Compromised Fed Captured by Bankers

When Mother Jones and the Wall Street Journal come to the same conclusion regarding Wall Street's control over the Federal Government, there's a truth unveiled that goes beyond partisan politics. Yet real reform is far from being instituted. Mother Jones' Kevin Drum and David Corn discuss with Bill Moyers the intellectual as well as regulatory capture that the banking industry has over the complex issues which control our economy in this fiery podcast.

Moyers, who has maintained a calm interview style in the past, has come out punching in his last few shows. He will be retiring his show in March and it will be fascinating to see where he next moves. His strongest passion has been for campaign finance reform as envisioned by FairVote.org.


Excerpt from Jan. 8, 2010 show:

MOTHER JONES political blogger Kevin Drum explained the phenomenon using a term used by economist Simon Johnson:

It goes beyond regulatory capture, where, say the banks control the S.E.C. That's one thing. "Intellectual capture" means that essentially the financial industry has convinced us — you know, in the '50s what was good for General Motors was good for America — now it's what's good for Wall Street is good for America. And they've somehow convinced us that we shouldn't ask about what's right or what works or what's good for America. We should ask what's productive, what's efficient, what helps grow the economy.

It is this "intellectual capture" that prevents a reform movement from taking hold. David Corn, Washington bureau chief for MOTHER JONES, explains:

While [people are] angry at Wall Street, particularly on the corporate compensation front — which is very easy to get angry about — they also are fearful of taking Wall Street on, because they've been taught that if the Dow falls, if you take on the big banks, it's going to be bad for all of us. So, it really is this "Stockholm Syndrome," where we're forced to identify with people who are holding us hostage without our interest in mind.

Durbin Asserts Campaign Finance Reform the Cure for What Ails D.C.

A recent report from the Center for Public Integrity shows that the 25 largest originators of subprime mortgages also spent more than $370 million over the last ten years lobbying the legislators in Washington to ease up on regulation that would have restrained the risky investment behavior that has resulted in the meltdown. And now, at least 21 of the 25 ventures are backed or owned by banks now receiving bailout money.

Bill Moyers talks with Senator Dick Durbin who describes the influence of lobbyists on Washington in this video. Earlier this year, Durbin authored a bill in which it would become easier for people facing foreclosure to renegotiate their loans. After 12 Democrats crossed the aisle to vote against it earlier this month, the amendment to the bill failed. Durbin, himself a beneficiary of those mighty lobbying dollars, has since come out swinging.

On a local radio station, Durbin said:

The banks -- hard to believe in a time when we're facing a banking crisis that many of the banks created -- are still the most powerful lobby on Capitol Hill. And they frankly own the place.

Durbin also recently introduced a bi-partisan bill with Senator Arlen Specter to create a voluntary public financing system for members of both chambers of Congress. As he tells Bill Moyers on the JOURNAL: "I think that is a good move for our democracy, and it's one which we ought to acknowledge is at the heart of many of the issues we face."

Modeled after successful fair election bills of several states including Connecticut, Maine, Arizona, and North Carolina, the Fair Elections Now Act seeks to diminish corporate influence removing the need to go "dialing for dollars".

Senators Durbin and Spector introduce Fair Elections Now Act on March 3, 2009
in this video

transcript of Moyers-Durbin show

West Virginia Mountain Party Gubernatorial Candidate Shakes Up Two Party System

Special by Babette Hogan

updated version

The West Virginia Gubernatorial race is heating up - and it's coal powered.

Jesse Johnson, the West Virginia Mountain Party's candidate for Governor, matches up against the incumbent (d) Joe Manchin and (R)Senator Russ Weeks in this Public Broadcasting Debate.

Johnson is the only gubernatorial candidate of the three who is against the coal mining practice of Mountain Top Removal (MTR) and espouses a citizens' extraction dividend, universal health care and free education, amongst other policies deemed unfriendly to big business. He was denied entry to the West Virginia Broadcast Assn., the first and most widely broadcast statewide debate, which pre-empted programming on three network channels. The WVBA defended their choice to exclude the third party candiate on the grounds that the Republican and Democrat were having a "private news event". Published polls fail to indicate that the ballot qualified third party is even in the race, despite an overwhelming number of people being against MTR, according to a recent poll cited in the Charleston Gazette.

