The Little Engine That Could

There’s a fascinating story that’s been brewing right under the radar that is beginning to sprout legs.  And I hope continues and receives a larger audience.  It’s the battle between Goldman Sachs [and by association the other TBTF’s] and the Lower East Side People’s Credit Union in NYC.  Why?  Because it’s the perfect metaphor for what’s been going on in the US since deregulation turned our financial system into an iron-fisted bully.

Occupy Wall St. [OWS] as everyone recalls was ignored at first, ridiculed and dismissed, and now has become a fixture and swirl point of political discussion.  Conversations are changing.  People are beginning to pay attention in both positive and negative ways.  OWS started to receive donations from across the country because many Americans are simply fed up with what they see as the gross corruption of money and power on our political system.

And so the Movement that was doomed at the start, who railed against the Big Banks suddenly found itself [by some accounts] with over $300,000.  What to do?  They needed a bank.  And where did they go?  To the Lower East Side People’s Credit Union, servicing the City’s low income citizens, primarily Latinos.  The People’s Credit Union decided to hold an honorary benefit for their generous depositor, the Occupy group.

And then . . . Boom!

Goldman Sachs had a near hissy fit.  Why?  Because Goldman had given People’s Credit $5000. This was not a gift, not a donation of goodwill but a drop of cash they are required under the TARP agreement to give through the Community Reinvestment Act [CRA].  They are legally required to give this money out to the community under the original deal.  But Goldman in their infinite wisdom and with hackles up over any mention of OWS has decided to use this required reinvestment as a hammer to exert their will. Goldman Sachs has demanded their $5000 back.  And also, I would suggest, they wish to set an example: You play it our way or you don’t play at all.  It’s been reported the heat has been turned up with a nasty message to People’s:

“You will never get a dime from another bank again.”

Democracy Now has been following this story. A reporter by the name of Greg Palast has done the investigative work from the start and has tried to get Goldman Sachs to give their side of the story.  Quelle surprise!  No response.  I encourage you to watch the clip from Democracy Now.  If it doesn’t get your blood boiling then I want to know what mega-tranquilizers you’re on.

This is what Occupy is all about.  This is what must change.


Can Banksters be Shamed–or at Least Influenced–by Public Opinion?

It sure looks that way. From the Wall Street Journal:

Bank of America Corp. is dropping its plan to charge customers $5 a month for making purchases with their debit cards, a person familiar with the situation said.

The move is a dramatic retreat following decisions by several rivals in recent days to drop customer tests of the new fees. SunTrust Banks Inc. and Regions Financial Corp. also said Monday that they will stop charging customers for debit-card transactions.

Bank of America decided against the fees due to negative customer feedback on the plan and the moves by rivals, which left the Charlotte, N.C., lender as the only big bank planning to levy the fee on some customers next year.

According to Bloomberg, BofA CEO David Darnell claims the bank just “listened” to customers.

“We have listened to our customers very closely over the last few weeks and recognize their concern with our proposed debit usage fee,” David Darnell, co-chief operating officer, said in a statement from the Charlotte, North Carolina-based lender today. “As a result, we are not currently charging the fee and will not be moving forward with any additional plans to do so.”

Darnell wants us to believe that he had no clue that customers would be angry at being charged for accessing their own money. But actually, he apparently paid more attention to what his competitors were doing.

Bank of America reversed course after competitors including Wells Fargo & Co. (WFC), the No. 2 debit-card issuer, decided not to charge similar fees. Atlanta-based SunTrust Banks Inc. (STI) and Regions Financial Corp., based in Birmingham, Alabama, said yesterday they will eliminate their check-card fees after customers rebelled.

At least it’s a small win for the 99%. And I’m sure the banks were paying close attention to the Occupy Movement too, even if they’ll never admit it.


TGIFriday Reads

I live in Northwest Greater Boston in a town that is far from rural. However we do encounter wildlife in my neighborhood–skunks, opossums and racoons, for example. But yesterday afternoon, as I drove down the small road where I live, I had to brake suddenly for a large, imposing bird like the one in the photo. It was casually standing right in the middle of the road. I looked to my left and saw good sized flock of these birds, and suddenly realized they were wild turkeys. They were walking around in front of someone’s house. I was amazed.

