Tag Archives: Wall Street

Hey, Hillary … take a look at what these guys are saying

BudgetDeficit

Hillary Rodham Clinton may be the inevitable Democratic Party presidential nominee.

It’s not a done deal just yet, given Sen. Bernie Sanders’s big wins this weekend in Washington, Alaska and Hawaii. Clinton, though, still has the big lead in delegates and the primary campaign is heading into more Clinton-friendly territory.

But here’s the thing, according to Bill Moyers (yes, that Bill Moyers) and Michael Winship: She remains captive to the big-money interests that are poisoning the political system. It’s time for Clinton to stand up, spit into her palms and then do what she needs to do, they say, which is call for the immediate resignation of Chicago Mayor Rahm Emmanuel and Democratic National Committee Chairwoman Debbie Wasserman Schultz.

They ask a valid question: Is she the candidate of the past or of the future?

If it’s the latter, then she needs to demonstrate it. Forcefully.

These two figures — Emmanuel and Schultz — represent what’s wrong with the Democratic Party, say Moyers and Winship.

Emmanuel’s tenure as mayor has been rocked by controversy. The shooting death of an African-American teenager, Laquan McDonald, went unreported for months. Laquan was shot to death by Chicago police while he was strolling down the street. He presented no weapon; his hands were in the air. A cop shot him multiple times dead in the street.

Emmanuel then took responsibility for the shooting, given that he’s the mayor and the chief of police answers to him.

But before he became mayor he was a three-term Illinois congressman and White House chief of staff for President Obama. He is soaked in corporate money. Emmanuel, Moyers and Winship write, “chaired the fundraising Democratic Congressional Campaign Committee (calling on his Wall Street sources to get in on the gravy by electing so-called New Democrats over New Deal Democrats), and soon was back in the White House as Obama’s chief of staff. There, he infamously told a strategy meeting of liberal groups and administration types that the liberals were ‘retarded’ for planning to run attack ads against conservative Democrats resisting Obamacare. Classy.”

He’s a longtime ally of Hillary and Bill Clinton, which is why he continues to loom so large on the Democratic Party landscape.

Schultz is just as tainted by money, say Moyers and Winship, who write that “she embodies the tactics that have eroded the ability of Democrats to once again be the party of the working class. As Democratic National Committee chair she has opened the floodgates for Big Money, brought lobbyists into the inner circle and oiled all the moving parts of the revolving door that twirls between government service and cushy jobs in the world of corporate influence.”

Of the two essayists, Moyers — of course — is the better known. He’s an East Texan who came to prominence during the Lyndon Johnson administration, where he served his fellow Texan as White House press secretary. He then went on to become a fixture on public television.

The Sanders campaign has lit a fire all by itself with the candidate’s call for reform of the political financing system. His sole aim is to finance presidential campaigns solely with public funds, while seeking to overturn the Citizens United Supreme Court ruling that unleashes corporate donors.

Moyers and Winship make the case fairly persuasively that Hillary Clinton is too wedded to the deep-pocketed donor class that they say has corrupted the political system.

She well might want to consider seriously what these men are suggesting, which is to cut her ties to the past and demonstrate that she’s the Democratic Party’s best hope for the future.

 

Still waiting for answers from Bernie

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Some of us might recall a quip made famous by former Vice President Walter Mondale as he competed for the Democratic presidential nomination in 1984.

His chief foe that year was U.S. Sen. Gary Hart of Colorado. The two of them squared off in a debate and Mondale turned to Hart and asked him: Where’s the beef?

The question has become something of a punch line.

I think it’s fair ask another challenger for the Democratic nomination essentially the same question. It ought to go to Sen. Bernie Sanders of Vermont.

Where is the beef, Bernie? Where are your constructive solutions to what you say ails the country?

I’m not hearing them.

Sanders captured two Democratic caucuses today, in Washington and Alaska. The frontrunner for the party’s nomination remains Hillary Clinton.

I listened last night to quite a bit of Sanders’s rally in Seattle. He stood at a lecturn in the middle of Safeco Field and kept saying what he’s been saying all along.

