Voters should #NeverForget915, and they should never believe people like Scott J. Freidheim

Republican politicians have been selling the lies of trickle down economics and deregulation on behalf of their Big Money and Wall Street masters for decades.

Now the very people at the heart of the financial market collapse of 10 years ago – people like Scott J. Freidheim – are trying to explain how it could have been avoided by making their lives easier.

Anyone paying even the slightest attention to economic reality since Reagan and certainly in the years leading up to the collapse of 2007/8 will know better.

NeverForget915

Everything old is new again

As someone who just made it under the wire of Baby Boomer, I’ve watched for decades as low information conservative voters have been able to be counted on by generations of Republican politicians as people who are very easily duped into buying Republican lies.

These days I find myself asking whether Americans who think of themselves as Republicans and who vote for Republican politicians have either the will or the desire to ever actually understand how voting for a Republican at any level of government – from school board to town mayor to president – is truly a vote for a Party with an ideology designed explicitly to hurt them, their progeny, and everyone else outside the One Percent?

Republican orthodoxy on full display

The answer seems to be that some Americans continue to be willingly duped by people like Scott J. Freidheim.

Lehman insider Scott Freidheim

In “The Lehman Brothers Collapse, 10 Years Later,” full-blown One Percenter and former senior Lehman executive, Scott Freidheim, is peddling the right-wing lie that says everything is the government’s fault if the government doesn’t do what Big Money wants.

In other words, pure Republican orthodoxy.

Mr. Freidheim has the temerity to claim that Lehman’s collapse was the government’s fault for not allowing Lehman to reorganize in ways that would have given them better federal protections.

Think about that as you then consider this.

In what I suspect was an unintended and fleeting moment of honesty, he admits in the interview that his industry didn’t “take it far enough” in evaluating the risks they had created for themselves and for the world economy.

So, which is it?

Too much regulation or too little?

By his own admission, Wall Street paid too little attention to risk. Why? Was it because they expected to be bailed out, thereby continuing to socialize all the risk while privatizing all the gains?

And, when the help didn’t come to him and Lehman Brothers?

Freidheim wants us to agree with him and blame Lehman’s collapse on the federal government.

Seriously, and on behalf of all Americans outside the 1/10th of 1% where you live, Mr. Freidheim, fuck you and all of your fellow Wall Streeters.

You all belong in jail.

Republican voters; stop ignoring reality

Voters across the spectrum who are outside the One Percent – but especially Republican voters – need to stop and understand what Freidheim and people like him are saying.

You Republican voters more than anyone need to understand what Republicans, bankers, ALEC, and all the Big Money power brokers are doing to this country because YOU’RE THE ONES VOTING FOR politicians who want LESS regulation of greedy, power-hungry, and soulless people like Dick Fuld, James “Jimmy” Cayne, Jamie Dimon, and now lesser-known cretins like Scott Freidheim.

You Republican voters more than anyone need to understand why Freidheim and his ilk want LESS REGULATION. Less regulation means they have more opportunities to take unwarranted risks knowing that they will keep all of their gains and that we’ll have to bail them out on their losses as the only way to “save the financial services industry” when next their greed and stupidity causes the next collapse thanks to people like Freidheim and his kind.

And most of all, you Republican voters more than anyone need to understand that you are not at all even a part of the concern of Republican politicians.

And, that absolutely includes the current leader of what is now the cult that is the Trumpublican Party.

Trump is not a Republican, neither are you, and none of them give a shit about you

Here’s a prime example of how Republicans hurt everyone.

Thanks to you Republican voters, The Economic Growth, Regulatory Relief and Consumer Protection Act (S.2155) was signed into law by Trump. It de-fangs what was already not a strong enough post-collapse attempt to rein in the banks, Dodd-Frank.

As someone duped into believing you’re a Republican, you apparently bought the lie that undoing Dodd-Frank was a good move.

You were wrong. Again.

You Americans who think you’re a Republican were wrong in the 2016 election for believing you were voting for someone in Trump who was going to work for you and not the bankers. Honestly, you Republican voters should be ashamed of yourselves for being so gullible.

Not to worry, though.

November 2018 is your next chance to prove you aren’t the useful idiots of Republican politicians and Wall Streeters you act like by voting for them. All you have to do is to stop being your own worst enemy, and stop voting for the Party who has fucked you over your whole life.

Lefties, you’re responsible, too.

