As I said----this looks just as Mexico having PRI political group install global neo-liberal Foreign Economic Zones under REAGAN/CLINTON moving that political party to working to create that 1% and their 2% by filling Mexico with massive fraud, corruption, and all institutions tied to labor and justice captured to moving wealth to the top through corruption----labor and church groups----
JUST AS IS HAPPENING THESE FEW DECADES OF CLINTON/BUSH/OBAMA IN US CITIES DEEMED FOREIGN ECONOMIC ZONES LIKE BALTIMORE.
The elections for pols as well as the elections for labor union leaders became filled with fraud in the US ---just as in Latin America.
FROM A FRIEND: The money that is appropriated to states for social services, if not used for food cards for the poor is not returned for reappropreation but instead goes into the PENTEGON BUDGET SLUSH FUND OR BURIED SOMEWHERE IN A MILITARY BUDGET. IN THE 1990s I was watching a cable channel in the wee morning that recorded congress 24 hours a day. Some Jr congresswoman from an eastern state was upset that the social service money she had worked on for her state was not reaching her constitutes. She had just learned where it did go and a the other states also. The big boys basically said that was how things worked and if she wanted to be be there in three years she best not Rock the Boat. ..OH.BUT SHE WAS MAD..We had no social media in those days so never saw her again.
If we look at the Robber Baron pols of a century ago----it was Woodrow Wilson was Clinton setting the stage for dismantled oversight and accountability and small government with empire-building economic neo-liberalism. Calvin Coolidge was that small government guy as Bush giving us the roaring 20s sending all wealth to the 1% industrialists. Each time we had a laissez-faire small government we had massive wealth redistribution to the 1% so WE THE PEOPLE need to educate our children against allowing these breaks of economic policy to deregulation and small government because---THEY DO IT OVER AND OVER AND OVER AGAIN.
That allowed Wall Street fraud go wild just as Clinton/Bush/Obama did ----the roaring 20s was simply systemic fraud and government corruption much as CLINTON/BUSH/OBAMA. There was that 5% to the 1% back then ----TAMMANY HALL WALL STREET PLAYERS----that aided and abetted all that fraud. Below we see Hoover as what is now TRUMP-----Hoover was Robber Baron President when Wall Street crashed and it was his lack of response that brought in a Roosevelt with a SOCIAL DEMOCRATIC NEW DEAL. Trump was installed to make sure all that US sovereign debt from global subprimed US Treasury and state municipal bond fraud stands-----that the debts are paid through austerity---public trusts----whatever is not nailed to the wall.
THE US RULE OF LAW REQUIRES THAT BOND DEBT BE VOIDED BECAUSE IT IS ORCHESTRATED, WILLFUL, WITH MALICE FRAUD AGAINST WE THE PEOPLE.
Elected in his own right in 1924, he gained a reputation as a small-government conservative, and also as a man who said very little, although having a rather dry sense of humor.
Though his reputation underwent a renaissance during the Ronald Reagan administration, modern assessments of Coolidge's presidency are divided. He is adulated among advocates of smaller government and laissez-faire; supporters of an active central government generally view him less favorably, while both sides praise his stalwart support of racial equality.
Herbert HooverFrom Wikipedia, the free encyclopedia
31st President of the United States
March 4, 1929 – March 4, 1933
Vice PresidentCharles Curtis
Preceded byCalvin Coolidge
Succeeded byFranklin D. Roosevelt
3rd United States Secretary of Commerce
March 5, 1921 – August 21, 1928
PresidentWarren G. Harding
Preceded byJoshua W. Alexander
Succeeded byWilliam F. Whiting
Director of the U.S. Food Administration
August 21, 1917 – November 16, 1918
Preceded byPosition established
Succeeded byPosition abolished
BornHerbert Clark Hoover
August 10, 1874
West Branch, Iowa, U.S.
DiedOctober 20, 1964 (aged 90)
New York City, New York, U.S.
Resting placeHerbert Hoover Presidential Library and Museum
West Branch, Iowa
Spouse(s)Lou Henry (m. 1899; d. 1944)
ChildrenHerbert Jr. and Allan
ResidenceStanford, California, U.S.
SignatureHerbert Clark Hoover (August 10, 1874 – October 20, 1964) was an American politician who served as the 31st President of the United States from 1929 to 1933. A Republican, as Secretary of Commerce in the 1920s he introduced Progressive Era themes of efficiency in the business community and provided government support for standardization, efficiency and international trade. As president from 1929 to 1933, his ambitious programs were overwhelmed by the Great Depression, that seemed to get worse every year despite the increasingly large-scale interventions he made in the economy. He was defeated in a landslide in 1932 by Democrat Franklin D. Roosevelt, and spent the rest of his life as a conservative denouncing big government, liberalism and federal intervention in economic affairs, as Democrats repeatedly used his Depression record to attack conservatism and justify more regulation of the economy.
This is great. Each US city deemed Foreign Economic Zone like Baltimore had its local Robber Baron pols moving all wealth coming into the city to expand global corporations overseas to those Foreign Economic Zones. Here in Baltimore that was SCHMOKE, O'MALLEY, DIXON, and here is Rawlings-Blake. We had PUGH installed in a 2016 election that was so corrupt even local media blushed in having to report results. These mayors correspond with CLINTON/BUSH/OBAMA.
In third world nations---this is what global Wall Street does. It identifies the SHOW ME THE MONEY 5%----and then let's them loose on the citizens. These 5% are about to be thrown under the bus as this coming decade will install NEW CITY ----BLOOMBERG FOREIGN ECONOMIC ZONE 2 NORTH AMERICA global corporate rule pols and appointments-----this was what the 2016 election did in Baltimore City Council.
Rawlings-Blake did EVERYTHING SHE WAS TOLD------Sheila Dixon was indicted for petty theft because she tried to send some revenue to poor communities daring step away just a bit from MOVING FORWARD MASTER PLAN OF GLOBAL CORPORATE CAMPUS PLANTATION.
So, CLINTON/BUSH/OBAMA made sure all these local and state pols and appointments were up to their elbows in fraud and corruption because---they are then CAPTURED----they cannot reform or do what is right---they are literally ENSLAVED while LOOKING GOOD. The same occurred overseas in Asia----in Latin America---now coming to the US.
TODAY'S CATHERINE PUGH IS SUPER-COMMITTED TO DOING ANYTHING GLOBAL WALL STREET TELLS HER IN MOVING FORWARD TO NEW CITY-----BLOOMBERG FOREIGN ECONOMIC ZONE 2 NORTH AMERICA.
Rawlings-Blake Before Pillaging Baltimore and After
verb (used with object), pillaged, pillaging.
1. to strip ruthlessly of money or goods by open violence, as in war; plunder:
The barbarians pillaged every conquered city.