The campaign system is corrupt and he wants to bring public financing to presidential elections; the top 1 percent are getting richer while the rest of America is suffering; he wants to provide free college education for every student in America; he says every American is entitled to “universal health care.”

OK. Fair enough. I get the message.

The question: How are you going to make any — let alone all of it — a reality?

It occurred to me this afternoon while visiting with a friend: Sanders sounds a little like Donald J. Trump. Yes, he’s tapping into voters’ anxiety, anger, fear and frustration, just like Trump.

The difference, though, lies in the tone and tenor of his remarks … not to mention the tone and tenor of his response to criticism.

As I listen to Sanders, though, I keep hearing the same refrain.

Wall Street is bad. The political system is corrupt. Wages are unequal.

What is the candidate going to do — precisely, I must ask — to fix it?

Where, Sen. Sanders, is the beef?

 

Christie attacks Obama … on economy? Wow!

new-jersey-governor-chris-christie

Chris Christie needs to read more.

The New Jersey governor, and a probable Republican candidate for president next year, thinks the economy has tanked under President Obama’s administration.

Interesting.

http://wegoted.com/2015/05/chrsitie-goes-after-president-obamas-economic-policies/

The stock market is at record highs. Unemployment is at its lowest level in about a decade. Jobs are being created at a rate not seen since the Clinton administration, when everyone — even Republicans — say the economy was booming. The banking and auto industries have recovered. Automakers have paid back the funds they borrowed when the government bailed it out shortly after Barack Obama took office as president.

“This president is failing because he cares more about redistributing wealth than he cares about creating and growing new wealth in our economy,” Christie said on a radio talk show.

Here’s a flash: The president may be criticized for a lot of things, but the economy is in full recovery mode. Even the New Jersey governor ought to understand that.

Has the president done everything he said he’d do? No. We haven’t stabilized Middle East politics. We haven’t brought a world of peace and plenty to places that have neither. It can be argued that the war on terror hasn’t progressed as the president promised it would when he took office.

The nation’s economy — while it isn’t perfect — is in far better shape than when the 44th president moved into the White House.

Then again, when has the economy ever been in perfect condition?

It's still the economy, stupid

On the eve of the new year, let’s take a quick look at how the economy “tanked” during 2014.

What? Oh, you mean it didn’t? Darn! I must have forgotten about that recent Department of Commerce report that showed the Gross Domestic Product grew at an annual rate of 5 percent for the latest quarter.

OK, I guess that means that the Obama economic policies, those frightening elements that would send the U.S. economy into a tailspin just didn’t do what Republican doomsayers said they would.

http://www.washingtonpost.com/opinions/eugene-robinson-economic-facts-get-in-the-way/2014/12/29/c82d7686-8f9c-11e4-a900-9960214d4cd7_story.html

As the columnist Eugene Robinson wonders in the Washington Post, what in the world are GOP presidential candidates going to campaign on in 2016?

Those darn monthly jobs numbers keep piling up at a rate of a couple hundred thousand jobs a month. Oh, the deficit? It’s down … by about half of what it was annually when Barack Obama took office.

Gasoline prices? They’re down too. Now, the president isn’t able to take credit for the rapid decline in fuel prices, but he sure got the blame from the GOP presidential field in 2012 when they were increasing. Do you remember?

And yes, Wall Street seems happy. The Dow Jones Industrial Index is at 18,000, up more than double where it was in January 2009, when that “socialist” Obama took office. As Robinson noted in his column: “This is terrific for Wall Street and the 1 percenters, but it also fattens the pension funds and retirement accounts of the middle class.”

Uh, hello? Count me as one of those “middle class” Americans who’s happy with the status of his retirement account.

“For years, a central tenet of the Republican argument has been that on economic issues, Obama is either incompetent or a socialist,” Robinson writes. “It should have been clear from the beginning that he is neither, given that he rescued an economy on the brink of tipping into depression — and in a way that was friendly to Wall Street’s interests. But the GOP rarely lets the facts get in the way of a good story, so attacks on Obama’s economic stewardship have persisted.

And they’ll really get cranked up right along with the 2016 campaign.