Happy Birthday, Molly Ivins (you were right)

In 1998, the late, brilliant Molly Ivins warned against passage of the Financial Services Modernization Act, predicting that massive financial institutions (like AIG) might take on excessive risk and require taxpayer bailouts:

"Watch the House pass a bad bill. Watch the Senate make it worse. Watch the banking industry dig its own grave. Watch supposedly smart people set up a financial disaster. Can we see President Clinton veto this mess? Veto, Clinton, veto.

"Not since Congress passed the Garn-St. Germain bill in 1981 – the one that deregulated the S&Ls and unleashed a half-a-trillion-dollar disaster, which the taxpayers of this country wound up paying for – has there been a move to match this for pure folly.

"In May, the House passed (by one vote) a bill to eliminate barriers between banks, brokerage firms and insurance companies. This sets up financial holding companies that can offer all three types of services simultaneously. The most obvious risk is that a blunder in the insurance or brokerage end of the business could bring down a bank, putting insured deposits at risk. The taxpayers, of course, then wind up with the tab, as we did with the savings-and-loan mess."

Mark Leibovich on America's Gilded Capital | Bill Moyers

This Town by Mark Leibovich is the story of how Washington became an occupied city, its hold on reality distorted by greed and ambition. Leibovich pulls no punches, naming names and revealing the city’s bipartisan lust for power, cash and notoriety.

Johnny Winter And - It's My Own Fault

'Live Johnny Winter And' is a 1971 album recorded live at various locations during the fall of 1970.

David Sirota interviews Alex Gibney on Wikileaks and the war on whistleblowers | Current

David Sirota on Jeff Bezos and the Citizen Kane-ification of newspapers

6 August 2013 | Current.com
David Sirota interviews Pulitzer Prize winning reporter David Cay Johnston about Amazon CEO Jeff Bezos purchasing the Washington Post.

Media silent as State of Texas defends constitutionality of racial discrimination

11 August 2013 | NewsCorpse.com

Excerpt:

The argument by the state of Texas is that they are deliberately discriminating against Democratic voters, not minorities or other protected classes of citizens, and they regard that as permissible. The first problem with their argument is that it is questionable to assert that it is constitutional to “make partisan districting decisions.” Any overt attempt to suppress the voting rights of any citizen is challengeable and potentially in violation of civil liberties.

More to the point, the claim that they are only aiming their discriminatory activities at Democrats is disingenuous and unsupportable. The redistricting maps proposed by the Republican-controlled Texas legislature cut obviously across racial boundaries. The clear intent is to segregate blacks and Latinos into the fewest number of districts possible, denying them equal representation. These maps were struck down by federal courts as blatantly discriminatory, but now the state can re-introduce them with the blessing of an atrociously reasoned Supreme Court decision.

There is simply no way to pretend that the statement made in the filing defending the constitutionality of discrimination against Democrats is anything other than a defense of discrimination against minority communities in Texas. Given the demographic breakdown of the district mapping, it is absurd and grossly dishonest to assert that the “effects on minority voters” are “incidental.” What the state of Texas is doing is racism, pure and simple.

So where is the media coverage of this outrageous admission made in an official court document? None of the television news networks has reported on it. None of the major national newspapers has published a story about it. A few Internet news outlets have done some commendable reporting on it, but their reach is minimal at this point.

READ IT ALL:

Richard Wolff on fighting for economic justice and fair wages | Bill Moyers

February 22, 2013

Economist Richard Wolff joins Bill to shine light on the disaster left behind in capitalism’s wake, and to discuss the fight for economic justice, including a fair minimum wage.

Lightnin' Hopkins - Last Night (1960)

Texas State Senator Wendy Davis Remarks | National Press Club

Aug 5, 2013 - Every Texan should listen to her speech. Ms. Davis’ life story, empathy, and actions make her that amalgam of knowledge, empathy, and experience needed to lead Texas at this time in our history.

 

READ MORE HERE:

John Oliver's takedown of Fox News' absurd arguments against raising the minimum wage

John Oliver lays bare the ignorance, mean-spiritedness, and unabashed greed of those who argue against raising the minimum wage.

President John F. Kennedy in 1962 on the need for Medicare

 This video is a short clip from a speech given in 1962 by President Kennedy, at a huge public rally in support of his proposal, later known as Medicare, to provide health care insurance for the elderly, as part of the Social Security system. Here, the President explains the need for the Medicare program, and also defends it against false attacks by opponents. Medicare was not enacted into law until 1965, during the term of President Lyndon Johnson, approximately two years after the assassination of John F. Kennedy in 1963. The arguments made by President Kennedy are also pretty good reasons why our country should have a program of universal health care, by expanding Medicare to cover all citizens of all ages.