After 6 years I can say the money was well spent tho...
Needless to say I expect Catherine Pugh to look like Diana Ross in 4 years or something is up...
PUGH in Maryland Assembly was key to all of the Wall Street Baltimore Development 'labor and justice' organizations tied to selling all the subprimed Wall Street financial instuments like for-profit higher education frauds-------subprime mortgage frauds------she sold all the state bond debt super-sized in Baltimore just as she was told. Watch as what she POSES SOCIAL PROGRESSIVE TODAY falls to SAVING THE ECONOMY as the economic crash from all these several years of fraud hit----and she hands Baltimore over to GLOBAL WALL STREET.
The bottom right is Republican Governor Larry Hogan---he is ONE WORLD BUSH/HOPKINS NEO-CON to Pugh's ONE WORLD Clinton neo-liberal. Yes, they will work together to install Foreign Economic Zone global corporate campuses and global factories filled with millions of global labor pool with no US sovereignty---no state sovereignty----no local sovereignty----just global corporate tribunal rule and global corporations doing whatever they want to maximize profits.
Catherine Pugh sworn in as Baltimore's 50th mayor
Catherine Pugh is sworn in as the 50th Mayor of Baltimore City at a ceremony held at the War Memorial. (Kevin Richardson/Baltimore Sun video)
Yvonne Wenger and Luke BroadwaterContact ReportersThe Baltimore Sun
Catherine E. Pugh, 66, is Baltimore's 50th mayor. A day of events is planned.Baltimore Mayor Catherine E. Pugh made unity the central focus of her inauguration Tuesday. The Democrat was surrounded on stage by leaders from across the state, including Republicans and a past rival.
Pugh, 66, vowed to be "a mayor for all" who will channel investment into long-neglected communities, work to reduce crime and foster thriving schools.
"We understand that downtowns are really important, but so are uptowns and neighborhoods from east to west, north to south," she said. "Every neighborhood deserves to be the greatest."
The former city councilwoman and state senator faces a series of challenges as Baltimore's 50th mayor.
Just type in a Name and select a State. Then brace yourself for what you might find on you or anyone else!
See MoreShe must battle crime in a city that is likely to record 300 homicides for the second consecutive year, negotiate what's expected to be a multimillion-dollar legal agreement with the U.S. Department of Justice to combat police misconduct, and address the city's deep-seated poverty.
She did not offer any specific policy plans during her 10-minute speech Tuesday inside Baltimore's War Memorial. Instead, she devoted much of her time to talking about the relationships she has cultivated with power brokers around the city and state, including Republican Gov. Larry Hogan. Several former mayors — including Sheila Dixon, a rival in this year's mayoral election — joined her on the dais.
Gov. Larry Hogan, Annapolis leaders praise new Baltimore mayor More than 500 people gathered in the War Memorial for the hourlong event. Pugh, known for her fashion choices, wore a red-and-white, fit-and-flare designer dress. She was sworn in by Court of Appeals Judge Shirley Watts. Pugh's brothers stood at her side.
The Morgan State University Choir performed "God Bless America" and John Legend's "Glory." Former Mayor Kurt L. Schmoke was the ceremony's emcee.
Hogan told those assembled that he and Pugh have a "shared vision for Baltimore."
The governor said he and Pugh want world-class schools, a pro-jobs economic climate and safer communities.
"I could not be more confident that — under her leadership and under a renewed partnership between the governor's office in Annapolis and the leadership in the city of Baltimore — by working together we truly can change Baltimore and Maryland for the better," Hogan said.
Later, Pugh told Hogan she was ready to join him on a trip to Washington, where she wants to ask President-elect Donald Trump to invest federal money in improving Baltimore's infrastructure.
The relationship between Hogan and departing Mayor Stephanie Rawlings-Blake grew increasingly strained over time. Rawlings-Blake, who did not seek re-election, was seated next to the lectern but did not speak during the ceremony. Former mayors Thomas D'Alesandro III and Martin O'Malley also attended.
Dixon said she was invited as a "courtesy to former mayors." She narrowly lost to Pugh in the Democratic primary in April and then launched a write-in campaign, garnering more than 50,000 votes in the November election.
"I wanted to participate because you've got to move forward," Dixon said afterward. "It's about being mature and not taking it personal, from my perspective. I try to strive and take the high road. I care about this city and I want the best for the city."
Mileah Kromer, director of the Sarah T. Hughes Field Politics Center at Goucher College, said Pugh made it a point to spotlight the importance of partnerships. For example, she seated Howard County Executive Allan Kittleman and Harford County Executive Barry Glassman, both Republicans, on the stage.
HARFORD AND HOWARD ARE GREATER BALTIMORE FOREIGN ECONOMIC ZONE REAL ESTATE----YES, THEY ARE TEAM ONE WORLD ONE GOVERNANCE ONE GLOBAL CORPORATE TRIBUNAL POLS.
"Catherine Pugh's work in the legislature demonstrates that she is an individual who is willing to work across party lines to accomplish her goals," Kromer said. "It will be interesting to see if she can actually bring these factions together."
Pugh, a longtime resident of Northwest Baltimore's Ashburton neighborhood, was elected to the state Senate in 2007. She served in the House of Delegates from 2005 to 2007 and on the Baltimore City Council from 1999 to 2004.
A native of Philadelphia, Pugh is one of seven children. She's the daughter of a union laborer in a rubber factory, who died of asbestos exposure 40 years ago. She moved to Baltimore as a young woman to attend Morgan State University.
Pugh has worked in banking, publishing, public relations and journalism. She was dean and director of Strayer's Business College, now known as Strayer University. She co-owns a Pigtown consignment shop, wrote a series of children's books and helped start the city's marathon and the Baltimore Design School, a public middle-high school in East Baltimore.
She spent more than $2.4 million during the campaign for mayor, beating a crowded field in April's Democratic primary and easily winning the November election over Republican Alan Walden, Green Party candidate Joshua Harris and Dixon.
Pugh previously ran for mayor in 2011, losing to Rawlings-Blake.
Her inaugural speech — which she did not write in advance — covered her typical talking points: seeing the "glass as half full, as opposed to half empty" and having a past that prepared her to become mayor. She cited a desire to support business development and an understanding of the plight facing the thousands of city residents who are unemployed or homeless.
"I will be the greatest cheerleader this city will ever have," Pugh said, also pledging to be Baltimore's "servant leader."
City Councilman Brandon Scott said he hopes the new mayor will strike deals with the City Council on several unresolved issues, including whether to sell downtown parking garages to raise money for recreation centers. Rawlings-Blake and City Council President Bernard C. "Jack" Young fought over the proposal.
"She's excited to partner with people, to put aside egos to move the city forward," Scott said of Pugh.
