2014 Politician Crook Of The Year
"Christie is at the heart of a scandal to redirect billions of dollars in pension money to his Wall Street pals at the expense of public workers, sparking resignations and accusations.
Christie is also mismanaging federal Hurricane Sandy funds when he's not bullying selfless Ebola aid nurses.
Christie isn't just a crook. He's also a bully, and that quality seems to protect him from any consequences for whatever he decides to do."
Wednesday, December 31, 2014
Chris Christie Poised To Sign Bill Paving The Way For Corporations To Control Water In New Jersey
http://www.addictinginfo.org/2014/12/29/chris-christie-poised-to-sign-bill-paving-the-way-for-corporations-to-control-water-in-new-jersey/
"With a stroke of a pen, New Jersey Governor Chris Christie could pave the way for corporations to control the state’s water supply without the consent of the voting public."
"With a stroke of a pen, New Jersey Governor Chris Christie could pave the way for corporations to control the state’s water supply without the consent of the voting public."
Three ways the GOP will sabotage the government and the economy in 2015
http://www.dailykos.com/story/2014/12/28/1354015/-Three-ways-the-GOP-will-sabotage-the-government-and-the-economy-in-2015#
"After simple math showed that his tax-cut windfall for the wealthy would add trillions to the national debt, Ryan among other conservatives decided to change the way the CBO does math."
"After simple math showed that his tax-cut windfall for the wealthy would add trillions to the national debt, Ryan among other conservatives decided to change the way the CBO does math."
Republicans Plan Another Bush Trickle Down Assault In 2015
http://www.politicususa.com/2014/12/29/republicans-plan-bush-trickle-assault-2015.html
"It is noteworthy that Paul Ryan intends on reinstituting an exclusively Republican CBO to approve the Republican trickle-down tax scheme as an economic boon to fool Americans into thinking that after thirty years, trickle down will work…this time."
"It is noteworthy that Paul Ryan intends on reinstituting an exclusively Republican CBO to approve the Republican trickle-down tax scheme as an economic boon to fool Americans into thinking that after thirty years, trickle down will work…this time."
Mayor DeBlasio: Fire The Commissioner And Discipline Insubordinate Police Officers
Mayor DeBlasio: Fire The Commissioner And Discipline Insubordinate Police Officers
"Are we supposed to buy into their self-justifying narratives that no cop, anywhere, is ever at fault for anything? Do they not understand the very concept of civilian oversight?"
"Are we supposed to buy into their self-justifying narratives that no cop, anywhere, is ever at fault for anything? Do they not understand the very concept of civilian oversight?"
Robert Reich: GOP's Economic Plan Has No Basis In Reality
http://www.alternet.org/economy/robert-reich-gops-economic-plan-has-no-basis-reality
"one of the first acts of the Republican congress will be to fire Doug Elmendorf, current director of the non-partisan Congressional Budget Office, because he won’t use “dynamic scoring” for his economic projections.
Dynamic scoring is the magical-mystery math Republicans have been pushing since they came up with supply-side “trickle-down” economics."
"one of the first acts of the Republican congress will be to fire Doug Elmendorf, current director of the non-partisan Congressional Budget Office, because he won’t use “dynamic scoring” for his economic projections.
Dynamic scoring is the magical-mystery math Republicans have been pushing since they came up with supply-side “trickle-down” economics."
The True Costs of Corporate Welfare
http://www.truth-out.org/opinion/item/28293-the-true-costs-of-corporate-welfare
"the nation's biggest welfare recipients - rich people and big corporations - are making out like bandits, because the welfare they take isn't for food or housing - it's to increase their profits and wealth.
As Paul Bucheit points out over at Common Dreams, the average US family pays a staggering $6,000 each year in subsidies to big business.
Think about that for a second.
Each year, you're forking over around $6,000 of your hard-earned money to big banks, fossil fuel giants and massive transnational corporations that already rake in billions and billions of dollars in profits.
But you don't see conservatives arguing against that.
So, where is all of that money going?
Of that $6,000, $870 goes to direct subsidies for corporations, including the likes of Exxon, Shell, BP and other fossil fuel giants that are taking our money and destroying our environment at the same time.
Meanwhile, hundreds more go to corporations as indirect subsidies.
Researchers at the University of Illinois and University of California-Berkeley found that US taxpayers pay a staggering $243 billion each year in indirect subsidies to the fast food industry alone."
"the nation's biggest welfare recipients - rich people and big corporations - are making out like bandits, because the welfare they take isn't for food or housing - it's to increase their profits and wealth.
As Paul Bucheit points out over at Common Dreams, the average US family pays a staggering $6,000 each year in subsidies to big business.
Think about that for a second.
Each year, you're forking over around $6,000 of your hard-earned money to big banks, fossil fuel giants and massive transnational corporations that already rake in billions and billions of dollars in profits.
But you don't see conservatives arguing against that.
So, where is all of that money going?
Of that $6,000, $870 goes to direct subsidies for corporations, including the likes of Exxon, Shell, BP and other fossil fuel giants that are taking our money and destroying our environment at the same time.
Meanwhile, hundreds more go to corporations as indirect subsidies.
Researchers at the University of Illinois and University of California-Berkeley found that US taxpayers pay a staggering $243 billion each year in indirect subsidies to the fast food industry alone."
How American Corporations and the Super Rich Steal From the Rest of Us
http://www.alternet.org/how-american-corporations-and-super-rich-steal-rest-us
"Exxon has almost 80% of its productive oil and gas wells in the U.S. but declared only 17% of its income here. The company used a theoretical tax to account for 83% of last year's income tax bill, and paid less than 2% of its total income in current U.S. taxes."
"Exxon has almost 80% of its productive oil and gas wells in the U.S. but declared only 17% of its income here. The company used a theoretical tax to account for 83% of last year's income tax bill, and paid less than 2% of its total income in current U.S. taxes."
Elizabeth Warren's brainchild continues to show good government in action
http://www.dailykos.com/story/2014/12/29/1352244/-Elizabeth-Warren-s-brainchild-continues-to-show-good-government-in-action
"As of the agency's third birthday back in July, it had recovered more than $4.6 billion—yes billion for consumers harmed by illegal practices by financial institutions.
That's an agency that is really working, that's demonstrating that government is good. No wonder Republicans want to kill it. That, and the fact that it's $4.6 billion less that Wall Street has to spend on them in the next election. Which means it will be another prime target for repeal by the Republican Congress, because there is absolutely no question who Republicans are working for."
"As of the agency's third birthday back in July, it had recovered more than $4.6 billion—yes billion for consumers harmed by illegal practices by financial institutions.
That's an agency that is really working, that's demonstrating that government is good. No wonder Republicans want to kill it. That, and the fact that it's $4.6 billion less that Wall Street has to spend on them in the next election. Which means it will be another prime target for repeal by the Republican Congress, because there is absolutely no question who Republicans are working for."
Michael Grimm’s sick, final con: Using Staten Island voters on his way out the door
Michael Grimm’s sick, final con: Using Staten Island voters on his way out the door
"It will take some time, specifically until the announcement of his criminal sentence, to fully appreciate the snow job Michael Grimm just pulled on Staten Island voters. But we already know plenty enough to call it a criminal’s virtuoso parting heist."
"It will take some time, specifically until the announcement of his criminal sentence, to fully appreciate the snow job Michael Grimm just pulled on Staten Island voters. But we already know plenty enough to call it a criminal’s virtuoso parting heist."
Tuesday, December 30, 2014
Holiday Bright Spots For Progressives
Holiday Bright Spots For Progressives
"Voters Agree With Progressives
The fact is that voters agree with Democrats on most issues. When you word the questions fairly, people want government to fight for them, raise wages, provide a good retirement, protect the environment, make workplaces safe and other items on the progressive policy agenda. They want Social Security expanded. They want help for the less fortunate. They want fair trade agreements instead of job-killing, corporate-favoring trade deals. When you take the word "Obama" out of Obamacare, people even like the components of the new health plan."
"Voters Agree With Progressives
The fact is that voters agree with Democrats on most issues. When you word the questions fairly, people want government to fight for them, raise wages, provide a good retirement, protect the environment, make workplaces safe and other items on the progressive policy agenda. They want Social Security expanded. They want help for the less fortunate. They want fair trade agreements instead of job-killing, corporate-favoring trade deals. When you take the word "Obama" out of Obamacare, people even like the components of the new health plan."
