Archive for wall street

Elizabeth Warren Does What Hillary Clinton Could Never Do

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YellenWarrenw212h202Do you want to know why there's a draft Elizabeth Warren movement growing by leaps and bounds? The answer is found by simply watching the Massachusetts senator calmly, quietly, and succinctly destroy Fed Chairman Janet Yellen.

You don't have to know anything about banking and finance to understand Senator Warren spelling out precisely that the Federal Reserve Board is still not doing its job. They're kowtowing to the huge money institutions and allowing "too big to fail" to continue.

What's below is priceless. Smart as Hillary Clinton is,  she could never do this:

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"The Pitchforks Are Coming for the Millionaires", says Zillionaire to Politico

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frabz-The-Media-mentions-koch-brothers-I-picture-Randolph-and-Mortimer-16c057

Mike Allen swung by MSNBC to tell us just how up front even a center-leaning outfit like Politico is featuring on the stars of the new American plutocracy. Or oligarchy. The folks you see on the business end of a briskly waving pitchfork.

Personally, the Koch Broz. seem more like oligarchs, but that may because I always picture them in crowns that would put the ones adjacent to the Great Tower of London in the shade.

That's why they, the 1%er oligarchy plutocrats like the Koch Sons-a'-Bitches Brothers are so easy for us pitchfork wielders to find … they're large and sparkly. And probably slow.

 

Image, Cagle Cartoons

Image, Cagle Cartoons

Give a gander to mogul and model of American capitalism, Nick Hanauer. He kinda sorta helped blow up Amazon. And he's the one saying "I see pitchforks."

 

The actual article over at Politico is worth the read, excerpted here for a quickie.

Memo: From Nick Hanauer
To: My Fellow Zillionaires
You probably don’t know me, but like you I am one of those .01%ers, a proud and unapologetic capitalist. I have founded, co-founded and funded more than 30 companies across a range of industries—from itsy-bitsy ones like the night club I started in my 20s to giant ones like Amazon.com, for which I was the first nonfamily investor. Then I founded aQuantive, an Internet advertising company that was sold to Microsoft in 2007 for $6.4 billion. In cash. My friends and I own a bank. I tell you all this to demonstrate that in many ways I’m no different from you. Like you, I have a broad perspective on business and capitalism. And also like you, I have been rewarded obscenely for my success, with a life that the other 99.99 percent of Americans can’t even imagine. Multiple homes, my own plane, etc., etc. You know what I’m talking about. ...

Now I own a very large yacht. But let’s speak frankly to each other. I’m not the smartest guy you’ve ever met, or the hardest-working. I was a mediocre student. I’m not technical at all—I can’t write a word of code. What sets me apart, I think, is a tolerance for risk and an intuition about what will happen in the future. Seeing where things are headed is the essence of entrepreneurship. And what do I see in our future now?

Cartoon, Jeff Danziger, GoComics.com

Cartoon, Jeff Danziger, GoComics.com

I see pitchforks.
Now that is refreshing. A rich guy who remembers what it was like to take his first big risk - who sees income inequality.

By Jeebus, he probably even believes in climate change. And I wonder what he thought about the SCROTUS Hobby Lobby debacle.

trickle-down

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Sen. Grassley's Staff Gets Nabbed In His Own Investigation

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The SEC lawsuit alleges that the House staffer, Brian Sutter, spoke with a lobbyist -- identified by the Journal as Mark Hayes - - who happens to be a former aide to Grassley -- on the day of the leak.

Oopsy. Looks like Grassley not only found his leaker, the dude worked for him. Now Grassley may have to recuse himself from the hearings because he himself might be called as a witness, or even more concerning, as a part of the insider trading conspiracy scandal itself.

 

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DC ignores the real threats to national security including guns, climate change, Wall St.

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national security insecurityThis post about the actual threats to our national security, by my pal Mark Karlin via BuzzFlash at Truthout, is a must-read:

The most significant peril to our ability to live peaceful and comfortable lives comes from menaces that the DC politicians do little or nothing about.

You can start with allowing the NRA to impose an Ayn Rand vision of guns unlimited on the nation and its resulting toll in about 30,000 deaths a year (homicides, suicides and accidents) and the rippling psychological impact of insecurity on the nation. If al-Qaeda wanted to create the death toll of 10 9/11s each year, they might have gotten better bang for their buck by just financing the gun lobby.

