Tag: Wall Street

Why the DNC Is Fighting WikiLeaks and Not Wall Street

NORMAN SOLOMON – Willingness to challenge Wall Street would certainly alienate some of the Democratic Party’s big donors. And such moves would likely curb the future earning power of high-ranking party officials, who can now look forward to upward spikes in incomes from consultant deals and cushy positions at well-heeled firms. With eyes on the prizes from corporate largesse, DNC officials don’t see downsides to whacking at WikiLeaks and undermining press freedom in the process.

Obama Touts Transparency but Negotiates Secret Trade Deal

LORI WALLACH – On Sept. 6, as President Barack Obama promised jobs and transparency in his Democratic National Convention acceptance speech, his top trade officials were cloistered in conditions of extreme secrecy at the Lansdowne resort in Leesburg, Va., negotiating a massive “trade” agreement that will promote more U.S. job offshoring and ban Buy American procurement preferences.

Looks Like the 1% is Going to Get Away with It

PETER J. HENNINGS – The criminal investigation was prompted by a referral from the Senate’s Permanent Subcommittee on Investigations, based on its 635-page report on the financial crisis that included details on Goldman’s transactions in mortgage-backed securities. The report highlighted potential conflicts of interest in how Goldman dealt with its clients and questioned whether Mr. Blankfein testified truthfully at an April 2010 subcommittee hearing when he said that the firm did not have a “massive short” position to bet on a decline the housing market.

The Man Who May Bring the Banksters to Justice (If They Don’t Break His Knees First)

MILES MOGULESCU – New York State Attorney General Eric Schneiderman may go down in history as the most important public official in reforming the corrupt financial system that caused the great Financial Crisis of 2008 and holding the perps responsible — if he can hold out against pressure from Wall Street, the Federal Reserve, and the Obama administration to give Wall Street a “Get Out of Jail Free” card.

Why ‘We The People’ Must Triumph Over Corporate Power

BILL MOYERS – Rarely have so few imposed such damage on so many. When five conservative members of the Supreme Court handed for-profit corporations the right to secretly flood political campaigns with tidal waves of cash on the eve of an election, they moved America closer to outright plutocracy, where political power derived from wealth is devoted to the protection of wealth. It is now official: Just as they have adorned our athletic stadiums and multiple places of public assembly with their logos, corporations can officially put their brand on the government of the United States as well as the executive, legislative, and judicial branches of the fifty states.

Occupy Our Homes

J.A. MYERSON – Yesterday, no one had lived in 702 Vermont Street for three years. Vermont Street sits in East New York, the Brooklyn neighborhood where foreclosures are five times more frequent than in the rest of the state. Today, Alfredo and Tasha and their son and daughter moved in, with the help of a number of friends whom they’d never met. Some were from the advocacy groups Picture the Homeless and Vocal New York, others were clergy or members of the city council.

Don’t Sit This One Out – What’s Your Vision for Occupy Wall Street?

MICHAEL MOORE – This past weekend I participated in a four-hour meeting of Occupy Wall Street activists whose job it is to come up with the vision and goals of the movement. It was attended by 40+ people and the discussion was both inspiring and invigorating. Here is what we ended up proposing as the movement’s “vision statement” to the General Assembly of Occupy Wall Street:

Wall Street Battle Plan to Address Occupy Leaked

SAM GEDULDIG, ET AL – [Leaked memo] Leading Democratic Party strategists have begun to openly discuss the benefits of embracing the growing and increasingly organized Occupy Wall Street {OWS) movement to prevent Republican gains in Congress and the White House next year. We have seen this process of adopting extreme positions and movements to increase base voter turnout, including in the 2005-2006 immigration debate.

Americans Finally Join the Wave of Healthy Global Protest

RANDALL AMSTER – “Hello, you’ve reached the people of the United States of America. We’re away from our desks right now, and perhaps for good — so instead of leaving a message for us, we encourage you to take your messages directly to the halls of power for their consideration. If you require immediate assistance, do not ask the agents of governments or corporations, but organize in your own communities instead. For directory assistance, get out in the streets and talk to others concerned about the direction of the nation and world. To be connected to an operator, follow the protest signs and/or the smell of teargas in the financial districts across the country. And if you should become disconnected … we are very happy to welcome you home to the movement!”

Obama Wooing “Economic Royalists”

NORMAN SOLOMON – In his first term, President Franklin Roosevelt denounced “the economic royalists.” He drew the line against the heartless rich: “They are unanimous in their hate for me — and I welcome their hatred.” What a different Democratic president we have today.

Are the Dems Really Listening?

MICHAEL MOORE — Ok! We’re halfway through the week and we’re off to a great start. Last week I gave the spineless Dems five friendly suggestions for things they could do on the off chance they were interested in winning the midterm elections on November 2nd:
1. Deliver a blunt, nonstop reminder to the American people about exactly who it was that got us into the mess we’re in.
2. Declare a moratorium on home foreclosures.
3. Prosecute the banks and Wall Street for the Crime of the Century.
4. Create a 21st century WPA (hire the unemployed to rebuild America).
5. Pledge that no Dem will take a dime from Wall Street in the next election cycle.
So how are we doing 5 days later? Not bad! It turns out that at least some of these ideas were so simple even elected Democrats could come up with them!