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Eric Holder’s stunning admission

When I was a child, and before, the US government used to prosecute corporations that became monopolies because this is unfair to consumers and to other businesses. In short it is an obvious corruption of the basic tenets of capitalism, which we see with the socialization of risk in TARP and “too big to fail”.

They broke up AT&T when I was a child, and I read about the fights with Standard Oil and others that took over whole sections of the economy in the past. And then….suddenly it just became Ok for certain industries to be pretty much wholly owned and run by one or two huge corporations-Think Microsoft, or Cargill(agriculture from field to table), or the monstrous “Beatrice”(that owns Proctor and Gamble, most of the cigarrette companies and many many other huge companies).

This is the very heart of the corruption we need to eliminate in order to take our country and our planet back from these criminal cabals. Please sign and share widely-every action we take to prosecute the top criminals chips away at the power they have over all of us!

Eric Holder’s stunning admission

The most amazing thing just happened.

The Obama Administration finally admitted the truth of what we’ve been saying all along: giant Wall Street banks have become too big to prosecute. In testimony on Wed, March 6, US Attorney General Eric Holderthe nation’s top copsaid,

“I am concerned that the size of some of these institutions becomes so large that it does become difficult for us to prosecute them … I think that is a function of the fact that some of these institutions have become too large.”1

Exactly.

Tell President Obama to end the Administration’s policy of treating Wall Street banks as too big to fail and too big to jail by taking immediate steps to break up the big banks and prosecute the criminals who used them to destroy our economy.

Now we understand why the Obama Administration has failed to bring criminal charges against a single major Wall Street bank or executive for systemic fraud that brought down our economy. When the Attorney General openly admits that the most powerful members of society won’t be prosecuted for even the most egregious of crimes, we are in deep trouble as a nation.

Remember that we gave Wall Street bankers $700 billion in TARP bailouts and $2.5 trillion in investments, loans, and guarantees to shore up their business (and outrageous bonuses)2 on the theory that letting them collapse would create a generation-long Depression. In return it seems fair to demand accountability for the actions that brought us to that point. Now it turns out the Administration never had any intention of seeking accountability.

Stand up and add your voice in demanding the Administration end the policy of “too big to fail/jail”.

That’s why we’re demanding an immediate end to this unconscionable policy that puts the wishes of Wall Street 1%ers above the well-being of working families, most especially those hardest hit by the criminal actions of these very same people.

The Campaign for a Fair Settlement has pushing hard during the first hundred days of President Obama’s second term for real accountability for the Wall Street criminals who stole our homes, savings, and pensions and destroyed our economy. We think this is the only way he’ll secure his legacy as a champion of justice for the millions of homeowners, taxpayers and retirees harmed by Wall Street criminals. This revelation makes this all the more urgent.

Stand up and demand President Obama take immediate steps to break up the big banks and prosecute the criminals who used them to destroy our economy.

It’s break up time. Now or never.

In solidarity,

Brian Kettenring
Executive DirectorAction for the Common Good, and
Campaign DirectorCampaign for a Fair Settlement


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Billionaire Banker Bandit Likely to Become Next Commerce Secretary

Billionaire Banker Bandit Likely to Become Next Commerce Secretary.

A parade of media reports this week name Penny Pritzker as Obama’s prime choice for Secretary of Commerce. No longer will criminal bankers have to lobby the administration – because now they’ll have one of their own in the Cabinet.

We never heard of this guy Barack Obama until 2004. Less than three years before taking the presidency, he was in the Illinois state senate, a swamp of scammers, backhanders, and party machine tools – not a stellar launch pad for the White House. And then, one day, state Sen. Barack Obama was visited by his fairy godmother. Her name is Penny Pritzker.

Penny’s from Heaven?

