Group items tagged

"In 2005 private student loans were exempted of ALL consumer protections. No matter when their loans were taken, many borrowers now find themselves in a paralyzing predicament of repaying two, three or multiple times the original amount borrowed, with no bankruptcy protection, no cap on fees and penalties and no recourse to the law. The consequences are dire, with stories of borrowers in financial and emotional ruin."

No We Can't / Yes We Can / No We Can't. Obama had millions of followers eager to fight for his agenda. But the president muzzled them~and he's paying the price. Feb 02, 2010 9:27 AM

Jamie Dimon is on the board of the NY Fed. He knows what they're up to. No matter what excuse Obama offers for opposing the Sanders amendment, there is no reasonable argument to be made for allowing the Chair of JP Morgan Chase to know what members of Congress cannot.

As of mid-August 2009, there were six (6) lobbyists per single (1) member of House and Senate (Bloomberg News). That's 6:1, folks. Just for healthcare reform. For financial industry reform, there are 2,400 lobbyists in play. The Chamber of Commerce spent $26.2 million--in the first 2 quarters (6 months) of 2009. Clearly, private industries and their foot soldiers on K Street/Capitol Hill influence/dictate American policymaking. No matter who's 'voted in,' it's the influence machine that rules Washington. Worse, there's a good chance that the Supreme Court will grant corporations (as 'fictive persons') to spend unlimited dollars in funding electoral campaigns. Is there hope that this country will be a democracy one day? Or is it doomed to become increasingly, irrevocably plutocratic?

Blown Opportunity #1: Stimulus Package. Blown Opportunity #3: Auto Bailouts. Blown Opportunity #3: Bank Bailouts. No President since FDR has been handed as many opportunities to transform the U.S. into something that doesn't threaten the stability of life on this planet. He has refused to use each and every one of them. Let's look at the big three.

Obama wins the right to detain people with no habeas review (.@ggreenwald ) http://bit.ly/covglq

Both Republicans and Democrats have been explaining that "There Is No Alternative," we need public policies promoting austerity because government is "out of money." The question seems to be not "do we need austerity?" but "will we be austere sooner or austere later?" Meanwhile, the bipartisan consensus is that the government is definitely out of money. But these assertions are at odds with the common knowledge that the U.S. government literally creates its own money. Unlike the euro, the dollar is a sovereign, fiat currency, unconstrained by exchange rates or treaties. And since Nixon closed the gold window, government can issue dollars without waiting for gold or silver mines to provide any backing for them. So we can't possibly be "out of money," any more than the Bureau of Weights and Measures can be "out of inches."

"The Illusion of Money Liberation from subservience to Wall Street begins with a recognition that money is just a number of no intrinsic value. "

Is Obama's new "debt commission" about to savage Social Security for no reason? Sure looks like it.

Out of the crooked timber of humanity, no straight thing was ever made

Without a hardline group of progressives willing to join with Republicans and defeat Democratic legislation unless that legislation meets certain progressive criteria, every legislative fight will follow this process of backroom deals with corporate interests resulting in an inexorable right-wing slide. ...The Progressive Block needs to publicly draw clearn lines in the sand before draft legislation is introducted. This allows both netroots and grassroots activists to organize around that line in the sand. Otherwise, given the backroom nature of these dealings, there is no way for the progressive activist base to play any meaningful role in the legislative process, and all negotiation power is ceded to corporate lobbyists.

"It is by now commonplace to observe that democracy is in a weakened state in the United States. But could it be that the U.S. is no longer a democracy at all, if it ever truly was?"

President Obama is taking a sharp, populist tone with Wall Street and scolding the ways of Washington