The On May 12 Coalition is holding actions in New York City tomorrow to hold big banks and corporations accountable for crashing our economy and asking them to pay their fair share to help get the country back on track. Mayor Bloomberg is asking for terrible budget cuts, while the big Wall Street firms and the big banks pay big bonuses. On May 12 has a report on the impact Bloomberg’s cuts will have, and ways the big banks can help out.
On May 12 is described as,
a giant coalition of community, faith, environmental, student, labor, peace, immigration, and other groups are working together to pressure elected officials and the giant corporations and financial institutions who are responsible for the economic crash and the subsequent drop in tax revenues due to straight-up tax evasion.
The On May 12 Site explains,
The Big Banks crashed our economy, destroying jobs, foreclosing on millions of homes and wrecking city and state budgets across the country. After trillions in taxpayer funded bailouts, Wall Street is making billions in profits and giving away record bonuses to CEOs. But our communities are still hurting. Here in New York City, tens of thousands have lost their homes and their jobs. Now, Billionaire Mayor Mike Bloomberg is proposing devastating budget cuts as the only solution to the economic crisis that Wall Street caused. Enough is Enough. On Thursday May 12, 2011 we’ll be bringing some of that spirit of Wisconsin to Wall Street when thousands of people, from all walks of life, converge in a unique and inspiring action in the heart of the financial world – Wall Street. Join us — because it’s time to make the Big Banks and Millionaires pay!
Information is available at the On May 12 Coalition website at http://www.onmay12.org/.
Dave Johnson (Redwood City, CA) is a Fellow at Campaign for America's Future, writing about American manufacturing, trade and economic/industrial policy. He is also a Senior Fellow with Renew California. Dave has more than 20 years of technology industry experience including positions as CEO and VP of marketing. His earlier career included technical positions, including video game design at Atari and Imagic. And he was a pioneer in design and development of productivity and educational applications of personal computers. More recently he helped co-found a company developing desktop systems to validate carbon trading in the US.
"The world is a rigged game"
Matt Taibbi at Rolling Stone: “Word has leaked out that the London-based firm ICAP, the world’s largest broker of interest-rate swaps, is being investigated by American authorities for behavior that sounds eerily reminiscent of the Libor mess. Regulators are looking into whether or not a small group of brokers at ICAP may have worked with up to 15 of the world’s largest banks to manipulate ISDAfix, a benchmark number used around the world to calculate the prices of interest-rate swaps.”
On winning and values
So, right-wingers, you want a society where families are stable, where everybody looks like you and shares your Christian faith, and where the government pretty much stays out of your business? It’s not in some Randian fantasy, it’s right here in the USA.
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