Bailout of Big Banks Dwarfs TARP:The Occupy Wallstreet Facts

The Federal Reserve gave banks a much larger bailout than the infamous TARP. A Bloomberg report with the details is broken down by Cenk Uygur of The Young Turks. Cenk also explains the relevance to the Occupy Wall Street movement.
Auger8says...

Lobbying should be made illegal in my opinion. Money and politics shouldn't mix, it's worse than inbreeding. It just creates a corrupt, deformed, defect ridden system.
I've said this before on other sites but if they limited the salaries of politicians to no more than 20k a year with random audits of gifts and property to prevent bribes the world would be a better and more compassionate place to live in.

Sagemindsays...

@Auger8
I agree that lobbying should be illegal!

But I think your salary cap is a bit low. I'm assuming by 20k, you mean $20,000.
That's low by any standards. You'd never attract anyone with any intelligence for that kind of paycheck. "The current salary (2011) for rank-and-file members of the House and Senate is $174,000 per year." I can agree to a pay scale between 100-200k. And with a limit as to what expenses can be claimed on the office expense account (eg. nothing for personal use, caps on meal claims.)

I do as well, however, agree to the auditing. Any monies gained above and beyond that must be proven as legitimate while living expenses and assets must not exceed their incomes.

Auger8says...

The reason I say 20,000 a year is for one that's what a lot of the average blue collar workers earn. And two it would eliminate people who only get into politics for the money.

>> ^Sagemind:

@Auger8
I agree that lobbying should be illegal!
But I think your salary cap is a bit low. I'm assuming by 20k, you mean $20,000.
That's low by any standards. You'd never attract anyone with any intelligence for that kind of paycheck. "The current salary (2011) for rank-and-file members of the House and Senate is $174,000 per year." I can agree to a pay scale between 100-200k. And with a limit as to what expenses can be claimed on the office expense account (eg. nothing for personal use, caps on meal claims.)
I do as well, however, agree to the auditing. Any monies gained above and beyond that must be proven as legitimate while living expenses and assets must not exceed their incomes.

Boise_Libsays...

@Auger8 @Sagemind

Lobbying is a good thing.

Many years ago I was a member of a successful, grassroots organization which hired a full time lobbyist to talk to state legislators.
[Edit--he was one of us--not an insider]
Lobbying is not inherently evil.
What is needed is to enforce the existing laws against bribing public officials and re-enact the laws against immoral campaign contributions BRIBES.
Getting rid of Super-PAC's would be an excellent start.

I also really like the Canadian laws against paid political commercials.

Kallesays...

I would go so far as to not pay politicians at all if they have another income...and if they dont.... pay them the nationwide average + expenses for travelling a.s.o.

Keeps greedy people out and people with an interest in politics and connections in...

At last the power that comes with the job is a salary in itself..

Auger8says...

I'm sure the system can be fixed but as it is now it just seems like lobbying breeds corruption.

>> ^Boise_Lib:

@Auger8 @Sagemind
Lobbying is a good thing.
Many years ago I was a member of a successful, grassroots organization which hired a full time lobbyist to talk to state legislators.
Lobbying is not inherently evil.
What is needed is to enforce the existing laws against bribing public officials and re-enact the laws against immoral campaign contributions BRIBES.
Getting rid of Super-PAC's would be an excellent start.
I also really like the Canadian laws against paid political commercials.

Boise_Libsays...

>> ^Auger8:

I'm sure the system can be fixed but as it is now it just seems like lobbying breeds corruption.
>> ^Boise_Lib:
@Auger8 @Sagemind
Lobbying is a good thing.
Many years ago I was a member of a successful, grassroots organization which hired a full time lobbyist to talk to state legislators.
Lobbying is not inherently evil.
What is needed is to enforce the existing laws against bribing public officials and re-enact the laws against immoral campaign contributions BRIBES.
Getting rid of Super-PAC's would be an excellent start.
I also really like the Canadian laws against paid political commercials.



Sure, the big money lobbyists are the problem now--because they get away with bribery. Enforce the existing laws--re-enact the laws which were repealed (by lawmakers bought and paid for)--and nail shut the revolving door for congresspeople and staff who move to lobbying positions (Gingrich and Dodd).

But, If lobbying itself is gone how will you be able to talk to your representatives? By email?

The system--as it stands now--is a heaping pile of festering shit. Many people need to go to jail over it. But, that doesn't mean the good parts of the system (which have been captured by the Industrial/Military/Bank/Corporation complex) should be completely scrapped--just fixed.

It won't be easy--but it can be done.

Auger8says...

I completely agree with you there. We can only hope it happens sooner rather than later.


>> ^Boise_Lib:

>> ^Auger8:
I'm sure the system can be fixed but as it is now it just seems like lobbying breeds corruption.
>> ^Boise_Lib:
@Auger8 @Sagemind
Lobbying is a good thing.
Many years ago I was a member of a successful, grassroots organization which hired a full time lobbyist to talk to state legislators.
Lobbying is not inherently evil.
What is needed is to enforce the existing laws against bribing public officials and re-enact the laws against immoral campaign contributions BRIBES.
Getting rid of Super-PAC's would be an excellent start.
I also really like the Canadian laws against paid political commercials.


It won't be easy--but it can be done.

gharksays...

>> ^Auger8:

Lobbying should be made illegal in my opinion. Money and politics shouldn't mix, it's worse than inbreeding. It just creates a corrupt, deformed, defect ridden system.
I've said this before on other sites but if they limited the salaries of politicians to no more than 20k a year with random audits of gifts and property to prevent bribes the world would be a better and more compassionate place to live in.


Completely agree

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