Monday, December 29, 2014
Rep. Michael Grimm (R-NY) To Resign After Felony Plea Deal
Rep. Michael Grimm (R-NY) To Resign After Felony Plea Deal
"Rep. Michael Grimm who plead guilty to one felony count of tax evasion last week, will give up his seat in the House after talking to Speaker Boehner."
"Rep. Michael Grimm who plead guilty to one felony count of tax evasion last week, will give up his seat in the House after talking to Speaker Boehner."
Saturday, December 27, 2014
Think About It: The U.S. is Both the Richest Country and the Most Unequal: 8 Consequences of American Greed
http://www.alternet.org/economy/consequences-american-greed
"America is the richest country in all of history. We have the largest economy and the largest number of millionaires and billionaires. At the same time, we lead the developed world in economic inequality. In 1965, CEOs received $20 for every dollar earned by the average worker. Today the gap is $354 to $1.
These are more than cold statistics. They also tell the story of a nation in serious trouble. Runaway inequality is lacerating the fabric of our society. Here are a few of the festering wounds."
"America is the richest country in all of history. We have the largest economy and the largest number of millionaires and billionaires. At the same time, we lead the developed world in economic inequality. In 1965, CEOs received $20 for every dollar earned by the average worker. Today the gap is $354 to $1.
These are more than cold statistics. They also tell the story of a nation in serious trouble. Runaway inequality is lacerating the fabric of our society. Here are a few of the festering wounds."
Friday, December 26, 2014
The FCC Just Mysteriously Lost Almost 800,000 Net Neutrality Comments
The FCC Just Mysteriously Lost Almost 800,000 Net Neutrality Comments
"These missing comments threaten to drown out the voices of the pro-net neutrality groups yet again, rendering them silent."
"These missing comments threaten to drown out the voices of the pro-net neutrality groups yet again, rendering them silent."
First Order Of Business For New GOP-Led Congress: Cook The Books
First Order Of Business For New GOP-Led Congress: Cook The Books
"Republicans are readying their plans for their new majority, but first they have some tweaks to make in order to cook the books a bit with the CBO. They call it "dynamic scoring", but it's really a way to make tax cuts look awesome while jacking the cost for health care."
"Republicans are readying their plans for their new majority, but first they have some tweaks to make in order to cook the books a bit with the CBO. They call it "dynamic scoring", but it's really a way to make tax cuts look awesome while jacking the cost for health care."
Wednesday, December 24, 2014
Poor, Misunderstood Mr. Potter? Watch Jimmy Kimmel’s Satire Of ‘It’s A Wonderful Life’ (VIDEO)
http://www.addictinginfo.org/2014/12/22/poor-misunderstood-mr-potter-watch-jimmy-kimmels-satire-of-its-a-wonderful-life-video/
"Kimmel and his writers present Mr. Potter as a mistreated, wrongly disliked rich man. A man who has a plan to make Bedford Falls into a “modern entertainment and business mecca” that would create hundreds of new jobs. But one man stands in his way; “Draft-dodger George Bailey.” George, you see, is a [cue scary music] … socialist!"
"Kimmel and his writers present Mr. Potter as a mistreated, wrongly disliked rich man. A man who has a plan to make Bedford Falls into a “modern entertainment and business mecca” that would create hundreds of new jobs. But one man stands in his way; “Draft-dodger George Bailey.” George, you see, is a [cue scary music] … socialist!"
Ayn Rand helped the FBI investigate whether ‘It’s a Wonderful Life’ was commie propaganda
Ayn Rand helped the FBI investigate whether ‘It’s a Wonderful Life’ was commie propaganda
"Since then, the movie has been more than redeemed as it slowly became a sentimental and beloved holiday perennial. And if anything, its portrayal of a villainous banker has been vindicated a thousand fold as in the last seven years we’ve seen fraudulent mortgages and subsequent foreclosures, bankers unrepentant after an unprecedented taxpayer bailout and unpunished after a mindboggling spree of bad calls, profligacy and corkscrew investments that raked in billions while others suffered the consequences."
"Since then, the movie has been more than redeemed as it slowly became a sentimental and beloved holiday perennial. And if anything, its portrayal of a villainous banker has been vindicated a thousand fold as in the last seven years we’ve seen fraudulent mortgages and subsequent foreclosures, bankers unrepentant after an unprecedented taxpayer bailout and unpunished after a mindboggling spree of bad calls, profligacy and corkscrew investments that raked in billions while others suffered the consequences."
Happy Selfish Christmas! 21 Ayn Rand Holiday Cards
http://www.alternet.org/culture/happy-selfish-christmas-21-ayn-rand-holiday-cards
"Some warm and festive cheer from the right-wing author."
"Some warm and festive cheer from the right-wing author."
The Perpetual Conservative Hissyfit: “If Liberals Are For It, I’m Against It!”
The Perpetual Conservative Hissyfit: “If Liberals Are For It, I’m Against It!”
"the blatant hypocrisy and “whatever Obama says, I’m against it” behavior from the right is both staggering, and sadly effective when you realize how many people continue to vote against their self-interests."
"the blatant hypocrisy and “whatever Obama says, I’m against it” behavior from the right is both staggering, and sadly effective when you realize how many people continue to vote against their self-interests."
U.S. economy grew 5% in third quarter — fastest rate in 11 years
U.S. economy grew 5% in third quarter — fastest rate in 11 years
"The 5 percent third quarter growth rate came after GDP grew 4.6 percent in the second quarter. The economy has now had its strongest consecutive quarters of growth since 2003."
"The 5 percent third quarter growth rate came after GDP grew 4.6 percent in the second quarter. The economy has now had its strongest consecutive quarters of growth since 2003."
Thanks, Obama! Economy Surges Forward As GDP Growth Fastest In More Than A Decade
http://www.politicususa.com/2014/12/23/thanks-obama-economy-surges-gdp-growth-fastest-decade.html
"This is just the latest in a string of good economic news for this current administration. Currently, the unemployment rate is at 5.8%, and job growth is at its strongest level since the Clinton Administration. Low gas prices are allowing consumers to spend more money elsewhere. While wages aren’t rising as fast as they should, they are finally moving up. Overall, Obama’s economy is humming along and is actually an improvement over the campaign promises from Mitt Romney in 2012."
"This is just the latest in a string of good economic news for this current administration. Currently, the unemployment rate is at 5.8%, and job growth is at its strongest level since the Clinton Administration. Low gas prices are allowing consumers to spend more money elsewhere. While wages aren’t rising as fast as they should, they are finally moving up. Overall, Obama’s economy is humming along and is actually an improvement over the campaign promises from Mitt Romney in 2012."
Kansas academic petitions judge to keep Koch brothers correspondence sealed
Kansas academic petitions judge to keep Koch brothers correspondence sealed
"An academic at the University of Kansas has petitioned a judge to prevent his correspondence with his benefactors, foundations set up by the billionaire Koch brothers, from being made public under freedom of information laws.
Dr Arthur Hall, founder and director of the Center for Applied Economics at the university’s business school in Lawrence, Kansas is locked in a bitter fight with students who want to extract the documents as part of their exploration of potential conflicts of interest involving the Kochs."
"An academic at the University of Kansas has petitioned a judge to prevent his correspondence with his benefactors, foundations set up by the billionaire Koch brothers, from being made public under freedom of information laws.
Dr Arthur Hall, founder and director of the Center for Applied Economics at the university’s business school in Lawrence, Kansas is locked in a bitter fight with students who want to extract the documents as part of their exploration of potential conflicts of interest involving the Kochs."
New Jersey Poised to Pass Legislation That Would Speed Water Privatization
New Jersey Poised to Pass Legislation That Would Speed Water Privatization
"The Herald reports that sales of municipal water systems to private entities would be fast-tracked because the bill would eliminate "a mandatory public vote on such deals and reduc[e] oversight of the sale price by the state Board of Public Utilities"."
"The Herald reports that sales of municipal water systems to private entities would be fast-tracked because the bill would eliminate "a mandatory public vote on such deals and reduc[e] oversight of the sale price by the state Board of Public Utilities"."
