Tag Archives: Wall Street

~ politics petitions pollution and pop culture

Big bad Banks


The banks behind the mortgage crisis are looking for a way out, and Treasury Secretary Tim Geithner wants to hand them one.1

Three years after the housing collapse that crashed the world economy, not a single Wall Street executive has faced real punishment for the fraud, corruption, and greed that caused it. And those same big banks continue handing out massive bonuses and dividends while homeowners struggle.2

Now there’s a deal in the works that would let Wall Street banks get away scot-free, giving them immunity from investigation and prosecution of crimes like falsifying documents, encouraging bad loans, and lying to investors. In return they’d pay $20 billion—a fraction of what they could truly owe—and regulators would lose their leverage to help homeowners.3

This deal only works if it stays behind the scenes. If we can get enough people behind this petition, we can embarrass Geithner and the Obama administration into backing down. So we’re joining with MoveOn.org to send a strong message that can’t be ignored.

Tell Treasury Secretary Geithner, “No more sweetheart deals for Wall Street. Let states investigate and prosecute the crimes that crashed our economy.”

The world economy lost $7.7 trillion thanks to the big banks pushing bad loans and risky investments as sound financial planning. And millions of Americans lost houses and jobs. But Wall Street banks got nearly $2 trillion in loans to rebuild, while Main Street Americans are still working to get back on their feet.4

If we want to save the American Dream we need to show that big banks will be held accountable for these crimes, and a few state attorneys general are doing just that. Eric Schneiderman and Beau Biden, the attorneys general of New York and Delaware, have said they won’t settle with the banks without doing a real investigation into the fraud and corruption.5

Standing with homeowners against bullying by big banks is part of what the American Dream Movement is about. We can stand up and stand behind the state attorneys general who are fighting to expose the crimes that caused the collapse.

Tell Treasury Secretary Geithner, “No more sweetheart deals for Wall Street. Let states investigate and prosecute the crimes that crashed our economy.”

Toward an America that works for all,

–Natalie, Van, Ian, Billy, and the rest of the Rebuild the Dream team

Sources:

1. “New York Attorney General Kicked Off Government Group Leading Foreclosure Probe,” The Huffington Post, August 23, 2011
http://www.moveon.org/r?r=263396&id=30464-17809870-86VbHcx&t=4

2. “Biggest Fish Face Little Risk of Being Caught,” The New York Times, February 25, 2011
http://www.moveon.org/r?r=263413&id=30464-17809870-86VbHcx&t=5
“Banks Poised to Pay Dividends After 3-Year Gap,” The New York Times, January 13, 2011
http://www.nytimes.com/2011/01/14/business/14dividend.html

3. “Obama Goes All Out For Dirty Banker Deal,” Rolling Stone, August 24, 20110
http://www.moveon.org/r?r=263395&id=30464-17809870-86VbHcx&t=6

4. “U.S. Subprime Crisis Costs World $7.7 Trillion Dollars,” The Huffington Post, February 15, 2008
http://www.moveon.org/r?r=263403&id=30464-17809870-86VbHcx&t=7
“Wall Street Aristocracy Got $1.2 Trillion in Secret Loans,” Bloomberg News, August 22, 2011
http://www.moveon.org/r?r=263394&id=30464-17809870-86VbHcx&t=8

5. “New York Attorney General Kicked Off Government Group Leading Foreclosure Probe,” The Huffington Post, August 23, 2011
http://www.moveon.org/r?r=263396&id=30464-17809870-86VbHcx&t=9

~ my 2cents ...

hump day …&some News


 just another rant …

Americans are so used to hearing and accepting the status quo. The notion of a President actually working for the People is not only a novel idea, portrayed as something too scary to consider or accept as a reality. This thing called Shared Sacrifice has been making most on the right not only nervous but they are baring their ugliness with comments of how America is supposed to work, which usually means the privileged are in charge while anyone just below better pull up those boot straps. While those on the bottom better, work harder while the middle class if Republicans gain control will need to accept minimum wage jobs or risk having nothing, if you listen to the right wing nutty noise. It is beyond me to believe that health care for all is a bad thing, rescuing the American Auto-Industry was a bad idea, or implementing reasonable regulations on Banks and Wall Street is bad. Unfortunately, considering what happened 2yrs ago the current comments coming from Republicans, their benefactors or the Business Community are definitely outrageous and unacceptable . Yet, there is a group of people who truly believe that regulating banks, wall street or the amount of pollution cars or trucks put out is a bad thing or invades freedom and just another example of big government. The answer to why Americans have not moved into the 21st Century, in my opinion is because of those bets made probably are still in full effect. The players might be quiet but as rumored even Republican members of Congress have investments that will do even better if the US status tanks, that is a rumor no real information has come out but hey if reporters would just ask we might all find out. We all have to know that at some point if the Private Sector cannot or will not fix these problems or move Americans toward the 21st Century, the Government has too. I come from a family of asthmatics and during the days of earth day, green for all … no President treated it as a viable issue to deal with like President Obama. Americans have been faced with issues of climate change and the effects of pollution for decades, have been avoided by many previous President’s or were unable to move Congress to making real efforts to do right by the people. However, President Obama has tried since taking office to move Congress into moving this country not only into the 21st Century but has reached out to other countries in a real effort to make peace not war like reducing nukes, implementing immigration reform, better education, more jobs, healthcare and insurance reform that covers and helps everyone not a select few.

