Send a Tweet
Most Popular Choices
Share on Facebook Share on Twitter 1 Printer Friendly Page More Sharing
OpEdNews Op Eds    H2'ed 5/13/10

A Toxic Naked Swap

By       (Page 1 of 1 pages)     (# of views)   7 comments
Author 1486
Message Thom Hartmann
Become a Fan
  (133 fans)
- Advertisement -
On the Senate floor, Sen. Byron Dorgan (D-ND) lashed out at his own party for its financial reform bill, saying that if they don't fix the "too big to fail" provisions and better regulate credit default swaps, "then shame on us. We have a responsibility here. We cannot claim ever that we have done something about this system."

Sen. Dorgan (D-ND) is offering an amendment to ban naked credit default swaps, a practice that for centuries was illegal and is now being used to destroy the American economy and, as we speak, to attack the country of Greece while making a few cool billion for a handful of hedge fund managers who then, because of the Bush tax cuts, pay a maximum 15% income tax and no social security tax on the money they take.

Dorgan's problem is that because of a series of very, very toxic Supreme Court decisions - going back a century but particularly over the past four decades - corporations now own nearly ever member of Congress except those from small states (like Dorgan's or Bernie Sanders' Vermont) where it's still possible to run for office inexpensively.

The UK just had an election and not one single TV ad was allowed to be run in the campaign. Every single vote was recorded on paper - not a single Diebold machine. We have a long way to go to reclaim democracy here in America - but let's get started.

- Advertisement -

 

- Advertisement -

Well Said 1   Interesting 1   Valuable 1  
Rate It | View Ratings

Thom Hartmann Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

Thom Hartmann is a Project Censored Award-winning New York Times best-selling author, and host of a nationally syndicated daily progressive talk program on the Air America Radio Network, live noon-3 PM ET. www.thomhartmann.com His most recent books are "The Last Hours of Ancient Sunlight," "Unequal Protection: The Rise of Corporate Dominance and the Theft of Human Rights," "We The People," "What Would Jefferson Do?," "Screwed: The Undeclared War (more...)
 
Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Writers Guidelines
Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

STAY IN THE KNOW
If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEdNews Newsletter
Name
Email
   (Opens new browser window)
 

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

S&P Blames Republicans, Mainstream Media Fails to Report It

Globalization Is Killing The Globe: Return to Local Economies

The Great Tax Con Job

The Uncanny, Frightening Ways That Trump's America Mirrors Hitler's Germany

The Truth about the Trust Fund-- Destroying Social Security to Destroy the Two Party System

The Deciding Moment: The Theft of Human Right