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Posts Tagged ‘Matt Taibbi’

Like Republican Party politicians, politicians of the Democratic Party sell their legislative favors to the big money boys for campaign contributions, cushy jobs after they leave office, and millions of dollars in speaking fees. Unlike the Republican Party, the Democratic Party is rapidly fading away.

In fact, it’s reasonable to call the Democratic Party a cash raising machine rather than a political party. As a political party, the corrupt Democratic Party maybe a spent force in national and state elections. So what’s the problem with the Democrats? Let’s begin at the top.

Wall Street President Barack Obama is trying to deliver the biggest income redistribution scam to Wall Street and large corporate donors in time for the Democratic Party to maximize campaign donations just in time for the 2016 election, according to Matt Taibbi of Rolling Stone. Even though Obama might deliver the goods, the beneficiaries of his largeness might not pony up the cash for a dying political party.

The scam is called the Trans Pacific Partnership (TPP), which is falsely being marketed as a trade agreement.

The TPP will redistribute massive sums of cash to big corporate donors stolen from the 99 percent. Hundreds of thousands, and likely multiple millions, of jobs will be exported from the USA to lower wage nations due to the TPP. The difference between the old higher US wages will and the new lower foreign wages will go straight into the pockets of the uber rich via higher corporate earnings, share prices and dividends.

This will be a massive boon for the 1 percent, if it comes to pass, but the TPP is likely the death blow to the remains of the Democratic Party. The reason is simple.

In order for the Democratic Party to be relevant in national and state politics, the Party must be able to muster votes. However, the Democratic base is the thing income redistribution agreements, like the TPP, hurts the most. This isn’t lost on the base, so the base is quietly and quickly fading away. Look at the numbers.

In 2008, the base rallied to President Obama and the Democratic Party under the “Hope and Change” hype of candidate Obama. When Obama took office, the Democratic Party controlled 60 US senate seats for a short while and fifty-nine for many months afterward. The Democrats held 237 US House of Representative seats, compared to 178 Republican held seats.

When he became president, Obama did his best to enrich his Wall Street benefactors at the expense of the 99 percent. He began by letting Health Insurance executives write a health care law that compelled the taxpayers to guarantee their profits into infinity. No public option, however miniscule, was on the table. Obama was also desperate to give Wall Street the South Korea income redistribution agreement, which he falsely labeled a trade agreement. Obama was also willing to reduce social security payments to the elderly in order to continue the Bush tax cuts for the rich. And these were just a few things that smelled bad to the base. Obama was a bitter disappointment for many Democrats for this and other reasons during his first two years in office.

The result was simple; the Republicans took the US house in 2010, and reduced the Democrats majority in the US senate. The corporate press lied to us and said this was normal. In fact, it was anything but normal.

Franklin Delano Roosevelt (FDR) was elected president in a landslide in 1932, as the Great Depression rolled along. The Democrats also enlarged their numbers in the US senate, from 48 in 1930 to 60 in 1932. And the Party took control of the US house that year, with a massive 313 members, compared to only 117 Republican representatives.

FDR took his job seriously, established the New Deal; he worked to end the Great Depression, but he also worked to curb the economic and political power of the wealthy. FDR came from a rich family, but then, he wasn’t called a “traitor to his class,” for nothing.

So what happened in the elections of 1934? With a president and congress working for all the people, rather than a tiny wealthy minority, as has been the case with Obama, the Democratic Party increased its numbers in the senate to 69, and 322 members in the US house.

What happened under President Obama? Well, many members of the political establishment, such as Wall Street Senator Ron Wyden, worked harder and harder to deliver more and more financial goods for the corporate establishment at the expense of the 99 percent.

In 2012, the Republicans gained more seats in the US house, 242 to 192. The Democrats, along with two independents who caucus with the Democrats, still held the US senate, but their majority was reduced to 53.