Yes, the difference between the Democratic and Republican Party is not only wide but also becoming more clear everyday but just so you know it’s in writing and documented look below.  There is no required pledge to sign offered or forced by a private citizen, no so-called Pledge to America done in a matter of days … what you read below is what the Democratic Party is and has been all about for years. 

www.democrats.org/about/our_party

Who We Are

Our Party
Change is the law of life. And those who look only to the past or present are certain to miss the future. -- President John F. Kennedy

For more than 200 years, Democrats have represented the interests of working families, fighting for equal opportunities and justice for all Americans.

 

Our party was founded on the conviction that wealth and privilege shouldn’t be an entitlement to rule and the belief that the values of hardworking families are the values that should guide us.

We didn’t become the most prosperous country in the world by rewarding greed and recklessness or by letting those with the most influence write their own rules. We got here by rewarding hard work and responsibility, by investing in people, and by growing our country from the bottom up.

Today Democrats are fighting to repair a decade of damage and grow an economy based on the values of Main Street, not greed and reckless speculation. Democrats are focused on rescuing our economy not just in the short run but also rebuilding our economy for the long run—an economy that lifts up not just some Americans, but all Americans.

Other News …

Recommended: First Thoughts: Boehner’s boxed in

Abbas urges Palestinian protest to support UN bid

Q. and A. on the Debt Ceiling

Amy Winehouse’s Music Sales Spike

Casey Anthony judge blasts media, holds back juror names

Britain to expel Gaddafi diplomats

Scientists See ‘Hint’ of Higgs-Boson ‘God Particle’

CSPAN …

Fate of Boehner, Reid Debt Limit Plans Unclear

Boehner rewriting plan, Reid plan saves $2.2 trillion says CBO

~~~~~~~~~~~~~~~~~~~

Leading CEOs Testify on Tax-Code Rewrite

~~~~~~~~~~~~~~~~~~~

Credit Rating Agencies Get Congressional Review

S&P, Moody’s officials to testify on U.S. credit rating & debt ceiling

~ politics petitions pollution and pop culture

Consumer Financial Protection Bureau -Thank President Obama & Elizabeth Warren


This morning, a group of public servants showed up to work at a brand-new agency created to protect everyday Americans from the abuses of Wall Street.

They’re the folks of the Consumer Financial Protection Bureau, and they’ll be the cops on the beat protecting consumers from predatory credit card and mortgage lenders, bait-and-switch creditors, and anyone trying to make a quick buck by deceiving or manipulating Americans who are just trying to secure their financial future.

Many Americans don’t know it, but this bureau is just one part of a sweeping Wall Street reform law — the most pro-consumer and pro-taxpayer reform of our financial system since the Great Depression — that President Obama signed a year ago today.

Watch this video to get a quick overview of the law, and a briefing on the special interests trying to undermine it:

  http://youtu.be/STAm_6csuxc
Whether you watch the video or not, please share this email with someone.

It’s important that everyone knows what this law means for all of us. Simpler mortgages. Clearer credit card rates, fees, and rules. Fairer loan terms. It’s based on the simple idea that if you make sure that people get clear information, they’ll make the financial decisions that work best for them.

And we can all rest a little easier knowing that our common financial future is more protected from the irresponsibility of a few. This law made structural reforms to ensure that the financial crisis we experienced in 2008 never happens again and that taxpayers aren’t on the hook to pay for Wall Street’s risky bets.

It’s up to you to make sure more people know about this. Most Americans don’t have all the details on how this law is working for them, and it’s our job to change that.

Take a look, and be sure to pass this one on:

Amazingly, each and every Presidential candidate on the other side opposes this law.

And the same opposition that tried to block it more than a year ago is still alive and well.

Right now, lobbyists are at work trying to weaken the tough regulations this law imposes.

That’s no accident — its provisions are designed to rein in the Wall Street, credit card, and mortgage banking interests these people represent.

As we know, there aren’t a whole lot of high-powered lobbyists in Washington looking out for the common good of everyday families.

That’s exactly why this law is necessary, and why our growing organization in all 50 states is so important. It’s up to us to make sure our friends and neighbors know about it.!!!