Pugh's inaugural celebration stretched into Tuesday night. Following the swearing-in ceremony, she had a luncheon at the War Memorial and four free community receptions at locations across the city, from the Middle Branch Rowing Club to Cylburn Arboretum in North Baltimore.
Before giving brief remarks at the rowing center, Pugh greeted a group of students at the back of the room from Carter G. Woodson Elementary/Middle School in Cherry Hill.
Their teacher, Melvin Worthington III, said he brought them to hear their new mayor tell them what the future has in store for them.
It was a chance, he said, to give them a positive look at government — "for them to see a real-life expression of how government works for them."
The night's big party at the Hilton Baltimore required tickets, sold for $100 each.
A spokesman said the final cost of the events was still being tallied. The costs will be covered by privately raised money, he said, and any surplus will be donated to a yet-to-be-determined charity.
In one of her first official acts, Pugh is expected to preside over a meeting of the city's spending panel, the Board of Estimates, at 9 a.m. Wednesday.
As her four-year term begins, she faces several high-profile issues left unresolved by Rawlings-Blake, including whether to sell the garages, bring back speed cameras and tear down Baltimore's Confederate-era monuments.
Pugh also must conclude negotiations with the U.S. Department of Justice to address police misconduct documented in the agency's scathing investigation released in August. And she must conclude negotiations with the city police union for a new contract.
As top advisers, Pugh has selected former interim city schools CEO Tisha Edwards, Del. Peter Hammen, former Baltimore County Executive James T. Smith Jr., former Pennsylvania government official Karen Stokes and longtime public affairs professional Anthony McCarthy.
Edwards will be her chief of staff. Hammen will be her chief of operations. Smith will be chief of strategic alliances. Stokes will be director of government relations and McCarthy will be director of communications.
Park Heights resident Ronald Starr took a seat toward the back of the sprawling hall to watch the inauguration. Though the retiree did not support Pugh during the election (he declined to say who voted for), Starr said he stands ready to support her.
Her first task, he said, is dealing with crime.
"I think she's motivated from the heart," Starr said.
REAGAN/CLINTON far-right wing neo-liberal economics KILLED FREE MARKET IN THE US----IT KILLED OUR SMALL BUSINESS AND REGIONAL BUSINESSES AND CONSOLIDATED ALL TO GLOBAL MONOPOLIES.
It did that with this same mantra Trump is giving and look-----there are the same local Chamber of Commerce small business groups backing this same CON ARTIST STANCE for another generation. There is NO INTENTION of building small business economies in US cities deemed Foreign Economic Zones----these pols JUST SAY THAT. We have yet another generation of citizens wanting to be that small business owner FOLLOWING THESE LYING, CHEATING, STEALING GLOBAL RICH----instead of leading in their communities actually building community small business economies. Bill and Hillary are the face of DEAD US ECONOMY----THEY KILLED FREE MARKET---THEY ARE THE FACE OF FRAUD AND CORRUPTION THROUGHOUT OUR US ECONOMY AND GOVERNMENT and Trump is a billionaire having been that global Wall Street player ready to continue more of the same.
It matters who WE THE PEOPLE allow to be our local leaders. It matters who is that Baltimore Urban League----that Baltimore Chamber of Commerce leader----that NGO leader training our youth to be global Wall Street followers and not REAL left community leaders.
'"I want to be a small-business president, a president who does make it easier to start and run a small business in this country, so it seems less like a gamble and more like an opportunity. We have to level the playing field for our small businesses," Clinton said'.
Small-business owners on Donald Trump bandwagon: Manta poll
Kate Rogers | @katerogersnews
Friday, 14 Aug 2015 | 12:33 PM ETCNBC.com
Trump's staying power Tuesday, 11 Aug 2015 | 8:19 AM ET | 02:07
Donald Trump continues to enjoy a lead in several national polls, and it looks like his popularity surge continues among the small-business crowd.
As the campaign trail heats up on the road to the 2016 presidential election, candidates are beginning to vie for the small-business vote. According to a new poll from Manta, a small-business networking platform, Trump is the top choice among small-business owners for president with close to 38 percent of respondents selecting him. That comes even after his performance in the recent GOP debate and tussle with Fox News moderator Megyn Kelly.
Democrat Hillary Clinton came in second with 17 percent of the vote, with Republicans Jeb Bush and Marco Rubio in a virtual tie for third place with nearly 6 percent of the vote each. Manta surveyed 815 small-business owners.
Even Trump's GOP competition, including Ohio Gov. John Kasich, have acknowledged he has "struck a nerve" among some voters. This seems to be the case on Main Street as well, said Jack Mozloom, director of media and communications at the National Federation of Independent Business, a conservative lobbying group.
"He has tapped into something. I think what our members like best about him is the fact that he speaks in simple language that they understand. He is a casual, real guy," Mozloom said.
Trump is also good at "diagnosing problems," Mozloom added, something that resonates with small-business owners feeling frustrated by regulations, tax burdens and slow growth on Main Street.
"I am sure that they expect he will flesh out his policy agenda, and if not he will disappear," he said.
Clinton is also adept at diagnosing problems, which is why small-business owners are opting for her in second place, Mozloom said. She has also said she wants to be a "small-business president," touting on a campaign stop in Cedar Falls, Iowa, her own father's experience as a drapery printer .
"I want to be a small-business president, a president who does make it easier to start and run a small business in this country, so it seems less like a gamble and more like an opportunity. We have to level the playing field for our small businesses," Clinton said.
Candidates aside, small businesses also weighed in on their top campaign issues. The biggest concern for nearly 40 percent of respondents was the economy, followed by taxes at close to 21 percent and health care in third with nearly 9 percent.
Despite optimism among America's small businesses slowly ticking higher, Mozloom said these are three consistent issues that resonate with small employers.
Social Democrats KNEW HISTORY and we shouted in the 1990s ------DO NOT ELECT CLINTON NEO-LIBERALS---THEY ARE FAR-RIGHT REAGAN REPUBLICANS PRETENDING TO CARE ABOUT LABOR AND JUSTICE. We knew this because we knew public policy history broadly and WE THE PEOPLE must educate ourselves and our children TODAY----to make sure we are better at battling all this lying, cheating, and stealing. We do not have to become a SOCIOPATH like that 5% to the 1%----we can win by being at the top of our CITIZENSHIP GAME.
This is what PROACTIVE ACTIONS A REAL LEFT LABOR AND JUSTICE ACTIVIST AND GROUP WOULD BE TAKING----we already know the economic crash coming will create a GREAT DEPRESSION just as a century ago. We know Trump will do as a Hoover did----and we know the global Wall Street 1% will then take all that 99% anger at Trump's inaction and send in the NEXT CAPTURED CLOWN.