As for you self-proclaimed liberals and progressives who can’t seem to hate enough on the so-called “corporate” and “Wall Street” Democratic Party; here’s my advice to you.

Grow the fuck up.

You need to stop acting like some perverse combination of spoiled brat, self-righteous egomaniac, and puritanical zealot, and understand the difference between imperfect allies and actual enemies.

Yes, Democrats are imperfect. So are you.

Yes, some purple state Democrats in the House and Senate “disappointed” you again by voting for S.2155.

But understand this:

One, just ONE House Republican, voted against the bill.

Not a single Republican Senator cast a No vote. Not. One.

So, to my fellow social democrats, liberals, progressives, and everyone else on the left who is self-righteously banging your fists or holding your breath or acting like whatever spoiled and privileged lefty that you want to be, stop that shit right now.

Pull your heads out of your asses, and support any and every Democrat on every ballot.

Most of all, act like an informed and intelligent citizen, and vote in November for whomever has the ‘D’ next to their name…….unless, of course, you’re happy helping Republicans to keep control of local, state, and federal government.

No, Democrats aren’t perfect, but this is where you need to grow up. What they aren’t are Republicans.

If that’s not enough for you……I’m tempted to suggest an impossible solo sex act, but instead, know this.

You are looked at now and you will be considered by history when it’s written as just as much the source of our social, political, and economic problems as the duped 99-percenters who are voting for Republicans because you refuse to do what is required to end Republican rule.

 

What Costco has to teach the 99-percenters who think they’re Republicans

It’s not complicated. Every retailer, restaurant, and corporation in America can do what Costco is doing, but they don’t.

Costco

Why is that?

I think it’s because the people who own and run these businesses refuse to look beyond next quarter’s financial statements. Their thought processes, their vision, and their values don’t include ways to share their wealth with their workers.

They are greedy, selfish, sons-of-bitches who want us to think that’s just how capitalism works.

That also seems to be how today’s conservatives who are outside the 1% think, too. What other explanation can there be for why they think they are Republicans?

Conservatives Don’t Seem to Understand Reality

Costco clearly has leaders, a board of directors, and shareholders who are visionary and courageous enough to implement ethical and moral business strategies that are profitable AND which include a more equitable distribution of those profits to workers in the form of livable wages.

Contrast that with the lies we’re told by Wall Street, by Big Business shills like the U.S. Chamber of Commerce, the National Restaurant Association and the National Federation of Independent Business, by libertarian mythologists like Heritage Foundation and Cato Institute, and by Republican politicians who keep claiming that trickle-down economics works, that we should abolish a minimum wage and leave compensation to market forces, and that government interference and over-reach are stifling business and our economy.

How is it that conservatives don’t get that all of that is, of course, complete and total bullshit?

How is it that conservatives who make less than $340,000.00 – what it takes to be in the 1% – insist on voting for Republicans and their failed policies which have ALWAYS been designed to benefit the rich and powerful first and foremost?

Liberals: Time to “Welcome Their Hatred”

We need leaders like Bernie Sanders who welcome the hatred of Wall Street and Big Money.

Compare Bernie

 

We need people like Lawrence Lessig as politicians who represent us and who are willing and eager to confront Big Money for their lies and their failures.

 

As individuals, we also must welcome the hatred of the rich and powerful. We need to find the courage to band together. We need to shine light on the fact that conservatism and Republican policy is to blame for where we are now as a nation and as a society.

More than anything, we liberals need to stop surrendering to the all-too-common liberal weakness of always wanting to find compromise.

No more compromises. It’s how we got to this sorry state of affairs. We let conservatives move the center further and further to the right by acquiescing to their demands and our own desire to avoid confrontation and conflict.

No more.

Liberals didn’t elect Reagan and two Bushes. Liberals didn’t cause banks to fail. Liberals didn’t demand that government shrink and corporations become less and less regulated. Liberals didn’t funnel all of the recovery and wealth to only the absolute richest among us.

We liberals need to continue to point out these and all the inconvenient truths that stem from conservatism (and its absurdly juvenile and greed-driven stepbrother, libetarianism).

Our fellow citizens who self-identify as conservatives need to hear from us whether they want to or not. They need to hear the truth; that they are also part of the ever-shrinking middle class and the ever-growing class of working poor.

They need to hear from us liberals that they are wrong – plain and dead wrong – for voting for ANY Republican anywhere and at any level of government.