As Income Inequality Rises, America’s Middle Class Shrinks
https://www.americanprogress.org/issues/economy/news/2014/12/18/101790/as-income-inequality-rises-americas-middle-class-shrinks/
"America needs a vibrant and prosperous middle class to drive economic growth. Unfortunately, with the increasing economic inequality of the past several decades, the United States has become less of a middle-class nation, and those in the middle have found themselves increasingly financially squeezed and struggling to get by."
"America needs a vibrant and prosperous middle class to drive economic growth. Unfortunately, with the increasing economic inequality of the past several decades, the United States has become less of a middle-class nation, and those in the middle have found themselves increasingly financially squeezed and struggling to get by."
The Wealth Gap Between Rich And Poor Is The Widest Ever Recorded
http://thinkprogress.org/economy/2014/12/18/3605137/us-wealth-gap-at-its-widest-in-decades/
"The wealth disparity between upper and middle income Americans has hit a record high, according to a new Pew Research Center Report. On average, today’s upper-income families are almost seven times wealthier than middle-income ones, compared to 3.4 times wealthier in 1984. When compared to lower income family wealth, upper income family wealth is 70 times larger.
It has come to the point where only the top 10 percent of Americans are seeing their wealth grow while the bottom 90 get less and less of the pie each year. The driving force of this wealth chasm are the top 0.1 percent, who have seen their share of the nation’s wealth grow the most over the past decades, from 7 percent in 1979 to 22 percent today. In fact, the top 0.1 percent are now worth more than the entire bottom 90 percent of the U.S. population, according to the report, which adjusts for the shrinking size of the American family so as to enable comparisons across time periods."
"The wealth disparity between upper and middle income Americans has hit a record high, according to a new Pew Research Center Report. On average, today’s upper-income families are almost seven times wealthier than middle-income ones, compared to 3.4 times wealthier in 1984. When compared to lower income family wealth, upper income family wealth is 70 times larger.
It has come to the point where only the top 10 percent of Americans are seeing their wealth grow while the bottom 90 get less and less of the pie each year. The driving force of this wealth chasm are the top 0.1 percent, who have seen their share of the nation’s wealth grow the most over the past decades, from 7 percent in 1979 to 22 percent today. In fact, the top 0.1 percent are now worth more than the entire bottom 90 percent of the U.S. population, according to the report, which adjusts for the shrinking size of the American family so as to enable comparisons across time periods."
9 Signs the Kochs Have Created Their Own National Political Party
http://www.alternet.org/tea-party-and-right/9-signs-kochs-have-created-their-own-national-political-party
"If you want to see how super-wealthy citizens and private corporations are using private money and secretive tactics to gain and consolidate their power and influence, pushing agendas that often prey on middle- and working-class Americans—look no further. Here are nine hallmarks of the Koch Party."
"If you want to see how super-wealthy citizens and private corporations are using private money and secretive tactics to gain and consolidate their power and influence, pushing agendas that often prey on middle- and working-class Americans—look no further. Here are nine hallmarks of the Koch Party."
Republican congressman Michael Grimm pleads guilty to tax evasion but won't resign from office
http://www.dailykos.com/story/2014/12/23/1353798/-Republican-congressman-Michael-Grim-pleads-guilty-to-tax-evasion-but-won-t-resign-from-office
"Grimm quickly declared that he would not resign from the House, despite previously promising to leave if convicted."
"Grimm quickly declared that he would not resign from the House, despite previously promising to leave if convicted."
Rep. Grimm To Plead Guilty To One Felony Count
Rep. Grimm To Plead Guilty To One Felony Count
"the guy's a former FBI agent, they should throw the book at him with the maximum sentence. But I'll be very surprised if this guy serves even a day. Hell, they'll probably give him his own Fox show!"
"the guy's a former FBI agent, they should throw the book at him with the maximum sentence. But I'll be very surprised if this guy serves even a day. Hell, they'll probably give him his own Fox show!"
Monday, December 22, 2014
Saturday, December 20, 2014
Time for some Made in America holiday shopping
http://www.dailykos.com/story/2014/12/20/1348913/-Time-for-some-Made-in-America-holiday-shopping
"Buying American-made products is a great way to support the American economy and jobs."
"Buying American-made products is a great way to support the American economy and jobs."
Who's Afraid of Shareholder Democracy?
http://truth-out.org/news/item/28126-who-s-afraid-of-shareholder-democracy
"The U.S. Chamber of Commerce, one of biggest corporate trade associations, and ALEC, one of biggest corporate lobbying groups are both startlingly hostile to shareholders. At two recent meetings in Washington DC, these two powerful groups -- who frequently hold themselves out as speaking for the business community -- grumbled about shareholders being too pushy.
In particular ALEC and the Chamber don't like that one of the top topics of shareholder resolutions over the past few years has been transparency of political spending both in elections and in lobbying expenditures."
"The U.S. Chamber of Commerce, one of biggest corporate trade associations, and ALEC, one of biggest corporate lobbying groups are both startlingly hostile to shareholders. At two recent meetings in Washington DC, these two powerful groups -- who frequently hold themselves out as speaking for the business community -- grumbled about shareholders being too pushy.
In particular ALEC and the Chamber don't like that one of the top topics of shareholder resolutions over the past few years has been transparency of political spending both in elections and in lobbying expenditures."
Republicans welcome a flood of lobbyists to Capitol Hill
http://www.dailykos.com/story/2014/12/19/1352914/-Republicans-welcome-a-flood-of-lobbyists-to-Capitol-Hill
"if you were outraged that Citigroup basically wrote the Wall Street bailout provision in the spending bill that passed last week, prepare for a lot more like that."
"if you were outraged that Citigroup basically wrote the Wall Street bailout provision in the spending bill that passed last week, prepare for a lot more like that."
Someone Just Bet $1 Million You’re Still Ready For Romney
Someone Just Bet $1 Million You’re Still Ready For Romney
"a Ready For Romney super PAC with an accompanying web site launched this week. It’s headed by someone named Jeffrey Goff, who a quick FEC disclosure search reveals matches the name of several former low-level Romney donors. People linked to the Romney campaign seem not to know who this is, but The Weekly Standard does report the website was designed by a teenager for $300.
By all looks, the website is not worth that $300. (Sorry, kid.) But it does look about the way you’d expect Mitt Romney’s website to look"
"a Ready For Romney super PAC with an accompanying web site launched this week. It’s headed by someone named Jeffrey Goff, who a quick FEC disclosure search reveals matches the name of several former low-level Romney donors. People linked to the Romney campaign seem not to know who this is, but The Weekly Standard does report the website was designed by a teenager for $300.
By all looks, the website is not worth that $300. (Sorry, kid.) But it does look about the way you’d expect Mitt Romney’s website to look"
Sanders Slams GOP For Maneuvering to Slash Social Security and Medicare
Sanders Slams GOP For Maneuvering to Slash Social Security and Medicare
"U.S. Sen. Bernie Sanders (I-Vt.) on Friday slammed the GOP for jockeying to slash Social Security and Medicare in the next Congress, denouncing the plan as a "moral outrage"."
"U.S. Sen. Bernie Sanders (I-Vt.) on Friday slammed the GOP for jockeying to slash Social Security and Medicare in the next Congress, denouncing the plan as a "moral outrage"."
Friday, December 19, 2014
You Can’t Handle The Truthiness: Saying Goodbye To ‘Stephen Colbert’
http://thinkprogress.org/culture/2014/12/19/3605642/the-truthiness-hurts-saying-goodbye-to-stephen-colbert/
"What started as a pointed satire of Bill O’Reilly’s show quickly evolved into a weird, wonderful entity unto itself."
"What started as a pointed satire of Bill O’Reilly’s show quickly evolved into a weird, wonderful entity unto itself."
Stephen Colbert Goes Out With A Bang in Amazing Final Segment of ‘The Colbert Report’ (Video)
Stephen Colbert Goes Out With A Bang in Amazing Final Segment of ‘The Colbert Report’ (Video)
"For nearly a decade, his show featured a man pretending to be another man who was essentially mocking another man – Fox News’ Bill O’Reilly."
"For nearly a decade, his show featured a man pretending to be another man who was essentially mocking another man – Fox News’ Bill O’Reilly."
