by Joanne Barrett. Image courtesy of UniteWomen.org Facebook page, https://www.facebook.com/UniteWomen

To all the women in America:

We are all counting on each and every one of you to get out and vote this November and to turn every state and DC in your favor. That means, of course, as far away from the Republican party as we can get.

I know most women already know this. Now it’s time to make sure everyone else in America knows it, too, and that is this: A vote for a Republican – any Republican at any level of government – is a vote AGAINST women and FOR a party that thinks of women as second class citizens and who wants to legislate against women as second class citizens.

The facts are all around us. I know you women know them, but let me share just a couple that make the point about as obvious as it can be made to the rest of the populace.

 

Hobby Lobby

It’s clear, right? 5 men on the Supreme Court voted in favor of a corporation and AGAINST a woman’s right to have access to the health care of her choice.

All 5 of those men were appointed by a Republican president.

Samual Alito – George W. Bush
John Roberts – George W. Bush
Antonin Scalia – Ronald Reagan
Anthony Kennedy – Ronald Reagan
Clarence Thomas – George H. W. Bush

 

Lilly Ledbetter

5 men – the very same 5 who voted FOR Hobby Lobby – voted in favor of Goodyear Tire and Rubber and AGAINST women in the 2007 Supreme Court case, Lilly Ledbetter vs Goodyear Tire and Rubber.

That ruling was effectively overturned in 2009 by the Lilly Ledbetter Fair Pay Act of 2009.

It passed in the Senate 61-36. Every No vote was cast by a Republican Senator. Every single one. Only 4 GOP Senators voted for it.

The bill then passed in the House 250-177. 173 of the 177 No votes were cast by Republicans. Only 3 Republicans voted for it.

That law, incidentally, was the second attempted piece of legislation with that name. The Lilly Ledbetter Fair Pay Act of 2007 originated in the House as H.R. 2831. It had 93 CoSponsors. All Democrats.

That bill passed the House 225-199. Only two Republicans voted for it. 193 of the 199 No votes were GOP No votes.

When it reached the Senate, it failed to get the 60 votes necessary to avoid a filibuster. Why? Because only 5 Republicans voted for cloture and to bring the bill to the floor for a vote. 41 of the 42 No votes were by Republicans.

And, can you guess which presidential candidate was AGAINST the Lilly Ledbetter Act of 2007? Yes, the one with a woman as his running mate.

 

It may not have always been this way, but the realities today are undeniable.

Republicans are, among other things, steadfastly against women. Roe v Wade is settled law, isn’t it? How can anyone in the 21st century think it’s ok to pay a woman less for the same job or, even worse, dictate to her as an employee what she can and cannot have access to in her health insurance because of the owner’s religious beliefs?

Who thinks like that????

It might not be a war on women being waged by the GOP, but it sure as hell isn’t supportive of women in any way that I can see.

Women of all ages and place, and especially young urban women, I implore you to vote in the midterms this year. You will make the difference.

I also invite all women to post more examples here of how you feel you’re viewed and treated by your government and by the political parties. Feel free to share links and resources, too.

#Vote2014 #RememberInNovember

 

Sources:

Burwell v. Hobby Lobby: http://en.wikipedia.org/wiki/Burwell_v._Hobby_Lobby

Ledbetter v. Goodyear Tire & Rubber Co.: http://en.wikipedia.org/wiki/Ledbetter_v._Goodyear_Tire_%26_Rubber_Co.

S. 181 (111th): Lilly Ledbetter Fair Pay Act of 2009 (On Passage of the Bill):
Senate - https://www.govtrack.us/congress/votes/111-2009/s14
House- https://www.govtrack.us/congress/votes/111-2009/h37

H.R. 2831 (110th): Lilly Ledbetter Fair Pay Act of 2007 (On Passage of the Bill): https://www.govtrack.us/congress/votes/110-2007/h768

Supreme Court of the United States: http://en.wikipedia.org/wiki/Supreme_Court_of_the_United_States

Posted in conservatives, GOP, Republicans | Tagged | 1 Comment

Citigroup: The Original Gangsta: Robert Scheer

The prototypical too-big-to-fail bank will pay $7 billion in fines, a move that will avoid a humiliating trial dealing with its role in the financial meltdown.
– 2014/07/14

Source: www.truthdig.com

The evidence is clear for anyone willing to face facts.

 

Deregulation of the financial services industry screwed us all except, of course, for those at the top of Wall Street and K Street and Capitol Hill.

 

The rich and powerful have proven throughout history that they simply cannot be trusted. When are we all going to learn that lesson?

 

Let me start by asking you Randians who believe libertarian fairy tales about free markets and Invisible Hands.

