Protesters On Hunger Strike For 17 Days Ask Education Department To Help
Two Chicago protesters who have been fasting for 17 days over the future of a local high school traveled to Washington...
Two Chicago protesters who have been fasting for 17 days over the future of a local high school traveled to Washington D.C. this week to take their fight to the national stage.
The protesters, joined by civil rights leaders and the presidents of the nation's two largest teachers unions, held a press conference on Wednesday and delivered a letter to Secretary of Education Arne Duncan, asking him to take action so city officials will make a decision about Chicago's Dyett High School, which closed in June due to low enrollment rates and test scores.
Twelve protesters have been participating in a hunger strike since Aug. 17 in an attempt to convince the Chicago Board of Education to reopen the school as an open-enrollment public school with a focus on science, which they say will best serve the needs of the community. The board is weighing various plans to reopen the school, but protesters say this process has been slow and inconsistent, and worry that the board will ultimately allow the school to remain closed.
Since the start of the hunger strike, four protesters have had to receive medical attention, according to the Chicago Sun-Times. Last week, a group of medical professionals asked Chicago Mayor Rahm Emanuel to intervene, calling the situation "a health emergency."
Only two of the protesters made the trip to Washington. The letter they delivered to Duncan on Wednesday asks him to "act swiftly to avert the further harm." An excerpt from the letter states:
"One of the challenges facing African American parents and students in Chicago is the lack of response and accountability from elected and appointed officials. Affluent neighborhoods receive selective enrollment and well-resourced schools. However, communities comprised of predominantly low-income and working families have to contend with under-resourced schools and privatization models that undermine the integrity of the community. We compel you to act on behalf of the residents of Bronzeville who have been rendered voiceless in this process."
At Wednesday's press conference, protesters Jitu Brown and April Stogner were joined by American Federation of Teachers President Randi Weingarten, National Education Association President Lily Eskelsen García, Advancement Project Co-Director Judith Browne Dianis, Schott Foundation President John Jackson, Coalition for Community Schools Director Martin Blank, and members of the Alliance for Educational Justice and the Center for Popular Democracy.
"Sometimes you have to put your own health on the line to get the attention of the world," said García.
The protesters want the Board of Education to choose their proposal for the school's future, which would reopen the school as the Dyett Global Leadership and Green Technology High School.
"We’re going to do whatever is necessary to keep this school and have an open enrollment school in our community,” said Stogner, a protester who has three grandchildren. “I’m hungry. But I’m not really hungry for food -- I’m hungry for justice. I’m hungry for justice for my grandbabies, for all the kids in my community."
“We live in a city where we are not valued as black and brown people,” she added.
Earlier this week, protesters met with Emanuel and officials from Chicago Public Schools to discuss the strike, but the meeting did not lead to any resolution.
"The mayor appreciates there are strong feelings about Dyett, and he understands there is a desire for a quick resolution about its future, however what's most important is the right decision," said a statement from the mayor's office. "CPS is engaged in a thorough review of Dyett, and while they are closer to a decision, they continue to weigh all the factors at play in an effort to achieve the best outcome possible -- one that will ensure a strong Bronzeville and a strong future for our children."
A spokesperson for Duncan said Department of Education leaders plan to meet with the protesters to hear their concerns.
“We respect the efforts of this group and worked to accommodate their plans to hold a press conference outside our building," said Department of Education press secretary Dorie Nolt in a statement. "Senior leaders at the Department will meet with representatives of the group today to hear more about their concerns. While this is squarely a local issue, we always welcome the opportunity to engage with concerned students, parents, educators and community members.”
Source: Huffington Post
The White House announced that it would nominate Randy Quarles to a vacant seat on the Federal Reserve’s Board of Governors
The White House announced that it would nominate Randy Quarles to a vacant seat on the Federal Reserve’s Board of Governors
Quarles would take the lead on rolling back any banking regulation under the Trump administration as vice chairman for...
Quarles would take the lead on rolling back any banking regulation under the Trump administration as vice chairman for supervision, a post created by the 2010 Dodd-Frank Act …
Read the full article here.
The Federal Reserve Board's Plan to Kill Jobs
Truthout - March 2, 2015, by Dean Baker - There is an enormous amount of political debate over various pieces of...