5 Worst Republican Lies About Income Inequality
http://www.alternet.org/news-amp-politics/5-worst-republican-lies-about-income-inequality
"Since 1980, the income of the bottom 90 percent of Americans has increased a meager $303 or 1 percent. The top 1 percent’s income has more than doubled, increasing by about $500,000. And the really, really rich, the top 10th of 1 percent, made out, dare I say, like bandits, quadrupling their income to $22 million.
Meanwhile a full-time worker’s wage was 11 percent lower in 2004 than in 1973, adjusting for inflation even though their productivity increased by 78 percent. Productivity gains swelled corporate profits, which reached an all time high in 2010. And that in turn fueled an unprecedented inequality within the workplace itself. In 2010, according to the Institute for Policy Studies, the average CEO in large companies earned 325 times more than the average worker."
"Since 1980, the income of the bottom 90 percent of Americans has increased a meager $303 or 1 percent. The top 1 percent’s income has more than doubled, increasing by about $500,000. And the really, really rich, the top 10th of 1 percent, made out, dare I say, like bandits, quadrupling their income to $22 million.
Meanwhile a full-time worker’s wage was 11 percent lower in 2004 than in 1973, adjusting for inflation even though their productivity increased by 78 percent. Productivity gains swelled corporate profits, which reached an all time high in 2010. And that in turn fueled an unprecedented inequality within the workplace itself. In 2010, according to the Institute for Policy Studies, the average CEO in large companies earned 325 times more than the average worker."
The 6-Step Process to Dispose of the Poor Half of America
http://www.alternet.org/economy/6-step-process-dispose-poor-half-america
"Based on inflation, the minimum wage should be nearly three times its current level. An investor report from J.P. Morgan noted a direct correlation between record profits and cutbacks in wages."
"Based on inflation, the minimum wage should be nearly three times its current level. An investor report from J.P. Morgan noted a direct correlation between record profits and cutbacks in wages."
Bernie Sanders: Destroy the big banks before the big banks destroy you
Bernie Sanders: Destroy the big banks before the big banks destroy you
"Sen. Bernie Sanders (I-VT) plans a legislative push for the breakup of Wall Street’s largest banks and lifting the cap on contributions to Social Security.
“If Congress cannot regulate Wall Street, there is just one alternative,” said Sanders in a speech Saturday. “It is time to break these too-big-to-fail banks up so that they can never again destroy the jobs, homes, and life savings of the American people"."
"Sen. Bernie Sanders (I-VT) plans a legislative push for the breakup of Wall Street’s largest banks and lifting the cap on contributions to Social Security.
“If Congress cannot regulate Wall Street, there is just one alternative,” said Sanders in a speech Saturday. “It is time to break these too-big-to-fail banks up so that they can never again destroy the jobs, homes, and life savings of the American people"."
Thursday, December 18, 2014
Absurd Fox News Host Tries to Attack Elizabeth Warren, Defend Wall Street (Video)
Absurd Fox News Host Tries to Attack Elizabeth Warren, Defend Wall Street (Video)
"Of course people in the financial industry and Wall Street think Warren is “the devil” – she’s leading the charge to put an end to b.s. they’ve been getting away with far too long. I’m sure big tobacco thought the same thing about politicians who went after big tobacco decades ago for lying to the American public. Anyone, or group, is always going to think those trying to expose their lies are “the devil” because the last thing they want to do is be exposed or have action taken against them. Though it’s clear Francis is nothing but a shill for Wall Street. But excuse me if I’m not overly concerned, nor do I care, about the opinions of individuals who work for one of the most corrupt and unethical sectors in all of our economy. Wall Street is essentially nothing more than an elaborate version of Las Vegas where the powerful, rich and big banks treat the American people, and our economy, like high stakes poker.
Except when they lose, they don’t actually lose – we do."
"Of course people in the financial industry and Wall Street think Warren is “the devil” – she’s leading the charge to put an end to b.s. they’ve been getting away with far too long. I’m sure big tobacco thought the same thing about politicians who went after big tobacco decades ago for lying to the American public. Anyone, or group, is always going to think those trying to expose their lies are “the devil” because the last thing they want to do is be exposed or have action taken against them. Though it’s clear Francis is nothing but a shill for Wall Street. But excuse me if I’m not overly concerned, nor do I care, about the opinions of individuals who work for one of the most corrupt and unethical sectors in all of our economy. Wall Street is essentially nothing more than an elaborate version of Las Vegas where the powerful, rich and big banks treat the American people, and our economy, like high stakes poker.
Except when they lose, they don’t actually lose – we do."
Fox Shows The Extent Of Conservative Fear Of Elizabeth Warren (VIDEO)
http://samuel-warde.com/2014/12/fox-shows-extent-conservative-fear-elizabeth-warren-video/
"Of course O’Reilly is trying his best to defame Warren and as you’ll see he throws several outright lies into his diatribe. But if this shows us anything, it shows that Conservatives must really be afraid of her. And what that really means is that Elizabeth Warren is surely doing something right!"
"Of course O’Reilly is trying his best to defame Warren and as you’ll see he throws several outright lies into his diatribe. But if this shows us anything, it shows that Conservatives must really be afraid of her. And what that really means is that Elizabeth Warren is surely doing something right!"
Sanders Has a Couple More Good Ideas: Break Up Big Banks, Expand Social Security
Sanders Has a Couple More Good Ideas: Break Up Big Banks, Expand Social Security
"Sen. Bernie Sanders (I-Vt.) has announced his intention to push for new pieces of legislation in the next session, one of which would break up the nation's largest Wall Street banks and another that would expand the Social Security program for all Americans."
"Sen. Bernie Sanders (I-Vt.) has announced his intention to push for new pieces of legislation in the next session, one of which would break up the nation's largest Wall Street banks and another that would expand the Social Security program for all Americans."
Elizabeth Warren Just Gave One of the Best Speeches That I’ve Ever Seen (Video)
Elizabeth Warren Just Gave One of the Best Speeches That I’ve Ever Seen (Video)
"I just don’t see how any rational person could be against what she said. We’re not talking about partisan politics, this is just common sense stuff. I’m not sure why anyone would honestly believe that it’s a good idea to have one of the most corrupt institutions in this country, the financial sector, directly influencing (or damn near writing it themselves) legislation that makes it easier for them to pull the same kind of bullsh*t they pulled prior to our 2008 economic collapse. That’s like giving a burglar the password to the alarm and keys to your house. It makes absolutely no sense."
"I just don’t see how any rational person could be against what she said. We’re not talking about partisan politics, this is just common sense stuff. I’m not sure why anyone would honestly believe that it’s a good idea to have one of the most corrupt institutions in this country, the financial sector, directly influencing (or damn near writing it themselves) legislation that makes it easier for them to pull the same kind of bullsh*t they pulled prior to our 2008 economic collapse. That’s like giving a burglar the password to the alarm and keys to your house. It makes absolutely no sense."
Elizabeth Warren Offers 9 Damned Good Reasons to Split Citibank into Pieces
http://www.alternet.org/economy/elizabeth-warren-offers-9-damned-good-reasons-split-citibank-pieces
"Citigroup spends millions to get billions from taxpayers"
"Citigroup spends millions to get billions from taxpayers"
Sunday, December 14, 2014
Lindsey Graham: Elizabeth Warren Is ‘The Problem’ With Our Government
Lindsey Graham: Elizabeth Warren Is ‘The Problem’ With Our Government
"of course she is – she’s “the problem” for senators like Graham who are nothing but shills for these corrupt financial institutions. These are the people who are directly responsible for our economic crash, yet jackasses like Graham are desperately doing anything and everything they can to help ensure that they’re allowed to do it again."
"of course she is – she’s “the problem” for senators like Graham who are nothing but shills for these corrupt financial institutions. These are the people who are directly responsible for our economic crash, yet jackasses like Graham are desperately doing anything and everything they can to help ensure that they’re allowed to do it again."
