Daily Archives: July 16, 2016

Jill Stein Pledges to Grant Edward Snowden a Full Pardon and Appoint Him to Her Cabinet

Edward Snowden, America’s #1 fugitive, would not only get a full pardon under a Jill Stein administration, but would get a promotion to one of the highest levels of government.

“[Snowden] has done an incredible service to our country at great cost to himself for having to live away from his family, his friends, his job, his network, to basically live as an expatriate,” Stein said during a livestreamed town hall with supporters on her Facebook page.

“I would say not only bring Snowden back, but bring him into my administration as a member of the Cabinet, because we need people who are part of our national security administration who are really, very patriotic,” Stein continued. “If we’re really going to protect American security, we also have to protect our Constitutional rights, and that includes our right to privacy.”

Read on.

Jill Stein is on the ballot in 23 states so far according to her website:

Map-07-07-2016.png

And Stein is trying to get on the ballot in Vermont. She was in Vermont Friday campaigning on Sanders’ turf. The state of Vermont has been a blue state for quite some time. It will be tough for Trump to flip the state to red since alot of Vermonters don’t like Trump’s rhetorics. But the real question is can Stein gather those Sanders supporters that dislike Clinton now that Sanders endorsed Hillary Clinton? Remember Stein is currently not on Vermont ballot but Libertarian Presidential candidate Gary Johnson is on Vermont ballot. Will any Sanders supporter jump on the Johnson train? So, the state of Vermont is up for grabs for votes for all political parties. The big question is who will win the state of Vermont. The interesting thing is in Vermont that the Vermont voters have the freedom to not vote Democrat. Their choice of parties other than Democrats are Progressive, Republican, Libertarian, and Liberty Union. Sen. Sanders was part of member of the Liberty Union Party, which originated in the anti-war movement and the People’s Party before the year 1979 according to Wikipedia. Of course, he left the Liberty Union Party. A fun fact that from Wikipedia:

The Vermont Progressive Party originated with the independent campaign of Bernie Sanders for mayor of Burlington(previous to being elected mayor Sanders was a leader in the VT Liberty Union Party). Sanders, who was later elected to the United States House of Representatives,[1] and subsequently to the United States Senate,[2] never officially associated himself with the Progressive Party, although the Progressives were among his biggest supporters. Of course, Sanders ran Independent for Mayor as well as for Congress and Senate. Sanders running Independent is not the same as being part of American Independent Party. For example, here is the voting results of Sanders running as an Independent in the mayoral race. And here is the definition of Independent:

Individuals who run for and serve in office as “Independent” are not affiliated with any political party, either by personal preference or due to not being nominated by the party of their choice. It is similar to the “Nonpartisan” label which is normally used during elections in which political parties play no role.

Like I said, this Presidential race will be ugly, expensive, and competitive.And the third party candidates Jill Stein and Gary Johnson are going to fight for every vote and deny this Presidential race to be determined as a two party race between Hillary Clinton and Donald Trump. It is up to the voters to decide who is the candidate with the best platform of issues that they feel can lead this country after Obama leaves.

What does Green Party Presidential candidate Jill Stein think of Trump-Pence GOP ticket?

 Here are the Third Party National Conventions:

The Libertarian National Convention was held at the Rosen Centre Hotel & Resort in Orlando, Florida, May 26-30 while the Green Party National Convention is slated for Aug. 4-7 in Houston, Texas. Click here to read more on the Green Party National Convention. Dr. Cornel West who now endorsed Jill Stein, is scheduled to speak at the Green Party Convention.

A Travesty of Financial History – which bank lobbyists will applaud

Review of William Goetzmann, Money Changes Everything:
How Finance Made Civilization Possible (Princeton University Press, 2016)

By Michael Hudson

Debt mounts up faster than the means to pay. Yet there is widespread lack of awareness regarding what this debt dynamic implies. From Mesopotamia in the third millennium BC to the modern world, the way in which society has dealt with the buildup of debt has been the main force transforming political relations.

Financial textbook writers tell happy-face fables that depict loans only as being productive and helping debtors, not as threatening social stability. Government intervention to promote economic growth and solvency by writing down debts and protecting debtors at creditors’ expense is accused of causing an economic crisis (defined as bankers and bondholders not making as much money as they thought they would). Creditor lobbyists are not eager to save indebted consumers, businesses and governments from bankruptcy and foreclosure. The result is a biased body of analysis, which some extremists project back throughout history.

Continue reading

Trump VP pick Mike Pence’s pay-to-play problem

Pence is still a sitting governor!

