We Speak For Earth
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ikenbot CWL -
mohandasgandhi Mohandas Gandhi -
realcleverscience Real Clever Science -
socialuprooting Social Uprooting -
abstractnerd Abstract Nerd -
perscientiamlibertas A Matter of the Most Pleasant Fraternal Confidence
Colbert Report:
AmericansElect.org CEO Elliot Ackerman believes that individuals should have the power and tools to draft and directly nominate their own presidential candidate.
This sounds awesome but I really need to look into it more. If anyone has any info or opinions about it, shoot me a message!
Of all the criticisms of the Occupy Wall Street movement — which marks its one-year anniversary today — the most frustrating is that the participants allegedly do not know what they’re protesting against. Whether that comes from hip-hop moguls or from the Tea Party, the criticism is wrongheaded and delightfully so.
Why? Because Wall Street is a financial behemoth with many moving parts and tendrils that reach into every facet of society and government. It helps buy homes and takes them away; we buy debt from them to help fix the economy even though they wrecked it in the first place — and even admit to it; they keep one segment of the population in some form of indentured servitude and also the same for another. Heck, they even tried to stop this thing from happening.
And that’s just a sampling.
The Occupy folks down at Zuccotti Park — and at at least 15 other locations in the United States today — have every right to be concerned with Wall Street’s antics. Granted, our nation’s banks and financial corporations are a major driver of the economy, and we’re not ignorant to their critical roles on the regional, national and international stage.
But should we not call for more regulations to help prevent a repeat of 2008? Should we not call for banks to forgive bad loans (why shouldn’t it be just as much on the lender as the lendee when a $500,000 mortgage granted with virtually no money down to a person who eventually defaults on said loan?) and creditors not to charge sky-high APR’s?
And why should we overlook that one major political party is calling for continuing tax breaks for the most wealthy of Americans — the One Percent — while the Supreme Court essentially agrees that corporations are people too, my friend?
During their national convention in Charlotte — at least in primetime — the Democratic Party seemed to make no mention of the Occupy movement. That’s unfortunate, because the broader #OWS platform seems at first glance to reflect the Dems’ values of pushing for stricter financial regulations, doing away with the Bush-era tax cuts for the rich and corporations, and lessening the effects of economic disparity. Doesn’t it make sense to at least acknowledge what the folks at Zuccotti Park are getting arrested for today?
Ignoring an entire movement instead of helping it refine and broadcast its message could be a serious misstep for the Dems come November. (One only need to look at the Republicans, which until it nominated Paul Ryan for the veep slot didn’t really have the Tea Party — a creation borne of the GOP, whether or not they admit it — in its fold.) That’s not to say that Occupy’s message or direction aligns with the Democrats on every issue, of course: no single party owns the 99 Percent, and OWS is often called a “leaderless revolution.”. But of the major parties, which is more likely to land on the side of economic justice?
The answer was once obvious, and it needs to be again.
Would appreciate hearing from all sides on this issue in your reblogs and replies.
My first post for the Election Tumblr.
Why isn’t this viral?
In what may be the most damaging blow to Big Banks since the overwhelming success of Bank Transfer Day in late 2011, the City of Berkeley recently announced its intention to withdraw all financial assets from Wells Fargo.
On Tuesday night, the City Council voted unanimously to find a more socially-minded institution to hold approximately $300 million in city assets. Council members said that they hoped the decision would send a very strong message to the Big Banks ultimately responsible for the housing crisis that sent the economy spiraling…
As might be expected, the local Wells Fargo branch was shocked and somewhat defensive following the City Council’s announcement.
“Over the past three years, Wells Fargo has donated more than $3 million to 89 nonprofits in Berkeley… And less than two percent of homeowner-occupied loans in our servicing portfolio have proceeded to foreclosure sale,” said Wells Fargo spokesman Ruben Pulido.
While that may be true on a local level, there is no denying the dubious actions of the Wells Fargo corporation:
- Wells Fargo was a significant player in the subprime crisis. In 2006, the last year before the subprime bubble started to burst, Wells originated or co-issued $74.2 billion worth of subprime loans, making it one of the top subprime lenders in the country.
