The Casino Capitalism of Wall Street destroyed the Global Economy, imposed austerity on unsuspecting people, left many homeless, destroyed families...are we going to forget what uncontrolled GREED accomplished and follow like sheep?
American taxpayers were forced to bailout these greedy clowns....
...and the Corporate Media marches in lockstep.....some might call it 'Goose Stepping'...
...are we just gonna follow again?
FROM DFA:
I bet Wall Street wasn't expecting this.
When the news leaked that Citigroup and a bunch of other big Wall Street banks were considering withholding donations to the Democratic Senatorial Campaign Committee (DSCC) in order to "punish" Elizabeth Warren and other progressive leaders in the party, Robert Reich asked Democracy for America members to see their bet and then raise it -- by asking the DSCC to proactively turn down donations from all big banks, period.
As incredible as the response has been to Elizabeth Warren's stand and Robert Reich's call-to-action, we need to build more support ASAP. Here's why taking a stand here and now is important:
The 1% think they can buy anything, including our government. And to some degree, Democrats have let them.
In the post-Citizens United world, more and more Democrats have become so fixated on keeping up with the Republicans on fundraising that they've opened themselves up to being bullied by corporations like Citigroup who are more interested in protecting their fat bonus checks than in rebuilding our middle class.
Enough is enough. We need a Democratic Party that works for all of us, not just big Wall Street banks like Citigroup. And that means we need Democratic Party organizations like the DSCC -- as well as Democratic candidates -- to tell the big Wall Street banks to get lost.
FROM ROBERT REICH:
I don't remember the last time I was this outraged by something I read in the news. A few days ago, Reuters broke this shocking news with the following headline:
Exclusive: Upset By Elizabeth Warren, U.S. Banks Debate Halting Some Campaign Donations
That's right, Wall Street is throwing a temper tantrum about Elizabeth Warren. They're threatening to take their money and go home:
"Representatives from Citigroup, JPMorgan, Goldman Sachs and Bank of America, have met to discuss ways to urge Democrats, including Warren and Ohio Senator Sherrod Brown, to soften their party's tone toward Wall Street, sources familiar with the discussions said this week...
Citigroup has decided to withhold donations for now to the Democratic Senatorial Campaign Committee (DSCC) over concerns that Senate Democrats could give Warren and lawmakers who share her views more power, sources inside the bank told Reuters."
My first reaction? Good riddance. Democrats don't need their money.
As I thought about it more, Wall Street's plan became clear. They aren't going to stop donating. They are using this as a threat. The big banks want Democrats to stop listening to Elizabeth Warren and other progressive voices and start doing what Wall Street demands, no matter how damaging it is to the American people.
It's time we went on offense. The DSCC should not wait for Wall Street to decide its next move. Instead, the DSCC should tell Wall Street to get lost. We believe that the DSCC must stop chasing Wall Street money and start focusing on electing Democrats who will stand with Elizabeth Warren and other progressives. Will you stand with us?
Take a stand against these Wall Street bullies. Join me in signing DFA's petition asking the DSCC to refuse to accept donations from Wall Street banks.
How did Elizabeth Warren respond to this news? Exactly the way you thought she would. She's not going to waver one bit from her agenda:
"I'm not going to stop talking about the unprecedented grasp that Citigroup has on our government's economic policymaking apparatus. I'm not going to stop talking about the settlement agreements that JPMorgan makes with our Justice Department that are so weak, the bank celebrates by giving their executives a raise. And I'm not going to pretend the work of financial reform is done, when the so-called "too big to fail" banks are even bigger now than they were in 2008.
The big banks have issued a threat, and it's up to us to fight back. It's up to us to fight back against a financial system that allows those who broke our economy to emerge from a crisis in record-setting shape while ordinary Americans continue to struggle. It's up to us to fight back against a regulatory system that is so besieged by lobbyists -- and their friends in Congress -- that our regulators forget who they're working for."
She's absolutely right. We've got to fight back. Let's start by having the Senate Democrats declare independence from Wall Street. Big money is already corrupting our political process. The DSCC should tell Wall Street to take a hike.
Join me in signing DFA's petition: Tell the DSCC to refuse to take donations from Wall Street banks like Citigroup.
It's not like the DSCC would be risking their chances of taking back the Senate in 2016 by refusing to take money from Wall Street banks. Right now, the maximum that an individual bank can give to the DSCC each year is $15,000.
Instead, Democrats would actually make it more likely that they'll take back the Senate. We saw in 2014 that Senate Democrats who ran strong populist campaigns that took on Wall Street -- like Al Franken, Brian Schatz, and Jeff Merkley -- had no problem winning. Democrats who tried to appease Wall Street, however, struggled and often lost.
Democrats should also remember how President Franklin D. Roosevelt dealt with the rich and powerful of his time. Just days before the 1936 election, he gave a famous speech at Madison Square Garden. The wealthy elite had spent the first four years of FDR's presidency attacking him. Here's how he responded in that historic speech:
"They are unanimous in their hate for me -- and I welcome their hatred."
FDR won 60% of the vote just four days later and was reelected in a landslide. As we head into the 2016 campaign, the DSCC should give the same response to the big banks when they whine about populist policies to reform the financial industry.
Tell the DSCC you welcome Wall Street's hatred as well. Join me and sign DFA's petition urging the DSCC to reject Wall Street campaign donations.
Thank you for standing up and fighting back against these Wall Street bullies.
Robert Reich
Former Secretary of Labor
Paid for by Democracy for America, http://www.democracyforamerica.com/?t=5&akid=6068.127462.BJbmZk
and not authorized by any candidate. Contributions to Democracy for America are
not deductible for federal income tax purposes.
No comments:
Post a Comment