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Monday, February 8, 2010

Elizabeth Warren: Time For Wall Street CEOs To 'Earn Back' America's Trust

By Shahien Nasiripour
Huffington Post
First Posted: 02- 8-10 07:50 PM

Bailout watchdog and Middle Class advocate Elizabeth Warren has accused Wall Street CEOs of abusing consumer trust and challenged them to step up and support financial reform -- for the nation's benefit as well as their own.

In an opinion piece [Wall Street's Race to the Bottom] to be published in Tuesday's Wall Street Journal, Warren writes, "For years, Wall Street CEOs have thrown away customer trust like so much worthless trash."

"Banks and brokers have sold deceptive mortgages for more than a decade. Financial wizards made billions by packaging and repackaging those loans into securities. And federal regulators played the role of lookout at a bank robbery, holding back anyone who tried to stop the massive looting from middle-class families. When they weren't selling deceptive mortgages, Wall Street invented new credit card tricks and clever overdraft fees.

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Maurice Grossman, Acclaimed Ceramic Artist, Citizen Activist Leaves Gift of Light that Lives On

By Sandra Spangler
February 8, 2010

Maurice K. Grossman embodied the spirit of giving through his teaching and participation in the community. He cared deeply about awakening and empowering citizens to exercise their right to vote. As an observer in recent elections Maurice acted upon a belief that members of political parties should actively participate in verifying and protecting ballot chain of custody to make sure votes are counted.

He will be remembered as a Navy World War II veteran committed to democracy and living a life dedicated to connectedness, peace and understanding.

A large crowd numbering 400 or more joined with his family to celebrate Maurice's life at the Tucson Museum of Art on Sunday. We heard from colleagues, students and friends to be reminded of Maurice's gifts to everyone who he met. Maurice was a teacher and mentor to thousands.

He had a passion for his ceramic art and every day he lived the legacy he leaves for us--kindness, love, appreciation and gratitude for every soul. The vision he worked for is a government that would give life to and nourish its citizens. He freely shared his passion with good humor and boundless energy. The living light of Maurice's spirit calls us to stand up for what we believe in.

During the memorial Rep. Matt Heinz (LD 29) and Sen. Paula Aboud (LD 28) read a Concurrent Resolution of the Arizona State Legislature recognizing Maurice for his lifetime achievements and honoring his contribution to Arizona educational and community life. They presented the family with memorials and an American flag that had flown over the Arizona Capitol building in Maurice's honor. Read the resolution here.

From Blog for Arizona

"Maurice was a native of Michigan. In 1955, he moved to Tucson, where he founded the University of Arizona's Ceramic Arts program the following year. He taught at the UA for 35 years and was the recipient of the UA's Creative Teaching Award.

Maurice studied in Japan as a Fullbright Scholar, and he received a National Endowment for the Arts grant in 1986. He was internationally recognized for his pottery, and very involved in the local arts community.

Maurice worked tirelessly on Democratic Party causes. After the death of his wife, he came out as a gay man, and he fought for GLBT rights, as well as many other social causes.

"He was simply the nicest person you'd ever want to meet," said Jeff Rogers, Pima County Democratic Party chair. "We will miss his generosity of time and his effort, but what we'll really miss is the man we knew and admired."

Doug Noffsinger, a long time friend of Grossman's, told the Arizona Daily Star of Mr. Grossman: "He's probably registered more people to vote in Pima County than any other living person. And he always did that in outfits like an Uncle Sam hat, or a red, white and blue boa."

Maurice is survived by two children, Lauren and Stephen Grossman, both of Seattle. He was preceded in death by his wife, Marilyn Gracey Grossman, and his oldest daughter, Barbara Jean Grossman."

Click on picture to watch AZ Public Media Interview with Maurice.

Remembering a Pioneer Artist and Community Activist Maurice Grossman dies at 82 — January 25, 2010



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Saturday, February 6, 2010

The US Fiscal Deficit: Scare Stories vs. Reality

The Real News
February 6, 2010

Robert Pollin: There are ways to cut the deficit without freezing social spending

Click on picture to view video.




Robert Pollin is Professor of Economics at the University of Massachusetts in Amherst. He is the founding co-director of the Political Economy Research Institute (PERI). His research centers on macroeconomics, conditions for low-wage workers in the US and globally, the analysis of financial markets, and the economics of building a clean-energy economy in the US. His books include

A Measure of Fairness: The Economics of Living Wages and Minimum Wages in the US




Con
tours of Descent: US Economic Fractures and the Landscape of Global Austerity.