This will be the FAR-RIGHT LIBERTARIAN MARXISM CLOWN. Remember, today's Congress is captured by global Wall Street having no interest in left social Democracy.....they intend to pose socially progressive by pushing MARXISM-----FAKE COMMUNISM/SOCIALISM----just as Clinton/Obama faked being left social Democrat. FDR was indeed that same US 1% when he came to office after HOOVER. He could have then installed a far-right corporate fascism----or pretended to be that STALIN OR MAO ---but he did a good thing in keeping capitalism but with a SOCIAL DEMOCRATIC POLICY UPLIFTING WE THE PEOPLE.
TODAY'S GLOBAL WALL STREET CAPTURE OF CONGRESS WILL NOT ALLOW THIS----IT WILL BECOME GLOBAL CORPORATE CAMPUS SOCIALISM---OR CORPORATE PLANTATION ENSLAVEMENT TO GLOBAL LABOR POOL POLICIES. GLOBAL WALL STREET WILL PRETEND IT WANTS TO TAKE CARE OF ITS GLOBAL HUMAN CAPITAL
This is what a Maryland Governor Larry Hogan and a Baltimore Mayor PUGH have in store for BLOOMBERG FOREIGN ECONOMIC ZONE 2 NORTH AMERICA formerly Baltimore MD USA.
FDR's terms as President came AFTER all the Robber Baron looting had taken all government and personal wealth so they were finished looting and needed to rebuild some kind of economy. That mirrors what will occur under Trump --this coming sovereign bond debt fraud will take all government and personal wealth and then they will need to rebuild an economy. This time rather than small business economies and strong government oversight and accountability in our public agencies as FDR did---they will install Foreign Economic Zones and global corporate campuses and global factories continuing that LYING, CHEATING, AND STEALING.
The Social Studies Help Center
Social Studies help for American History, Economics and AP Government. There are class notes, numerous Supreme Court case summaries and information on how to write a research paper inside.
What was Franklin Delano Roosevelt's plan to end the Great Depression?
As we have seen the Great Depression had a devastating impact on the American economy and the American people. President Hoover believed, basically, in waiting things out. As result of Hoovers inactivity America turned to a new, dynamic leader: Franklin Delano Roosevelt. Today we will discuss his basic strategy for improving the economy.
I. Franklin Delano Roosevelt
A. Early Years
1. Raised in upper class family in Hyde Park N.Y.
2. Attended Harvard and Colombia
3. Lawyer then active in NY politics
4. 1912 - Assistant Sec. Of Navy
5. 1918 Narrowly won Governorship of NY,
6. 1920 - VP Candidate with James A. Cox
7. 1921 - Contracted Polio, lost use of legs. This deeply effected Roosevelt. Now he truly knew what human suffering was all about. He could identify. He was also a fighter and a winner. He overcame his handicap and this later would inspire Americans during the depression.
8. 1930 Reelected Governor of New York State - His innovative programs gained national attention and were eventually called the Little New Deal - NY Model
9. Ran for Pres. In 1932 - Used song: "Happy Day's Are Here Again." Pledged to America; "I Pledge to you, I pledge myself, to a new deal for the American people!"
B. What did Roosevelt do when he got elected?
1. Inauguration Speech: Told America "We have nothing to fear but fear itself!" He wanted to inspire optimism and hope. He did not want America paralyzed by fear. He was a man of action.
2. Appointed the "Brain Trust" - These were a group of brilliant social, economic and political thinkers who comprised Roosevelt's cabinet. He surrounded himself with the best, not just political allies and supporters.
-Harry Hopkins - Social Worker and the architect of much of the New Deal.
-Frances Perkins - Sec. of Labor and first female in the cabinet.
3. First Hundred Days - For the first hundred days of his administration Roosevelt and his Brain Trust where a whirlwind of activity. Legislation was introduced and passed at a furious pace as Congress mostly acted as a rubber stamp. Roosevelt called Congress into session and asked for executive power to wage war against poverty and pessimism. He said he wanted a power "as great as the power that would be given me if we were in fact invaded by a foreign foe." At first he ordered a bank holiday, which closed every bank in the nation and stopped people from withdrawing all of their money. This ended the panic. He then signed legislation called the Emergency Banking Act. This closed all of the insolvent lending institution and only reopened the solvent ones. While many lost money at least the panic was eased.
B. What was Roosevelt's underlying philosophy?
1. Keynesian or "pump priming" economics. Based on the beliefs of economist John Maynard Keynes it held that money should be invested in the people, the working class. Then spending would increase with new money in circulation. As spending increased it was expected that businesses would expand to meet the new demand and hire new workers. This would spur on more spending and more growth. This plan was the opposite of the Republican plan ascribed to by Hoover and earlier leaders. They had believed in supply side or "trickle down" economics. In this philosophy money was to be invested at top, in business. Then businesses would expand, hire new workers and this in turn would spur on spending and further economic growth.
D. What did Roosevelt mean by relief, recovery and reform?
1. Relief - Immediate action taken to halt the economies deterioration.
2. Recovery - "Pump - Priming" Temporary programs to restart the flow of consumer demand.
3. Reform - Permanent programs to avoid another depression and insure citizens against economic disasters.
Immediate action taken to halt the economies deterioration.
"Pump - Priming" Temporary programs to restart the flow of consumer demand.
Permanent programs to avoid another depression and insure citizens against economic disasters.
Declared so that the panic would be stopped.
Agricultural Adjustment Act (AAA)
Taxed food processors and gave the money directly to farmers as a payment for not growing food. This decreased supply so price would go up.
Securities & Exchange Commission (SEC)
Permanent Agency set up to monitor stock market activity and ensure that no fraud or insider trading was taking place.
Emergency Banking Act
Closed the insolvent banks and only reopened the solvent ones.
National Industrial Recovery Act (NIRA)
Created the NRA (National Recovery Administration) a consortium of businesses organized by the government and given the power to set rules and regulations for the economy. Members of the NRA displayed a blue eagle.
Federal Deposit Insurance Corporation (FDIC)
Permanent Agency designed to insure depositors money in savings banks. Originally insured up to $5,000 per depositor today it has increased to $100,000.
Federal Emergency Relief Act (FERA)
Gave immediate help to those that needed it in the form of cash payments.
Home Owners Loan Corp.
Gave loans to home owners so they could pay their mortgages. This prevented people from going homeless and prevented banks from going under.
Social Security Administration
Permanent agency designed to ensure that the older segment of society always would have enough money to survive. The key here is that they would then also be able to spend throughout their lives.
Civil Works Administration (CWA)
Provided temporary jobs repairing roads and bridges.
Works Progress Administration (WPA)
Provided long term government jobs building schools and other public works projects.