 

You do realize – actually and sadly, I guess you don’t – that there’s no such thing as a free market or an Invisible Hand and there never can be.

 

There are no supernatural powers at work in the marketplace. The market can’t sort things out by itself. The people of wealth power aren’t making decisions to do anything to improve the market or our lots in life.

 

How many times do you need to be hit over the head with the factual 2X4s before you get it that corporations are run by people who, when left unchecked, have proven again and again the only self-governance they’re interested in is toward whatever definition of unfettered capitalism – including, BTW, all the generous government subsidies they can get their hands on thanks to our tax dollars – yields them the greatest returns?

 

When will you get it that that is not their largess trickling down on us, and when will you understand that wishing for some piss-poor Russian novelist’s fiction to suddenly become reality won’t make it so no matter how many times you click your ruby slippers together?

 

As for you more mainstream conservatives, Republicans, and even most tea partiers, you need to quit listening to the libertarians and the off-the-rails radicals among you.

 

The only people benefiting from deregulating corporations and guns while wanting more regulation of gays, women, minorities, and immigrants are those who are using their Not-So-Invisible Hands to pull the economic strings. Will you ever see that those strings are tightening around your necks, too?

And "The American Dream?" It’s a dream now for a reason, and if you spent 15 minutes looking at history you’d know that.

The only time that Dream could actually be realized was during America’s Golden Age when Democrats ruled most of government post-Depression; when labor was strong and growing; and when banks and financial services were regulated up their wazoos.

So, please, all you well-educated, thoughtful, and clear-thinking conservatives, would you please stop kissing the Mad Hatter’s and GOP’s asses when it comes to their lies about smaller government, lower taxes, weaker labor, and less regulation?

The 30+ year experiment of Reaganomics has failed. Be grown ups about it, at least, and admit it.

 

Now for you dyed-in-wool Democrats, liberals, progressives, and transpartisans (which, IMHO, is as about as believable a thing as Invisible Hands – talk about non-committal).

 

The Financial Services Modernization Act, aka Gramm-Leach-Bliley, passed with overwhelming bipartisan support. It was signed into law by a Democratic president. It broke down all the barriers and protections that were put up after the last Great Depression.

 

We clearly didn’t learn anything from history, putting the foxes back in charge of the hen houses they had been locked out of for all those prosperous years in America.

 

If this article doesn’t prove that Big Money trumps ideology, party, and policy – the kind we like to fantasize about as coming only from Democrats who, in our fairy tale world, are always doing right and looking out for the little guy – then what will?

 

And, when will you well-meaning, kumbaya-singing, fellow liberals on the Blue Team call out Clinton for what he did? Isn’t it time to stop canonizing him as your Saint Reagan?

 

It’s all about money and power.

Can someone prove to me that money doesn’t rule our government at every level?

Can someone tell me why there aren’t more Americans willing to do something about it?

For those who are willing, let me make a few of the same suggestions I’ve been making. They are non-partisan and apply to everyone of every political stripe and leaning:

1. Become a Citizen Co-Sponsor of the American Anti-Corruption Act at http://bit.ly/CitizenCoSponsor

2, Support the MayDayPAC, the "SuperPAC to end all SuperPACs" at http://bit.ly/MayDayUS

3. Get behind and support organizations working to overturn Citizens United and McCutcheon like Move To Amend (movetoamend.org) and WolfPAC (wolf-pac.com)

 

If we’re going to make a difference, the first thing that has to happen is we have to be louder and more powerful – and electorally more important and more threatening – to politicians than a few wealthy donors and corporations.

 

That’s why getting money out of politics – and voting in every single election – is so important. 

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Full Show: Is the Supreme Court Out of Order? | Moyers & Company | BillMoyers.com

Following several high-profile, controversial decisions, Bill speaks to NY Times columnist Linda Greenhouse and Slate’s Dahlia Lithwick about the agenda of the Roberts court.

Source: billmoyers.com

The conservatives on the Supreme Court are the epitome of and the worst kind of Activist Judges. They are blatant partisan hacks pushing the backward agenda of the ultra-conservative wing of the Republican party. 

 

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This Chart Explains Why The US Military Is Such A Dominant Global Force

Naval power is one of the main sources of U.S. military dominance

Source: www.businessinsider.com

Where "smaller government" would definitely be a good thing.

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Miami will be swallowed as sea levels rise, but the climate change deniers who run it look the other way

Source: www.rawstory.com

This is one of those issues that’s too important to sugar coat.

 

If you’re a climate science denier and you’re voting for people like Rubio, you’re part of the problem. Simple as that.

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