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Thursday, February 4, 2010

Markets Fail When Humans Are Unregulated

By Paul Craig Roberts
OpEd News
February 4, 2010

Former Federal Reserve chairman Alan Greenspan answered that he had placed his trust in a flawed theory when he was called before Congress to explain why he, Goldman Sachs Treasury Secretary Robert Rubin and Deputy Treasury Secretary Larry Summers, prevented Brooksley Born, head of the Commodity Futures Trading Corporation, a government regulatory agency, from doing her job of regulating over-the-counter derivatives.

The efficient markets theory is that unregulated markets are efficient and rational. According to this theory in which Greenspan placed his trust, unregulated markets produce the best possible
result. Any regulatory interference worsens the outcome.

Greenspan blamed his own bad judgment on a theory. The theory, or Greenspan's understanding of it, nevertheless still holds sway as Congress has proved impotent to re-regulate the gambling casino that is Wall Street. Clearly, the theory serves powerful interests.

But what is the truth?

The truth is that markets are a social institution. Their efficiency depends on the rules that govern the behavior of people in markets. When free market economists talk about markets deciding this or that, they are reifying a social institution and ascribing to it decision-making power. Socialists make the same mistake when they blame markets for the results of human action. But, of course, markets do not act or
make decisions. People act and make decisions, and markets reflect the decisions and actions of people.
The entire debate over regulation is misconstrued. It is not the market, an efficient social institution, that is regulated. What is regulated is the behavior of people in markets. If you want good results from markets, good regulation of human behavior is a requirement.
The market is like a computer. Garbage in, garbage out.

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Rep. Donna Edwards: "Amend the Constitution," Quotes Justice Brandeis







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Shadow Elite: The Spy Who Came in From... Wall Street?

By Janine R. Wedel Author, "Shadow Elite"
Huffington Post
Posted: February 4, 2010 09:05 AM

During the Cold War, we took it for granted that officers of the Central Intelligence Agency worked solely for the good of the USA -- or at least their version of the good. They were loyal first, last, and always only to one institution, the CIA.
Americans assumed that they had one boss, and one boss alone: the CIA director. But this week came a revelation that shakes that longstanding belief to the core.
Today, CIA officers are allowed to moonlight, and ply their espionage skills elsewhere in their free time.
I wish I could say this was a stunning revelation, but it is not. It is just the sort of dilution of loyalty, authority, and the government's "brain" that enables the top players of power and influence -- the shadow elite -- to serve their own agendas, rather than the public's, as they move seamlessly across government, business, think tank, and media organizations. In my new book Shadow Elite, I argue that this trend threatens our democracy, and often, even our security.

Here is what is detailed by reporter Eamon Javers, in his new book Broker, Trader, Lawyer, Spy: The Secret World of Corporate Espionage.

And it reads like a bit of farce from a John Le Carre novel, recast to 21st century Wall Street. Some active duty CIA officers, Javers reports, have been on the payroll of a company called BIA (deliberately named to resemble the CIA). For BIA, they reportedly practice "deception detection" to aid Wall Street companies and hedge funds in their business transactions. Like the TV series, "Lie To Me", in which a psychologist analyzes facial, body, and vocal expressions to ferret out who's lying and who's not in criminal investigations, these officers use their CIA training to read the cues that CEO's and market analysts unwittingly send off. They help clients, including Goldman Sachs, figure out if other executives are on the up-and-up when they tout the health of their company. It conjures up an absurd image of an elite, precision-trained spy, sitting and watching and scrutinizing.... business news on CNBC.

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Wednesday, February 3, 2010

Feb. 13 Campaign Kick-Off Party For LD 26 Candidates Nancy Young Wright, & Cheryl Cage

Please RSVP to Aspen Green at aspengreen900@comcast.net if you plan to attend.



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Al Franken Humbles John McCain, the Senator who placed hold on Obama NLRB nominee Craig Becker

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Tuesday, February 2, 2010

Stewart: Fox News saw Obama’s Q&A as ‘against the narrative’ | Obama 'Having Fun'

By David Edwards and Stephen Webster
Rawstory.com
Tuesday, February 2nd, 2010 -- 6:57 pm

The problem with preconceived shades of reality is that occasionally, someone comes along and knocks everything askew.

According to Jon Stewart, host of Comedy Central's The Daily Show, that's exactly what happened when President Barack Obama spent an hour and a half swatting down House Republicans' questions, causing Fox News to "cut the feed."

It was almost as if the president could see the GOP talking points in "bullet time," Stewart joked.

For the rest of the story click here.

WATCH VIDEO
The Daily Show With Jon StewartMon - Thurs 11p / 10c
Q & O
www.thedailyshow.com
Daily Show
Full Episodes
Political HumorHealth Care Crisis



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'Money for Nothing' Author Exposes Corporate Board Cronyism That Threatens the Economy



John Gillespie and David Zweig take readers deep inside the elite world of these corporate leaders to reveal its inner workings and show how the glaring failures of the system have imperiled our economy. For excerpts and more on the book click on the picture.
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DFA: Tell Gabrielle Giffords to Sign the Letter Urging Senate To Pass Public Option by Reconciliation



92 House Democrats Have Signed the Polis/Pingree Letter

An incredible 92 House Democrats have signed the Polis-Pingree letter calling on the Senate to pass the public health insurance option through "reconciliation," which only needs a simple majority to pass the Senate.