National Labor Relations Act and National Labor Relations Board (NLRA/NLRB)
Otherwise known as the Wagner Act it helped unions and thus helped workers. This acted created the NLRB (National Labor Relations Board) which enforced labor law and made sure that fair business practices where upheld.
Civilian Conservation Corps (CCC)
Temporary jobs to unmarried single adults filling sand bags and helping out at disaster type situations. Participants lived in barracks type housing.
Tennessee Valley Authority (TVA)
Agency created to build dams in the Tennessee river valley. These dams provided more stable irrigation and cheap hydroelectric power.
Soil Conservation Act
Laws mandating proper soil maintenance to make sure that another dust bowl was avoided.
EARLY NEW DEAL MEASURES
FAIR LABOR STANDARDS ACT -- provided minimum wage for workers.
CIVILIAN CONSERVATION CORPS -- provided work for jobless males between 18 & 25 in reforestation, road construction, prevention of forest erosion. Ended in 1941.
AGRICULTURAL ADJUSTMENT ACT -- established principle of government price support for farmers and guaranteed farm purchasing power.
TENNESSEE VALLEY AUTHORITY ACT -- federal construction and ownership of power plants regional development of Tennessee Valley (7 State Area)
FEDERAL SECURITIES ACT -- required full disclosure of information related to new stock issues.
NATIONAL EMPLOYMENT SYSTEM ACT -- created US employment service.
HOME OWNERS REFINANCING ACT -- use of government bonds to guarantee mortgages.
BANKING ACT OF 1933 -- created Federal Deposit Insurance Corp., guaranteeing the safety of bank deposits.
NATIONAL INDUSTRIAL RECOVERY ACT -- minimum wages and self regulation of industry --- ended in 1935.
PUBLIC WORKS ADMINISTRATION -- appropriated funds to construct roads and other federal projects.
SECURITY AND EXCHANGE ACT -- federal regulation of the operation of stock exchange.
NATIONAL HOUSING ACT -- federal housing administration insured loans of private banks and trust companies for construction of homes.
COMMUNICATIONS ACT -- federal housing administration insured loans of private banks and trust companies for construction of homes.
HOME OWNERS LOAN ACT -- government financing of home mortgages.
NATIONAL HOUSING ACT -- construction of low cost public housing and slum clearance.
SOIL CONSERVATION ACT -- established federal soil conservation services.
RESETTLEMENT ADMINISTRATION -- built new model communities for low income city workers
RURAL ELECTRIFICATION ADMINISTRATION -- created and administered program of bringing electricity to rural areas.
NATIONAL YOUTH ADMINISTRATION -- federal work relief and employment for young people.
NATIONAL LABOR RELATIONS ACT -- encouraged collective bargaining and formation of unions to be supervised by the National Labor Relations Board.
SOCIAL SECURITY ACT -- created Social Security System -- old age and survivors insurance; aid to dependent children etc.
We discussed at length how the Roosevelt Institute---the Aspen Institute are both pretending to be FDR left groups when they are the same global Wall Street far-right ONE WORLD ONE GOVERANCE----pretending to install all these real left programs of FDR when they are simply global Foreign Economic Zone policies.
Below we see what far-right global Wall Street has sold these few decades as FDR and MLK left social progressive education when in fact it was always about staging the next massive fraud of yet another Federal agency. The Clinton's set the stage for the frauds in both higher for-profit education AND started this K-12 privatization charter structure and VOILA-----Obama allows the frauds to go wild. Here in Baltimore that would be our O'Malley/Dixon/Rawlings-Blake----with PUGH having been that for-profit higher education STRATFORD UNIVERSITY. Now, PUGH will oversee MOVING FORWARD with global corporate K-12 charter schools and watch as they fill with fraud.
Connecting the Dots
Charter Schools Gone Wild: Study Finds Widespread Fraud, Mismanagement and Waste
May 5, 2014
by Joshua Holland
Students in a kindergarten classroom at North Valley Academy in Gooding, Idaho, wear red, white and blue shirts as part of their school uniform. The K-12 charter school is the first in Idaho to advertise itself as a patriotic choice for parents, with an emphasis on individual freedoms and free-market capitalism. (AP Photo/Jessie L. Bonner)
Charter school operators want to have it both ways. When they’re answering critics of school privatization, they say charter schools are public — they use public funds and provide students with a tuition-free education. But when it comes to transparency, they insist they have the same rights to privacy as any other private enterprise.
But a report released Monday by Integrity in Education and the Center for Popular Democracy — two groups that oppose school privatization -- presents evidence that inadequate oversight of the charter school industry hurts both kids and taxpayers.
Sabrina Joy Stevens, executive director of Integrity in Education, told BillMoyers.com, “Our report shows that over $100 million has been lost to fraud and abuse in the charter industry, because there is virtually no proactive oversight system in place to thwart unscrupulous or incompetent charter operators before they cheat the public.” The actual amount of fraud and abuse the report uncovered totaled $136 million, and that was just in the 15 states they studied.
Diane Ravitch on school privatization.
According to the study, fraud and mismanagement of charter schools fall into six categories:
- Charter operators using public funds illegally — outright embezzlement
- Using tax dollars to illegally support other, non-educational businesses
- Mismanagement that put children in potential danger
- Charters illegally taking public dollars for services they didn’t provide
- Charter operators inflating their enrollment numbers to boost revenues
- General mismanagement of public funds
The report looks at problems in each of the 15 states it covers, with dozens of case studies. In some instances, charter operators used tax dollars to prop up side businesses like restaurants and health food stores — even a failing apartment complex.
The report’s authors note that, “where there is little oversight, and lots of public dollars available, there are incentives for ethically challenged charter operators to charge for services that were never provided.” They cite the example of the Cato School of Reason Charter School in California, which, despite its libertarian name, collected millions of tax dollars by registering students who actually attended private schools in the area.
Perhaps the most troubling examples of mismanagement were those the report says actually put kids in danger:
Many of the cases involved charter schools neglecting to ensure a safe environment for their students. For example, Ohio’s State Superintendent of Public Instruction, Dr. Richard A. Ross, was forced to shut down two charter schools, The Talented Tenth Leadership Academy for Boys Charter School and The Talented Tenth Leadership Academy for Girls Charter School, because, according to Ross, “They did not ensure the safety of the students, they did not adequately feed the students, they did not accurately track the students and they were not educating the students well. It is unacceptable and intolerable that a sponsor and school would do such a poor job. It is an educational travesty.”
Integrity in Education and the Center for Popular Democracy aren’t the first to warn of problems plaguing an under-regulated industry fueled by billions of tax dollars. A 2010 report to Congress by the Department of Education’s Inspector General’s office warned of the agency’s “concern about vulnerabilities in the oversight of charter schools” in light of “a steady increase in the number of charter school complaints.” It blamed regulators’ failure “to provide adequate oversight needed to ensure that Federal funds [were] properly used and accounted for.”