It turns out that wild turkeys have been making a comeback in Massachusetts and have been invading a number of cities and towns around here. From The Boston Globe:

On a recent afternoon, Kettly Jean-Felix parked her car on Beacon Street in Brookline, fed the parking meter, wheeled around to go to the optician and came face to face with a wild turkey.

The turkey eyed Jean-Felix. Jean-Felix eyed the turkey. It gobbled. She gasped. Then the turkey proceeded to follow the Dorchester woman over the Green Line train tracks, across the street, through traffic, and all the way down the block, pecking at her backside as she went.

“This is so scary,” Jean-Felix said, finally taking refuge inside Cambridge Eye Doctors in Brookline’s bustling Washington Square. “I cannot explain it.”

Notify the neighbors: The turkeys are spreading through suburbia. Wild turkeys, once eliminated in Massachusetts, are flourishing from Plymouth to Concord and – to the surprise of some wildlife officials – making forays into densely populated suburban and urban areas, including parts of Boston, Cambridge and, most recently, Brookline.

In Winchester, a woman was “held captive” by a wild turkey.

On Tuesday evening, around 6 p.m., a Swan Road resident was pulling into her car [sic] when a wild turkey jumped at her and started to attack her vehicle as she was trying to drive it into the garage.

The woman said that this turkey did the same thing last week, and she didn’t call the police because she thought the animal had left.

“It kept attacking the woman at her house,” said Winchester Animal Control Officer, Jerry Smith of the 17-pound turkey. “It’s been doing it for a couple of days. We can’t have animals attacking people around town.”

According to the police report, she was able to close the garage door, but ended up being trapped, unable to get to her house, because the turkey refused to leave her property.

After 15 minutes “of being held captive” the woman called the Winchester Police Department to help her get into the house.

The responding officer saw that the turkey was still on the property. He got out of his cruiser and took a shotgun with him. As soon as the turkey noticed him, it charged and the officer shot and killed it.

Yikes! I hope those turkeys don’t start hanging around in my yard. In even more bizarre news, there is snow outside my house. Apparently, I got home just in time for winter.

Remember Omar Sharif? He starred in Dr. Zhivago back in 1965. The aging movie star recently slapped a female fan while he was on the red carpet at the Tribeca Film Festival.

The actor, who was nominated for his role in 1962’s “Lawrence of Arabia,” appeared to have lost his cool when a female fan interrupted him while he was posing for photographers.

The incident, captured by a TMZ camera, shows Sharif slapping and mildly pushing the woman, then spewing venomous disapproval at having been disturbed.

“My dear!” Sharif exclaimed in Arabic, as translated by the Washington Post. “I told you I’d get to you afterwards! I just said that and you’re standing here. Put something in your brain!”

In slightly more serious news, the Republican presidential candidates are still demonstrating their stupidity on a daily basis. Some examples follow.


Mitt Romney

It isn’t enough that Mitt Romney has crazy Robert Bork advising him on the Constitution. Now he has appointed another adviser who belonged to a violent Lebanese militia in the 1980s.

Walid Phares, the recently announced co-chair of GOP presidential candidate Mitt Romney’s Middle East advisory group, has a long résumé. College professor. Author. Political pundit. Counterterrorism expert. But there’s one chapter of his life that you won’t find on his CV: He was a high ranking political official in a sectarian religious militia responsible for massacres during Lebanon’s brutal, 15-year civil war.

During the 1980s, Phares, a Maronite Christian, trained Lebanese militants in ideological beliefs justifying the war against Lebanon’s Muslim and Druze factions, according to former colleagues. Phares, they say, advocated the hard-line view that Lebanon’s Christians should work toward creating a separate, independent Christian enclave. A photo obtained by Mother Jones shows him conducting a press conference in 1986 for the Lebanese Forces, an umbrella group of Christian militias that has been accused of committing atrocities. He was also a close adviser to Samir Geagea, a Lebanese warlord who rose from leading hit squads to running the Lebanese Forces.

Romney has also clearly stated his willingness to sacrifice the lives of women to save fertilized eggs. In the Guardian, Tresa Edmunds, a Mormon, writes: If Mitt Romney’s anti-abortion crowd get their way, it could kill me

Mississippi is the latest state to support a “personhood” amendment – a law that defines life as beginning at conception and giving full legal rights to a fertilised egg. On a recent political talk show, Mitt Romney affirmed that he would “absolutely” support such an amendment to the federal constitution. Such a conservative law would have far-reaching consequences, rendering many forms of birth control, the morning-after pill and aspects of in-vitro fertilisation illegal, as well as eliminating abortion as an option even when deemed medically necessary.

