October 15, 2012

Beneath the Etch a Sketch: 5 Signs That Romney’s Real Ideology is Crony Capitalism

Is Mitt Romney “severely conservative,” as he put it during the primary season, or is he instead the semi-compassionate moderate he has portrayed since the first debate? It’s the question pundits keep asking, and of course it’s important to his political strategy and the outcome of the election. But to understand how Romney would actually govern as president, this dichotomy obscures a critical point.

If you look beyond Romney’s stump remarks — dig beneath the Etch A Sketch — to the structure of his campaign and the details of his policy proposals, it appears that Romney’s true ideology is not small-government conservatism, or …

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August 2, 2012

Wall Street Pursues Image Rehab

The Partnership for a Secure Financial Future is working on image rehab for the financial industry.

They released a lovely video that features a slew of financial services employees talking about how they help their community and why they like their jobs.The Partnership is supported by the Consumer Bankers Association, Mortgage Bankers AssociationFinancial Services Institute, and The Financial Services Roundtable.

Directly next in line to this video is a written report commending themselves for their “industry initiative” for “these dramatic improvements” in banking.  It then calls for a re-examination of the Dodd-Frank, “provisions and combination of provisions that needlessly …

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May 21, 2012

Cory Booker’s Political Career Guided By Top Wall St Donors To Romney’s Super PAC

Yesterday morning, Newark mayor Cory Booker made headlines when he defended private equity firms and Bain Capital’s behavior against criticisms by the Obama campaign:

BOOKER: I have to just say from a very personal level, I’m not about to sit here and indict private equity. To me, we’re getting to a ridiculous point in America. Especially I know I live in a state where pension funds, unions, are investing in companies like Bain Capital. If you look at the totality of Bain Capital’s record, they’ve done a lot to support businesses and grow businesses. This to me is very uncomfortable.


Booker said …

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February 14, 2012
The American Bankers Association is openly threatening to mobilize an astroturf movement against a bank tax.

Big Bank Lobby Threatens To ‘Employ The Grassroots’ If Bank Tax Gains Any Traction In Congress

President Obama unveiled his Fiscal Year 2013 budget proposal this week. While it is not expected to be passed into law, it is being used as a statement of Obama’s fiscal and political principles going into the election year.

Included in Obama’s proposal this year is a special tax on financial firms with more than $50 billion in assets. This bank tax would raise an estimated $61 billion in revenue if enacted. To many Americans, taxing these big banks is only fair. After all, their reckless behavior helped cause a recession that impoverished more than 60 million people and …

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