As the rich got richer under Obama and the Democrats, as their power and influence dwindled due to their obvious ties to Wall Street, and as the TPP became more well known through leaked documents, a larger section of the Democratic base stayed home during the 2014 elections.

In 2014, the Republicans swept to commanding majorities in the senate (with 54 seats) and the US house (247 seats compared to 188 Democratic representatives). The base stayed home, and most likely, permanently.

The Democratic leadership is rapidly becoming the leader of nothing, since the Democratic Party base is rapidly evaporating with every income redistribution scam the Party leadership can concoct.

Instead, the base is rallying to Bernie Sanders, while abandoning the latest Wall Street Democratic presidential candidate, Hilliary Clinton. She refuses to mention anything about the TPP lately, although she has publicly supported it in the past. Around election time it’s best to stay mum about her TPP position since getting their jobs sent overseas isn’t very popular with the Democratic base, what’s left of it anyway.

The Democratic leadership has only one thing to sell Wall Street; government power. The Democrats need to win elections in order to offer this product to Wall Street, and it needs votes in order to achieve these aims. But nowadays, votes are something in short supply for the Party the more they sell government favors to their Wall Street parasite friends.

The Trans Pacific Partnership has galvanized the base against the Party more than ever before. The base is rallying to independent presidential candidate Bernie Sanders, who looks a lot like what Democrats once stood for.

The TPP most likely means permanent minority status for the Party, and likely extinction in the future.

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Referring to the Democratic Party meltdown in allowing a provision sneakily put in the latest budget bill (by corrupt Wall Street Republican Congressman Kevin Yoder of Kansas) that allows Wall Street investment banks to gamble with taxpayer money and expect to be bailed out if their gamble fails, Matt Taibbi of Rolling Stone magazine wrote on December 13;

“If the Democrats actually stood for anything other than sounding as progressive as possible without offending their financial backers, then they would do what Republicans always do in these situations: force a shutdown to save their legislation. How many times did Republicans hold the budget hostage to rescue the Bush tax cuts? But the Democrats won’t do that here, because they’re not a real (political) party. They’re a marketing phenomenon, a big chunk of oligarchical”…”single furiously-money-collecting/favor-churning oligarchical Beltway party…cleverly sold to voters as the more reasonable and less nakedly corrupt wing of a two-headed political establishment.”

The budget battle of December 2014 proved a particularly gruesome point; both political parties have been totally corrupted by big money unleashed by the Reagan tax cuts, as well as other tax cuts, and the politicians of the US government are absolutely corrupt, with few exceptions, such as Bernie Sanders, Elizabeth Warren, Sherrod Brown, Jeff Merkley, Alan Grayson, and perhaps David Vitter. That’s why the political and economic game is totally rigged against the 99 percent.

For the rest of Matt Taibbi’s story, click the link below.

Dodd-Frank Budget Fight Proves Democrats Are a Bunch of Stuffed Suits Read more: http://www.rollingstone.com/politics/news/dodd-frank-budget-fight-proves-democrats-are-a-bunch-of-stuffed-suits–Rolling Stone Magazine

True story. The US government has caught major US banks laundering drug money time and time again and not a soul has gone to jail.

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With the super rich determining the rules and regulations handed out by government, the game has been stacked and rigged by the 1 percent against the 99 percent, and against the USA, as well. It began with the Lewis Powell Memo of 1971. It was a manifesto outlining how the super rich could dominate the economic and political landscape of the United States, as they had before the 1930s. The Great Depression was a direct result of their rule. Within a year of giving his manifesto to the US Chamber of Commerce, President Richard Nixon selected Powell to become a US Supreme Court Justice. Powell had never been a judge, and in fact, he was a lawyer for a tobacco corporation, defending the company against claims that the company lied about tobacco not being a cancer cause.