How Ayn Rand Helped Turn the U.S. Into a Selfish, Greedy Nation
http://www.alternet.org/culture/how-ayn-rand-helped-turn-us-selfish-greedy-nation
"Rand’s impact has been widespread and deep. At the iceberg’s visible tip is the influence she’s had over major political figures who have shaped American society. In the 1950s, Ayn Rand read aloud drafts of what was later to become Atlas Shrugged to her “Collective,” Rand’s ironic nickname for her inner circle of young individualists, which included Alan Greenspan, who would serve as chairman of the Federal Reserve Board from 1987 to 2006.
In 1966, Ronald Reagan wrote in a personal letter, “Am an admirer of Ayn Rand.” Today, Rep. Paul Ryan (R-WI) credits Rand for inspiring him to go into politics, and Sen. Ron Johnson (R-WI) calls Atlas Shrugged his “foundation book.” Rep. Ron Paul (R-TX) says Ayn Rand had a major influence on him, and his son Sen. Rand Paul (R-KY) is an even bigger fan. A short list of other Rand fans includes Supreme Court Justice Clarence Thomas; Christopher Cox, chairman of the Security and Exchange Commission in George W. Bush’s second administration; and former South Carolina governor Mark Sanford.
But Rand’s impact on U.S. society and culture goes even deeper."
"Rand’s impact has been widespread and deep. At the iceberg’s visible tip is the influence she’s had over major political figures who have shaped American society. In the 1950s, Ayn Rand read aloud drafts of what was later to become Atlas Shrugged to her “Collective,” Rand’s ironic nickname for her inner circle of young individualists, which included Alan Greenspan, who would serve as chairman of the Federal Reserve Board from 1987 to 2006.
In 1966, Ronald Reagan wrote in a personal letter, “Am an admirer of Ayn Rand.” Today, Rep. Paul Ryan (R-WI) credits Rand for inspiring him to go into politics, and Sen. Ron Johnson (R-WI) calls Atlas Shrugged his “foundation book.” Rep. Ron Paul (R-TX) says Ayn Rand had a major influence on him, and his son Sen. Rand Paul (R-KY) is an even bigger fan. A short list of other Rand fans includes Supreme Court Justice Clarence Thomas; Christopher Cox, chairman of the Security and Exchange Commission in George W. Bush’s second administration; and former South Carolina governor Mark Sanford.
But Rand’s impact on U.S. society and culture goes even deeper."
Saturday, December 13, 2014
Elizabeth Warren's Searing Anti-Wall Street Speech Struck A GOP Nerve
http://talkingpointsmemo.com/dc/elizabeth-warren-lindsey-graham-citigroup-funding-bill
"Sen. Elizabeth Warren (D-MA) managed to get under Sen. Lindsey Graham's (R-SC) skin with a speech Friday night bashing CitiGroup's deep ties to Washington"
"Sen. Elizabeth Warren (D-MA) managed to get under Sen. Lindsey Graham's (R-SC) skin with a speech Friday night bashing CitiGroup's deep ties to Washington"
Elizabeth Warren Has Shifted Democratic Senate Power To The Liberals
http://www.politicususa.com/2014/12/12/elizabeth-warren-shifted-focus-democratic-senate-power-liberals.html
"Between Elizabeth Warren, Bernie Sanders, and Sherrod Brown the liberals are displaying their strength in the Senate. One of the advantages of having a smaller Democratic Senate caucus is that the liberals will now play a larger role."
"Between Elizabeth Warren, Bernie Sanders, and Sherrod Brown the liberals are displaying their strength in the Senate. One of the advantages of having a smaller Democratic Senate caucus is that the liberals will now play a larger role."
Li'l Luke Russert Sneers At Elizabeth Warren On Air
Li'l Luke Russert Sneers At Elizabeth Warren On Air
"Watch Li'l Luke Russert sneer at Elizabeth Warren and call her a purity troll for daring to stand up for ordinary people instead of Wall Street's interests."
"Watch Li'l Luke Russert sneer at Elizabeth Warren and call her a purity troll for daring to stand up for ordinary people instead of Wall Street's interests."
Elizabeth Warren to Citigroup: Dodd-Frank 'should have broken you into pieces'
http://www.dailykos.com/story/2014/12/12/1351456/-Elizabeth-Warren-to-Citigroup-Dodd-Frank-should-have-broken-you-into-pieces
"She also found a point of agreement between conservatives and progressives.
"Democrats don't like Wall Street bailouts; Republicans don't like Wall Street bailouts; the American people are disgusted by Wall Street bailouts," she said. Yet Congress is on verge of passing a bill that will do nothing for middle-class Americans, she said, "but raise the risk that taxpayers will have to bail out the biggest banks once again"."
"She also found a point of agreement between conservatives and progressives.
"Democrats don't like Wall Street bailouts; Republicans don't like Wall Street bailouts; the American people are disgusted by Wall Street bailouts," she said. Yet Congress is on verge of passing a bill that will do nothing for middle-class Americans, she said, "but raise the risk that taxpayers will have to bail out the biggest banks once again"."
Friday, December 12, 2014
Republican Nightmares Come True As Bernie Sanders Gets A Big Promotion In The Senate
http://www.politicususa.com/2014/12/12/republican-nightmares-true-bernie-sanders-big-promotion-senate.html
"Bernie Sanders will now be in a position to be a major pain in the neck to the Koch brothers and the Republicans that they fund."
"Bernie Sanders will now be in a position to be a major pain in the neck to the Koch brothers and the Republicans that they fund."
How Citigroup Lobbyists And JP Morgan’s CEO Just Took Public Oversight Of Wall Street Back 14 Years
http://thinkprogress.org/economy/2014/12/12/3603194/dodd-frank-cromulent-phil-gramm/
"The idea was to gain additional leverage for a controversial deregulatory measure by attaching it to much bigger legislation that funds basic government services, in hopes of quieting opponents. Republicans worked with the lobbyists, according to Politico, beginning with a June hearing of the Appropriations Committee.
At that hearing, Rep. Kevin Yoder (R-KS) proposed the amendment that would later find its way into the “cromnibus.” When one Democrat objected, asking why a body that has always decried making policy in spending bills would adopt that approach on behalf of Wall Street’s interests, Chairman Hal Rodgers (R-KS) joked, “Just because.” Then Rep. Marcy Kaptur (D-OH) pointed out that tucking controversial deregulatory measures into spending bills played a big role in bringing about the financial crisis that had precipitated the reforms Yoder was seeking to undercut.
“I think what the gentleman is trying to do is really dangerous,” Kaptur said, “and it doesn’t belong in this committee.”
Yoder’s amendment was approved without a formal, recorded vote. The success appears to have emboldened lobbyists, who redoubled their efforts to wedge the measure into spending bills beginning in September according to Politico’s sources. Now the Citigroup-written, Yoder-deployed measure is days away from becoming law."
"The idea was to gain additional leverage for a controversial deregulatory measure by attaching it to much bigger legislation that funds basic government services, in hopes of quieting opponents. Republicans worked with the lobbyists, according to Politico, beginning with a June hearing of the Appropriations Committee.
At that hearing, Rep. Kevin Yoder (R-KS) proposed the amendment that would later find its way into the “cromnibus.” When one Democrat objected, asking why a body that has always decried making policy in spending bills would adopt that approach on behalf of Wall Street’s interests, Chairman Hal Rodgers (R-KS) joked, “Just because.” Then Rep. Marcy Kaptur (D-OH) pointed out that tucking controversial deregulatory measures into spending bills played a big role in bringing about the financial crisis that had precipitated the reforms Yoder was seeking to undercut.
“I think what the gentleman is trying to do is really dangerous,” Kaptur said, “and it doesn’t belong in this committee.”
Yoder’s amendment was approved without a formal, recorded vote. The success appears to have emboldened lobbyists, who redoubled their efforts to wedge the measure into spending bills beginning in September according to Politico’s sources. Now the Citigroup-written, Yoder-deployed measure is days away from becoming law."
Citigroup Wrote the Wall Street Giveaway The House Just Approved
http://www.motherjones.com/politics/2014/12/spending-bill-992-derivatives-citigroup-lobbyists
"The Citi-drafted legislation will benefit five of the largest banks in the country—Citigroup, JPMorgan Chase, Goldman Sachs, Bank of America, and Wells Fargo. These financial institutions control more than 90 percent of the $700 trillion derivatives market. If this measure becomes law, these banks will be able to use FDIC-insured money to bet on nearly anything they want. And if there's another economic downturn, they can count on a taxpayer bailout of their derivatives trading business."