Read the full report for the watchdogs’ recommendations for how policymakers could strengthen oversight and bring real transparency to the charter school industry.
'An investigation on behalf of investors in Strayer Education, Inc. (NASDAQ:STRA) concerning possible federal securities laws by issuing false and misleading statements to its shareholders was announced'.
STRAYER UNIVERSITY like other private for-profit universities were used to funnel fraudulent student funds by the billions of dollars by Wall Street Baltimore Development Corporation 'labor and justice' organizations tasked with recruiting from low-income communities citizens just to sign up to move Federal funding to that for-profit higher education school. This was the same method of getting the poor signed up for subprime mortgage loans----never any intent of housing or educating these folks---just getting them to soak our Federal agencies with fraud.
STRAYER was once a good higher education school until the CLINTON/BUSH/OBAMA Robber Baron decades-----just so happens our Mayor of Baltimore Catherine PUGH was President of our local STRAYER during this time. Baltimore was tops in these massive frauds of our Federal agencies. Where did all that fraud go? Not to the schools---it was likely funnelled to the same global expansion of the same few instititutions-----like Johns Hopkins.
This was the Robber Baron period of CLINTON/BUSH/OBAMA and the same thing occurred a century ago during the 1920s Wall Street frauds leading to GREAT DEPRESSION. Here we have that Washington DC beltway connection to all these frauds------tied often with northern CALIFORNIA----San Fran region----from mortgage loan origination and MERS----to for-profit higher education---and now they are heading to global corporate K-12 charter frauds to expand brands across US Foreign Economic Zones.
This was the ROARING---in ROARING 20s -------
If we had a functioning US Justice or Maryland Attorney General's office-----all that fraud would have been discovered and most of these Wall Street players in jail-----Gansler/Frosh-------Elizabeth Embry/Marilyn Mosby----SEE NO EVIL.
Strayer University & Education Fraud
Posted on November 20, 2013 by Rasansky Law Firm
Are you worried that you’ve been misled, lied to, or scammed by Strayer University?
Strayer University enrolls approximately 38,000 students through their online learning programs, and at their 100 campuses located throughout 24 states. Strayer University was founded in 1892 as Strayer’s Business College, then later changed to Strayer College, and then finally became Strayer University after being granted its university status. Although Strayer University used to be quite popular, in October 2013, Strayer announced that they would be closing 20 of their campus locations due to a massive drop in new enrollment rate.
Even though Strayer University is more expensive than many other universities, there are still accreditation issues (they are currently not accredited by either AACSB or ABET). Some have said that it can be extremely hard to transfer in credits from Strayer to other colleges and or universities because of these accreditation issues. Certain programs even prohibit people with degrees from Strayer University from working at their programs.
Bottom line is, if you’re a student or alum of Stayer University, and you feel you have been taken advantage of by them, we may be able to help you. We can help with claims of inflated job placement stats, fraudulent/misleading financial aid practices, false claims of accreditation, false claims of credit transferability, misrepresentation of costs, false claims of probably salary upon graduation, and overall misrepresentation of the quality and value of the education provided.
If you believe you may have a case against Strayer University, email us using the contact form on this page. While we may not be able to help with every case, we’re happy to evaluate the facts of your case for no charge.
Strayer Education, Inc. Under Investor Investigation
If you are an investor in Strayer Education, Inc. (NASDAQ:STRA) shares, and/or have information relating the investigation, you have certain options and you should contact the Shareholders Foundation, Inc.
To have your information reviewed for options and to recieve notifications about this investigation, please use this form. You may also send an email to firstname.lastname@example.org, or call us at (858) 779-1554.
An investigation on behalf of investors in Strayer Education, Inc. (NASDAQ:STRA) concerning possible federal securities laws by issuing false and misleading statements to its shareholders was announced.
Strayer Education, Inc., located in Arlington, VA, is a post-secondary education services corporation. Strayer Education offers a range of academic programs through its wholly owned subsidiary Strayer University, Inc., both in classroom courses and online via the Internet.
On August 4, 2010, the Senate Health, Education, Labor, and Pensions Committee conducted a hearing on for-profit education firms, where Government Accountability Office representative, George Kutz, presented the findings of report GAO-10-948T, "For-Profit Colleges: Undercover Testing Finds Colleges Encouraged Fraud in Deceptive and Questionable Marketing Practices." The report detailed undercover investigations into 15 for-profit schools that uncovered misconduct by school staff. According to this GAO study, the college personnel at schools may have encouraged applicants to falsify their financial aid forms to qualify for federal aid and pressured applicants to sign a contract for enrollment prior to allowing them to speak to a financial advisor. The investigation by a law firm on behalf of investors in STRA shares concerns whether also Strayer Education has violated federal securities laws by issuing false and misleading statements to its shareholder in connection with the report by the U. S. Government Accountability Office.
Strayer Educations’ revenue almost doubled within the past four years. Strayer Education reported in 2006 Total Revenue of $263.65million, in 2007 $318.01million, in 2007 $396.27million, and in 2009 $511.96million. Its Net Income went from $52.31million in 2006 to $105.08 in 2009.
Shares of Strayer Education, Inc. (STRA) traded in 2006 closely above $100 and doubled within the past four years to over $250 per share in April and June 2010. But STRA shares lost substantially in value in the beginning of 2009 from almost $230 per share in January to under $160 per share in March 2009. Eventually STRA shares regained value to its current 52weekHigh of $262.44 per share before substantially in the past weeks. Alone from closing on Friday August 13, 2010 to closing on Monday August 16, 2010 STRA shares lost almost $40 per share. STRA shares recently traded at more than $100 below its 52weekHigh or at $155.65 per share.
US cities as Foreign Economic Zones will operate independent of any US, state, or local sovereignty issues so total deregulation at the Federal level has already occurred in these US cities like Baltimore. Trump is simply POSING CONSERVATIVE by shouting against all regulation. Deregulating killed oversight and accountability by the public and it will now expand to all industries. How did Japan nuclear accident occur a decade ago----absolutely no nuclear energy regulation or oversight and accountability.
CLINTON/OBAMA PRETENDED to protect labor laws----they even pushed a women worker's wage equity at the same time they knew all labor laws were to be thrown away in US Foreign Economic Zone and Trans Pacific Trade Pact policy installation. This was POSING PROGRESSIVE by those Clinton neo-liberals.