Add to that the scientific validation that we may have passed the threshold on reversing impending catastrophic climate change, as DC elected officials throw campaign fundraising events while the world's environment is deteriorating rapidly. What could be a graver risk to the nation than a sixth mass extinction on this planet? Yes, we have a military-surveillance- intelligence -industrial complex that is a beast that feasts on our tax dollars - but killing civilians in a faraway land with drones is not only a hideous act of murder, it represents the triumph of the self-interest of the so-called defense establishment over what the pressing priorities of ensuring national security really are.

Shouldn't hundreds of billions of dollars be expeditiously transferred to a much-needed cabinet Department to Stabilize the Earth's Climate? [...]

Moreover, Thomas Piketty, in his groundbreaking book Capital, uses data from 20 countries dating back to the 1800s to prove that the increasing concentration of money and assets in the hands of a few threatens democracy. What is a greater hazard to our constitutional form of government, al-Qaeda or the oligarchy pulling the strings in Washington and playing fast and loose with the economy with impunity?

Please read the entire post here.

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Who Does America Really Want In 2016?

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Clinton Warren

A few days ago, Huffington Post reported that Hillary Clinton was on the unofficial campaign trial and in her speeches she was sounding more and more like Massachusetts Democratic Senator, Elizabeth Warren.

Today, CNN is reporting that Veep Joe Biden gave a speech on Friday in South Carolina where he was channeling the words and themes of Massachusetts Senator Elizabeth Warren.

When you think of it, the two announced "unannounced" Democratic candidates for the highest office in America are Clinton and Biden. Yet where are they getting their talking points? Hmm, Senator Elizabeth Warren.

Why not cut out the middle man, or woman?

Think about it. Who really is the voice of the Democratic party for 2016? It could be Clinton or Biden. But are they really just Charlie McCarthys and EW is Edgar Bergen? More and more it's becoming quite clear that the Clinton baggage of the trumped up Benghazi campaign are meant to embarrass her and turn off voters over a Hillary C run in 2016.

And let's face it. Much of her allure is not strictly her experience. Forget being First Lady. It's a ceremonial position. If it wasn't, it would be an elected or appointed position. Her years of being a Senator and being Secretary of State are very important, valuable experience. So she's got that hands down. But she comes, sadly with a lot of baggage. And now the upcoming Benghazi hearings will tarnish her very stellar reputation more -- even if everything she did was  by the book, according to Hoyle.

What really sets her aside from all of the potential Republicans running for the top office is that she herself is a woman. Go poo-poo that all you want, but it's true. And if you are honest with yourself and realize that, consider this-- so is Elizabeth Warren. No one, not even Clinton, knows more about big business, Wall Street and all of the consumer rip-offs that the public faces daily. No one. Clinton's not even on the same page. She's too often rubbing shoulders with big money. She's, as they say, "beholden.'"

That puts a bit more focus on Joe Biden should Hillary falter. And let's face it. Joe's more often the punch line to a joke than a serious contender to lead this country. He's a good man, but we need a great leader. And Joe's two specialties before he was elected Veep were putting his foot in his mouth and  foreign relations. Right now, even with Syria, Russia, Ukraine, Iran and other hotbed spots around the world, the US citizenry is more interested in what's happening here with our economy - jobs, minimum wage, income inequality, unemployment benefits, and equal pay.

Where else should we be looking if those are the biggest issues? There's really only one answer. And she's available -- just not pushing. Even when asked point blank, she's got the standard answer down -- she's not looking for the Presidency but rather what she can do as a senator.

Why settle for second best, Clinton and Biden? Why not go to the horse's mouth -- Warren. Both Clinton and Biden are trying to channel her and her thoughts. Why not just get the real thing, the real McCoy? Perhaps it's time for a few more Democrats to start thinking about a draft Warren movement while there's still time. We could do a lot worse and I'm not sure Clinton or Biden would be any better for America, nor any more electable.

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You're Damned If You Do, Damned If You Don't

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the poor

What's pleasantly surprising is that despite Republican efforts to stall any safe jobs bill, the economy has picked up. Unemployment dropped in the latest report to 7%, the lowest number in five years.

