MikeK
Gold Member
(Excerpt)
The Occupy Wall Street movement should spend today doing a nice little victory lap, because it seemed for all the world like its members were ghost-writers on President Obama's State of the Union speechwriting staff. Though he never directly mentioned the movement itself, Mr. Obama spent a great deal of time on Tuesday night underscoring many of Occupy's most central themes: income inequality, tax fairness, and the need to rein in the illegal and immoral behavior of the nation's largest financial institutions.
Talk is cheap, of course; despite all of Mr. Obama's high-flown rhetoric, his administration is reportedly prepared to cut a disgracefully easy deal with the five banks most directly responsible for the financial meltdown, giving his so-pretty words a hollow ring:
Five banks - Bank of America, JPMorgan Chase, Wells Fargo, Citibank and Ally Financial (formerly GMAC) -would pay the federal government $25 billion. About $17 billion would be used to reduce the principal that some struggling homeowners owe, $5 billion more would be used for future federal and state programs and $3 billion would be used to help homeowners refinance at 5.25 percent. Civil immunity would be granted to the banks for any role in foreclosure fraud, and there would be no investigations.
(Close)
Staring at Empty Pages | Truthout
How do you like that? No Investigations of one of the most egregious larcenies of the century. And the brainwashed right-wing lackeys like to talk about how the One Percenters "work" for their money.
The Occupy Wall Street movement should spend today doing a nice little victory lap, because it seemed for all the world like its members were ghost-writers on President Obama's State of the Union speechwriting staff. Though he never directly mentioned the movement itself, Mr. Obama spent a great deal of time on Tuesday night underscoring many of Occupy's most central themes: income inequality, tax fairness, and the need to rein in the illegal and immoral behavior of the nation's largest financial institutions.
Talk is cheap, of course; despite all of Mr. Obama's high-flown rhetoric, his administration is reportedly prepared to cut a disgracefully easy deal with the five banks most directly responsible for the financial meltdown, giving his so-pretty words a hollow ring:
Five banks - Bank of America, JPMorgan Chase, Wells Fargo, Citibank and Ally Financial (formerly GMAC) -would pay the federal government $25 billion. About $17 billion would be used to reduce the principal that some struggling homeowners owe, $5 billion more would be used for future federal and state programs and $3 billion would be used to help homeowners refinance at 5.25 percent. Civil immunity would be granted to the banks for any role in foreclosure fraud, and there would be no investigations.
(Close)
Staring at Empty Pages | Truthout
How do you like that? No Investigations of one of the most egregious larcenies of the century. And the brainwashed right-wing lackeys like to talk about how the One Percenters "work" for their money.