Trump will MOVE FORWARD US LOOKING LIKE FOREIGN ECONOMIC ZONES OVERSEAS......total deregulation---no taxation----global labor pool with no rights or protections being rotated through different Foreign Economic Zones globally. The difference---now US citizens get to join those conditions. Hillary would have done the same as Clintons took our labor unions down----but we knew Trump would be installed because global Wall Street needs to PRETEND TO HAVE A GOOD COP----THE CLINTON/OBAMA NEO-LIBERALS VS THE BAD COP---THOSE BUSH/TRUMPS. Same Robber Baron POLITICAL PARTY.
'Aside from the Congressional Review Act, there’s a larger threat looming. Trump has vowed to cut federal regulations overall by 70 percent, and that would mean eliminating thousands of other regulations that pertain to education, pharmaceuticals, consumer safety, aviation, banking, mining, nuclear power, workplace safety, clean air and water, the use of public lands and virtually every aspect of American life'.
Maryland Governor Hogan and Baltimore Mayor PUGH----two with long histories of global Wall Street 1% policies----will MOVE FORWARD ALL THAT A TRUMP HAS TO SAY.
The same low-level Wall Street players during CLINTON/BUSH/OBAMA are now being allowed to gain executive positions and appointments.
Clinton/Obama ended all FDR New Deal and MLK War on Poverty and deregulated and small government because THEY ARE FAR-RIGHT WING NEO-LIBERAL ECONOMICS.....same as Trump.
Editorial: Trump and the GOP rush toward deregulation
The Register's Editorial 5:03 p.m. CST November 26, 2016
Buy Photo(Photo: Mark Marturello/Register Illustration)
President-elect Donald Trump is turning back the hands of time.
He says his main priority when he takes office Jan. 20 will be to roll back the policies, laws, regulations and executive orders approved by President Barack Obama during the past eight years, turning the Oval Office into his own version of the Wayback Machine.
It’s not exactly a forward-looking agenda, but from Trump's perspective it can be legitimately characterized as a course correction — an attempt to undo the damage wrought by the Obama administration.
The trouble is that many of the regulations and policies Trump has attacked were crafted through years of consensus building and bipartisan cooperation — and they can be wiped out within days, if not hours, of Trump taking office. To make matters worse, some of these regulations can be eliminated in a manner that makes it impossible for federal agencies to reinstate them, regardless of any unintended consequences.
The risk is real. Members of Congress are already working on legislation that would enable them to cancel regulations through a wholesale approach, eliminating the need for each change to be evaluated on its own merits and then voted upon individually. It’s a process that quite literally does away with any opportunity for thoughtful deliberation.
As for Trump, he freely acknowledges that he’s a big-picture guy and doesn’t like to get bogged down in the minutia of how things work. That’s a justifiable approach to governing, but it will succeed only if his advisers and strategists are experienced, capable and fully immersed in the details.
On that score, Trump’s cabinet and staff selections have been uninspiring, to say the least. He’s clearly not looking for the best and brightest and is instead looking for the most servile and sycophantic. Loyalty is prized over ability.
And thanks to Trump’s oft-stated promise to begin issuing far-reaching orders within 60 minutes of taking office, there will be no learning curve for his staff and no "getting up to speed" on the issues.
Some of this is encouraged by a fairly obscure federal law called the Congressional Review Act, a law that enables Congress to override federal regulations as long as it acts within 60 legislative days of the regulation's initial approval. Because Congress takes so many breaks, as many as 180 regulations approved as far back as mid-May are now considered vulnerable once Trump takes office.
Among them is a rule that will require employers to pay overtime to millions of workers who earn less than $47,476 a year while working more than 40 hours per week. (Last week, a federal judge blocked the rule from taking effect.) Also at risk are rules that requires federal contractors to provide their workers with paid sick leave; regulations to reduce greenhouse-gas emissions from commercial trucks and buses; consumer protections on debit cards and payday loans; and a rule that prohibits nursing homes from forcing residents to resolve disputes through private arbitration. In previous editorials we've pointed out why these rules are important to protect Iowans.
A provision in the Congressional Review Act says once a regulation is eliminated through this process, it cannot be re-approved at a later date, regardless of any unintended consequences. So, for the newly elected president, there will be no room for error.
Aside from the Congressional Review Act, there’s a larger threat looming. Trump has vowed to cut federal regulations overall by 70 percent, and that would mean eliminating thousands of other regulations that pertain to education, pharmaceuticals, consumer safety, aviation, banking, mining, nuclear power, workplace safety, clean air and water, the use of public lands and virtually every aspect of American life.
There’s no indication Trump has given much thought to any of this. Consider the video released last week in which the president-elect inexplicably doubled-down on his promise to "reopen the coal mines" and create new jobs. "You're going to be working your asses off," he told cheering supporters In West Virginia. In the new video, Trump again promises to "cancel job-killing restrictions on the production of American energy" in order to create "many millions of high-paying jobs.”
The reality is, there are 174,000 full-time American jobs directly related to coal. Deregulating the industry will make coal cheaper to produce, but it won’t increase product demand or generate new jobs. Free-market forces, not regulation, are responsible for the decline of coal production, and no amount of deregulation can change that. Even the president of the Kentucky Coal Association agrees there is little Trump can do to bring back jobs.
The fact that Trump and his advisers still don’t understand that is alarming, but to be expected. Last May, a full year into Trump’s campaign for the presidency, Politico quoted a campaign insider as saying Trump didn’t want to “waste time on policy,” adding, “It won’t be until after he is elected … that he will figure out exactly what he is going to do.”
In June, Trump himself defended the vague nature of his campaign promises by observing — correctly, as it turned out — that “the public doesn’t care” about policy. When asked who was advising him on matters of foreign policy, he said, “I am speaking with myself, number one, because I have a very good brain.” As for military advice, he said, “Well, I watch the shows.” When it comes to keeping abreast of current events, he has told supporters, “Forget the press, read the internet.”
This doesn’t bode well for informed decision-making.
Regardless of one’s politics, there should be some recognition that the president of the United States, as our commander in chief and the leader of the free world, ought to be a thoughtful and reasonably well-informed individual.
But Trump seems convinced that all the public demands of him is the mere appearance of competence — and, unfortunately, he could be right. “At some point I’ll be so presidential that you people will be so bored,” he said in April. “I’ll come back as a presidential person … and they’ll say, 'Boy, he really looks presidential.' ”
At this point, we can only hope.
IT IS STILL NOT TOO LATE-----THIS COMING DECADE OF PUSHING AUSTERITY---DISMANTLING ALL THAT IS PUBLIC NEEDS TO BE MET WITH ROLLING PROTEST TO GET RID OF WALL STREET PLAYERS.
