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Hawaii
17 years ago
Monday, September 29, 2008
Friday, September 26, 2008
Cynthia McKInney on the Bailout
Points for Congressional action immediately in the wake of the financial crisis now gripping our country:
1. Enactment of a foreclosure moratorium now before the next phase of ARM interest rate increases take effect;
2. Elimination of all ARM mortgages and their renegotiation into 30- or 40-year loans;
3. Establishment of new mortgage lending practices to end predatory and discriminatory practices;
4. Establishment of criteria and construction goals for affordable housing;
5. Redefinition of credit and regulation of the credit industry so that discriminatory practices are completely eliminated;
6. Full funding for initiatives that eliminate racial and ethnic disparities in home ownership;
7. Recognition of shelter as a right according to the United Nations Declaration of Human Rights to which the U.S. is a signatory so that no one sleeps on U.S. streets;
8. Full funding of a fund designed to cushion the job loss and provide for retraining of those at the bottom of the income scale as the economy transitions;
9. Close all tax loopholes and repeal of the Bush tax cuts for the top 1% of income earners; and
10. Fairly tax corporations, denying federal subsidies to those who relocate jobs overseas repeal NAFTA.
11. Appointment of former Comptroller General David Walker to fully audit all recipients of taxpayer cash infusions, including JP Morgan, Bear Stearns, Fannie Mae, Freddie Mac, and AIG, and to monitor their trading activities into the future;
12. Elimination of all derivatives trading;
13. Nationalization of the Federal Reserve and the establishment of a federally-owned, public banking system that makes credit available for small businesses, homeowners, manufacturing operations, renewable energy and infrastructure investments; and
14. Criminal prosecution of any activities that violated the law, including conflicts of interest that led to the current crisis.
1. Enactment of a foreclosure moratorium now before the next phase of ARM interest rate increases take effect;
2. Elimination of all ARM mortgages and their renegotiation into 30- or 40-year loans;
3. Establishment of new mortgage lending practices to end predatory and discriminatory practices;
4. Establishment of criteria and construction goals for affordable housing;
5. Redefinition of credit and regulation of the credit industry so that discriminatory practices are completely eliminated;
6. Full funding for initiatives that eliminate racial and ethnic disparities in home ownership;
7. Recognition of shelter as a right according to the United Nations Declaration of Human Rights to which the U.S. is a signatory so that no one sleeps on U.S. streets;
8. Full funding of a fund designed to cushion the job loss and provide for retraining of those at the bottom of the income scale as the economy transitions;
9. Close all tax loopholes and repeal of the Bush tax cuts for the top 1% of income earners; and
10. Fairly tax corporations, denying federal subsidies to those who relocate jobs overseas repeal NAFTA.
11. Appointment of former Comptroller General David Walker to fully audit all recipients of taxpayer cash infusions, including JP Morgan, Bear Stearns, Fannie Mae, Freddie Mac, and AIG, and to monitor their trading activities into the future;
12. Elimination of all derivatives trading;
13. Nationalization of the Federal Reserve and the establishment of a federally-owned, public banking system that makes credit available for small businesses, homeowners, manufacturing operations, renewable energy and infrastructure investments; and
14. Criminal prosecution of any activities that violated the law, including conflicts of interest that led to the current crisis.
Presidential Sitcom?
The Odd Couple: Ralph Nader and Obama Girl Share Office Space and Ideas about the Presidential Debate
Who: Ralph Nader, Obama Girl, and Jesse Ventura
What: First episode of new online sitcom: Ralph Nader and Obama Girl Show (Special Guest Appearance by Jesse Ventura)
Where: Washington, DC, Nader for President 2008 HQ
Why: The economic crisis has resulted in some odd political couples over the past few days. Now we have Ralph Nader and Obama Girl sharing office space in the new sitcom "The Obama Girl and Ralph Nader Show", with a special appearance from Jesse Ventura. Both Obama Girl and Nader agree, this is precisely the time when the candidates should be appearing before the nation.
Short Description of First Episode: Despite the troubles with our nation's economy Obama Girl whole heartedly agrees with her man that this is precisely the time when the presidential candidates should be appearing before the nation. But if McCain does back out, fear not...Obama Girl has a new officemate who is most definitely willing to participate. None other than independent presidential candidate Ralph Nader.
View the first episode here
Who: Ralph Nader, Obama Girl, and Jesse Ventura
What: First episode of new online sitcom: Ralph Nader and Obama Girl Show (Special Guest Appearance by Jesse Ventura)
Where: Washington, DC, Nader for President 2008 HQ
Why: The economic crisis has resulted in some odd political couples over the past few days. Now we have Ralph Nader and Obama Girl sharing office space in the new sitcom "The Obama Girl and Ralph Nader Show", with a special appearance from Jesse Ventura. Both Obama Girl and Nader agree, this is precisely the time when the candidates should be appearing before the nation.
Short Description of First Episode: Despite the troubles with our nation's economy Obama Girl whole heartedly agrees with her man that this is precisely the time when the presidential candidates should be appearing before the nation. But if McCain does back out, fear not...Obama Girl has a new officemate who is most definitely willing to participate. None other than independent presidential candidate Ralph Nader.
