Daily Archives: April 26, 2016

Memo to Bill Clinton: Many young voters voted for you in both 1992 and 1996 Presidential elections

Written by Biloxi

Bill Clinton needs to go back in time to when he ran from President in 1992 and for re-election in 1996 and remember that many young voters between the ages of 18-29 voted for Clinton in his 8 years as President. Clinton, at that time, was the youngest President at the age of 46. Recently Bill Clinton, now at the age of 69, is angry at the millennials (as known as GenY) who have many have flocked to support Bernie Sanders as President and not his wife, Hillary. Bill now says millennials are the blame for the country’s problems. From The Ring of Fire website:

In a massive hit on millions of young voters all across the country, former president Bill Clinton said in a speech this week that if young voters had showed up to the midterm in 2010, nearly every political issue America is facing right now would no longer exist.

“If all the young people who claim to be disillusioned now had voted in 2010, we wouldn’t have lost the Congress, and we’d probably have our incomes back.”

The issue with voter turnout is a nationwide, demographic-wide issue, not just something that happens to young people. In fact, a great deal of people who fall under the category of millennial were not old enough to vote in 2010.

And that is true.. The millennial today weren’t old enough to vote in 2010. Bill Clinton may have forgotten that in the Presidential race in 2012 that young voters had flocked to support Ron Paul for President who was 75 years old at the time. Like Sanders, Paul too was much ignored by the media and not taken seriously in the 2012 Presidential race. So, it may be frustrating and confusing for Bill and Hillary Clinton to why the millennials favor supporting Sanders (who is older than Hillary) and not Hillary in this Presidential race. It is not the age of Sanders that are attracting the millennials to Sanders but the issues that Sanders shares in which matters to the millennials just as the issues shared by Ron Paul that mattered to the young Ron Paul supporters in Paul’s 2012 Presidential race. Here is the breakdown of the voter demographics in the 1992 Presidential election from Wikipedia:

The Presidential Vote In Social Groups (In Percentages)
% of
1992
total
vote
3-party vote
1992 1996
Social group Clinton Bush Perot Clinton Dole Perot
Total vote 43 37 19 49 41 8
Party and ideology
2 Liberal Republicans 17 54 30 44 48 9
13 Moderate Republicans 15 63 21 20 72 7
21 Conservative Republicans 5 82 13 6 88 5
4 Liberal Independents 54 17 30 58 15 18
15 Moderate Independents 43 28 30 50 30 17
7 Conservative Independents 17 53 30 19 60 19
13 Liberal Democrats 85 5 11 89 5 4
20 Moderate Democrats 76 9 15 84 10 5
6 Conservative Democrats 61 23 16 69 23 7
Gender and marital status
33 Married men 38 42 21 40 48 10
33 Married women 41 40 19 48 43 7
15 Unmarried men 48 29 22 49 35 12
20 Unmarried women 53 31 15 62 28 7
Race
83 White 39 40 20 43 46 9
10 Black 83 10 7 84 12 4
5 Hispanic 61 25 14 72 21 6
1 Asian 31 55 15 43 48 8
Religion
46 White Protestant 33 47 21 36 53 10
29 Catholic 44 35 20 53 37 9
3 Jewish 80 11 9 78 16 3
17 Born Again, religious right 23 61 15 26 65 8
Age
17 18–29 years old 43 34 22 53 34 10
33 30–44 years old 41 38 21 48 41 9
26 45–59 years old 41 40 19 48 41 9
24 60 and older 50 38 12 48 44 7
Education
6 Not a high school graduate 54 28 18 59 28 11
24 High school graduate 43 36 21 51 35 13
27 Some college education 41 37 21 48 40 10
26 College graduate 39 41 20 44 46 8
17 Post graduate education 50 36 14 52 40 5
Family income
11 Under $15,000 58 23 19 59 28 11
23 $15,000–$29,999 45 35 20 53 36 9
27 $30,000–$49,999 41 38 21 48 40 10
39 Over $50,000 39 44 17 44 48 7
18 Over $75,000 36 48 16 41 51 7
9 Over $100,000 38 54 6
Region
23 East 47 35 18 55 34 9
26 Midwest 42 37 21 48 41 10
30 South 41 43 16 46.0 45.9 7.3
20 West 43 34 23 48 40 8
Community size
10 Population over 500,000 58 28 13 68 25 6
21 Population 50,000 to 500,000 50 33 16 50 39 8
39 Suburbs 41 39 21 47 42 8
30 Rural areas, towns 39 40 20 45 44 10

