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what they do to our democracy

Le 12 novembre 2015, 03:54 dans Humeurs 0

 

The Federal Deposit Insurance Corporation is smart enough to refuse to answer the question. Without any guidance from the regulators, there's no expertise in the FBI to investigate complex frauds. It isn't simply that they've had to reinvent the wheel of how to do these prosecutions; they've forgotten that the wheel exists, and therefore, we have zero prosecutions, and of course, zero convictions, of any of the elite bank frauds, the Wall Street types, that drove this crisis.

With no expertise coming from the regulators, the FBI formed what it calls a partnership with the Mortgage Bankers Association in 2007. The Mortgage Bankers Association is the trade association of the perps 200w box mod.

And the Mortgage Bankers Association set out, it had the audacity and the success to con the FBI. It had created a supposed definition of mortgage fraud, in which, guess what, its members are always the victim and never the perpetrators. And the FBI has bought this hook, line, sinker, rod, reel and the boat they rode out in.

And so the FBI, under the leadership of an attorney general who is African-American and a president of the United States who is African-American, have adopted the Tea Party definition  Zero Moment Of Truth of the crisis, in which it is the first virgin crisis in history, conceived without sin in the executive ranks.

And it's those oh-so-clever hairdressers who were able to defraud the poor, pitiful banks, who lack any financial sophistication.

It is the silliest story you can conceive of, and so they go and they prosecute the hairdressers, and they leave the banksters alone entirely. And so, while lions are roaming the campsite, the FBI is chasing mice.

What do we need to do? What can we do in all of this? We need to change the perverse incentive structures that produce these recurrent epidemics of accounting control fraud that are driving our crises.

So we have to first get rid of the systemically dangerous institutions. These are the so-called too-big-to-fail institutions. We need to shrink them to the point, within the next five years, that they no longer pose a systemic risk.Right now, they are ticking time bombs that will cause a global crisis as soon as the next one fails -- not if, when.

Second thing we need to do is completely reform modern executive and professional compensation, which is what they use to suborn the appraisers. Remember, they were pressuring the    appraisers through the compensation system, trying to produce what we call a Gresham's dynamic, in which bad ethics drives good ethics out of the marketplace. And they largely succeeded, which is how the fraud became endemic.

And the third thing that we need to do is deal with what we call the three D's: deregulation, desupervision, and the de facto decriminalization. Because we can make all three of these changes, and if we do so, we can dramatically reduce how often we have a crisis and how severe those crises are. That is not simply critical to our economy.

They have produced crony capitalism, American-style, in which the largest financial institutions are the leading financial donors of both parties, and that's the reason why even after this crisis, 70 times larger than the savings and loan crisis, we have no meaningful reforms in any of the three areas that I've talked about, other than banning liar's loans, which is good, but that's just one form of ammunition for this fraud weapon. There are many forms of ammunition they can use.

That's why we need to learn what the bankers have learned: the recipe for the best way to rob a bank, so that we can stop that recipe, because our legislators, who are dependent on political contributions, will not do it on their own.

cut spending in a responsible way

Le 10 novembre 2015, 08:31 dans Humeurs 0

For the past couple months, I’ve been working with people in both parties – with the help of business leaders and ordinary Americans – to come together around a plan to grow the economy and shrink our deficits .

It’s a balanced plan – one that would protect the middle class,and ask the wealthiest Americans to pay a little more.  And I’ll keep working with anybody who’s serious about getting a comprehensive plan like this done – because it’s the right thing to do for our economic growth.

But we’re now at the point where, in just a couple days, the law says that every American’s tax rates are going up. Every American’s paycheck will get a lot smaller. And that would be the wrong thing to do for our economy. It would hurt middle-class families, and it would hurt the businesses that depend on your Red Wine Cellar spending.

And Congress can prevent it from happening, if they act now. Leaders in Congress are working on a way to prevent this tax hike on the middle class, and I believe we may be able to reach an agreement that can pass both houses in time.

But if an agreement isn’t reached in time, then I’ll urge the Senate to hold an up-or-down vote on a basic package that protects the middle class from an income tax hike, extends vital unemployment insurance for Americans looking for a job, and lays the groundwork for future progress on more economic growth and deficit reduction.

I believe such a proposal could pass both houses with bipartisan majorities – as long as these leaders allow it to come to a vote. If they still want to vote no, and let this tax hike hit the middle class, that’s their prerogative – but they should let everyone vote. That’s the way this is supposed to work.

We just can’t afford a politically self-inflicted wound to our economy. The economy is growing, but keeping it that way means that the folks you sent to Washington have to do their jobs. The housing market is healing, but that could stall if folks are seeing smaller paychecks.  The unemployment rate is the lowest it’s been since 2008, but already, families Moving company and businesses are starting to hold back because of the dysfunction they see in Washington.

You meet your deadlines and your responsibilities every day. The folks you sent here to serve should do the same. We cannot let Washington politics get in the way of America’s progress. We’ve got to do what it takes to protect the middle class, grow this economy, and move our country forward.

to cement the principle

Le 29 octobre 2015, 09:26 dans Humeurs 0

This law means that women can finally buy coverage that doesn’t charge them higher premiums than men for the same care.

And everyone who already has health insurance, whether through your Sculptra  employer, Medicare, or Medicaid, will keep the benefits and protections this law has already put in place.  Three million more young adults have health insurance on their parents’ plans because of the Affordable Care Act.

 More than six million people on Medicare have saved an average of $1,000 on their prescription medicine because of the Affordable Care Act.  Last year, more than 8 million Americans received half a billion dollars in refunds from their insurers because of the Affordable Care Act.  And for tens of millions of women, preventive care like mammograms and birth control are free because of the Affordable Care Act.

We did not fight so hard for this reform for so many years just to build a website.  We did it to free millions of American families from the awful fear that one illness or injury – to yourself or your child – might cost you everything Azureliving you’d worked so hard to build.

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