Truthout - March 2, 2015, by Dean Baker - There is an enormous amount of political debate over various pieces of legislation that are supposed to be massive job killers. For example, Republicans lambasted President Obama’s increase in taxes on the wealthy back in 2013 as a job killer. They endlessly have condemned the Affordable Care Act as a jobs killer. The same is true of proposals to raise the minimum wage.
While there is great concern in Washington over these and other imaginary job killers, the Federal Reserve Board is openly mapping out an actual job killing strategy and drawing almost no attention at all for it. The Fed’s job killing strategy centers on its plan to start raising interest rates, which is generally expected to begin at some point this year.
The Fed’s plans to raise interest rates are rarely spoken of as hurting employment, but job-killing is really at the center of the story. The rationale for raising interest rates is that inflation could begin to pick up and start to exceed the Fed’s current 2.0 percent target, if the Fed doesn’t slow the economy with higher interest rates.
Higher interest rates slow the economy by discouraging people from borrowing to buy homes or cars. They will also have some effect in discouraging businesses from investing. With reduced demand from these sectors, businesses will hire fewer workers. This will weaken the labor market, which means workers have less bargaining power. If workers have less bargaining power, they will be less well-situated to get pay increases. And if wages are not rising there will be less inflationary pressure in the economy.
The potential impact of Fed rate hikes on jobs is large. Suppose the Fed raises interest rates enough to shave 0.2 percentage points off the growth rate, say pushing growth for the year down from 2.4 percent to 2.2 percent. If we assume employment growth drops roughly in proportion to GDP growth, this would imply a reduction in the rate of job growth of almost 10 percent. If the economy would have otherwise created 2.4 million jobs over the course of the year, the Fed’s rate hikes would have cost the economy more than 200,000 jobs in this scenario.
For comparison purposes, we are having a big fight over the Keystone pipeline. The proponents of the pipeline point to the jobs created by building a pipeline as an important justification, even if the oil being pumped through the pipeline may cause enormous damage to the environment. According to the State Department’s analysis, building the pipeline would create 21,000 for two years. This pipeline related jobs gain has been widely touted in the media and is supposed to make it difficult for many members of Congress to go along with President Obama in opposing Keystone.
Yet, the Fed can easily destroy ten times as many jobs with a set of interest rate hikes this year with its actions passing largely unnoticed. In fact, the impact of Fed interest rate hikes on jobs can easily be far larger than this 200,000 number. If the Fed decides that the unemployment rate should not fall below a certain level (5.4 percent is a number is often used), then it could be costing the economy millions of jobs if the economy could actually sustain a considerably lower level of unemployment as it did in the late 1990s.
To be clear, Federal Reserve Board Chair Janet Yellen and her colleagues on the Fed’s Open Market Committee (FOMC) that determines interest rates are not evil people sitting around figuring out how to ruin the lives of American workers. The Fed has a legal mandate to control inflation, in addition to its mandate to sustain high levels of unemployment. If they raise interest rates it will be because they fear inflationary pressures will build if they let the economy continue to grow and unemployment to fall.
But this is inevitably a judgment call. The call is based on both their assessment of the risk of inflation and also the relative harm from higher rates of inflation as opposed to higher rates of unemployment. It is likely that the members of the FOMC, who largely come from the financial industry, are much more concerned about inflation than the population as a whole. They are also likely to be less concerned about unemployment. These are people who tend to read about unemployment in the data, not to see it themselves or among their friends and family members.
This is why it is important that the public be paying attention to the Fed’s interest rate policies and let them know how they feel about raising interest rates to kill jobs. The Center for Popular Democracy has organized an impressive grassroots campaign around the Fed’s interest rate policies. Those who don’t want to see the government deliberately trying to kill jobs might want to join in.Source
Puerto Rico Is Not Ready for 2018 Hurricane Season, Advocates and Members of Congress Warn
Puerto Rico Is Not Ready for 2018 Hurricane Season, Advocates and Members of Congress Warn
Power 4 Puerto Rico is described as a coalition seeking to push Congress to “put Puerto Rico’s economy on the road to...
