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The Death of U.S. Political Democracy For The People

Posted by: LibbyShaw

Will the Senator from Wal-Mart please yield to the Senator from Halliburton? The Congressman from Black Water has 5 minutes remaining before the Congresswoman from United Health may speak.

Mark your calendars, folks. January 21, 2010 is the day the radical and activist Supreme Court of the United States delivered the U.S. Democracy into the hands of the corporate sector and special interests groups. According to an article in the New York Times corporations, lobbyists and unions can now legally purchase their candidates of choice.

“We have got a million we can spend advertising for you or against you – whichever one you want,’ ” a lobbyist can tell lawmakers, said Lawrence M. Noble, a lawyer at Skadden Arps in Washington and former general counsel of the Federal Election Commission.

The decision yesterday will usher in unimaginable numbers of Swift Boat attack ads. Corporate fat cats can now threaten and bully politicians to do their bidding or else.

“It will put on steroids the trend that outside groups are increasingly dominating campaigns,” Mr. Ginsberg said. “Candidates lose control of their message. Some of these guys lose control of their whole personalities.”

“Parties will sort of shrink in the relative importance of things,” he added, “and outside groups will take over more of the functions – advertising support, get out the vote – that parties do now.”

Front row: Associate Justices Anthony M. Kennedy, John Paul Stevens, Chief Justice John G. Roberts, Antonin G. Scalia, and Clarence Thomas. Back row: Associate Justices Samuel A. Alito, Ruth Bader Ginsburg, Stephen G. Breyer, and Sonia Sotomayor.

Some have called the SOTUS decision a power grab that is intellectually dishonest.

In opening the floodgates for corporate money in election campaigns, the Supreme Court did not simply engage in a brazen power grab. It did so in an opinion stunning in its intellectual dishonesty.

Many of those commenting on the decision in Citizens United v. Federal Election Commission have focused on the power-grab part. I agree with them. It was unnecessary for the court to go so far when there were several less-radical grounds available. It was audacious to seize the opportunity to overrule precedents when the parties had not pressed this issue and the lower courts had not considered it. It was the height of activism to usurp the judgments of Congress and state legislatures about how best to prevent corruption of the political process.

“If it is not necessary to decide more, it is necessary not to decide more,” a wise judge once wrote. That was Chief Justice John G. Roberts — back when — and dissenting Justice John Paul Stevens rightly turned that line against him.

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Republicans naturally and predictably love this recent ruling. But of course they would. Republicans embrace and fully support authoritarian forms of government. And the sad truth of the matter is the GOP has always worked for the corporate sector.

It is devastatingly unfortunate that Republican voters have never been able to understand the hard, cold and mean reality of those they elect into office. Politicians take an oath to serve the people in their districts but many merely give their constituents nothing but empty rhetoric. If one were to closely examine one’s Republican lawmakers’ voting records one would find who their elected officials really work for.

My guess is the teabaggers will wraps it head around the reality of the SCOTUS decision like we progressives have, for the only one imperative we do share in common is a collective outrage over the corporate takeover of the U.S. government and its legislative process by special interest groups and corporations.

But unfortunately teabaggers, unlike progressives, are far too easily led astray by the likes of Dick Armey, one of the numerous behind the scenes leaders of the teabagger movement. Armey’s main mission is to promote the interests of the health care industry. He and his organization, Freedom Works, uses teabaggers as its tools.

Republicans and teabaggers alike have been led to believe that the government is the root of everything evil while progressives know that government is the only force that can and will protect us from the evils of self-serving greed mongers of the corporate sector.

We are where we are today b/c the corporate sector has been enabled to run rough shod over the American people. We are broke. There are no jobs. We lost homes. We lost retirement savings. Meanwhile on Wall St. the fat cats who can now purchase politicians get richer by the minute.

Elections have consequences. The nice guy or girl candidate with whom to have a beer could very well be an anti-political democracy devil in disguise who has every intention of throwing the middle and working classes to the lions.

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Oh, and Prince Alwaleed, grandson of the King of Saudi Arabia and the largest individual shareholder in Citigroup and second biggest shareholder in News Corp (Murdock’s FOX “News”) doesn’t like Obama’s tax on the banks.

Who would have thought?

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Republicans Stand by Their Man: Fat Cat The Banker

Posted by: LibbyShaw

Meet Fat Cat the Banker

Meet Fat Cat the Banker

Who would have thought? In its true and hypocritical form The Party of No and Obstruction opposes President Obama’s proposed fees on banks.

Dick Cheney must be hard at work at that printing press in his undisclosed basement.

Prominent Republicans are coming out in opposition to President Barack Obama’s proposal for a $90-billion fee on large banks that took bailout money, a move that political observers say could force the GOP to choose between their traditional anti-tax position and populist anger over the bailout.

