mykeystrokes.com

"Do or Do not. There is no try."

“Change Takes Continuity”: Hillary Clinton Is The Change America Needs

Over the coming weeks and months, Democrats in caucuses and primaries around the country will choose between Hillary Clinton and Bernie Sanders to be the party’s nominee. Some are now casting the decision as one between “continuity” and “change,” with Clinton representing a continuation of President Obama’s agenda and Sanders representing a shift toward the transformational change that escaped Obama.

This binary is completely false.

Ours is a historical era in which continuity and change are one and the same. Obama ended the wars of the George W. Bush administration, normalized relations with Cuba, and prevented the ascent of an Iran armed with nuclear weapons. In the last week alone, his administration declined to renew licenses to coal mining operations on federal lands, declared a ban on solitary confinement of minors in federal penitentiaries, and ordered police departments around the country to give back military surplus equipment being misused by law enforcement. And on Tuesday, news came of the White House preparing to issue an executive order that would require any firm doing business with the federal government — virtually all giant corporations — to disclose its campaign contributions.

We need more of the same. We need the unbroken continuation of Obama’s domestic and foreign policies to bring about the laws, rules, and regulations that advance progress. It may not be “transformational,” but real change is rarely that sexy. It may not feel all kumbaya, but politics almost never does.

Let’s remember the Democrats saved the economy, passed the Affordable Care Act, and reformed Wall Street — with nearly unanimous opposition from Congressional Republicans. Since 2010, we have seen more job growth since no one remembers. More Americans have health insurance. And, while it took a while, the Dodd-Frank financial reforms are now being felt.

That’s real change.

Yes, wages are not what they used to be, health care is still run by private insurance companies, and Wall Street still rakes in more money than God. But those are not reasons to break the chain of real progress. Change takes continuity.

Consider Bernie Sanders’ call for “Medicare for all.”

In the hours before the final Democratic debate, Sanders released a plan for creating a single-payer health care system of the kind found in rich European countries that have managed to keep costs down while ensuring the right of all citizens to access to quality health care. Ever since Obama proposed health care reform that kept intact the role of private health insurance companies, the Democratic Party’s left wing has demanded nothing short of “Medicare for all.”

That’s fine. Most left-liberals would prefer that. But it doesn’t represent change so much as wishful thinking.

Hillary Clinton was not, during the debate, just wrapping herself in Obama. She was speaking the truth: Democrats can’t go back and restart the fight over universal health care because they have no hope of winning. Now is the time, however, for policy reforms addressing rising costs, insurance exchanges, and private profit. Yes, this is change by a thousand tweaks, but it is still change.

Is there a risk in voting for Clinton? Yes, of course. You don’t really know what kind of president you’re getting until she’s elected. But Hillary Clinton may be the exception. She’s long been in the public eye. We know her strengths as well as her weaknesses. Most important, we know she can be forced to listen to progressive demands. That cannot be said of Republicans.

I like Bernie Sanders and would support him in another context, and I don’t personally like Hillary Clinton. But my dislike isn’t as important as my country transcending the long conservative malaise that began before I was born.

 

By: John Stoehr, The Week, January 29, 2016

February 2, 2016 Posted by | Bernie Sanders, Democratic Primary Debates, Hillary Clinton | , , , , , , , , | Leave a comment

“GOP Lawmakers Hit The Ground Running To The Far-Right”: House Republican Leaders Still Haven’t Mastered The Art Of Vote-Counting

In the weeks immediately following the 2014 midterm elections, there was an enormous amount of talk about the need to avoid “poisoning the well.” The point seemed to be, policymakers should be cautious about picking political fights in order to avoid partisan rancor in the new Congress.

Clearly, those concerns have been thrown out a Capitol Hill window.

House Democrats on Wednesday knocked down a GOP bill that would have delayed a key Wall Street reform known as the Volcker Rule, stunning Republican leaders who had expected it to pass with ease. […]

The bill would have allowed banks to hang onto billions of dollars in risky collateralized loan obligations for two additional years by amending the Volcker Rule, which is part of the 2010 Dodd-Frank financial reform law. The rule bans banks from speculating in securities markets with taxpayer funds, requiring them to dump their CLO holdings. A Volcker Rule delay would be a major boon to the nation’s largest banks.

Note, a majority of the House voted for the measure, but because Republican leaders brought the bill up under the suspension calendar, it needed a two-thirds majority to pass. It fell far short.There are a few ways to look at yesterday’s failure. The first, of course, is that House Republican leaders still haven’t mastered the art of vote-counting. The second is that GOP lawmakers clearly remain committed to using their power to do Wall Street’s bidding.