Source: Voter News Service exit poll, reported in The New York Times, November 10, 1996, 28.

Of course, the question is will Sanders’ young  supporters support Hillary Clinton if Sanders is not the nominee for President. We simply don’t know. Ms. Clinton cannot assume that Sanders’ young supporters will automatically vote for Clinton if Sanders is out of the race and for the sake of the Democratic Party. And we don’t know how the independents and non-affiliate voters who were unable to vote many of the closed primaries in many states will vote in November because any candidate of their choice who are not on the main ticket in November can be write in candidate on the ballot. But, we do know this: if Clinton and Trump are the nominee of the Presidency, they both have their work cut out for them as both of them currently are unpopular candidates in this race. And good luck uniting their parties to support them come November (should Trump and Clinton are the Presidential nominees) because they both have their work cut out for them to earn the votes of the independents and non-affiliate voters since those voters don’t belong to any political party.

A full disclosure: I am a No Party Preference.

 

Wells Fargo investors approve board and pay for top executives

Business as usual for the banksters…

(Reuters) – Wells Fargo & Coshareholders approved all 15 nominees to the bank’s board and the pay for the company’s top executives in a non-binding vote at its annual general meeting on Tuesday.

Investors voted against two shareholder proposals – one that called for an independent chairman and one that required Wells Fargo to provide a report on its lobbying activities.

Wells Fargo’s board had recommended shareholders vote against the proposals.

Only 17 percent of the vote was in favor of the company requiring an independent chairman. The proposal has failed for 11 years now going back to 2006, according to Proxy Monitor.

John Stumpf is Wells Fargo’s chairman and chief executive.

Read on.

Wells Fargo to pay West Virginia $8M as part of settlement

CHARLESTON, W.Va. (AP) Wells Fargo will pay $8 million to West Virginia as part of a settlement of a decade-long dispute involving marketing practices.

Attorney General Patrick Morrisey announced Monday that Wells Fargo will pay the money to the Office of the Attorney General on the state’s behalf.

The Charleston Gazette-Mail reports that the lawsuit was filed in 2005 by former Attorney General Darrell McGraw’s office. It accused Acordia of West Virginia and its parent company, Acordia Inc., of improperly pocketing millions of dollars in secret commissions from insurers. It also alleged that the practices amounted to violations of the state’s Antitrust Act and its Consumer Credit and Protection Act.

Read on.

Coming Soon: ICIJ to Release Panama Papers Offshore Companies Data

Mark your calendars!!!

From ICIJ website:

The database will be published at https://offshoreleaks.icij.org on May 9 at 2 p.m. EDT (1800 UTC).

The International Consortium of Investigative Journalists will release on May 9 a searchable database with information on more than 200,000 offshore entities that are part of the Panama Papers investigation.

The database will likely be the largest ever release of secret offshore companies and the people behind them.

The data comes from the Panamanian law firm Mossack Fonseca, one of the top players in the offshore world, and includes information about companies, trusts, foundations and funds incorporated in 21 tax havens, from Hong Kong to Nevada in the United States. It links to people in more than 200 countries and territories. When the data is released, users will be able to search through the data and visualize the networks around thousands of offshore entities, including, when possible, Mossack Fonseca’s internal records of the company’s true owners. The interactive database will also include information about more than 100,000 additional companies that were part of the 2013 ICIJ Offshore Leaks investigation.