Power 4 Puerto Rico is described as a coalition seeking to push Congress to “put Puerto Rico’s economy on the road to future growth and prosperity.” The Tuesday call was led by former New York City Council Speaker Melissa Mark-Viverito, now the coalition’s campaign director and a senior advisor to the Latino Victory Project. Rep. Adriano Espaillat (D-NY), Frankie Miranda, senior vice president for the Hispanic Federation, and Ana María Archila, co-executive director for the Center for Popular Democracy, were also on the call.
Read the full article here.
‘We are not ready’: Arizona voters warn Election Day could be worse than primary fiasco
‘We are not ready’: Arizona voters warn Election Day could be worse than primary fiasco
PHOENIX, ARIZONA — On Arizona’s primary day this April, voters in Maricopa County waited five hours in the hot sun to...
PHOENIX, ARIZONA — On Arizona’s primary day this April, voters in Maricopa County waited five hours in the hot sun to cast a ballot, because the county slashed the number of polling places from 200 to 60. Some people gave up and left without voting; some fainted in the desert heat. Polling places ran out of ballots.
After the dust settled, angry voters, candidates, and political parties filed a slew of lawsuits against the state, leading to court settlements and a promise that no voter will have to wait longer than half an hour this fall.
“The primary fiasco was a huge wakeup call,” said Samantha Pstross with the Arizona Advocacy Network.
But elected officials and voting rights advocates fear the situation could be just as bad or worse on Tuesday.
“We are not ready for what I presume will be one of the largest turnouts in Arizona history,” Maricopa County supervisor Steve Gallardo told ThinkProgress. “Everyone is banking on a large number of vote-by-mail ballots. But this is not an ordinary election. We have a record number of new Latino voters. We see lots of excitement out there. We need to be prepared to handle this, but we’re already seeing problems.”
“We are not ready for what I presume will be one of the largest turnouts in Arizona history.”
Gallardo cited troubles that have already plagued the county during early voting, when turnout is usually much lighter than on Election Day itself.
On Friday, the final day of in-person early voting, voters in Tempe waited more than three hours to cast a ballot. Among them was Bob Davis, who arrived around 1:15 p.m. with his four-year-old daughter. Though he was told it would be a two-hour wait, he didn’t cast a ballot until nearly 5 p.m.
“I watched like 20 people leave the line who couldn’t wait,” he told ThinkProgress. “I knew the chance of them coming back and trying again was negligible. I felt really upset.”
Davis noted that there is a ballot measure before Arizona voters this year that would raise the minimum wage from just over 8 dollars an hour to 12 by the year 2020. He said he worries those the measure would impact most will not be able to have a say in its passage.
“If you make only 8.05 an hour, your ability to stand in line for four hours is minimal,” he said. “This is actual voter suppression.”
In Glendale, another Phoenix suburb, an understaffed site with insufficient equipment forced voters to wait more than two hours earlier this week.
“It’s discouraging,” Gallardo said. “No one should have to stand in long lines. It becomes a voting barrier. Some folks don’t have the opportunity to wait. Some are elderly and physically can’t stand that long, others only have a short lunch break from work when they can vote. So if you let long lines occur, you are disenfranchising voters.”
Maricopa County had 724 polling places for the 2012 general election. This year, they will have the exact same number, despite adding more than 90,000 more voters to the rolls. Many of those precincts’ polling places are located in the same building, meaning there will be only 640 separate locations.
“What is scary is what could happen on Election Day,” said Pstross. “If there are long lines, people will be disenfranchised left and right.”
Ever-changing laws fuel voter confusion
Arizona smashed its Latino voter registration record in the final weeks of the 2016 election, adding 150,000 new voters to the rolls. The state also led the nation in Latino early voting. Latino residents cast an unprecedented 13 percent of the votes, up from just 8 percent in 2008. Organizers credit Donald Trump for some of this participation spike, noting that his disparagement of immigrants and promises of mass deportations have mobilized Latinos who previously avoided electoral politics.
But as community advocacy groups like Bazta Arpaio, the Arizona Advocacy Network, LUCHA, and others hit the streets of Phoenix in the campaign’s final days, some fear an avalanche of last-minute court cases and legal changes could confuse and disenfranchise the voters they have worked so hard to engage.