They need to keep hearing it. Conservative (and much of libertarian) ideology that informs and drives Republican policies have unequivocally been proven to be dead wrong for everyone on every issue, and that includes economic issues. That is true, of course, for everyone except for the rich and powerful.

The Parties Are NOT The Same

It’s pretty simple and absolutely obvious. The GOP is the party of big business and the rich.

For those who are tempted to trot out the b.s. false equivalence that, “Both parties are the same,” save it. As far as I’m concerned, you’re second in line as the greatest obstacle to making real progress in this country. You give Republicans cover, and you need to stop it.

Number one on the list of obstacles are actually those Americans living in households with adjusted gross incomes of less than $340,000.00 per year who insist that they are Republicans and who vote for Republicans. I have news for them. They are not in the 1%. The conservatives in the 99% mean precisely nothing to Republicans except as useful fools who can be counted on to vote for them.

Organized Labor Is the Path to Prosperity

It’s absolutely stunning that conservatives aren’t banding together with the rest of us in the middle class in support of organized labor. History proves that stronger unions are the path to better and higher standards of living for everyone.

It bears repeating.

If you make less than 340-grand and think unions are somehow the problem and Republicans are the answer, then you not only don’t understand reality, you’re the biggest obstacle to prosperity we have right now in America.

So, how about it, conservatives?

How about you wake up and stop voting against yourselves and the rest of us?

You’ll thank yourself and, more importantly, so will future generations.

95 percent

——

Additional Reading:

Strengthen Unions

Wealth Inequality in America

Top 1 percent: How much do they earn?

Capital Eye Opener, March 8: The Fight Over Minimum Wage, and Rand’s Partisan Appeal

New Poll Shows Overwhelming Support for Major Minimum Wage Increase

Activists Around the US Fight to Raise the Minimum Wage

 

Main Street: Your recovery will come from the left, not the right. #GetMoneyOut #NeverForget915

The American public got played (again) for chumps back in 1999 when we weren’t in the streets protesting Slick Willy’s signature of the Gramm-Leach-Bliley Act.

It wasn’t the first time. It undoubtedly won’t be the last time, either, unless we’re willing stand up once and for all time against the failed ideology of conservatism.

So, what has GLBA wrought? The ’08 crash, for one thing.

Now there’s hope for us and for Main Street:

As it happens, a trial just ended in Sacramento in which a jury was convinced that “executives intended to make fraudulent loans.” Here’s the thing, though: It wasn’t the government that made the case against the financiers; it was the defendants.
“Finally, Wall Street gets put on trial: We can still hold the 0.1 percent responsible for tanking the economy”; Thomas Frank, Salon, Sept 7, 2014.

The real estate bubble that Wall Street executives knowingly manufactured while knowing they’d escape unscathed is finally coming to some justice.

It’s about time. Their crimes and the travesty they created turns 6 years old next week.

NeverForget915

Now, I know some of you still believe the libertarian fantasies of Invisible Hands and “free market” solutions. Wake up, please. Those are fantasies conjured up in the imagination of a sub-par Russian novelist and then perpetuated by the likes of big business propagandists like Milton Friedman and the Koch Brothers. It’s not the real world, and you have been duped.

I know lots of you like to mix in large doses of Wall Street hero-worship, too. You think people like Jamie Dimon, Dick Fuld, and  Lloyd Blankfein are people of admirable character with great and endless ambition who make for exemplary role models because of the wealth and power they have amassed.

Again, you have been duped. Open your eyes. They and people like them play you for a fool. They are the ones who drove the economy right off the cliff. They have never paid a dime of recompense and, with extremely rare exceptions, have not done a minute of time behind bars for their crimes. What’s worse is that they’re still in charge.

Finally, there’s this. I know you hate hearing it because you know it’s true. Reaganomics.

Too many of you insist on believing the lie that is trickle down economics. The economy has been slow to recovery because the government bailed out Wall Street instead of Main Street. The rich got paid off for their mistakes and then took their money offshore. Banks have been operating at a federal funds rate of effectively zero for how many years now, and still no money seems to be reaching anyone except the largest and most profitable corporations.

Do you not get it yet? The government didn’t do enough 6 years ago and it still hasn’t done enough to stimulate true growth and real prosperity at its source – the MIDDLE CLASS AND THE POOR WHO ACTUALLY DRIVE THE ECONOMY WITH OUR SPENDING!