View the first episode here
Bob Barr's Election Updates
Libertarian candidate Bob Barr will be in Charleston on Tuesday, September 30th. You are invited to a Fundraising Dinner with Bob at the Sunfire Grill in West Ashley at 7:00. With a minimum contribution of $30, you will receive dinner, a sign for your yard, and a bumper sticker. Dinner is a choice of a 10 oz Ribeye over mashed potatoes topped with a red wine demi or Pan fried stuffed chicken over mashed potatoes topped with a mushroom cream sauce. You can prepay by credit card, but contributions will also be accepted at the door. Seating is limited. Please make reservations early. Contact wwoolsey@comcast.net or call (843) 795-5062.
Barr will speak at 10:00 to Citadel cadets, to the Charleston Rotary Club at 12:30, and at the College of Charleston at 2:30.
Also, a study released today by the National Taxpayers Union (NTU) listed Bob Barr as the most fiscally responsible candidate running for president, noting a Barr presidency would cut federal spending by a whopping $200.9 billion.
The study found that Sen. John McCain would raise federal spending by nearly $100 billion, compared Sen. Barack Obama's plans that would raise spending by almost $300 billion.
The figures are compiled based on campaign statements up to September 19, and do not include bailouts proposals supported by Senators McCain and Obama.
"Both the McCain and Obama campaigns have tried to keep pace with the political issues of the day -- largely by responding with proposals for new programs and regulations that could reach deeper and deeper into taxpayers' pockets," NTUF Senior Policy Analyst Demian Brady said. "On the other side of the spectrum, Bob Barr's Libertarian philosophy is strongly reflected in a platform that is built upon cutting programs and slashing spending."
The study finds that the bulk of Barr's spending cuts comes from withdrawing troops from Iraq ($92.4 billion in annual savings) and eliminating the Department of Education ($92.4 billion in annual savings).
Barr will speak at 10:00 to Citadel cadets, to the Charleston Rotary Club at 12:30, and at the College of Charleston at 2:30.
Also, a study released today by the National Taxpayers Union (NTU) listed Bob Barr as the most fiscally responsible candidate running for president, noting a Barr presidency would cut federal spending by a whopping $200.9 billion.
The study found that Sen. John McCain would raise federal spending by nearly $100 billion, compared Sen. Barack Obama's plans that would raise spending by almost $300 billion.
The figures are compiled based on campaign statements up to September 19, and do not include bailouts proposals supported by Senators McCain and Obama.
"Both the McCain and Obama campaigns have tried to keep pace with the political issues of the day -- largely by responding with proposals for new programs and regulations that could reach deeper and deeper into taxpayers' pockets," NTUF Senior Policy Analyst Demian Brady said. "On the other side of the spectrum, Bob Barr's Libertarian philosophy is strongly reflected in a platform that is built upon cutting programs and slashing spending."
The study finds that the bulk of Barr's spending cuts comes from withdrawing troops from Iraq ($92.4 billion in annual savings) and eliminating the Department of Education ($92.4 billion in annual savings).
Wednesday, September 24, 2008
Statement from Independent Candidates
Statement from Independent Presidential Candidate Ralph Nader and Libertarian Presidential Candidate Bob Barr on McCain's Call to Delay Debates:
The fact that a candidate can call for changing the date of the debate only two days before it is scheduled indicates how easy it would be for the candidates to also call for the inclusion of the leading third party and independent candidates, which would bring fresh ideas to the table on how our country can truly tackle this heavy challenge.
The fact that a candidate can call for changing the date of the debate only two days before it is scheduled indicates how easy it would be for the candidates to also call for the inclusion of the leading third party and independent candidates, which would bring fresh ideas to the table on how our country can truly tackle this heavy challenge.
Richest Members of Congress
# 36. Rep. John Spratt (D-S.C.) $7.50 million
Spratt’s minimum net worth soared in 2007 as the value of an 800-acre swath of pasture land in Fort Mill, S.C., moved into the $5 million to $25 million range.
The increase over its previous minimum $1 million listing swells the Democrat’s fortunes by $4 million, the largest factor in his 141 percent increase.
Spratt’s other assets include investments in Bank of America Corp. valued at $500,000 to $1 million and York Bancshares at $1 million to $5 million.
His real estate holdings include a D.C. rental unit and properties in South Carolina, with a combined value of at least $850,000.
Spratt carries $480,000 in debt, a combination of mortgage debt, credit cards and promissory notes.
#13. Sen. John McCain (R-Ariz.) $19.64 million
McCain’s true value is impossible to estimate because most of the major assets are listed in the name of his wife or children, thereby requiring far less detailed disclosure. Other news outlets have suggested that Cindy McCain’s net worth may exceed $100 million, but there is no documentation to prove that figure.