This year alone, Arizona mailed out incorrect information about where to vote and mistranslated one of the ballot propositions on thousands of Spanish-language ballots. The state also allowed the final day of voter registration to fall on a federal holiday, leaving thousands of voters unable to register in time.
Then, on Friday night, a federal appeals court temporarily enjoined Arizona’s new law that made it a felony for anyone other than a relative or caretaker to pick up and mail in a voter’s absentee ballot. On Saturday morning, the U.S. Supreme Court reversed the decision and gave Arizona its blessing to enforce the ballot collection ban.
The back-and-forth left organizers scrambling.
Ben Laughlin, an organizer with the “Bazta Arpaio” campaign to unseat the controversial county sheriff Joe Arpaio, got the news of the ruling just before dispatching a small army of canvassers to knock on doors across the city.
“It causes a lot of confusion,” Laughlin told ThinkProgress. “For months we haven’t been collecting ballots because of the ban. Yesterday, we started collecting ballots. Now we’re not. It was a sweet 24 hour window.”
Bazta Arpaio blasted out this message on Friday night: “This weekend, when a volunteer comes to your door, you can have them turn in your ballot with confidence.” Less than a day later, the group had to abandon those plans.
A mother and her two sons hit the streets of West Phoenix with the Bazta Arpaio campaign. CREDIT: Alice Ollstein
Across the city, Asya Pikovsky with the Center for Popular Democracy scrambled to inform dozens of volunteers about the legal development.
“We got on the phone the second the decision came out and told every single person,” she told ThinkProgress on Saturday. “Our canvassers are following the decision to the letter.”
But other advocates expressed fears that some people could accidentally violate the newly-restored law if they did not get the news in time.
“No one should be considered a felon for helping someone else vote — especially someone who would have no other way to get to the polls,” Pstross said.
She fears even those following the law could face unlawful harassment from poll watchers, who have been instructed to follow and photograph those turning in multiple ballots.
“We’re worried that, say, someone who works at a retirement home could show up with 50 to 100 ballots,” she said. “They’re a legitimate caretaker, but even if they’re totally within the law, a crazy person could challenge and intimidate them.”
Sheriffs and vigilantes
Concerns about intimidation by poll-watchers were elevated Saturday, when a federal court declined to put a halt to plans by Trump’s campaign, the Arizona GOP, and a group run by Trump ally Roger Stone to patrol minority-heavy precincts, film those who they suspect of voter fraud, and question people exiting the polls about which candidate they supported.
“It is Plaintiff’s burden to illustrate that these activities are likely to intimidate, threaten, or coerce voters,” the court ruled. “The evidence…has failed to do so.”
But officials and voting rights advocates in Arizona are not just worried about intimidation from such volunteers — They are also sounding the alarm about the potential presence of the county sheriffs at the polls on Election Day.
The Maricopa County Recorder’s office, which administers the election, plans to call in sheriffs if there are any disputes at the polls, even though the head of the department is currently on trial for criminal contempt and racial profiling. Sheriffs have already been summoned to early voting sites, including one incident this week in which voters were upset about turned away at 4:30 p.m. because the polls were supposed to be open until 5 p.m.
“This should be an exciting time for voters — not a time of anxiety or fear.”
Voting rights advocates and elected officials said that having the same sheriffs who conducted immigration raids patrol the polls will intimidate Latino voters. Some groups have called on the Justice Department to send monitors to oversee the sheriffs’ activities, while others are demanding the County Recorder use a different law enforcement agency on Election Day.
“We have a sheriff that has divided and polarized this county and created distrust between the community and the sheriff’s office,” Gallardo said. “It’s time to distance ourselves from the sheriffs’ office and use other agencies like Phoenix Police that actually have credibility with the public. The sheriffs should not be involved in this election.”
“This should be an exciting time for voters — not a time of anxiety or fear,” added Alex Gomez, Executive Director of the Arizona Center for Empowerment. “On Election Day, the story should be about Arizonans proudly casting their ballots — not voters scared off from the polls.”
By Alice Miranda Ollstein
Source
NATIONAL GROUPS CALL FOR DNC TO CAN SUPERDELEGATE SYSTEM
NATIONAL GROUPS CALL FOR DNC TO CAN SUPERDELEGATE SYSTEM
Fourteen national organizations boasting more than 10 million members are calling on the Democratic National Committee...