That's forty-five straight months of improved job numbers. Now that's a great streak, but when you start in such a deep hole, it's more of a continued improvement, but not a clean bill of health.  A healthy overall unemployment number should be somewhere in the two or three percent range. Despite GOP obstruction, the President's plans, along with those of the Fed, are yielding small and steady results. And that could end up being bad news.

Job growth is bad news? Leave it to the GOP to turn improvements into detriments for hundreds of thousands. The Republicans are moving to punish those who weren't lucky enough to grab onto a job and make them suffer even more. The GOP doesn't want to renew the extended unemployment coverage for millions after their state support runs out. And of course, timing is everything. As much as it's a time of "cheer," it's also the time of great despair and the highest numbers of suicide. Being destitute, devoid of hope is a major cause. This is not the time to cut aid to the poor. Food stamps and unemployment need to be continued.

If the GOP really cares -- not that anyone believes that -- but if there's a chance there's a compassionate soul trapped in the body of a Republican, think about working on a reasonable jobs bill. Think about helping with passing a version of the Senate immigration bill. Stop your war on women and healthcare for the poor. And please don't penalize the unemployed who are just trying to find one of the few jobs out there that you haven't found ways to defund or restrict with blockage in the House and Senate.

Being a Scrooge is not only a stigma you'll be able to easily shun, but a compassionate one that you need to shed.

You can't have it both ways. You can't fight job creation on every level, then because the President's plans seem to be working, albeit slowly, slap down the job hunters who haven't been as fortunate.

Find a jobs bill and then, when enough people are working, you might consider cutting back jobless benefits. But now's not the time. Remove people from unemployment with jobs. That's the healthy way. Then the reason to trim extended funding will follow. We're not there yet.

Republicans, if you're not prepared to confess to the world that the President and his party has ushered through some steady economic growth, don't take it out on the less fortunate by further victimizing the jobless, the hungry and those in need. Increasing jobs, decreases unemployment. Don't cut essential programs. It's that simple.

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Elizabeth Warren Unleashed - Her Roar Backs Down 'Third Way' Think Tank

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lions roar

Senator Elizabeth Warren (D-Mass.) has been constantly on the attack over Wall Street gaming us, playing the public for fools on an uneven playing field. Plainly put, they refuse to pay their fair share. Recently that's brought out some ringing criticism from the Third Way, a centrist Democratic think tank. Democrats for years have been known for in-squabbling. Lately it's been a Republican trait, but the exclusivity and even civility seems to be waning. Democrats are picking on each other. That's what's cost them in the past, and may hurt them again in the 2014 elections.

Responding to Senator Warren's call to increase, not trim Social Security benefits...

BUZZFEED:

Third Way’s Jon Cowan and Jim Kessler wrote Monday that “nothing would be more disastrous for Democrats” than to embrace the economic populism of Warren and New York Mayor-elect Bill de Blasio. Warren responded Wednesday with a letter to several major financial institutions, asking them to disclose donations to think tanks — seen as a thinly veiled reference to the op-ed.

That hit a nerve, for sure. Senator Warren's attacks continued on their tactics. HUFFPO: 

The Massachusetts Democrat said that Wall Street's push to cut Social Security is part of a broader agenda. "It's part of the larger issue about a rigged playing field. They don't wanna pay more, they don't wanna pay a fair share. I believe everybody should pay a fair share," she said. "That's how we make sure people can retire with dignity. That's not what Wall Street wants to do."

Third Way's spokesman responded by saying that under Warren's plan, Jamie Dimon, JPMorgan Chase's CEO, would be entitled to a higher Social Security payout.

"Oh please. I'm out there working for Jamie Dimon the same way Dick Cheney is out there trying to save the environment," Warren said.

Senator Warren, you tell 'em. Third Way is a think tank. Make them pay when they don't think. Seems that when you dish it back at them, Democratic ears prick up. And you're retort has even cracked through the Third Way think tank's leaders. They don't even agree with themselves, evidently.

Rep. Joe Crowley, a New York Democrat who is an honorary co-chair of Third Way, told BuzzFeed that he did not agree with Third Way on all issues, especially on Social Security, but he would “continue to work with them.”

It's nice to know someone has our backs. Now keep on 'em. Don't let up. We need you and your progressive thinking. Seniors are, as you say, for the most part separated from poverty by Social Security. They can't afford any cutbacks. Not if they want to live out their lives with a modicum of dignity. The seniors who helped build this country deserve that at the very least.

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