McCain’s disclosure form lists 12 items with values of “over $1 million” that are owned by his wife and children. In 2007, the family liquidated a trust set up by Cindy McCain’s late mother that had a reported value in 2006 of more than $2.5 million. The proceeds were then distributed to three other trusts, which show a minimum value of $1.4 million. Cindy McCain also liquidated a blind trust in 2007, selling millions of dollars worth of stock, and the reported value of the stock she owns through Hensley & Co. — her family’s beer distributorship — dropped more than $4 million in value last year.
The only assets McCain claims as his own are a checking account with a balance of $15,000 to $50,000, a money market fund worth less than $15,000 and several book deals.
SOURCE: See the top 50 richest members of Congress at Roll Call
Spratt’s minimum net worth soared in 2007 as the value of an 800-acre swath of pasture land in Fort Mill, S.C., moved into the $5 million to $25 million range.
The increase over its previous minimum $1 million listing swells the Democrat’s fortunes by $4 million, the largest factor in his 141 percent increase.
Spratt’s other assets include investments in Bank of America Corp. valued at $500,000 to $1 million and York Bancshares at $1 million to $5 million.
His real estate holdings include a D.C. rental unit and properties in South Carolina, with a combined value of at least $850,000.
Spratt carries $480,000 in debt, a combination of mortgage debt, credit cards and promissory notes.
#13. Sen. John McCain (R-Ariz.) $19.64 million
McCain’s true value is impossible to estimate because most of the major assets are listed in the name of his wife or children, thereby requiring far less detailed disclosure. Other news outlets have suggested that Cindy McCain’s net worth may exceed $100 million, but there is no documentation to prove that figure.
McCain’s disclosure form lists 12 items with values of “over $1 million” that are owned by his wife and children. In 2007, the family liquidated a trust set up by Cindy McCain’s late mother that had a reported value in 2006 of more than $2.5 million. The proceeds were then distributed to three other trusts, which show a minimum value of $1.4 million. Cindy McCain also liquidated a blind trust in 2007, selling millions of dollars worth of stock, and the reported value of the stock she owns through Hensley & Co. — her family’s beer distributorship — dropped more than $4 million in value last year.
The only assets McCain claims as his own are a checking account with a balance of $15,000 to $50,000, a money market fund worth less than $15,000 and several book deals.
SOURCE: See the top 50 richest members of Congress at Roll Call
Bailout talk from 2 candidates
From the Nader/Gonzalez Campaign: Haste Makes Waste.
From the Green Party (not on the SC ballot):
Independent presidential candidate and longtime consumer advocate Ralph Nader said today that he opposes giving Treasury Secretary Henry Paulson -- heralded as King Henry on the cover of Newsweek -- what amounts to a blank check for $700 billion with nothing more than a promise to keep the U.S. financial system from imploding. Nader said that any bailout should have strict accountability, conflict-of-interest, regulatory, and oversight rules attached, including a cap on executive compensation and stock warrants for the rescuing taxpayers.
"Of all the insults Bush's monarchy has ever hurled at Congress, a supposedly co-equal branch of government, this one breaks new ground in shattering the bedrock principle of separation of powers and checks and balances under our Constitution and replacing it with blanket Congressional surrender of its authority to Bush's White House.
"Rather than race home to run for re-election, members of Congress should do what they were sent to Washington to do: carefully draft the legislation that will serve the needs of Main Street and Elm Street, not the greed, fraud and recklessness of Wall Street.
"Why should the American taxpayers bail-out fraud, recklessness and criminal irresponsibility?" asks Nader. "Why should the American people trust the judgment of the very administration that has gotten us into this mess?"
Nader expressed strong agreement with William Greider of The Nation who recently wrote that "If Wall Street gets away with this, it will represent an historic swindle of the American public -- all sugar for the villains, lasting pain and damage for the victims."Nader also calls for changes to the bill that would include:
• Provisions for homeowners to stay in their homes in default, or rent them at market value.
• A cap on executive compensation and disgorgement of ill-gotten gains.
• A stimulus package for infrastructure repair and upgrade to generate new community jobs.
• Comprehensive regulation of and disclosures by the financial industry and Wall Street to prevent this from occurring again.
• Prudent margin requirements on derivatives trading and a tax on securities derivatives transactions.
• Shareholders control over the corporations they own.
• Tougher criminal enforcement against culpable firms and executives.
From the Green Party (not on the SC ballot):
Cynthia McKinney / Rosa Clemente Campaign Update.
Last week's statement, issued in the wake of the $81 billion give-away to AIG is now seeming more prescient every day, with another $700 billion give-away proposed for the very bankers who's gambling in the derivatives market created the crisis. Meanwhile we watch as both parties in Congress continue to ignore a related foreclosure crisis that is putting more and more people on the streets every day.
We hope you will use this week to empower people in your community, to share the questions Cynthia raises and the proposals for 'fundamental change' she identifies and use the following piece to let folks know that we do have a choice in 2008. Ours is a real choice, not one between banker-financed candidates parroting policies already set in motion to destroy this planet and its peoples. We get to choose between peace and war, between justice and avarice, between voting for our highest hopes and aspirations, rather than merely against our worst fears.
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