This trend is also seen in the ironically named Protect Life Act, recently passed by the House of Representatives, which gives hospitals the right to refuse to perform abortions, even at the cost of a woman’s life. It is a terrifying time to have a uterus, but especially a mysteriously malfunctioning one such as mine.

My son was born weighing 2lb 4oz, at 28 weeks gestation. My pregnancy – which had been much longed for – was proceeding normally until all of a sudden a pain that turned out to be organ failure brought me to the emergency room. There, I was diagnosed with HELLP syndrome. My blood pressure was rocketing, my red blood cells were disintegrating and my platelet count was dropping. If I had managed to make it through organ failure, stroke or heart attack, I would have bled to death in delivery. Thanks to the tremendous care and expertise of talented doctors and nurses, my son and I are here to tell the harrowing story but, if things had gone differently, the only way I would be alive is if they had removed my son’s body from my womb in pieces.

Comments such as Romney’s casually tossed off “absolutely” make me shake with rage. When politicians are so concerned about the people they see as allegedly using abortion as birth control that they would let me die, I can’t help but wonder how they can dare say they care about the sanctity of life.

Edmunds is confused. Romney and the other Republican candidates care deeply only about “human life.” They obviously do not consider women to be humans.


Rick Perry

As everyone knows, Governor Goodhair hasn’t done very well in the Republican debates so far. Now it appears he is going to wimp out of future debates.

After a series of poor debate performances in the early months of his presidential campaign, Texas Gov. Rick Perry is backing off the upcoming GOP debate schedule, committing to just one of the next three events between now and Nov. 15.

Perry has struggled in the five debates he has attended since he joined the race in mid-August. At one, he fumbled an attempt to cast rival Mitt Romney as a flip-flopper. At another, bickering between Romney and Perry drew criticism that the candidates were acting juvenile.

Perry hinted at his frustration with the debates earlier this week when he told Fox News that participating in them was a “mistake.”

“These debates are set up for nothing more than to tear down the candidates,” Perry said. “…All they’re interested in is stirring it up between the candidates.”

Um… yeah. So? If Perry can’t take the heat, maybe he should get out of the kitchen. BTW, has he produced his birth certificate yet? I heard he was born in Mexico. /s


Herman Cain

At Huffpo, Dave Jamieson details Herman Cain’s long, enthusiastic battle against the minimum wage.

In his plan for economic “Opportunity Zones,” Cain offers a slate of proposals aimed at revitalizing depressed pockets of the country, including zero capital gains and payroll taxes within qualifying areas. Although it doesn’t say so explicitly, the Cain campaign’s primer on opportunity zones also suggests the possibility of rolling back minimum-wage laws in impoverished areas.

“Minimum wage laws prevent many unskilled and inexperienced workers (i.e. teens) from getting their first job and prices them out of the market,” the plan says, listing a number of potential “solutions” to urban poverty. Cain’s campaign did not immediately comment on his stance on minimum wage laws.

Minimum-wage protections are an issue Cain knows intimately. In his work as the CEO of Godfather’s Pizza and later as president of the National Restaurant Association, Cain worked diligently in Washington and in the media to see that low-wage restaurant workers could legally be paid as little as possible, as In These Times has noted. In fact, Cain’s time in the restaurant business was marked by a long and largely successful battle against minimum-wage increases, and even today, some 15 years later, many of the nation’s waiters and waitresses have Cain and the restaurant lobby to thank for a federal minimum wage of $2.13 for tipped workers.

By 1995, when Cain was at the helm of Godfather’s, the federal minimum wage had already lost much of its purchasing power since the 1960s and 70s, and it hadn’t seen a bump in five years. When then-President Bill Clinton and Labor Secretary Robert Reich proposed raising it from $4.25 to $5.15, Cain emerged as one of the leading opponents of the pay boost.


Rick Santorum

Is he really still running for president? Apparently so. He has released a new ad targeting Herman Cain’s accidental pro-choice position on abortion. The content of the ad suggests that Santorum believes that aborted embryos and fetuses can “think.”