The Boldprogressive whip team is aiming for 100, and today is the last day for others to sign. Raul Grijalva is the only Arizona Democrat so far to sign on.

Rep. Gabrielle Giffords isn't on board yet. Can you call her today and ask her to sign?

This letter has been reported on by MSNBC, The Washington Post, The Atlantic, and others. The momentum is growing. And numerous congressional offices have said calls so far made a huge difference -- your call today will too.

Click here to participate in the Democracy for America Boldprogressives campaign.

View full letter at WhipCongress.com/letter

The Honorable Harry Reid
Office of the Majority Leader
United States Senate
S-221, The Capitol
Washington, DC 20510

Dear Majority Leader Reid:

As the Senate continues to work on health reform legislation, we strongly urge you to consider including a public option.

Here are the reasons for this request:

1) The public option is overwhelmingly popular.

A December New York Times poll shows that, despite the attacks of recent months, the American public supports the public option 59% to 29%. And a recent Research 2000 poll found 82% of people who supported President Obama in 2008 and Scott Brown for Senate last week also support the public option. Only 32% of this key constituency is in favor of the current Senate bill – with more saying it “doesn’t go far enough” rather than it “goes too far.”

Support for health care legislation started to fall as popular provisions like the public option were stripped out and affordability standards were watered down. The American people want us to fight for them and against special interests like the insurance industry, and it is our responsibility to show them that their voices are being heard.

2) The public option will save billions for taxpayers, speaking to the fiscally-responsible sensibilities of our constituents.

The Congressional Budget Office estimates that the public option will save taxpayers anywhere from $25 billion to $110 billion and will save billions more when private insurers compete to bring down premium costs. The stronger the public option, the more money it saves.

By including the public option, we can simultaneously reduce tax increases and the deficit. This is a common-sense way to temper the frustration of Americans who question whether Congress is spending their money wisely and fighting for the middle class.

3) There is strong support in the Senate for a popular public option.

It is very likely that the public option could have passed the Senate, if brought up under majority-vote “budget reconciliation” rules. While there were valid reasons stated for not using reconciliation before, especially given that some important provisions of health care reform wouldn’t qualify under the reconciliation rules, those reasons no longer exist. The public option would clearly qualify as budget-related under reconciliation, and with the majority support it has garnered in the Senate, it should be included in any healthcare reform legislation that moves under reconciliation.

As Democrats forge “the path forward” on health care, we believe that passing the public option through reconciliation should be part of that path. We urge you to favorably consider our request to include a public option in the reconciliation process.

Sincerely,

Jared Polis, Member of Congress
Chellie Pingree, Member of Congress
Keith Ellison, Member of Congress
Carolyn Maloney, Member of Congress
Sam Farr, Member of Congress
Earl Blumenauer, Member of Congress
Paul Tonko, Member of Congress
Jan Schakowsky, Member of Congress
Donna Christensen, Member of Congress
Yvette Clarke, Member of Congress
John Hall, Member of Congress
Michael Doyle, Member of Congress
David Wu, Member of Congress
Anthony Weiner, Member of Congress
Alcee Hastings, Member of Congress
Bob Filner, Member of Congress
Peter DeFazio, Member of Congress
Peter Welch, Member of Congress
And dozens of other representatives...And here is the rest of it. Read more!

Monday, February 1, 2010

Dem ad slams GOP candidate as ‘architect of voter suppression’

By Daniel Tencer
Rawstory
Monday, Feb. 1st, 2010

The Democratic Party has released a one-minute ad accusing a Republican candidate for Congress and former Karl Rove aide of being "the architect of a voter suppression scheme."

Tim Griffin, who worked as an aide for Karl Rove during the Bush administration before becoming a US Attorney, is running for Congress in Arkansas' 2nd district. An ad released by the Democratic Congressional Campaign Committee says Griffin was behind a "voter caging" effort, despite Griffin's claims to the contrary.

The video shows an email, obtained by investigative journalist Greg Palast in 2007, showing Griffin receiving and replying to issues involving voter caging. According to the DCCC, Griffin responded "Thank you, perfect" to one of the emails.

The video begins with audio of Griffin denying knowledge of voter caging schemes. "Obviously I've seen the Internet stuff about caging. ... The allegations that are on the Internet ... are completely and absolutely false."

"Tim 'Dirty Tricks' Griffin says the allegations are 'absolutely false'? Too bad he put it in writing," the Democratic ad states.

WATCH DCCC VIDEO



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