On Thursday, GOP Chairman Michael Steele declared that the bank fee — which would be levied only on banks that took bailout money and have more than $50 billion in assets — is “another tax on the American public.”

The GOP is standing by fat cat the banker in yet another effort to oppose President Obama. Republicans demonstrate time and time again that they are willing to put politics ahead of working on solutions to solve the daunting challenges that we face on local, state and national levels.

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All of the Republican’s ranting and raving about the federal bailout is nothing but ginned up rhetoric. Apparently GOP lawmakers hate the bailout and yet they love the banks so much that they do not believe Wall St., aka gambling casinos that put Las Vegas to shame, should have to make reparations to the taxpayers for squandering and stealing our money. God forbid should the big banks have to pay fines for its appallingly irresponsible and over the top reckless behavior that annihilated the U.S. and global economy.

The financial services industry lobbied for the repeal of the Glass Steagall Act in 1999. That allowed banks to use their custodial power over your money to assume huge risks in investment markets.

They also lobbied for the Commodity Futures Modernization Act of 2000, which allowed banks to trade their crooked insurance in secret and exempted from all supervisory authority.

And to help grow the hurricane, then CEO of Goldman Sachs Hank Paulson made a personal plea to the SEC to allow banks to leverage more money against their capital. As much as $4,000 for every $100 in capital they held.

Wall Street may claim this was caused by a perfect storm, but the only thing perfect about it was their ability to line their pockets at the expense of our country.

Republicans apparently think it is a good idea for the banks to return to its wild, careless and out of control gambling practices that all but destroyed our financial security.

The proposed tax would apply to bank, thrift and insurance companies with more than $50 billion in assets and would start after June 30. It would not apply to certain holdings, like customers’ insured savings, but to assets in risk-taking operations. The levy would raise an estimated $90 billion over 10 years, according to the White House.

But it would remain in force longer if all losses to the bailout fund, the Troubled Asset Relief Program, were not recovered after a decade. The Treasury now projects that the losses from the $700 billion loan program, which was created in October 2008, could reach $117 billion, about a third of the loss that it projected last summer — an improved forecast that reflected the renewed strength on Wall Street.

After all, last week during the Texas Republican gubernatorial debate Senator Kay Bailey Hutchison said she and John Cornyn hated voting for the bank bail out. But, alas, they did so only because then President G.W. Bush instructed them to do so in order to save the U.S. and global economy from a complete melt down.

A glimpse at a Texas Republican clown show.

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In their twisted logic Republican politicians insist they hated saving the banks but now they hate imposing punitive fees on the banks’ biggest gamblers.

I suppose now that Sarah Palin has been hired as a professional analyst by FOX, the Propaganda Arm for the RNC, all of the GOP’s verbal inconsistencies and contradictions will soon be fully explained.

Republican lawmakers will howl like possessed banshees about terrorism and the profound urgency for our national security. They also routinely cry for border fences, racial profiling and full body scanners at all airports. And yet when it comes to safeguarding our financial and economic security, Republicans, it appears, are not in the least bit concerned. For them Fat Cat the Banker can do no wrong.

According to an article written by Mr. Frank Rich of the New York Times:

The Other Plot to Wreck America

Americans might be fluent in global terror and the horrors of terrorism but we are woefully uninformed about our domestic financial weapons of mass destruction.

Americans must be told the full story of how Wall Street gamed and inflated the housing bubble, made out like bandits, and then left millions of households in ruin. Without that reckoning, there will be no public clamor for serious reform of a financial system that was as cunningly breached as airline security at the Amsterdam airport. And without reform, another massive attack on our economic security is guaranteed. Now that it can count on government bailouts, Wall Street has more incentive than ever to pump up its risks — secure that it can keep the bonanzas while we get stuck with the losses.

The Director of the Financial Crisis Commission intends to shed some light on the big banks and its financial practices (greed, hubris, stupidity – gosh, why this sounds like a typical old home week of the W. Administration of arrogance and incompetence) over the last several years.

He wants to examine the financial sector’s “greed, stupidity, hubris and outright corruption” — from traders on the ground to the board room. “It’s important that we deliver new information,” he said. “We can’t just rehash what we’ve known to date.” He understands that if he fails to make news or to tell the story in a way that is comprehensible and compelling enough to arouse Americans to demand action, Wall Street and Washington will both keep moving on, unchallenged and unchastened.

Maybe the W. Administration and all of its lackeys including Senators John Cornyn and Kay Bailey Hutchison were far too distracted by non-existent WMD’s in Iraq and no bid contracts to the military/industrial complex to worry much about Wall St.

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