A discerning listener may notice that Johnson has to wait a rather long spell to be invited into the conversation between Governor Manchin, who is widely perceived as a "Dixiecrat" with several scandals floating around him, and pro-unborn life Weeks, who is willing to face up to Manchin, yet remains skeptical of progressive ideals. (Weeks likens Mountain Top Removal to an " act of Mother Nature", satisfied that eventually good things will come of MTR, like golf courses, shopping malls and developed communities.)

The first question asked of Johnson has nothing to do with policy, but reads, instead, like a third grade test of state emblems.

The host attempts a gotcha moment. "Could you name three people who you would appoint to Cabinet if you were actually to be elected Governor and why you would pick those people." Johnson's response, "I believe I probably could name three people, but if I'm not mistaken, you're not supposed to be making those decision prior to the election and it's against protocol and against the law in West Virginia."

"Let me take another tack on that. Can you name three of the state cabinet posts?" Now, the video of this "debate" is not posted, only the audio, but if you could have seen it, as I had, you would have noticed how remarkably calm and polite Johnson remained in the face of his intelligence being insulted. Curtly after, the host reengages Weeks and Manchin in a policy question.

I was in the press conference room and the two local stations reporters mouths dropped with astonishishment when they heard the obvious bias of the reporter. However, this may not be entirely the host's own prejudice. Manchin, as the self-appointed head of Public Broadcasting in West Virginia, does have some control.

Earlier in the day, while walking to a local breakfast diner past a park smattered with homeless people, I happened upon a church where a town car sat, a state trooper pacing outside. It was Sunday and service had started. I waited until the service and feast ended for the appearance of what I suspected would be Governor Manchin. Indeed, he did appear and when I approached him he set his face in a practiced friendly public performance smile. I asked him as he walked firmly to his polished coal black car, "Governor, what do you think about the recent report of vote switching in the early voting booths." He marched sternly on with a grimacing smile, "You should go inside (the Church) and try some baklava."

While I admit that addressing someone about politics after they have come out of Church might appear disrespectful, it wasn't his church; he was just polticking. So, I ask again Governor, "Those machines that you bought when you were Secretary of State, doesn't it concern you that they are apparently switching the vote?"

We had a chance to interview Manchin and Weeks after the debate, but both candidates refused. Manchin then cornered Johnson in one side of the room, keeping his back to us enforcing his view that MTR was essential. Weeks, wearing the soft silver new-born feet pin of a pro-lifer/anti-choicer, refused because of his concern that "environmentalists" misrepresent him.

McKinney Campaigns Through California

Cynthia McKinney Visits Fairfax, CA for Green Party Gathering from Polidoc on Vimeo.
Green Party Presidential Candidate, Cynthia McKinney, wrapped up a week of campaigning in California with a Bay Area visit over the weekend. She met with Bay Area Greens in bucolic Fairfax. The hosts, Larry Bragman and Lew Tremaine, mayor and city council member of Fairfax as well as , were proud to be hosting the town's first Presidential candidate visit. It was a gorgeous day and McKinney supporters had come from all over the Bay Area to hear their candidate speak.

McKinney attended several events while in California, including a co-hosted evening with comedienne Roseanne Barr attended by Greens, 911 Truthers and hip-hop activists.

McKinney has grown as a Green, an identity that she wears with greater and greater certainty. Coy and cautious with the press, she had allowed us to interview her at a Green Party retreat more than a year and a half ago at which time, she was "just getting to know the Greens" from outside of Georgia. Now, having traveled all over the country (though not yet to every state), McKinney has noted the differences. She has also educated herself on the history of the United States Green Party, a somewhat complicated tale that exposes the difficulty of raising a third party in a winner-take-all system.

Green Party Convention Offers Opportunity to Assess Tactics

The Greens were hoisted into a fast growth plan in 2000 which they were not prepared to maintain after the election. That said, there has been remarkable organizational development in some states, Illinois, NY and Maine, chief amongst them; but these have grown out of local or state campaigns, not the Presidential.

I had a chance to film David Sirota the other week and in his new book,”the Uprising” he contends that progressive parties need to be looking to fusion as a way of building a third party – that historically, it’s impossible to simply create a party at the national level. He also suggests that we focus on economic issues as a fundamental link between diverse communities.

Fusion is a tough tact for Greens to take. Many of them wanted to have a “Green” candidate represent them in this election so that the party can stand out. However, the reality of the young organization and its fundraising mechanics is that they might still need to consider such choices because no rich, articulate and electorally ready angel that is a true green has adopted the Green Party and said, “I’ll run for President.”