The US Chamber acted on Powell’s manifesto, and essentially, that’s how we got to where we are today; lower standards of living, massive personal and government debt, decreased real wages, massive redistribution of income and wealth from the 99 to the 1 percent via federal and state legislation, a federal government corrupted by big money and as corrupt as any banana republic on both the state and federal levels, financial inequality like none ever before in US history, an historically weak economy, huge media consolidation so bad that the news media in the US no longer exists and has been replaced by a network of propaganda machines whose purpose is to keep the 99 percent dumbed-down and ignorant to the benefit of the 1 percent, school districts starving for money because the jobs that supported the tax bases have been shipped overseas and the difference between the higher old wages here and the old wages there have gone into the pockets of the 1 percent via higher corporate profits, share prices and dividends, and the list goes on and on.

Understand one thing that Lewis Powell showed up; the US Supreme Court is nothing more than a tool of the 1 percent, and has been for at least twenty years. Justice in the USA? What a joke! The deck is completely stacked against the 99 percent.

Check out the links below for the Powell Manifesto, the plan by a future supreme court justice to steal democracy, and the Bill Moyers video of where we are in that plan.

The Lewis Powell Memo–Common Dreams

Full Show: Plutocracy Rising | Moyers & Company | BillMoyers.com.

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US Corruption: The Stink has been Rising to the Clouds

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Matt Taibbi is his usual brilliant self in the video below, but his conclusions are wrong, not in fact, but as a matter of degree. Corporations and the rich control the US government, as well as most state governments. And this is especially true for Wall Street executives and banks. That’s why and how the game is rigged against the middle class.

By the way, when a rich person, such as Grover Norquist, says he wants to shrink government so small you can drown it in your bathtub, he means government for the 99 percent. He doesn’t have a problem with government growing so long as it’s profitable for a select few.

Check out the video below.

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Matt Taibbi of Rolling Stone has once again exposed the banksters, Obama, Bush, the liars and the thieves in a marvelous piece of investigative journalism that we will never get from the corporate mainstream press. This time his story is about the distribution of the TARP bailout, which would have done this nation a ton of good if it had never happened. Taibbi tells us below what occurred with the bailout.

“So what exactly did the ($700 billion Tarp) bailout accomplish? It built a banking system that discriminates against community banks, makes Too Big to Fail banks even Too Bigger to Failier, increases risk, discourages sound business lending and punishes savings by making it even easier and more profitable to chase high-yield investments than to compete for small depositors. The bailout has also made lying on behalf of our biggest and most corrupt banks the official policy of the United States government. And if any one of those banks fails, it will cause another financial crisis, meaning we’re essentially wedded to that policy for the rest of eternity – or at least until the markets call our bluff, which could happen any minute now.”

Click the link below for the complete story.

Secrets and Lies of the Bailout

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NEW YORK — A US judge Monday rejected a $285 million settlement Citigroup made with US regulators over its marketing of mortgage securities that quickly went sour, saying the bank was getting off lightly.

New York federal court judge Jed Rakoff scolded the Securities and Exchange Commission for agreeing to a deal that he called inadequate and not in the public interest.

He also labelled the huge bank a “recidivist” that viewed such fines as “pocket change” and simply “a cost of doing business.”

Matt Taibbi of Rolling Stone discussed Monday on Countdown with Keith Olbermann the “unusual” decision of a judge to reject settlement Citigroup made with U.S. regulators over its marketing of mortgage securities.

New York federal court judge Jed Rakoff scolded the Securities and Exchange Commission (SEC) for agreeing to a deal that he called inadequate and not in the public interest.

“He came out basically and said that the SEC and Wall Street have been in a wink-wink, nudge-nudge arrangement for years,” Taibbi explained.

Click this link for greater coverage of this story

Click the link below for Keith Olbermann’s interview on this issue with Matt Taibbi.

http://current.com/bc/1299852505001?linkBaseURL=http%3A%2F%2Fcurrent.com%2Fshows%2Fcountdown%2Fvideos%2Fmatt-taibbi-on-judge-rakoff%25e2%2580%2599s-decision-to-reject-the-sec%25e2%2580%2599s-latest-settlement-with-citigroup

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