- As recently as September 2008, Wells still held $48 billion worth of subprime mortgages in its servicing portfolio, making it the nation’s sixth largest subprime servicer.
- Despite its large portfolio of at risk mortgages, Wells Fargo has started trial mortgage modifications for only 11% of its 292,515 borrowers who are eligible for the Obama Administration’s Making Home Affordable Program (and are at least 60 days past due). At Wachovia, which Wells Fargo acquired in 2008, the number is even lower, 2% of 74,231 eligible borrowers.
- Wells Fargo put taxpayers on the hook for up to $36.9 billion in bailout funds and programs plus an unknown amount from the Federal Reserve’s $8 trillion in emergency programs. This money was supposed to help the banks get the economy going again. But little of this money has gone to relieve struggling homeowners and increase the flow of credit to small businesses (bullet points sourced via SEIU).
In my opinion, the City of Berkeley is to be applauded for its decision to take bold action against the Big Banks, many of which have yet to face any significant consequences for their negligent and often illegal actions. Let the politicians form their task forces and sub committees. In the mean time, intelligent citizens like those on the Berkeley City Council will continue to take action in the most powerful manner possible: voting with their dollars.
care2, 02.02.12.
Go Berkeley!
the nice little neighborhood Wells Fargo branch that I used to go down to with my mom in the Elmwood.
Occupy Oakland x Bank Transfer Day, 05.11.11.
This is hugely awesome. And as Michael asked, why isn’t this viral?!… yet?
I saw Dorli Rainey on the bus today. She’s that elderly woman who was pepper sprayed at Occupy Seattle in November (e.g. here). She was wearing a button which read “Keep Calm and Occupy,” and smiled at me when she saw I was looking from a few seats away on the bus. It was pretty cool.
Yesterday, Occupy Oakland moved to convert a vacant building into a community center to provide education, medical, and housing services for the 99%. Police responded with tear gas, rubber bullets, beanbag rounds and mass arrests. The state has compounded its policy of callous indifference with a ruthless display of violent repression. The Occupy movement will respond, as we have always reponded: with an overwhelming show of collective resistance. Today, we take to the streets. Across the country, we will demonstrate our resolve to overcome repression and continue to build a better world grounded in love and solidarity for one another. All eyes on all Occupies.
SOLIDARITY SUNDAY, 7pm EST, Sunday, January 29. Check your local Occupation for convergence points.
Be there.
NEW YORK
Washington Square Park 7PM
Please join us in urging Barack Obama to investigate the Wall Street banks.
Wall Street banks continue to profit from the brutal housing crisis that has displaced an estimated 7 million American families from their homes. After receiving a massive taxpayer bailout, these same banks continue business as usual, with the public paying a heavy price for Wall Street’s corruption and greed. Accountability is long overdue.
One way you can help take action:
- Sign the petition from ColorOfChange
Sign ColorOfChange’s petition to push for a full investigation, compensation to homeowners, and real accountability for those responsible.
- Submit your photo.
Make or print an investigation sign, take a photo of yourself (and all of your friends) at your local bank, and submit it to our blog.
- Spread the word!
Reblog your photos once we post them and invite your friends to do the same!Still wondering why you should join us in calling on President Obama to investigate the banks? See the evidence.
Submitted by: investigatethebanks
(via mctranscendent)
America, the first step is admitting you have a problem.
_
Thoughts while doing the dishes.
Police in the UK may begin testing lasers to temporarily blind rioters. Ana Kasparian and Cenk Uygur discuss on The Young Turks.
http://www.telegraph.co.uk/news/uknews/crime/8949060/Police-to-test-laser-tha…
A few days ago I posted about a device that could temporarily inhibit breathing (here), also for use in case of riots (*cough*peaceful*protests*cough*). Well, this device, which temporarily blinds people, is a great addition to our government’s control over its citizens.
“Mother should I trust the government?”
Thankfully the mainstream media has been giving thorough and thoughtful coverage to Obama’s failure to veto the NDAA and its indefinite military detention provisions. As you can see from today’s screenshot from the home page of MSNBC. /sarcasm
Not a single mention of it.
What media blackout?
News that Time Magazines ‘Person of the Year’ award .. the person or people who had most impact on the world in 2011 .. went to ‘the Protester’ ..