Please look at the facts. Please stop telling yourself that less regulation is always better.

Please stop voting for people who think money is speech and corporations are people.
(Does it surprise anyone that the 18 Senators who voted today against an amendment to overturn Citizens United were all Republicans?)

Please stop ignoring the fact that all the gains in our rigged economy are going to the top, that none of it will ever trickle down to you, and that all the gains are privatized while all the losses are socialized because too many of YOU insist on voting against YOUR OWN economic self-interests.

Please stop voting for Clintons and Bushes and Ryans and Pauls and Romneys.
(Yes, Clintons, too, and any other corporatist Democrats. They are part of the problem, too, just not to the same degree as Republicans and their pesky little brothers and sisters in the libertarian and tea parties.)

I get it. It’s your choice. You’re free to vote for whomever you like. You’re also free to keep playing the role of the rich person’s chump.

Just know this. There’s a growing number of people who will keep revealing the truth while you believe the lies. We will keep working to get money out of politics while you continue to vote for Big Money, whether you realize it or admit it, or not.

We will keep doing this in the hope that you’ll one day come to your senses. We will keep doing it with the certainty that if you don’t come to your senses, well, at least there’s hope for your (and our) children and grandchildren. Remember this. It’s their eyes we’ll all have to look into someday.

One more thing you must know. It’s the only logical conclusion anyone can come to in light of the last 35 years or so, and that’s this. Conservatism is a failed ideology.

Whether its ISIS or Westboro; whether its bin Laden or McViegh; whether it’s Bibi or Cruz, conservatism in all its forms and flavors is a failed ideology.

In political and economic terms, it has failed everyone except for the very rich and the very powerful who wish to go on subjugating and oppressing workers and ordinary citizens.

No society has ever advanced by being conservative, or by looking inward or backward, or by concentrating more and more wealth and power into fewer and fewer hands. This is the very definition of conservatism today in America. Make no mistake about it. There is one and only one political party embracing the failed ideology of conservatism. One.

Main Street, your salvation is not going to come from ideologues who want to conserve the status quo of unequal power and unfair capital distribution. You must see by now that nothing is going to trickle down to you. There’s nothing for Big Money to gain by pressing politicians for policies that help you to thrive.

Remember this. It wasn’t liberals and progressive who drove you and your fellow business owners to the brink of extinction by bribing or threatening local zoning boards in order to get sweetheart tax deals for the likes of Walmart. It wasn’t liberals and progressives who put Main Street out of business by driving down prices for goods and services by moving manufacturing overseas and then importing cheaply made products back to store shelves. It wasn’t the poor or the disenfranchised or the liberals and progressives who, once they had forced you out of business, continued to pass tax reforms that further enriched the rich, tried to kill unions, and who caused your standard of living to stagnate and decline by ensuring that the only jobs left in your communities were the ones paying minimum wage.

These are not liberal and progressive ideals, but they are at the very core of conservative ideology and it’s evil offspring, Objectivism – a perverse euphemism for a degree of vile greed and selfishness to qualify as a psychosis.

Look, it’s time we all became progressives. It’s how society will progress.

More than that, it’s time we all took the fight directly to conservatives and libertarians using the facts and history they cannot deny and which proves, once and for all time, to Main Streets everywhere that, on election day and with extremely rare exceptions, a vote for a Republican or libertarian is a vote against yourself, our economy, our society, and our future.

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.

 

https://movetoamend.org/
https://movetoamend.org/
http://anticorruptionact.org/
Join the fight. Become a Citizen Co-Sponsor of the American Anti-Corruption Act at http://bit.ly/CitizenCoSponsor
http://www.wolf-pac.com/
http://www.wolf-pac.com/
https://represent.us/
https://represent.us/
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

Sign the petition: I come from the Elizabeth Warren wing of the Democratic Party

See on Scoop.itDidYouCheckFirst

Wall Street Democrats are fighting back against economic populists like Elizabeth Warren and Bill DeBlasio.

Tell them you stand with the Elizabeth Warren wing of the Party.

Greg Russak‘s insight:

“Wall Street Dems know populists like Elizabeth Warren are gaining influence with the Democratic base. Horrified, these Dems have launched an attack throughout corporate media that threatens electoral doom for the Democratic Party if it dares stand up to Wall Street.”

 

Read more at and sign the petition

https://www.dailykos.com/campaigns/690&tag=050114splash2

See on www.dailykos.com