Democrats want to take all our money and return to us one dime out of each dollar.
Republicans want to take all our money and give it to corporations and the wealthy.
Neither is acceptable!
Campaign 2010
Countdown to Congressional Elections
The most effective way to restrict democracy is to transfer decision-making from the public arena to unaccountable institutions: kings and princes, priestly castes, military juntas, party dictatorships, or modern corporations.
Noam Chomsky, M.I.T. emeritus Professor of Linguistics
There’s been much ado about the recent $550 million fine the Securities and Exchange Commission imposed on Goldman Sachs for lies and omissions about the ABACUS 2007-AC1 subprime mortgage derivatives. Goldman cost investors more than $1 billion while making a very tidy profit themselves, but not as much as the man who designed the derivatives package for Goldman. John Paulson made $1 billion off the scam. Goldman called the fine “a major victory” for them. And rightly so. First, everyone, including Goldman, was expecting a $1 billion fine (God bless the SEC). Second, the actual fine still leaves Goldman with profits from the scam. Third, $550 million is what Goldman makes in about three days. And finally Goldman got off without any fraud charges being filed against them. I have no doubt Lloyd Blankfein and his cronies had a huge Champaign party Wednesday night celebrating their biggest victory since they ripped off taxpayers in 2008. It’s great to have friends in high places.
Angelo Mozillo, ex-CEO of Countrywide, is back in trouble. The SEC has charged him with insider trading and failure to disclose. You may remember Mozillo as one of the Wall Street executive who sat before a congressional committee in February of last year defending his $115 million bonus. Other former executives of Countrywide have also been charged.
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