Ron Paul

Ron Paul isn’t really an objectivist or a libertarian, even though he claims to be a follower of Ayn Rand. He can’t be, because he wants the government to get involved in policing women’s bodies. But here’s an interesting post by Gary Weiss, the author of a new book about Ayn Rand’s influence on American culture that sounds like a fascinating, if disturbing, read.

Ayn Rand’s spirit hangs over the 2012 presidential race like the aftermath of a bad meal that, for some reason, we’ve all forgotten that we’ve eaten. In the run-up to the financial crisis the markets became a kind of Fifth Estate, the ultimate arbiters of American society. This was not a Republican disease; some of the most voracious deregulation took place during the Clinton Administration. It was as if a moral choice had been made, substituting the “wisdom of the markets” for admittedly flawed and sometimes grossly inept regulators. It made perfect sense, especially in an era in which the stock market averages rose by as much as 40% in one year, but today we know, or should know, that untrammeled capitalism doesn’t work.

But you’d never know any of this when listening to the Republican candidates for president, especially the one who most overtly embodies Rand’s philosophy: Ron Paul.

Paul is by no means a card-carrying Objectivist—his embrace of religion, and his views on foreign policy, makes him anathema to Randian true believers. But his embrace of the most primitive, extreme forms of free-market, almost-zero-government capitalism comes closest to Rand’s belief system of any in the Republican field.

What’s remarkable about Paul is how effective he is at putting forward his views, extreme as they are. Indeed, the unyielding, unwavering non-flip-flopping character of his opinions is perhaps his greatest asset. He is the best friend free-market capitalism has at present, as can be seen by his recent debate performances and especially his recent triumphant appearance at Jon Stewart’s Daily Show. The man exudes small-town charm while at the same advocating positions that would make life into hell for the great majority of his followers and listeners.

I’ll end with an article about the incumbant Republican President: ‘Bundlers’ for Obama Have Active Ties to Lobbying

Despite a pledge not to take money from lobbyists, President Obama has relied on prominent supporters who are active in the lobbying industry to raise millions of dollars for his re-election bid.

At least 15 of Mr. Obama’s “bundlers” — supporters who contribute their own money to his campaign and solicit it from others — are involved in lobbying for Washington consulting shops or private companies. They have raised more than $5 million so far for the campaign.

Because the bundlers are not registered as lobbyists with the Senate, the Obama campaign has managed to avoid running afoul of its self-imposed ban on taking money from lobbyists.

But registered or not, the bundlers are in many ways indistinguishable from people who fit the technical definition of a lobbyist. They glide easily through the corridors of power in Washington, with a number of them hosting Mr. Obama at fund-raisers while also visiting the White House on policy matters and official business.

{Yawn…} Another Obama lie…so what else is new? That’s all the links I’ve got.

What are you reading and blogging about today?


Late Night: Pete Seeger and Arlo Guthrie at Occupation Columbus Circle

The Daily Beast:

If Fox News didn’t think Occupy Wall Street protesters are just a bunch of hippies already, this sure won’t help. Pete Seeger and Arlo Guthrie were the latest celebrities to join the 99%, treating the crowd to a spontaneous folk performance Friday night near New York’s Columbus Circle.

F**k Fox News!

92-Year-Old Folk Legend Lends His Voice to ‘Occupy’

On Friday night, over a month since the ‘Occupy Wall Street’ protests began as a small gathering of people so small that there was a virtual media blackout, Pete Seeger emerged from a show he had been performing on New York City’s Upper West Side to join in the protests.

There have been many musicians and celebrities who have thrown their weight behind these protesters, but the 92-year-old folk legend gives these young Americans a new sense of hope and rejuvenation. In the 1960s, he established himself as a prominent protest singer, bringing awareness to causes such as civil rights, international disarmament and the environment.

Seeger, who was wearing a red cap and carrying two canes, was joined a crowd of 600 as they headed south towards Columbus Circle (some 30 blocks away) starting from Symphony Space on 95th and Broadway. On both sides, Seeger was flanked by people carrying placards reading “Lost my job, found an occupation,” and “Corporate greed is revolution’s seed.”

The crowd resembled that of an earlier decade, as they sang “Down by the Riverside,” and “We Shall Not Be Moved,” and [Woody]Guthrie’s “This Land is Your Land.”

The audio and video aren’t that great, but it’s the revolutionary spirit that counts.


