Those of you who have been taking notes on FINREG and understand even a fraction of it must think I'm nuts by the title of this piece. Because, those taking notes already know that the House version already passed by Chairman Frank's committee and passed by the Democratic Majority in the House and triumphed as more historical "reform" by House Democratic Leadership has loopholes so big on the "reform" aspect of the bill that you could drive the entire $600 Trillion derivatives market and "Too Big To Fail" right through it because that's exactly what the loopholes in the House bill does. Likewise, that's exactly what Senate Chairman Dodd's bill does. There are some reforms like the political death bed conversion of Sen. Blanch Lincoln and her Agricultural Committee with their derivatives reform bill, then you have Kaufman-Brown and Senator Dorgan on Too Big To Fail and the Sanders Amendment to audit the Fed but most of these, in particular the Sanders Amendment, are opposed by the Obama White House. We know what happens to reform items when the Obama White House doesn't support something or says they support it one day in public and then abandons it in private to appease certain Senators, Blue Dog House Democrats or union presidents but outright and fervent opposition to something that is popular with the people? I guess that depends on what you believe and how well you remember late July and June 2009 before the Teabagging Town Hall August recess as to whether or not the latter is a cleverly placed bad analogy... with purpose. If we're still waiting and hoping on "change we can believe in" am I crazy to imply that there's hope as we go down the path of yet another lobbyist-led exercise in Orwellian Newspeak and doublethink where the status quo is again protected as the people are yet again sold on the facade of "reform" on Opposite Day yet again? How is that a cause to hope?
Ladies and gentlemen, here's your hope:
The facade of FINREG "reform" will be BETTER than the health insurance monopoly expansion "reform" because it would be very politically UNPOPULAR to pass an individual mandate forcing all Americans, rich and poor alike, to buy CDOs from Goldman Sachs and the like under penalty of IRS fine as they did with the health insurance monopoly expansion's individual mandate.
*cure choir of angels*
There you go, Democrats. It's not hope, it's a punchline. The bar is barely off of the ground so go ahead and trip... (READ MORE)
This week PKRT discusses the caves, slaves and graves also known as health insurance "reform", the "jobs" bill and financial "reform", the nationwide student uprising over double-digit tuition fee hikes, the blanching of Sen. Blanch Lincoln showing her true colors on the arrival of a primary challenger, ethics-based sudden Congressional retirements galore and much, much more! This week's panelist are Myra in Manhattan, Jeanne in Phoenix, Dan at USC, Mark in Pittsburg, Ryan in Seattle and maybe a drop-in guest or two. PKRT is moderated by Kristopher Keith from Dallas. Join us on the panel or in our chat room* during the show and interact with the panel and other listeners. * Registration not required.
Tune in to the Unfiltered News Network live stream at 11pm Eastern for a fun filled evening of raw, unfiltered, unapologetic and unforgivable liberal political talk on The People's forum, PKRT.
He was thought to be the oldest man in Tokyo - but when officials went to congratulate Sogen Kato on his 111th birthday, they uncovered mummified skeletal remains lying in his bed.
Mr Kato may have been dead for 30 years according to Japanese authorities.
They grew suspicious when they went to honour Mr Kato at his address in Adachi ward, but his granddaughter told them he "doesn't want to see anybody".
The X Prize foundation, best known for launching the private spaceflight industry, has launched a $1.4 million oil clean-up challenge.
The foundation, which states that its core aim is "to bring about radical breakthroughs for the benefit of humanity" announced its latest prize at a press conference in Washington DC.
Very interesting article in Alternet this morning: Are Nations Going Extinct? Written by John Goekler, the author posits that we may be headed towards hyperlocal social governance. Goekler cites the rise of the "OG's" (Other Guys) as proof that we're moving away from our notion of nation states. OG's like Hezbollah, MS-13, the Taliban, and LaFamilia.
Today, the nation state is clearly withering. But where Marx saw this as the logical result of a workers' u ...
Hope Emerges From Hopelessness: Change You CAN Believe In Financial Regulation Reform (FINREG) v. Insurance Monopoly Expansion: How the facade of FINREG reform while still bad can't be as bad as the health insurance debacle Those of you who have been taking notes on FINREG and understand even a fr ...
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