While the database opens up a world that has never been revealed on such a massive scale, the application will not be a “data dump” of the original documents – it will be a careful release of basic corporate information .

ICIJ won’t release personal data en masse; the database will not include records of bank accounts and financial transactions, emails and other correspondence, passports and telephone numbers. The selected and limited information is being published in the public interest.

Talking Appraisal Fraud with Bill Black

BWU/NEP’s Bill Black appears on Phil Crawford’s Voice of Appraisal. Bill discusses past problems with appraisal fraud and the AMC model. He also explains how he would like to work with appraisers in the future!! The introduction starts at about the 11 minute mark with interview starting around the 15 minute mark.

Trump and Clinton share Delaware tax ‘loophole’ address with 285,000 firms

This is a big problem for Clinton and Trump since tax havens, tax inversions, and Panama Paper scandal are major issues on voters’ minds..

The Guardian:

1209 North Orange Street in Wilmington is a nondescript two-storey building yet is home to Apple, American Airlines, Walmart and presidential candidates

There aren’t many things upon which Hillary Clinton and Donald Trump agree, especially as they court very different Delaware voters ahead of a primary on Tuesday. But the candidates for president share an affinity for the same nondescript two-storey office building in Wilmington. A building that has become famous for helping tens of thousands of companies avoid hundreds of millions of dollars in tax through the so-called “Delaware loophole”.

The receptionist at 1209 North Orange Street isn’t surprised that a journalist has turned up unannounced on a sunny weekday afternoon.

“You know I can’t speak to you,” she says. A yellow post-it note on her computer screen reads “MEDIA: Chuck Miller” with the phone number of the company’s director of corporate communications. Miller can’t answer many questions either, except to say that the company does not advise clients on their tax affairs.

The Guardian is not the first media organisation to turn up at the offices of Corporation Trust Centre, and it’s unlikely to be the last.

This squat, yellow brick office building just north of Wilmington’s rundown downtown is the registered address of more than 285,000 companies. That’s more than any other known address in the world, and 15 times more than the 18,000 registered in Ugland House, a five-storey building in the Cayman Islands that Barack Obama called “either the biggest building in the world, or the biggest tax scam on record”.

Officially, 1209 North Orange is home to Apple, American Airlines,Coca-Cola, Walmart and dozens of other companies in the Fortune 500 list of America’s biggest companies. Being registered in Delaware lets companies take advantage of strict corporate secrecy rules, business-friendly courts and the “Delaware loophole”, which can allow companies to legally shift earnings from other states to Delaware, where they are not taxed on non-physical incomes generated outside of the state.

The loophole is said to have cost other states more than $9bn in lost taxes over the past decade and led to Delaware to be described as “one of the world’s biggest havens for tax avoidance and evasion”.

But it’s not just big corporations that have chosen to make 1209 North Orange their official home.

Both the leading candidates for president – Hillary Clinton and Donald Trump – have companies registered at 1209 North Orange, and have refused to explain why.

Clinton, who has repeatedly promised that as president she will crack down on “outrageous tax havens and loopholes that super-rich people across the world are exploiting in Panama and elsewhere”, collected more than $16m in public speaking fees and book royalties in 2014 through the doors of 1209, according tothe Clintons’ tax return.

Citigroup shareholders endorse exec pay; nix breakup study

Business as usual for the banksters…

Citigroup Inc shareholders on Tuesday approved of the company’s compensation of executives and also sided with directors in rejecting a call for a special study of breaking up the big bank.

In the so-called “say-on-pay” referendum, 63.6 percent of votes were cast to approve 2015 compensation awards, according to a preliminary count announced by the company at its annual general meeting in Miami.

Proxy advisory firms Institutional Shareholder Services Inc and Glass, Lewis & Co had recommended investors vote against approving last year’s payouts to executives.

The firms had said it was wrong for CEO Mike Corbat to have received a 27 percent increase in annual compensation, which boosted his total for 2015 to $16.5 million, even though the bank’s shareholder returns have lagged competitors.

Read on.