Saturday Night with the Stupids

I know that title is kind of harsh, but I’m beginning to lose my patience with the Republican candidates for President. How on earth can anyone even consider voting for one of these people? Just looking quickly at the headlines on Google, I was able to find multiple examples of complete idiocy from Rick Perry, Michele Bachmann, and Herman Cain.

Today Rick Perry went pheasant hunting in northern Iowa and was quoted as saying that he has had a “long love affair with guns.”

“As long as I’ve got memory, I had something to go hunting with,” Perry told a small gaggle of reporters at the Loess Hills Hunting Preserve. “It was a long love affair with a boy and his gun that turned into a man and his gun, and then it turned into a man and his son and his daughter and their guns.”

Look, I have nothing against hunting. My grandfather used to go pheasant hunting in North Dakota every year, and we enjoyed eating what he brought back. But I can’t imagine my grandfather ever talking about loving his guns. That’s just sick.

The Boston Globe noted that Perry seemed a lot more comfortable holding a gun than performing on the debate stage. And he wants to make it easy for everyone to become a gun-lover.

As governor, Perry supported legislation that made it easier for Texans to pay for a concealed handgun license, and a bill to let them keep their concealed handgun licenses for five years instead of four. He helped cut agreements with other states to let Texans carry their concealed handguns outside the state.

Perry has his own concealed handgun license — and regularly carries one, once famously shooting a coyote that was threatening his daughter’s Labrador retriever while out on a jog. The gun company, Ruger, has a special version of its .380 in Perry’s honor: the True Texan Coyote Special.

And where it comes to guns, Perry has plenty of the same aggressive bravado he’s displayed on the debate stage. He sent a video introduction to the National Rifle Association Convention that featured him shooting a rifle and calling himself “a believer in the notion that gun control is hitting what you’re aiming at.” (He’s also said it’s “use both hands.”)

Something tells me if Perry ever got elected, he’d get worse treatment from the Villagers than Carter or Clinton did. He comes across as the consummate hillbilly (not that there’s anything inherently wrong with being a hillbilly).

Perry also announced his “economic plan” today, and it’s going to drive Dakinikat nuts.

Rick Perry previewed the economic plan he will roll out on Tuesday, saying he would call for trashing the current tax code and replacing it with a flat tax, ending all earmarks, enacting a balanced budget amendment and reforming entitlements.

“It’s time to get Washington out of the way in order for us to preserve the American way,” Perry said. “The American people may be bruised but they’re not broken and they want a new president who can deliver the hope and change that this one that we have today promised.”

It sounds pretty changy, but not very hopey, if you ask me. Perry also had this to say about women’s reproductive rights:

Maintaining the U.S. moral authority in the world begins with preventing abortion and protecting “innocent and vulnerable unborn children,” Perry said.

For that reason, government must take an active role in legislating restrictions on the procedure, he said.

Really? The country’s “moral authority” depends on controlling women’s bodies? What about torture, war, summary assassinations, and government corruption? I guess those are all “moral.”

Next up, Michele Bachmann. A couple of days ago, her entire New Hampshire staff quit, and she didn’t even know it.

According to POLITICO and WUMR, Bachmann’s entire New Hampshire staff jumped ship, partly because they hadn’t been paid in a month. That story seemed to make sense, considering the severe fundraising shortfalls in the Bachmann camp and growing dissatisfaction with her as a candidate.

However, Bachmann released a statement about her New Hampshire staff, saying, “That is a shocking story to me… I don’t know where this came from, but we’ve made call and it’s certainly not true.” Well, if she’s made calls, then certainly we must believe her! There’s no way Michele Bachmann could be so incredibly wrong about the status of her own campaign!

….According to Jeff Chidester, who is either Bachmann’s current New Hampshire campaign director if you believe Michele, or her former campaign director if you believe Jeff, “The New Hampshire team has quit.” When asked about Michele’s statement that they were still working for her, Chidester added, “I’m sorry the national team is confused. They shouldn’t be.”

Sigh…

But Herman Cain has to be the stupidest of these three. He amazed everyone by going on CNN and, in so many words, declaring himself pro-choice. Now he’s trying to walk that back, and not doing a very good job of it. Here his is on Fox News sounding completely confused. This guy has no understanding of any issue–even the ones most near and dear to his wingnut fans.