"The Citi-drafted legislation will benefit five of the largest banks in the country—Citigroup, JPMorgan Chase, Goldman Sachs, Bank of America, and Wells Fargo. These financial institutions control more than 90 percent of the $700 trillion derivatives market. If this measure becomes law, these banks will be able to use FDIC-insured money to bet on nearly anything they want. And if there's another economic downturn, they can count on a taxpayer bailout of their derivatives trading business."
Bernie Sanders Stands Up To Wall Street And The Kochs While Ripping Cromnibus Bill
http://www.politicususa.com/2014/12/11/bernie-sanders-promises-vote-insanely-bad-government-funding-bill.html
"Between the gift to Wall Street and the continued rollback of campaign finance laws, this is a bad piece of legislation."
"Between the gift to Wall Street and the continued rollback of campaign finance laws, this is a bad piece of legislation."
N.J. Pension Funds To Sue Christie Over $2.4B Money Grab
N.J. Pension Funds To Sue Christie Over $2.4B Money Grab
"Christie agreed to increase payments into the system in return for a reform package that raised the retirement age from 62 to 65, eliminated cost-of-living increases for retirees, and required workers to contribute more toward their pensions and health benefits.
But instead of pumping in extra money, Christie grabbed $2.4 billion from pension payments to balance budgets over two years after revenue collections fell far short of projections."
"Christie agreed to increase payments into the system in return for a reform package that raised the retirement age from 62 to 65, eliminated cost-of-living increases for retirees, and required workers to contribute more toward their pensions and health benefits.
But instead of pumping in extra money, Christie grabbed $2.4 billion from pension payments to balance budgets over two years after revenue collections fell far short of projections."
Rick Perry: The Bible proves that poverty is inevitable
Rick Perry: The Bible proves that poverty is inevitable
"Texas may have the country’s highest rate of people who lack health insurance and rank in the top 10 states with the highest poverty levels, but Gov. Rick Perry can’t be bothered."
"Texas may have the country’s highest rate of people who lack health insurance and rank in the top 10 states with the highest poverty levels, but Gov. Rick Perry can’t be bothered."
Thursday, December 11, 2014
Congress Is Showing How Eager It Is To Gut Financial Reform
http://thinkprogress.org/economy/2014/12/11/3602761/wall-street-reform-under-attack/
"The plan to tie financial de-regulation to the funding bill is part of a strategy by Wall Street’s allies in Congress to use any leverage necessary to weaken oversight of our financial institutions. As one senior GOP aide explained, “The regulatory reforms in the cromnibus [funding bill] are the first cracks in the Dodd-Frank armor…. If liberal Democrats vote for this package it shows that conservatives can use must pass legislation to repeal the regulatory state.”
This strategy is on display elsewhere in Congress this week. Rep. Jeb Hensarling (R-TX), chairman of the House Committee that has oversight over our financial system, is insisting that any extension of Terrorism Risk Insurance include an unrelated provision that will weaken separate Dodd-Frank reforms intended to make swaps trades less risky."
"The plan to tie financial de-regulation to the funding bill is part of a strategy by Wall Street’s allies in Congress to use any leverage necessary to weaken oversight of our financial institutions. As one senior GOP aide explained, “The regulatory reforms in the cromnibus [funding bill] are the first cracks in the Dodd-Frank armor…. If liberal Democrats vote for this package it shows that conservatives can use must pass legislation to repeal the regulatory state.”
This strategy is on display elsewhere in Congress this week. Rep. Jeb Hensarling (R-TX), chairman of the House Committee that has oversight over our financial system, is insisting that any extension of Terrorism Risk Insurance include an unrelated provision that will weaken separate Dodd-Frank reforms intended to make swaps trades less risky."
Congress to Reinstate Taxpayer Subsidies for Reckless Derivatives Trading
Congress to Reinstate Taxpayer Subsidies for Reckless Derivatives Trading
"After reckless derivatives trading helped bring the global economy to its knees in 2008, prompting a Congressional bailout worth some $700 billion and Federal Reserve emergency loans worth trillions, Section 716 was implemented "as a commonsense provision to protect taxpayers from future derivatives deals gone awry," says economist Simon Johnson. The measure took "the state out of subsidizing some of these particularly high risk derivatives."
But America's "too big to fail" banks desperately want to continue business as usual. Citi, which itself was rescued by taxpayers to the tune of $100 billion in Federal Reserve loans, wrote the provision, says the New York Times.
You remember Citi: the behemoth bank was instrumental in killing the Glass-Steagall law that for 60 years separated everyday banking from high-stakes, high-speed trading. Citibank merged with Travelers Insurance to form Citigroup in 1998, and later became one of the first too-big-to-fail banks to collapse in the financial crisis.
The Times detailed that "Citigroup's recommendations were reflected in more than 70 lines of the House committee's 85-line bill. Two crucial paragraphs, prepared by Citigroup in conjunction with other Wall Street banks, were copied nearly word for word."
"After reckless derivatives trading helped bring the global economy to its knees in 2008, prompting a Congressional bailout worth some $700 billion and Federal Reserve emergency loans worth trillions, Section 716 was implemented "as a commonsense provision to protect taxpayers from future derivatives deals gone awry," says economist Simon Johnson. The measure took "the state out of subsidizing some of these particularly high risk derivatives."
But America's "too big to fail" banks desperately want to continue business as usual. Citi, which itself was rescued by taxpayers to the tune of $100 billion in Federal Reserve loans, wrote the provision, says the New York Times.
You remember Citi: the behemoth bank was instrumental in killing the Glass-Steagall law that for 60 years separated everyday banking from high-stakes, high-speed trading. Citibank merged with Travelers Insurance to form Citigroup in 1998, and later became one of the first too-big-to-fail banks to collapse in the financial crisis.
The Times detailed that "Citigroup's recommendations were reflected in more than 70 lines of the House committee's 85-line bill. Two crucial paragraphs, prepared by Citigroup in conjunction with other Wall Street banks, were copied nearly word for word."
Warren: CitiGroup 'Literally' Wrote Last-Minute Budget Bill Provision
Warren: CitiGroup 'Literally' Wrote Last-Minute Budget Bill Provision
"The provision, which Warren said was added by surprise, would eliminate a requirement under the Dodd-Frank financial reform law that banks trade financial derivatives separately from regular bank accounts, which are protected through the Federal Deposit Insurance Corporation (FDIC)."
"The provision, which Warren said was added by surprise, would eliminate a requirement under the Dodd-Frank financial reform law that banks trade financial derivatives separately from regular bank accounts, which are protected through the Federal Deposit Insurance Corporation (FDIC)."
Why right-to-work-for-less is stupid for Wisconsin- and everywhere else
http://www.dailykos.com/story/2014/12/04/1349524/-Why-right-to-work-for-less-is-stupid-for-Wisconsin-and-everywhere-else
"one look at the economic figures would tell you that states that have right-to-work-for-less laws generally end up worse off than states who don't, with lower wages for their workers. And low wages are Wisconsin's biggest economic PROBLEM, and doubling down on that trend isn't really the way to solve it."
"one look at the economic figures would tell you that states that have right-to-work-for-less laws generally end up worse off than states who don't, with lower wages for their workers. And low wages are Wisconsin's biggest economic PROBLEM, and doubling down on that trend isn't really the way to solve it."
How The U.S. Supreme Court Turned Into A Corporate Echo Chamber
How The U.S. Supreme Court Turned Into A Corporate Echo Chamber
"A Reuters examination of nine years of cases shows that 66 of the 17,000 lawyers who petitioned the Supreme Court succeeded at getting their clients' appeals heard at a remarkable rate. Their appeals were at least six times more likely to be accepted by the court than were all others filed by private lawyers during that period.
The lawyers are the most influential members of one of the most powerful specialties in America: the business of practicing before the Supreme Court. None of these lawyers is a household name. But many are familiar to the nine justices. That's because about half worked for justices past or present, and some socialize with them.
They are the elite of the elite: Although they account for far less than 1 percent of lawyers who filed appeals to the Supreme Court, these attorneys were involved in 43 percent of the cases the high court chose to decide from 2004 through 2012."