At last year's convention, there were a couple of Libertarians seeking the Green Party endorsement who promised that their fat coffers would carry them to the Presidency. One had even offered to fund our documentary - if we gave him control of it (LOL) ! Since then, their candidacies have shriveled on the Libertarian vine.

And if you doubt that a single rich person couldn't organize and finance a national campaign, look at the well-backed Unity ‘08 effort. It smoldered away in 2007, despite money, media attention and organization. Even that coordination of ideas was too complicated a story for a soundbite addicted media to tell. Why write a thesis when the supermarket romance novella sells just as well.

The Green Party Convention begins in just two weeks. All of the Green Candidates will be feeding back lessons learned from this, the party’s second primary (first one in 2004 which was its own slice of party history). Don’t be mistaken, these candidates, will be looking at their own political futures with a new awareness of the demands of campaigning and the ability to raise funds. Some may return in 2012. Some might be much too busy/effective in their local and state politics to run a national campaign. I, for one hope the latter is the case because they are each wonderful humans with a passion for grassroots politics and we need people like that in our local and state offices NOW fighting for sustainable causes.

Whomever your candidate in this next election is, don't hand her a Green towel - give her a real flag - with your insignia - to carry.

California Clean Money Campaign Coordinates in Support of AB 583 Vote on Wednesday

Clean Money supporters are coming to Sacramento from all over the state, including some driving up all the way from Southern California. You can help us fill up the room completely -- sending a strong message to the committee and to Senate leaders how people are demanding that we make a major change in the way election campaigns are financed.

Hearing Time: Starting 9:30am on Wed, June 18
Hearing Room: Room 3191 of the State Capitol Building
(There's a parking structure on 10th street just north of L St across from the Capitol. Bring something to read because other bills may be voted on first.)

Everybody who attends will have an opportunity to line up and say who you are and that you urge them to vote "Yes" on AB 583 and another important bill, AB 2552, which will make it harder for special interests to hide behind deceptive names when they attack candidates (details at http://www.caclean.org/problem/ccc_2008-06-16.php).

We'll be meeting at 9:15am outside the hearing room to give out Clean Money "Sweeping Reform" buttons and tell everybody how they'll be able to make their statement. If you're a member of an organization (like a Democratic or Republican club or anything else) that has endorsed Clean Money, it will help to say that they endorsed, also.

If you can stay afterwards, please join us in lobbying other state senators to support the bill, as we divide up in groups all with at least one experienced Clean Money speaker to speak to Senators or their staff about why they should support Clean Money.

Please join us if you can, and forward this to anybody who you think might be able to attend! Watching the electoral process in person is fascinating, and by packing the halls, you can have a major effect on helping Clean Money move forward!

Thank you for your support of Clean Money!
For more information:
www.CAclean.org

Democracy Now Interviews David Sirota on Populist Revolt

David Sirota, political journalist and nationally syndicated columnist, is interviewed here with Democracy NOW.

In his second book, "The Uprising"Sirota describes his experiences over the course of a year in which he traveled around the country to explore populist movements nationally and the implications of these widepsread actions.

Sirota is traveling on a national book tour and may be coming to your hood soon.

"Unprecedented" Shift in Democratic Party Fund Raising

Howard Dean, retained by Democratic nominee Barack Obama as the DNC head, has layed some "Byaah" magic over Democrats with a "quick" note to announce a dramatic shift in campaign fundraising policy.

"The Democratic Party has to be the Party of ordinary Americans, not Washington lobbyists and special interests. So, as of this morning, if you're a federal lobbyist, or if you control political action committee donations, we won't be accepting your contribution," wrote Dean.

He goes on to declare that this is an "unprecendented move for a politcal party to make." And kudos to Dean, Obama and the DNC for addressing this issue so soon after the primary; however, to be fair, both Ralph Nader and the Green Party have preceeded the Democrats in closing this trap door to corporate influence.

A clean money election is a reason to scream. Though dated, this piece of video reminds us of the populist strength Dean has carried in the past. Let me hear it loud and clear Howard:

Presidential Primary Campaign Ads 2008

All the ads, collected in one place. Remarkable, frankly, but a "must bookmark" for the poligeeks on your card list, so forward them the link. Get the straight scoop on who did and/or didn't have their poop straight when they flung it!

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