Law Newz:

When Republican presidential candidate Donald Trump chose Indiana Gov. Mike Pence as his running mate, he dealt a potentially serious blow to his fundraising prospects, lawyers are saying.

Pence is a sitting governor. That means contributions to the ticket will be limited by the SEC’s 2010 pay to play rule, also known as Rule 206(4)-5 of the Investment Advisers Act of 1940, as amended. The rule prevents “SEC registered investment advisers” from contributing more than $250-$350 to state or local officials who could select the firm that would manage a state or local pension fund, or some part of it.

That means most hedge funds and private equity firms — their PACs, their executives, their fund managers and probably their investor relations staff — can’t give to the ticket. If they violate the rule, they face a two-year ban on managing Indiana’s pension money — or at least, on collecting management fees and a percentage of the profits they earn for the funds, which certainly takes all the fun out of it for firms.

The Indiana Public Retirement System had about $29.9 billion in assets under management at the end of 2015.

That was a big problem for Wisconsin Gov. Scott Walker‘s presidential fundraising, and for New Jersey Gov. Chris Christie‘s, and it will be for Trump’s too.

“It will cause most of the major players on Wall Street and financial service firms to not contribute and will even prohibit soliciting funds for the campaign,” said Kenneth Gross, a partner at Skadden Arps and expert on campaign finance. “The implications to any such covered donor could be draconian.”

Fed’s Focus on “Too-Big-to-Fail” Won’t Save Taxpayers From the Next Bank Bailout

Last month, the Federal Reserve announced that 31 out of 33 U.S. banks had passed its latest “stress test,” designed to ensure that the largest financial institutions have enough capital to withstand a severe economic shock.

Passing the test amounts to being given a clean bill of health by the Fed. So are taxpayers — who were on the hook for the initial US$700 billion TARP bill to bail out the banks in 2008 — now safe?

Yes, but only until the next crisis.

Skeptics of these tests (myself included) argue that passing them will not prevent any bank (large or small) from failing, in part because they’re not stressful enough and the proposed capital requirements are not high enough.

But beyond this, the stress tests highlight a significant shortcoming in how regulators hope to prevent the next wave of bank failures: They’re focusing way too much on size, particularly with the designation of so-called systemically important, “too-big-to-fail” banks.

U.S. lawmakers in search of a solution are currently working on legislation that would make it easier for too-big-to-fail banks to actually fail through bankruptcy. While doing so would be a good thing, it still raises important questions.

Are policymakers right to focus on size in determining whether a bank poses a major risk to the financial system and taxpayers? Would splitting larger banks into smaller ones free taxpayers from the repeated burden of rescuing them during times of crisis? Does calling a bank “too big to fail” even mean anything?

To me, this focus on size and “too big to fail” seems misplaced. I’m among those who advocate replacing our current system with something known as “narrow banking,” which would totally separate deposits from riskier lending activities. This would have the best chance of protecting taxpayers from having to foot the bill for future bailouts, as I’ll explain below.

Read on.

 

Refund America Project report: Nearly half of the debt owed by Puerto Rico is not actually money that the island borrowed, but instead interest owed on bonds underwritten by Wall Street firms

Series of banks were lead underwriters on the bonds, including Citigroup, Merrill Lynch—now under Bank of America—Goldman Sachs, UBS, Banco Santander.

Refund Project website:

A fact sheet on Puerto Rico’s capital appreciation bonds (CABs). Haga clic aquí para una versión en español de este informe.

 

27 year old Essex native to lead Bernie Sanders’ political organization

shannon jackson

As you may or may not know, Bernie Sanders will launch three organizations to spread his progressive message. Now, Sanders has chosen a person in Vermont who direct new organization “Political Revolution.”

Burlington Free Press:

WASHINGTON — Shannon Jackson was an intern in Bernie Sanders’ office when he first volunteered to pick up the senator at the airport.

For the rest of that summer in 2009, Jackson was the Vermont senator’s driver. Now, the 27-year-old from Essex, who has worked full-time for Sanders since 2012, is getting a promotion. He’ll direct a new organization focused on keeping Sanders’ “political revolution” going.

That organization, called Our Revolution, will help recruit, train and fund progressive candidates’ campaigns. Board members of Our Revolution and the education-focused Sanders Institute will include some “old hands.” But they’ll be led by several people under 30 who played integral roles on Sanders’ campaign for the Democratic presidential nomination, said Jane Sanders, the senator’s wife and adviser who will oversee the groups.

“The campaign really captured the imagination of young people,” she said. “They (the staffers) were a big part of it. How could they not be part of planning for the future?