Pritzger’s net worth is listed in Forbes as $1.8 billion, which is one hell of a heavy magic wand in the world of politics. Her wand would have been heavier, and her net worth higher, except that in 2001, the federal government fined her and her family $460 million for the predatory, deceitful, racist tactics and practices of Superior, the bank-and-loan-shark operation she ran on the South Side of Chicago.

Superior was the first of the deregulated go-go banks to go bust – at the time, the costliest failure ever. US taxpayers lost nearly half a billion dollars. Superior’s depositors lost millions and poor folk in Sen. Obama’s South Side district lost their homes.

Penny did not like paying $460 million. No, not one bit. What she needed was someone to give her Hope and Change. She hoped someone would change the banking regulators so she could get away with this crap.

This article is based on the New York Times bestseller: Billionaires & Ballot Bandits, by Greg Palast with comics by Ted Rall. Available for a donation to Truthout.org.

Pritzker introduced Obama, the neophyte state senator, to the Ladies Who Lunch (that’s really what they call themselves) on Chicago’s Gold Coast. Obama got lunch, gold and better – an introduction to Robert Rubin. Rubin is a former Secretary of the Treasury, former chairman of Goldman Sachs and, when Robert met Barry, co-chairman of Citibank. Even atheists recognized Rubin as the Supreme Deity of Wall Street.

Rubin opened the doors to finance industry vaults for Obama. Extraordinarily for a Democrat, Obama in 2008 raised three times as much from bankers as his Republican opponent.

So what did Citibank’s Rubin get for showering Obama with gold? Obama agreed to take care of Rubin’s poodles, Larry Summers and Tim Geithner. They became Obama’s first cabinet picks: Summers as Economics Czar and Geithner as his czarina, Secretary of the Treasury.

Geithner and Summers were the gents who, under Treasury Secretary Rubin, designed the deregulation of banking. In effect, they had decriminalized the kind of financial flim-flammery that brought the planet to its knees while bringing Rubin, Pritzker and the banksters loads of lucre.

So, in 2008, Summers and Geithner were put back in the saddle – Obama’s horse but Rubin’s saddle.

Rubin received more than $100 million from Citigroup, the gargantuan commercial bank/investment bank/casino created by deregulation. It is worth a mention that Rubin’s centi-million-dollar payoff went unchallenged by Citi’s new owner, the US Treasury, which had put up more than a trillion dollars in loans and guarantees to pull Rubin’s creature out of bankruptcy.

Rubin rocked, but Penny was pissed off.

Pritzker had taken this state senator/community organizer from the ghetto, made him a US Senator, then, as Obama’s campaign finance chairwoman, raised a mind-blowing three-quarters of a billion dollars to make him president.

In return, in 2008, Obama decided to make his patron Penny the Secretary of Commerce. But then, in November 2008, just as Obama was about to submit her nomination to Congress, a bunch of Pritzker’s victims marched on Washington. They were not from her busted bank, but unhappy workers from the lucrative nursing homes that her family owns through a string of complex offshore trusts. Obama slammed the door on Penny pronto.

In the 2012 campaign, Obama, to his credit, kept the door shut on Pritzker, reducing her to hosting an election fundraiser at her Gold Coast digs, which she had to bill as a Goldman Sachs PAC event. This marks possibly the first time anyone has used Goldman Sachs as a PR cover.

To Read the whole story-with links and cartoons please go to

Billionaire Banker Bandit Likely to Become Next Commerce Secretary.

Even tho I know this is how politics currently works I am so disappointed to read this about a President I admire.

I would like to ignore it, or discount it, but Truthout is not a source known for cheap shots, publishing unfounded or conspiracy theory based unsupported info.

The question is, will he keep playing along if there is pressure to act with integrity? Will he risk the ire of the billionaires to do what he said (and I believe firmly he meant!) that he got into office to do-which is work FOR the PEOPLE?

The only way we find out is by applying as much of that pressure as we can muster, keep praying and watch how it goes.