Fourteen national organizations boasting more than 10 million members are calling on the Democratic National Committee to end the use of superdelegates to elect the presidential nominee.
The move to end the use of superdelegates was pushed vigorously during the campaign by Sen. Bernie Sanders but many of those supporting the effort include backers of Hillary Clinton, the presumptive Democratic nominee.
DNC Rules Committee member and Rhode Island State Representative Aaron Regunberg has pledged to introduce language to end superdelegates, and several other Rules Committee members have agreed to support the effort at the Democratic National Convention at the end of July.
The organizations said in a joint letter that the superdelegates, who are typically party officials, are not elected by voters and can skew the nominating process. They say the superdelegates carry as much as the combined weight as pledged delegates from 24 states, the District of Columbia and four territories.
Organizations signing on to the letter include: Courage Campaign, Credo, Daily Kos, Demand Progress/Rootstrikers, Democracy for America, Center for Popular Democracy, MoveOn, National Nurses United, NDN, The Other 98%, Presente.org, Progressive Change Campaign Committee, Progressive Democrats of America, and Social Security Works.
Simon Rosenberg, the president of NDN and a former DNC staffer, who supported Hillary Clinton during the primary, said the use of superdelegates is “discordant with broader and vital efforts by Democrats to modernize and improve our democracy. If we want the voice of everyday people to be louder and more consequential in our nation’s politics, it must also be so in our Party.”
Another Clinton supporter, Joe Trippi, who ran Howard Dean’s unsuccessful presidential campaign in 2004, said a key party goal is to “empower voices from the bottom up. The top down idea of superdelegates is obsolete and is a good place to start.”
Sanders’ supporter Rep. Tulsi Gabbard, a superdelegate and former DNC official, also condemned the practice.
“The nominee of our party should be decided by who earns the most votes —not party insiders, unelected officials, or the federal lobbyists that have been given a vote in our nominating process. The current system stands against grassroots activists and the will of the voters,” she said. “We’ve seen a historic number of new voters and activists join our political process in the past year, many of whom are rightly upset at how rigged the political system can seem at times. If we want to strengthen our democracy and our party, we must end the superdelegate process.”
By MARK JOHNSON
Source
Multiple Arrests In Midtown During May Day Protests Outside Banks
Multiple Arrests In Midtown During May Day Protests Outside Banks
Hundreds of labor and immigrant advocates marched through east midtown early Monday in a demonstration against...
Hundreds of labor and immigrant advocates marched through east midtown early Monday in a demonstration against corporations which they say are profiting from President Trump's agenda—one of a series of May Day protests scheduled to take place throughout the city (and beyond) on Monday.
The specific targets of this action, according to organizers from Make The Road New York, are the Wall Street banks that help finance private prisons and immigrant detention centers. To that end, organizers said twelve protesters were arrested for peaceful civil disobedience while blocking the entrances outside of JPMorgan Chase, which is one of the companies named in Make The Road's and the Center for Popular Democracy's Backers Of Hate campaign.
Read full article here.
De Blasio’s Executive Order Increases, Expands Living Wage
Amsterdam News - October 9, 2014, by Stephon Johnson - Last week, New York City Mayor Bill de Blasio signed an...
Amsterdam News - October 9, 2014, by Stephon Johnson - Last week, New York City Mayor Bill de Blasio signed an executive order to increase and expand the living wage to benefit more New Yorkers.
At City Hall, while announcing the signing of his executive order, De Blasio said “$13.13 for those without benefits, $11.50 for those who have health insurance and other benefits. This applies to employers, excuse me, employees, I should say, of large groups of employers who do business with the city. Meaning, there’s a lot of companies that do business with the city, that come to the city for subsidies. We think if you want a subsidy, you can prove the need for a subsidy. We want to help you achieve your goals, but we have a standard we hold.”
De Blasio continued, “We need to make sure people are paid a living wage. That’s a fair exchange for that subsidy. What it means—let me put this in real terms—what this means, is the difference between the $8-an-hour minimum wage right now, and the $13.13 that will take effect immediately for those employees of companies that get subsidies going forward. That is a difference of over $10,000 dollars in earnings a year. $10,000. Someone who would have made $16,000—not enough to get by—will now make over $27,000 a year. And that’s a difference maker.”