"A Reuters examination of nine years of cases shows that 66 of the 17,000 lawyers who petitioned the Supreme Court succeeded at getting their clients' appeals heard at a remarkable rate. Their appeals were at least six times more likely to be accepted by the court than were all others filed by private lawyers during that period.
The lawyers are the most influential members of one of the most powerful specialties in America: the business of practicing before the Supreme Court. None of these lawyers is a household name. But many are familiar to the nine justices. That's because about half worked for justices past or present, and some socialize with them.
They are the elite of the elite: Although they account for far less than 1 percent of lawyers who filed appeals to the Supreme Court, these attorneys were involved in 43 percent of the cases the high court chose to decide from 2004 through 2012."
Wednesday, December 10, 2014
Elizabeth Warren blasts Wall Street sweetheart deal in spending bill
http://www.dailykos.com/story/2014/12/10/1350800/-Elizabeth-Warren-blasts-Wall-Street-sweetheart-deal-in-spending-bill
"Sen. Elizabeth Warren is not happy about the plan to weaken regulation of big banks that Republicans managed to insert in the spending bill."
"Sen. Elizabeth Warren is not happy about the plan to weaken regulation of big banks that Republicans managed to insert in the spending bill."
Elizabeth Warren Rips Wall Street and Shreds House GOP Over Government Funding Bill
http://www.politicususa.com/2014/12/10/elizabeth-warren-rips-wall-street-shreds-house-gop-government-funding-bill.html
Warren said, "Now, the House of Representatives is about to show us the worst of government for the rich and powerful. The House is about to vote on a budget deal. A deal negotiated behind closed doors that slips in a provision that would let derivatives traders on Wall Street gamble with taxpayer money and get bailed out by the government when their risky bets threaten to blow up our financial system. These are the same banks that nearly broke the economy in 2008 and destroyed millions of jobs.
And now, no debate and no discussion, Republicans in the House of Representatives are threatening to shut down the government if they don’t get a chance to repeal it. That raises a simple question. Why? If this rule brings more stability to our financial system. If this rule helps prevent future government bailouts. Why in the world would anyone want to repeal it? Let alone hold the entire government hostage to ram through this appeal. The reason unfortunately is simple. It’s about money, and it’s about power. Because while this legal change could pose serious risks to our entire economy, it will also make a lot of money for a handful of our biggest banks."
Warren said, "Now, the House of Representatives is about to show us the worst of government for the rich and powerful. The House is about to vote on a budget deal. A deal negotiated behind closed doors that slips in a provision that would let derivatives traders on Wall Street gamble with taxpayer money and get bailed out by the government when their risky bets threaten to blow up our financial system. These are the same banks that nearly broke the economy in 2008 and destroyed millions of jobs.
And now, no debate and no discussion, Republicans in the House of Representatives are threatening to shut down the government if they don’t get a chance to repeal it. That raises a simple question. Why? If this rule brings more stability to our financial system. If this rule helps prevent future government bailouts. Why in the world would anyone want to repeal it? Let alone hold the entire government hostage to ram through this appeal. The reason unfortunately is simple. It’s about money, and it’s about power. Because while this legal change could pose serious risks to our entire economy, it will also make a lot of money for a handful of our biggest banks."
Giveaways To Wall Street and Nation's Wealthiest in Spending Bill Make 'Great Train Robbery Look Like a Misdemeanor'
Giveaways To Wall Street and Nation's Wealthiest in Spending Bill Make 'Great Train Robbery Look Like a Misdemeanor'
"it is deplorable that such radical changes to campaign finance reform rules are being attempted without public input or broad discussion."
"it is deplorable that such radical changes to campaign finance reform rules are being attempted without public input or broad discussion."
8 Things To Know About The ‘Cromnibus’ Budget Deal Congress Just Unveiled
http://thinkprogress.org/economy/2014/12/10/3601742/cromnibus-lowlights/
"Campaign finance regulations have already crumbled in a variety of ways in recent years, and the cromnibus contains a provision that would gut what’s left of them."
"Campaign finance regulations have already crumbled in a variety of ways in recent years, and the cromnibus contains a provision that would gut what’s left of them."
America’s Most Accomplished Looters: The Great Pension Robbery
America’s Most Accomplished Looters: The Great Pension Robbery
"First they come for public pensions and no one notices. Then they come for private pensions. Will anyone stop them before they get to Social Security?"
"First they come for public pensions and no one notices. Then they come for private pensions. Will anyone stop them before they get to Social Security?"
Sunday, December 7, 2014
ALEC Fumes: Transparency Threatens Corporate Free Speech!
ALEC Fumes: Transparency Threatens Corporate Free Speech!
"After spending hundreds of millions of undisclosed funds on state and federal elections, the corporate members of the American Legislative Exchange Council are demanding that state legislators preserve their "right" to anonymously spend money on politics and curry favor with elected officials, and to thwart shareholder efforts to hold the corporations they own accountable."
"After spending hundreds of millions of undisclosed funds on state and federal elections, the corporate members of the American Legislative Exchange Council are demanding that state legislators preserve their "right" to anonymously spend money on politics and curry favor with elected officials, and to thwart shareholder efforts to hold the corporations they own accountable."
Conservatives’ pockmarked past: Who owns the soul of America?
Conservatives’ pockmarked past: Who owns the soul of America?
"Ask a conservative to name one domestic program initiated by a conservative majority that the nation remembers and takes pride in."
"Ask a conservative to name one domestic program initiated by a conservative majority that the nation remembers and takes pride in."
Deficits, Schmeficits: Congress Refuses to Add to the Deficit—Except When Giving Tax Breaks to Big Business | Economic Policy Institute
Deficits, Schmeficits: Congress Refuses to Add to the Deficit—Except When Giving Tax Breaks to Big Business | Economic Policy Institute
"It is hypocritical for Congress to cite deficit concerns when blocking legislation that would help low- and middle-income Americans, and then to disregard these deficit concerns when considering tax extenders overwhelmingly beneficial to big business."
"It is hypocritical for Congress to cite deficit concerns when blocking legislation that would help low- and middle-income Americans, and then to disregard these deficit concerns when considering tax extenders overwhelmingly beneficial to big business."
Saturday, December 6, 2014
Now they’re trying to steal 2016: The demented GOP schemes to rewire the Electoral College and elect a Tea Party president
Now they’re trying to steal 2016: The demented GOP schemes to rewire the Electoral College and elect a Tea Party president
"Republicans have only won the popular vote for president once in the last 25 years, a steep decline in their fortunes from the period from 1972 to 1988, when they won the popular vote every time but one–1976, the aftermath of Watergate. Add to that massive policy failures and demographic trends against them, and the motivations to cheat are overwhelming."
"Republicans have only won the popular vote for president once in the last 25 years, a steep decline in their fortunes from the period from 1972 to 1988, when they won the popular vote every time but one–1976, the aftermath of Watergate. Add to that massive policy failures and demographic trends against them, and the motivations to cheat are overwhelming."
Friday, December 5, 2014
Riiiiiiiiiight, Reince. We can surely count on your crew to produce jobs
http://www.dailykos.com/story/2014/12/05/1349647/-Riiiiiiiiiight-Reince-We-can-surely-count-on-your-crew-to-produce-jobs
"Saying things would be better if Republicans were in charge conveniently ignores history and the fact that today, as usual, they have no agenda for making things better for the 99 percent, only for the 1 percent. And they prove it every time they get hold of the reins."
"Saying things would be better if Republicans were in charge conveniently ignores history and the fact that today, as usual, they have no agenda for making things better for the 99 percent, only for the 1 percent. And they prove it every time they get hold of the reins."
Thanks, Obama! 2014 Is Best Year For Job Growth Since Bill Clinton Was President
http://www.politicususa.com/2014/12/05/thanks-obama-2014-year-job-growth-bill-clinton-president.html
"While income inequality and stagnant wages are a real concern that needs to be addressed immediately, there is still a lot of good news in this report. The fact that we have seen the best job growth in this country in 15 years is something that should be celebrated."
"While income inequality and stagnant wages are a real concern that needs to be addressed immediately, there is still a lot of good news in this report. The fact that we have seen the best job growth in this country in 15 years is something that should be celebrated."