He did say he wanted us to watch what he does and call him on it if he does stuff that is not what he said, not what we elected him to do-and for sure helping these oligarch’s increase and maintain their power is NOT what we worked our butts off to get him elected to do!


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Jobs, Jobs, Jobs, Jobs…

Another bunch of great ideas from Fran Korten-she and her husband have already explained how to re-tool our economy and society into a world that works for everyone-without any outside intervention at all. All it takes is “People Power”.

10 Ways to Solve the Jobs Problem

 Imagine a no-holds-barred “summit” that comes up with ideas to solve both our job and environmental problems. What might it come up with?
posted Sep 02, 2010
bicycle repair

Photo by Alex Ferguson

As the midterm political season heats up, one word on every politician’s lips is “jobs.” And for good reason. People are hurting—they can’t pay their mortgages, send their kids to college, pay their dental bills. Young people are wondering if they have a place in the work world.

So the economic pundits cheer when car sales go up, housing starts rise, consumer confidence strengthens. But as the oily ooze in the Gulf tars yet another beach, we all sense something is terribly wrong. We can’t keep tearing up the planet to keep ourselves employed. There must be another way.

So—imagine a no-holds-barred “summit” that comes up with ideas to solve both our job and environmental problems. What might it come up with?
Here is my starter list. You can add your own ideas in the comments to this article on the YES! website.

 1. More farms, less agribusiness. Agribusiness substitutes chemicals and machinery for labor and employs remarkably few people. Small organic farms are far more productive per acre and bring the people back.

 2. More repair, fewer products. Instead of tossing those shoes, that toaster, that computer, let’s fix them—and employ repair people in the process.

 3. More recycling, less mining. Ray Anderson of the Interface flooring company says we already have enough nylon to meet the world’s carpet needs forever. The same may be true for aluminum, steel, copper, and other easily recyclable materials. We just need good systems for recovering them.

What if we stopped subsidizing advertising with tax breaks and focused on educating people to lead satisfying lives?

 4. More renovations, less construction. Our nation has 129 million housing units. We build new ones and let old ones deteriorate. How about renovating what we have and in-filling our cities to use existing sidewalks, gas pipes, water mains, and roads?

 5. More restoration, less destruction. Whether it’s forests, Superfund sites, or oil-laced wetlands, it’s time to restore. Some restoration can even pay for itself, as in restoration forestry where folks make products from the fire-prone, small-diameter trees normally considered too small to market.

 6. More bike paths, fewer highways. They both cost money, but one is good for our health and good for the planet. What’s not to like?

 7. More local businesses, fewer megastores. Locally owned stores employ more people per goods sold and you can often talk to a decision-maker about your purchase.

 8. More dishwashing, fewer throw-aways. What if we got rid of all the disposable containers in fast food restaurants? At my friend Ron Sher’s Crossroads Shopping Center near Seattle, the food court vendors share a common crockery supply. No trees needed. It works.

 9. More education, less advertising. Let’s face it. Advertising is about making us feel inadequate for something we don’t yet have. What if we stopped subsidizing advertising with tax breaks and focused on educating people to lead satisfying lives?

10. More clean energy, less fossil fuel. Here we do need new stuff—wind turbines, solar panels, insulation, passenger trains. Politicians are providing some—though not enough—funding for these sources of “green jobs.” It’s the other items on this list they’re not even talking about—but need to.

You may be thinking that my list isn’t realistic because these options cost more or depend on government funding. But that’s partly because governments subsidize oil, agribusiness, nuclear plants, ports, highways, advertising, and other unhealthy choices.

So the next time you hear a politician talk about jobs, try comparing the solutions offered to this list. By breaking out of the narrow range of options that keeps policy discussions stuck, we can create jobs that not only sustain families, but also build community and restore the living systems of our planet.


Fran Korten, 70pxFran Korten wrote this column for A Resilient Community, the Fall 2010 issue of YES! Magazine. Fran is publisher of YES! Magazine.

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