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.
Owens’ initial response left no doubt that although he and Kernen may agree on the impact of the tariff, the topic of the day was no place to inject politics. [...]
If H.R. 1207 was in place today, we would know how much money is being handed over to Wall Street through the back door. That would put an end to this con game being pulled on us. [...]
Since the repayment of the TARP funds by many of the big banks, the news media, Wall Street, and indeed Main Street seem to pretend those banks no longer hold any taxpayer money. The focus is on the money the auto industry owes us, although only 4.1 percent of our spent money has been on that industry. [...]
CNBC has always favored promoting Wall Street over accurately reporting the news facts, but the last few years they have aggressively escalated that effort. You would be very hard pressed to find any anchors on that network that don’t do that. [...]
There are two reasons the name “Government Sachs” wasn’t publically exploited the way “Government Motors” has been. First, bailing out General Motors meant saving hundreds of thousands of blue collar and other common peoples jobs. Bailing out Goldman Sachs was saving a few thousand millionaires and billionaires, and that effort shall not be tainted. [...]
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