We Need to Start Holding Tax-Dodging Banksters Accountable
http://www.truth-out.org/opinion/item/27822-we-need-to-stop-bending-over-for-the-banksters
"over the last decade, corporate tax avoidance has cost the US government over $3.09 trillion."
"over the last decade, corporate tax avoidance has cost the US government over $3.09 trillion."
Wall St. Demanding Deregulation For Derivatives In Government Shutdown Bill
Wall St. Demanding Deregulation For Derivatives In Government Shutdown Bill
"Wall Street lobbyists are trying to secure taxpayer backing for many derivatives trades as part of budget talks to avert a government shutdown."
"Wall Street lobbyists are trying to secure taxpayer backing for many derivatives trades as part of budget talks to avert a government shutdown."
Inside, And Kicked Out Of, ALEC’s Secretive Policy Summit
http://thinkprogress.org/climate/2014/12/05/3599846/getting-turned-away-from-the-alec-conference/
"ALEC, which does not publish a full list of all dues-paying members, includes some 2,000 state legislators, corporate executives, and lobbyists. Many of the state legislators have gone on to become members of Congress. It is also well-documented that most of ALEC’s revenue comes from corporations and corporate foundations, including those associated with petrochemical billionaires Charles and David Koch, rather than legislative dues."
"ALEC, which does not publish a full list of all dues-paying members, includes some 2,000 state legislators, corporate executives, and lobbyists. Many of the state legislators have gone on to become members of Congress. It is also well-documented that most of ALEC’s revenue comes from corporations and corporate foundations, including those associated with petrochemical billionaires Charles and David Koch, rather than legislative dues."
Business Leaders Hold Meeting To Complain That Corporations’ Free Speech Is Under Attack
http://thinkprogress.org/election/2014/12/03/3599117/chamber-of-commerce-free-speech/
"Months after the U.S. Supreme Court radically expanded the rights of corporations to political speech and religious liberty, top business leaders gathered at the U.S. Chamber of Commerce in Washington DC on Wednesday to argue that corporations’ “free speech is under attack” and belittle shareholders’ calls for more political spending transparency.
Chamber of Commerce leaders, corporate executives and political analysts praised the Supreme Court’s 2010 decision in Citizens United v. FEC and the subsequent rulings this year in Burwell v. Hobby Lobby and Harris v. Quinn. Panelists for a session called Today’s Free Speech Environment repeatedly argued that shareholder efforts to enforce political contribution disclosure requirements are an attempt to silence the business community."
"Months after the U.S. Supreme Court radically expanded the rights of corporations to political speech and religious liberty, top business leaders gathered at the U.S. Chamber of Commerce in Washington DC on Wednesday to argue that corporations’ “free speech is under attack” and belittle shareholders’ calls for more political spending transparency.
Chamber of Commerce leaders, corporate executives and political analysts praised the Supreme Court’s 2010 decision in Citizens United v. FEC and the subsequent rulings this year in Burwell v. Hobby Lobby and Harris v. Quinn. Panelists for a session called Today’s Free Speech Environment repeatedly argued that shareholder efforts to enforce political contribution disclosure requirements are an attempt to silence the business community."
Wednesday, December 3, 2014
To Counter Rise of Oligarchy, Sanders Pitches Progressive Economic Vision
To Counter Rise of Oligarchy, Sanders Pitches Progressive Economic Vision
"Sanders cited figures adjusted for inflation that reveal the median male worker in the United States earned $783 less in 2013 than he made 41 years ago. He also suggested that continued gender disparities persist that should outrage any who believe in equality, with annual earnings for the median female worker in the U.S. declining by $1,337 between 2007 and 2013. Since 1999, Sanders said, household income for the median middle-class family is less than it was a quarter century ago."
"Sanders cited figures adjusted for inflation that reveal the median male worker in the United States earned $783 less in 2013 than he made 41 years ago. He also suggested that continued gender disparities persist that should outrage any who believe in equality, with annual earnings for the median female worker in the U.S. declining by $1,337 between 2007 and 2013. Since 1999, Sanders said, household income for the median middle-class family is less than it was a quarter century ago."
Sen. Bernie Sanders Unveils 12 Point Economic Plan
Sen. Bernie Sanders Unveils 12 Point Economic Plan
"Sen. Bernie Sanders took to the Senate floor to unveil his economic agenda for America: 12 Steps Forward"
"Sen. Bernie Sanders took to the Senate floor to unveil his economic agenda for America: 12 Steps Forward"
Paul Ryan’s “reality” problem: Why his justification of ruinous supply-side tax policies is warped
Paul Ryan’s “reality” problem: Why his justification of ruinous supply-side tax policies is warped
"The “reality” Ryan describes here is a central tenet of supply-side economics: tax cuts will spur sufficient economic growth to ultimately pay for themselves. The actual reality is very different – tax cuts almost always result in lower revenues. The Reagan tax cuts ballooned the deficit to such an extent that he actually had to bump up taxes several times to help keep it manageable. The Bush tax cuts of 2001 and 2003 are largely to thank for the deficits we have right now. Conversely, the tax increases of the Clinton years (derided at the time by Republicans and conservatives as economic suicide) coincided with vigorous economic growth and deficit reduction.
But one doesn’t even need to look to history to find repudiation of this “reality.” The supply-side “experiment” underway in Kansas right now, under the direction of Gov. Sam Brownback, is a testament to the dangers of relying on dynamic scoring to oversell tax cuts.
In 2012, Brownback made good on promises to slash income and small-business taxes in the state, claiming that they’d have immediate and potent effects on job creation and economic growth – “like shooting adrenaline into the heart of growing the economy,” he said at several points. His office produced analyses pointing to brisk job creation and an influx of new residents. What actually happened was very different: sluggish job growth, and ever-worsening budgetary problems. Just last month, state revenue forecasters acknowledged that their revenue projections from earlier this year were overly optimistic, and (since Brownback refuses to raise revenues) drastic cuts to spending will have to be made to make up the shortfall. While most states are crawling out the recession and devoting increased revenues to beefing up pared-down social services, Kansas is moving in the opposite direction, and all of it is attributable to Brownback’s tax cuts."
"The “reality” Ryan describes here is a central tenet of supply-side economics: tax cuts will spur sufficient economic growth to ultimately pay for themselves. The actual reality is very different – tax cuts almost always result in lower revenues. The Reagan tax cuts ballooned the deficit to such an extent that he actually had to bump up taxes several times to help keep it manageable. The Bush tax cuts of 2001 and 2003 are largely to thank for the deficits we have right now. Conversely, the tax increases of the Clinton years (derided at the time by Republicans and conservatives as economic suicide) coincided with vigorous economic growth and deficit reduction.
But one doesn’t even need to look to history to find repudiation of this “reality.” The supply-side “experiment” underway in Kansas right now, under the direction of Gov. Sam Brownback, is a testament to the dangers of relying on dynamic scoring to oversell tax cuts.
In 2012, Brownback made good on promises to slash income and small-business taxes in the state, claiming that they’d have immediate and potent effects on job creation and economic growth – “like shooting adrenaline into the heart of growing the economy,” he said at several points. His office produced analyses pointing to brisk job creation and an influx of new residents. What actually happened was very different: sluggish job growth, and ever-worsening budgetary problems. Just last month, state revenue forecasters acknowledged that their revenue projections from earlier this year were overly optimistic, and (since Brownback refuses to raise revenues) drastic cuts to spending will have to be made to make up the shortfall. While most states are crawling out the recession and devoting increased revenues to beefing up pared-down social services, Kansas is moving in the opposite direction, and all of it is attributable to Brownback’s tax cuts."
Mitch McConnell’s squirrelly scheme: How the GOPer is trying to upend campaign finance law
Mitch McConnell’s squirrelly scheme: How the GOPer is trying to upend campaign finance law
"McConnell’s latest anti-reform ploy involves attaching a so-called policy rider to a vital omnibus appropriations bill. The Republican’s rider would essentially end limits on coordinated campaign spending by candidates for federal office and party committees."
"McConnell’s latest anti-reform ploy involves attaching a so-called policy rider to a vital omnibus appropriations bill. The Republican’s rider would essentially end limits on coordinated campaign spending by candidates for federal office and party committees."
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