We know CLINTON/BUSH/OBAMA Robber Baron Presidents occurred because of widespread election fraud----just as occurs in developing nations like Mexico. What WE THE PEOPLE can learn from all this is how the political ASYMMETRIC WARFARE by the global 1% and their 2% is played. We should have been out en masse in the 1990s---rolling protests to topple these Wall Street players stealing our elections----we certainly should have during this 2016 Democratic primary win by Bernie Sanders taken by fraud yet again by Hillary. This is what social Democrats meant when they said NOW---PEOPLE ARE PROTESTING TRUMP----TRUMP? This amazing transfer of tens of trillions of dollars off-shored overseas these few decades literally sends America to colonial status----THAT WAS SOMETHING TO PROTEST.
'He also reappointed Ayn Rand-acolyte Alan Greenspan, who has as much responsibility as anyone for creating the crisis, as Fed chairman—twice'.
We simply need conservative Democrats and Republican voters always tying to Chamber of Commerce to PLEASE STOP DOING THAT. BUSINESS WILL ALWAYS END AS EXTREME WEALTH AND GLOBAL CORPORATE POWER IF LEFT TO ITS OWN DOINGS.
There will always only be a 1% and their 2% winners----it is not worth selling a child or grandchild's future for living high on the hog for a few decades.
Bill Clinton on deregulation: ‘The Republicans made me do it!’
The ex-president seriously mischaracterizes his recordBy Ryan ChittumOctober 1, 2013 1045 words
Bill Clinton sat down with Fareed Zakaria last week on CNN for a typically wide-ranging interview that touched on chemical weapons, big data and privacy, whether Chelsea Clinton should run for office, etc.
You know, the usual Bill Clinton interview. But Clinton’s comment about his record on regulation is an actual newsmaker, because it’s a giant whopper:
What happened? The American people gave the Congress to a group of very conservative Republicans. When they passed bills with the veto proof majority with a lot of Democrats voting for it, that I couldn’t stop, all of a sudden we turn out to be maniacal deregulators. I mean, come on. I know Senator Warren said the other day, admitted when she introduced a bill to reinstate the division between commercial and investment banks, she admitted that the repeal of Glass-Steagall did not cause one single solitary financial institution to fail.This is, to be kind, bullshit. Memory is a hazy thing, but I have a hard time believing Clinton doesn’t know full well he’s not telling the truth here (and with his record, he doesn’t get the benefit of the doubt).
Let’s go to the tape. Clinton installed Robert Rubin and Larry Summers in the Treasury, which resulted in the Gramm-Leach-Bliley Act, which officially did in Glass-Steagall and the Commodity Futures Modernization Act, which left the derivatives market a laissez-faire Wild West (not to mention a disastrous strong dollar policy that was a critical and underrated factor in the bubble). He also reappointed Ayn Rand-acolyte Alan Greenspan, who has as much responsibility as anyone for creating the crisis, as Fed chairman—twice.
Now it’s true that Clinton faced an extremely hostile Republican Congress for the last six years of his presidency. But his administration actively encouraged the big deregulatory legislation, and squashed its own dissenters, like Brooksley Born, who saw disaster ahead.
Clinton would have you believe that he signed those bills because his administration was forced to by a GOP that was beholden as usual to Big Business, but then what about the deregulatory legislation he signed in 1994, before Gingrich & Co. took Congress?
Riegle-Neal hasn’t got a tenth of the press that the CMFA and Gramm-Leach-Bliley have, but it was a milestone in the creation of Too Big to Fail, allowing banks to cross state lines, effectively gutting state regulation of banking. The Christian Science Monitor that year quoted a Wall Street analyst saying that, “‘It also didn’t hurt that NationsBank president Hugh McColl has a working relationship with President Clinton or that the comptroller of the currency, Eugene Ludwig, was a successful lawyer at Covington & Burling and NationsBank had been a major client.’” Hugh McColl gave us Bank of America.
From across the pond, The Independent wrote in a piece that was prescient in more ways than one:
“In effect, Congress has said let the merger mania begin. There is virtual consensus that the legislation will allow both the big US banks and their foreign rivals in America - British banks among them - to grow much bigger.Nor was that the only thing the banks got that year. The American Banking Association wrote about Riegle-Neal, the Bankruptcy Reform Act of 1994, and the Community Banking Development Act that “the 103rd will be remembered as the first Congress in recent memory to pass “clean” pro-banking legislation.”
Clinton, on signing Riegle-Neal, praised McColl and the head of Chase Manhattan, and said, ” It represents another example of our intent to reinvent Government by making it less regulatory and less overreaching and by shrinking it where it ought to be shrunk and reshaping it where it ought to be reshaped.”
Again, this was before the Republicans took over Congress.
In 1999, on signing Gramm-Leach-Bliley into law, Clinton said, “This is a day we can celebrate as an American day” and that ” the Glass-Steagall law is no longer appropriate for the economy in which we live” and “today what we are doing is modernizing the financial services industry, tearing down these antiquated laws and granting banks significant new authority” and “This is a very good day for the United States.”
His Treasury Department pushed for the Commodity Futures Modernization Act after squashing Brooksley Born’s fervent attempts to have her Commodity Futures Trading Commission regulate derivatives.
The bottom line is: Bill Clinton was responsible for more damaging financial deregulation—and thus, for the financial crisis— than any other president. He may want to rewrite history to protect his wife’s 2016 presidential hopes, but the press shouldn’t let him.
But we’re off to a bad start there. Zakaria didn’t call Clinton out. Nor did The New York Times, which flagged Clinton’s CNN quote in a piece on Elizabeth Warren, but simply said Clinton “defended his administration’s approach to bank regulation” and left it at that.
When someone’s spouting obvious and provable falsehoods, you have got to call that out, even if it’s in quote marks.
This was no one-off comment, either. Charles Ferguson, director of the phenomenal “Inside Job” documentary, writes this in a column on why he canceled his planned documentary of Hillary Clinton:
In June, I attended a dinner for Bill Clinton, which was educational. Clinton spoke passionately about his foundation, about African wildlife, inequality, childhood obesity, and much else with enormous factual command, emotion, and rhetorical power. But he and I also spoke privately. I asked him about the financial crisis. He paused and then became even more soulful, thoughtful, passionate, and articulate. And then he proceeded to tell me the most amazing lies I’ve heard in quite a while.
For example, Mr. Clinton sorrowfully lamented his inability to stop the Commodity Futures Modernization Act, which banned all regulation of private (OTC) derivatives trading, and thereby greatly worsened the crisis. Mr. Clinton said that he and Larry Summers had argued with Alan Greenspan, but couldn’t budge him, and then Congress passed the law by a veto-proof supermajority, tying his hands. Well, actually, the reason that the law passed by that overwhelming margin was because of the Clinton Administration’s strong advocacy, including Congressional testimony by Larry Summers and harsh public and private attacks on advocates of regulation by Summers and Robert Rubin.