According to de Blasio, any project that gets more than a million dollars in city subsidies qualifies, stating that it will reach people in lines of work like retail, food services and construction.
Advocates for a raise in the minimum wage have said this action was a long time coming. Shantel Walker, a Papa John’s employee who makes $8.50 an hour and who is a member of Fast Food Forward, praised de Blasio’s actions.
“Nearly two years ago, 200 fast-food workers in New York City walked off our jobs, calling for $15 and union rights,” said Walker in a statement. “Our demand may have sounded crazy at the time, but more and more, $15 is becoming a reality for workers across the country. As we’ve gone on strike again and again and a movement that started here in New York has spread to 150 cities, $15 suddenly doesn’t seem so impossible. From Seattle to Los Angeles to San Francisco and now New York, cities are raising wages so we don’t have to rely on public assistance to support our families.”
Walker also stated that the recent developments are a sign, to her, that minimum wage advocates are on the right side of history.
“While he works with Gov. Cuomo to raise wages for all New Yorkers, Mayor de Blasio’s move today to put workers at city-subsidized projects on a path to $15 is a sign that we are winning,” Walker said. “It’s a step in the right direction and helps push us forward in our fight for $15 for workers across the entire country.”
While the city’s working class has achieved a major victory, the state’s working class is still making the push collectively. Andrew Friedman, co-executive director of the Center for Popular Democracy, pushed for Albany to follow suit in a statement.
“The Albany wage board should eliminate the tipped minimum wage to make this vision a reality and end the wage segregation that traps workers in poverty—workers who are overwhelmingly female and of color,” said Friedman. “Partnering with progressive local, state and federal leadership means we can work together to afford a dignified life for all residents, which means comprehensive policies that include a $15 minimum hourly wage, a predictable and fair workweek, paid sick days and a healthy macro-economy that nurtures equity, creates viable new jobs and protects us from risk-taking by financial institutions.”
Back in the five boroughs, Brooklyn Borough President Eric Adams praised de Blasio for the executive order, citing it as another example of New York City leading the pack. He said that de Blasio had “reaffirmed his commitment to civic innovation and our residents’ welfare by raising the living wage and furthering its reach to thousands more workers. This is a measure that recognizes the cost of living challenges that New Yorkers face and builds a meaningful bridge over the inequality gap we have sought to close across Brooklyn and the rest of the five boroughs.
Source
Facebook Founder Gives $20mm Donation On Hillary To Defeat Trump's "Fear And Hostility" Campaign
Facebook Founder Gives $20mm Donation On Hillary To Defeat Trump's "Fear And Hostility" Campaign
A few weeks back we noted how Bullard had questioned the intentions of ex-Facebook founder Dustin Moskovitz in funding...
A few weeks back we noted how Bullard had questioned the intentions of ex-Facebook founder Dustin Moskovitz in funding the Center for Popular Democracy's Fed Up campaign (see "Why Is Facebook Funding "Anti-Fed" Activists"). The "Fed Up" group has mounted an aggressive effort to convince the Fed to keep rates ultra low noting they favor central banking policies that "are aimed at making sure lower income households and minorities share in the recovery to the same degree as the well off."
Ironically, Moskovitz, and his inflated FaceBook shares, are among the key beneficiaries of "ultra low rates" and not so much the poor and struggling people of this country. A fact that was not lost on St. Louis Fed president James Bullard. Per our previous post:
When it comes to Fed Up, "it's Facebook money," Bullard said. "I think it's kind of a funny thing for them to fund because they want low interest rates in an era where we are awash in low interest rates, so it's kind of crazy, isn't it?"
"I think that Dustin Moskovitz should be here, maybe he can helicopter in from Sun Valley or something instead of sending all these people, if he wants low interest rates. He could just come and argue about it," Mr. Bullard said.