But even putting that aside, let’s not miss the forest for the trees: on only the second day of the new Congress, House Republicans immediately turned their attention to a controversial proposal, backed by financial-industry lobbyists. These guys really aren’t wasting any time.

Indeed, it’s amazing to see just how aggressive the new Republican majority has been since taking its oath of office on Tuesday.

Barring crisis conditions, the start of a new Congress can generally be compared to the start of new school year: folks like to get settled in before tackling a lot of work. On Capitol Hill, some members, especially the freshmen, are still unpacking and learning their way around.

And it’s against this backdrop that House Republicans this week are voting to undermine the Volcker Rule, undermine Social Security, undermine the Affordable Care Act, approve the Keystone pipeline, and impose irresponsible “dynamic scoring” rules – all in the first three days.

It’s one thing when lawmakers furiously try to get stuff done before the end of a Congress – they tend to move quickly when facing an inflexible deadline – but the House GOP majority seems desperate to get this new Congress off to a fast, far-right start, just for the sake of doing so.

What’s more, we’re not even going to touch the newly introduced legislation – including major new abortion restrictions proposed yesterday – which will be considered in the weeks and months to come. I’m just talking about measures on the House floor this opening week.

E.J. Dionne Jr. reminded us this morning, “This will be no ordinary Congress.” Republicans are eager to prove this prediction true.

 

By: Steve Benen, The Madow Blog, January 9, 2014

January 11, 2015 Posted by | Congress, GOP, House Republicans | , , , , , , , | Leave a comment

“Holding Pickpockets To Account”: Sen. Elizabeth Warren Comes Out Swinging

In case you missed it, Elizabeth Warren made quite the splash at her first Senate Banking Committee hearing on Thursday.

In front of a panel entitled “Wall Street Reform: Oversight of Financial Stability and Consumer and Investor Protections,” Warren berated regulators for failing to prosecute a single Wall Street criminal in recent years, and for not letting institutional suspicions arise due to the fact that banks are trading at below-book value.

This, as you can imagine, did not sit well with banking executives.

According to POLITICO’s Ben White, they went apoplectic:

“We have been through more tests and thorough exams than any college student over the past four years, including many conducted by the CFPB,” said Richard Hunt, president and chief executive of the Consumer Bankers Association.

“While Sen. Warren had every right to ask pointed questions at [Thursday’s] Senate Banking Committee hearing, her claim that ‘nobody believes’ that bank books are honest is just plain wrong,” [another anonymous] executive said in an email. “As Federal Reserve Gov. [Daniel] Tarullo explained in response to her question, the low valuations are more likely due to continued economic uncertainty and concerns on the part of investors regarding the impact on banks’ profitability due to the hundreds of new regulations.”

White, however, left out key pieces of background here. The first is that Wall Street banks are performing like they were in 2006, and that their moaning about profitability rings hollow. The second is that to say the industry has a credibility problem would be the understatement of the decade: according to the Wall Street Journal and a trade publication called CFA Magazine, “one out of every ten people working on Wall Street are psychopaths.”

Not wanting to disappoint, the executive evidenced a delusional mendacity again in White’s article, when he said that “Elizabeth warren and [Texas Republican Senator] Ted Cruz are dueling for the title of ‘most extreme fringe freshman senator.’”

To this empty suit, it’s not just as if the financial crisis never happened. It’s as if Wall Street firms haven’t been mired in scandal after scandal since: foreclosure fraud, LIBOR, JP Morgan London Whale, FHA loan fraud, and MF Global to name a few. According to our faceless executive, wanting regulators to hold these well groomed pickpockets to account — for both crimes and reckless legal practices — is equal to slandering Chuck Hagel for having fictitious ties to North Korea or a blatantly made-up Hamas linked booster group (and certain publications continue to push this false equivalency in their fact-free devil-may-care attempts to be “objective” stenographers).

Fortunately for Wall Street, Warren might not have done herself any favors through her line of questioning. As Yves Smith, author of the the indispensable blog “Naked Capitalism” pointed out, the freshman Senator could have played a more subtle cat-and-mouse game to “tease out” information she claimed to have wanted – about why regulators never take cases to trial, namely, or why the fines they issue amount to a paltry “cost of doing business” amount. I suspect, however, that Warren was just trying to make a point – that whether regulators are scared of losing cases, or not wanting to find themselves shunned by Wall Street when they decide that they’ve had enough of Washington, they haven’t been doing the public any favors through inaction.