Thanks,

Messina

Jim Messina

Campaign Manager

Obama for America

~ politics petitions pollution and pop culture

Issa’s witch hunt flops – demand accountabi​lity …Ben Betz, People For the American Way


House Government Reform and Oversight Committee Chairman Darrel Issa has led one partisan witch hunt after another since his party became the majority and he became committee chair. But his latest grasping-at-straws attempt to shame Democrats has blown up in his face.

Rep. Issa accused Democratic appointees on the Financial Crisis Inquiry Commission (FCIC) — the independent commission established in 2009 to investigate the causes of the financial crisis — of financial mismanagement, disclosing confidential information, conflicts of interest and unethically pursuing a partisan agenda. But the documents produced in this investigation not only failed to substantiate these claims, they actually demonstrated improprieties by some of the Republicans on the Commission.

Now, Chairman Issa wants to brush it all under the rug and look the other way. We can’t let him!

Join PFAW‘s petition to the Government Reform and Oversight Committee now demanding that they investigate improprieties by Republican members of the FCIC.

Outrageously, upon canceling a committee hearing on the FCIC accusations, an Issa staffer was quoted as saying, “they had found some documents at the last minute that didn’t fit the narrative.” A report by committee Democrats, based on 400,000 internal FCIC emails, memos and other documents, shows that those documents didn’t just “not fit” Issa’s narrative, they outright refuted them!

Issa’s allegations of financial mismanagement, inappropriate disclosure and partisan conflicts of interest on the part of Democratic commissioners all turned out to be bogus — frivolous charges not based on evidence of any impropriety. HOWEVER, the same could not be said of Republican members of the Commission.

There is evidence that Republican FCIC Commissioners Peter Wallison and Bill Thomas violated ethics guidelines and shared confidential information about the commission’s work with political insiders and Republican consultants. And contrary to the FCIC’s mission, Republican Commissioner Wallison repeatedly urged his GOP colleagues on the FCIC to use their positions on the Commission to help Republicans in their efforts to repeal the Dodd-Frank financial reform bill.

Don’t let Chairman Darrel Issa get away with this blatant hypocrisy. His witch hunt failed, but now he, and his committee, MUST investigate evidence of improprieties and conflicts of interest by Republicans on the FCIC.

Thanks for standing up for justice and accountability — the American Way.

— Ben Betz, Online Strategy Manager

P.S. It’s hardly a surprise that partisan and corporate conflicts of interest have been found among Republican FCIC members — these are the same people who insisted on issuing a minority report of the Commission’s findings that whitewashed the findings of phrases like “Wall Street” and “deregulation” in an attempt to rewrite the history of the financial meltdown. But Chairman Issa decided to open this can of worms with his own ideologically driven attacks on the Commission’s Democratic members. Now, it’s his responsibility to do the right thing and hold the real culprits accountable.

~ politics petitions pollution and pop culture

Rebuild the Dream …


I trust my neighbors more than any Wall Street bank, hedge fund, or oil company. I think we all do.

But we keep letting the banks and multinational corporations, and their high-priced lobbyists, call the shots in our economy.

You know what? I think they’re doing a terrible job. Now it’s time for us, the American people, to come up with our own vision.

So today we’re launching a new effort. And we need your help.

Our goal is to help create a “Contract for the American Dream“—a people-powered plan for creating an economy that works for ALL of us.

When it is completed, this document will be very special. For one thing: thousands of us will have created it TOGETHER, as a community of friends and neighbors.

You are an important part of this community, and you have a key role to play in this effort:helping to choose the best ideas for fixing our economy.

It won’t take long, and you don’t need to be an expert. Just visit our new site and rate which ideas you think will make a real difference. We have some great ideas from progressive leaders. And you can add your own, too. No idea is too big or too small, too tame or too out there. We need your brain engaged on this.
To help get started, former Labor Secretary Robert Reich made a short video about how we can invest in creating more good jobs.
Check it out, then help rate some proposals!

We’re building this Contract with a deep belief that folks like us—all across America—have enough wisdom and common sense to come up with workable solutions to our nation’s problems. By putting our heads together, and combining our best thinking on a national basis, we believe we can craft a plan that unites our struggles for economic fairness and opportunity.

The key to this idea working is simple: we need as many people as possible to participate. We need you to submit ideas and to give feedback. The more people who join in to help craft the Contract, the better it’s going to be.

This week we’re going to focus on four areas. We are starting today with good jobs. Over the coming days, we’ll look for solutions to problems in other areas—from education, to labor rights, to taxes.

Then, on July 16 and 17, thousands of Americans are going to gather in living rooms, community centers, and church basements across the country. In just ten days, people will discuss and help sort the top ideas we have generated together. Between now and then, it’s up to all of us to feed the very best, most creative, most inspiring ideas into the conversations.

Can you help right now—by rating ideas and submitting your own?

http://www.moveon.org

Thanks for all you do.

–Van Jones