Just a few short weeks later we now learn that the billionaire techie, and former college roommate of Mark Zuckerberg, is set to become one of the largest donors to the Democratic Party. According to CNN, Moskovitz will donate a total of $20 million to various Democratic organizations making him the 3rd most generous donor of this election cycle. But Moskovitz, at least if taken at his word, isn't really donating to elect Hillary as much as to defeat Trump saying that he wants to teach Republicans a lesson that by "supporting this kind of candidate, they compel people to act in response."
"This decision was not easy, particularly because we have reservations about anyone using large amounts of money to influence elections," Moskovitz and his wife, Cari Tuna, wrote in a post on Medium. "We hope these efforts make it a little more likely that Secretary Clinton is able to pursue the agenda she's outlined, and serve as a signal to the Republican Party that by running this kind of campaign - one built on fear and hostility?—?and supporting this kind of candidate, they compel people to act in response."
"Cari and I have dedicated our lives to figuring out how to do the most good we can with the resources we've been given. Until now, those efforts have not included making endorsements or contributions in presidential elections," Moskovitz wrote. "The Republican Party, and Donald Trump in particular, is running on a zero-sum vision, stressing a false contest between their constituency and the rest of the world."
But perhaps Moskovitz is less concerned about Trump spreading "fear and hostility" and more concerned about his recent comments suggesting that the only thing the Fed has created with "ultra low rates" is a "strong artificial stock market." Per CNN,
"They're keeping rates down because they don't want everything else to go down," the Republican presidential nominee told Reuters on Monday.
Trump said the "only thing that is strong is the artificial stock market."
"We have a very false economy," Trump told Reuters. "At some point the rates are going to have to change."
Sounds like someone is a little worried about bubbly tech markets?
By Tyler Durden
Source
CORRUPT CONGRESSMEN DEMAND DIVERSITY FROM FEDERAL RESERVE
CORRUPT CONGRESSMEN DEMAND DIVERSITY FROM FEDERAL RESERVE
Do you know what our divided and divisive political system needs? More tribalism. And who would know that better than...
Do you know what our divided and divisive political system needs? More tribalism.
And who would know that better than Cherokee Senator Elizabeth Warren who has a letter out complaining that there are too many white men on the board of the Federal Reserve. The letter is co-signed by the usual clown show of the Congressional Black Caucus and the Progressive Caucus.
The first signature belongs to John Conyers whose wife pleaded guilty to a conspiracy to commit bribery. Also present are the likes of Maxine Waters and Frederica Wilson, Gwen Moore, former Nation of Islam supporter Keith Ellison, Bernie Sanders, Al Franken, Bernice Johnson and Alcee Hastings, who was impeached for bribery.
Bernice Johnson had her own ethical issues.
Longtime Dallas congresswoman Eddie Bernice Johnson has awarded thousands of dollars in college scholarships to four relatives and a top aide's two children since 2005, using foundation funds set aside for black lawmakers' causes. Eddie Bernice Johnson
The recipients were ineligible under anti-nepotism rules of the Congressional Black Caucus Foundation, which provided the money. And all of the awards violated a foundation requirement that scholarship winners live or study in a caucus member's district.
What's This?
And Maxine Waters? She's got a record.
The influential congresswoman has helped family members make more than $1 million through business ventures with companies and causes that she has helped, according to her hometown newspaper.
A few years ago Waters was investigated by the House Ethics Committee for steering $12 million in federal bailout funds to a failing Massachusetts bank (that subsequently got shut down by the government) in which she and her board member husband held shares.
Waters has also come under fire for skirting federal elections rules with a shady fundraising gimmick that allows her to receive unlimited amounts of donations from certain contributors. For years the veteran Los Angeles lawmaker has raked in hundreds of thousands of dollars in short periods of time by selling her endorsement to other politicians and political causes for as much as $45,000 a pop instead of raising most of her campaign funds from individuals and political action committees.
Then there's Alan Grayson who has his own hedge fund.
Rep. Alan Grayson manages hedge funds that use his name in their title, a practice prohibited by congressional ethics rules designed to prevent members from using their elected post for financial gain.
The specific ethics provisions tied to the funds Grayson manages, two of which are based in the Cayman Islands, sit in a sort of gray area and have never been examined by the House Ethics Committee.
Sure. Let's let these people dictate diversity at the Fed.
By Daniel Greenfield
Source
1 month ago
1 month ago