What’s important about this exchange, though, is that Warren demonstrated why she was elected. She might, thus far, be known as a one-issue kind of expert, but that issue is of massive importance to her constituents (and the American people). Her banking committee membership, I suspect, will be significantly more valuable the next time financier psychopaths pay a visit to one of the Senate office buildings to testify.

 

By: Brian Knight, Washington Monthly Political Animal, February 17, 2013

February 19, 2013 Posted by | Banks, Wall Street | , , , , | Leave a comment

“Not So Hidden”: As If Republicans Didn’t Know, President Obama’s Second-Term Agenda Is Pretty Clear

Everywhere you turn, President Obama is accused of not offering a clear second-term agenda. It’s not surprising that Republicans say it, but you also hear it from quarters sympathetic to the president.

But how true is the charge?

The president does lack a crisp, here’s-my-plan set of sound bites. What’s less obvious is whether this should matter to anyone. Mitt Romney’s five-point plan sounds good but is quite vague and, upon inspection, looks rather like five-point plans issued by earlier Republican presidential candidates. Moreover, Romney has been resolutely unspecific about his tax plans, leading to the understandable suspicion that he’s hiding something politically unsavory, either in the popular deductions he’d have to slash or in the programs he’d have to get rid of.

Obama, by contrast, has been far more straightforward about what he would do about the deficit: He wants a budget deal that includes both spending cuts and tax increases. He has put forward rather detailed deficit-reduction proposals. The centerpiece is a plan that, when combined with cuts made in 2011, would reduce the deficit by $3.8 trillion over a decade, according to the Center on Budget and Policy Priorities. Obama keeps insisting (rightly) that no deal can work without new revenue, and he is upfront that he’d begin by raising taxes on Americans earning over $250,000 a year.

Some deficit hawks argue that Obama’s tax increases are not broad enough. Others are looking for steeper Medicare and Social Security cuts than Obama is willing to endorse. Many progressives, in turn, want fewer cuts and favor additional tax increases on the very wealthy. Before signing off on deeper program reductions, progressives should consider the efforts of Rep. Jan Schakowsky, D-Ill., to counter all the proposals to cut tax rates. She has suggested five new, higher rates on incomes ranging from $1 million to $1 billion or more a year. The capital gains tax also needs to rise. Low levies on capital gains, the reason Romney paid so little tax on his $20.9 million income, raise problems for both fiscal balance and equity.

But these are responses to what Obama has proposed. To disagree with some of Obama’s specifics is to acknowledge that the specifics exist.

Some dismiss what an Obama second term might achieve by claiming that it will be mainly concerned with consolidating his first-term accomplishments. If these had been trivial, that might be a legitimate criticism. But does anyone seriously believe that implementing a massive new health insurance program that will cover an additional 30 million Americans is unimportant? Can anyone argue that translating the Dodd-Frank Wall Street reforms into workable regulations is a minor undertaking?

The president has also been clear that he wants to take on immigration reform. The question always asked is: Why should we think he’ll do it in a second term when he didn’t do it in the first? The answer is that if Obama is reelected, it will be in no small part because he overwhelms Romney among Latino voters who have stoutly rejected the Republican’s “self-deportation” ideas. It’s possible that Republicans will cooperate on immigration reform simply because they don’t want to keep losing elections by getting clobbered in Latino precincts. And Obama will know that he has an electoral debt to pay.

Republicans have been relentless in attacking the clean-energy projects Obama has financed. If Obama wins, the president will have reason to say that clean energy won, too, and push ahead. And in one of the best articles on what Obama might do in a second term, the New Yorker’s Ryan Lizza observed in June that Obama’s campaign statements — to that point, at least — suggested he would like to take another shot at legislation to address climate change.

Obama speaks incessantly about upgrading the country’s infrastructure. He also stresses the urgency of retooling both our education system and the way we train people for well-paying jobs. One can imagine a comprehensive education, jobs and investment program being a high priority in a second Obama term. And you can bet he will join efforts to create a new campaign financing system to check the power billionaires and corporations exercise in the world after Citizens United.

There is every reason to wish that Obama would pull all this together in a more inspiring way. Some of us would like him to be much bolder in addressing income inequality, the huge roadblocks to upward mobility, and the persistence of poverty. But is there is an Obama second-term agenda? Yes, there is.

 

By: E. J. Dionne, Jr., Opinion Writer, The Washington Post, October 21, 2012

October 22, 2012 Posted by | Election 2012 | , , , , , , , , | Leave a comment

   

%d bloggers like this: