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Advancing #BankLobbyistAct, 17 Democrats Decried for Sending This Clear Message: "I Work for My Bank Donors, Not My Constituents'


#1

Advancing #BankLobbyistAct, 17 Democrats Decried for Sending This Clear Message: "I Work for My Bank Donors, Not My Constituents'

Jon Queally, staff writer

Outrage and disgust erupted among consumer watchdogs and progressives on Tuesday after Sen. Angus King (I-Maine) and sixteen Democrats joined with 50 Republicans in the U.S. Senate to advance a bill that critics say is just another handout for Wall Street banks—one that also sets the stage for the next major financial meltdown.


#2

What you are seeing here is not at all any consequence of any intentional turn toward corporate cash way back in the 80s and 90s, oh no. (sarcasm)

What you are witnessing is that this is “what sells”. (sarcasm)

These Corporate State Democrats are just doing what the voters want. (sarcasm)

So the story line goes. Just like Hillary Clinton was just doing “what sells” when she made her pre-campaign warming-up-to-corporate allies speech tour. You know, it’s just a natural progression of what the voter wants. (sarcasm)


#3

Yet another example of the Party Democrats being “Out of Touch”

What Schumer, no control. Thought You were the Great Leader !!!
Or is your name just missing from the list cause your donations come under the table.

King and Kaine, boy is that a biblical lyric from Hell


#4

Absolutely shameful!


#5

They may not be from the Deep South but they herald from conservative states. The 65% of Democrats that do not vote as they do should quit the D Party and join the Greens a more suitable home for them.


#6

Just not a surprising story. It’s funny, whenever the Dems are in control of Congress and the White House, they can’t seem to get any progressive legislation passed, and they seem to get a ton of right-wing corporate-friendly legislation passed. And when the R’s are in control, of course the right-wing corporate-friendly legislation passes, usually with a little help from the Dems as in this case.

It doesn’t get any clearer that there is One Corporate Party. And it Never. Changes. Ever.

But by God, those Dem cultists will just keep voting “D” year in and year out, decade after decade, like lemmings. Continually hoping that somehow, THIS time, things will be different. THIS Congress will be different. THIS time the D’s will stand up to big money and right-wing BS and stand up for their constituents instead of their donors. Despite all of the evidence, time and time and time and time again, year after year after year, to the contrary.

There is a name for people that do the same thing over and over and over again expecting different results each time.

FUCK the Democrats. FUCK 'EM.


#7

Shame on both my senators (Kaine & Warner) for siding with the banks against the people they are supposed to represent. They deserve to be primaried & thrown out on their ears.


#8

If You Have Money in a US Bank Account Be Aware!

http://www.kitco.com/commentaries/2015-06-22/If-You-Have-Money-in-a-US-Bank-Account-Be-Aware.html


#9

And they still do not get why so many of us didn’t vote for the Clinton/Kaine ticket.


#10

Every time I write a screed like this, some good Democrat calls me a "purist’ and tells me I’m the cause of all our problems. Because this is “working across the aisle,” this is called "“bipartisanship,” This is “pragmatism.”

This is also a picture of Hillary Clinton’s running mate, his named prominently displayed as a co-sponsor. You remember Hillary, right? “A progressive who gets things done.”

Things just like this thing…


#11

Read the article above it effects us all of us . I pulled this out of it if you are to lazy to read most of it.

When you deposit money in a checking or savings account, that money no longer belongs to you. Technically and legally, it becomes the property of the bank, and the bank just issues you what amounts to an IOU. The bank considers this as an unsecured debt.

You will have to stand in line behind trillions of dollars of derivative payouts before your checking and savings accounts will be made available to you. Both the Bankruptcy Reform Act of 2005 and the Dodd Frank Act provide special protections for derivative defaults, giving them the legal right to demand collateral to cover losses in the event of insolvency.

Reinstating America’s traditional banking act is crucial to protecting U.S. depositors by rebuilding the wall of separation between commercial banks and investment banking which would dissolve the “mega super market” banks.

Glass-Steagall was repealed by Congress and President Clinton in 1999 under pressure from Wall Street speculators who needed access to Main Street’s commercial bank deposits. Less than 10 years later, Wall Street suffered a financial collapse that required hundreds of billions in taxpayer bailouts to the country’s largest banks.

If implemented as an act of the United States, an act of the sovereignty of the United States, (Glass-Steagall) would effectively override Dodd-Frank. It would override this bail-in regime as soon as it is implemented,

This Act needs to be nullified or the result of its enactment will be the mass destruction of U.S. citizens through economic means. The fact is this has NOT been openly disclosed to bank depositors or the general public.

This legislation will result in the mass destruction of the citizens of the United States through economic deprivation, through the collection and extraction of funds done in such a way as to leave the US Bank holders subject to become extremely desperate to the point of extermination.


#12

Forget Trump. This is why you lose.

Direct Democracy


#13

Tell me again how you plan on fixing this by voting. Just got back from the dentist and need a good laugh.


#14

By not voting D or R. Sorry I know that’s not funny.
Dem’s had a chance to right the ship, they failed. I’m with dissent, The party can bite me.


#15

Steven, thanks for the link. This definitely looks ominous!


#16

My senator, Gary Peters, hails from a state that voted for Obama twice.

I wonder if he’ll get a job lobbying for Wall Street when he retires from ‘public service?’


#17

The bank owns your deposit. But the FDIC insures your deposit up to a quarter mill.

That said, I only bank with credit unions.


#18

Yeah, lots of discussions on bail ins, which is essentially private banks taking the money of depositors in order to be bailed out. Lets be honest though, the government can create money whenever it wants (something so called deficit hawks seem to miss). If their donors need money, the state will give them money and they will allow private financial capital to once again transfer their junk onto tax payers. Oh, and look at Timmy K. Just think, that gem could have been our VP.

Public banking, Bank of North Dakota everywhere, that is what we need. Even people at the Fed say that banking should be treated in the same way that we treat utilities.


#19

Well, kind of. The FDIC has billions in reserve but nowhere near enough when a financial crisis hits. The FDIC lets it be known that if a situation arises where more is needed than they have in reserve, the government will step in to insure deposits, which means that the government insures deposits during a financial crisis. There is no point in having these large private banks anymore.


#20

Sorry to observe the obvious, but if those who want to run for office did not have to raise huge sums of money to do so, we might have (at least a slightly) different society.
Do newspapers and other media org’s have to charge candidates full fare for their space and airtime? No. They choose to do so. If, as a condition of their corporate charter, they had to run ads at reduced or no cost, that might be start.