Comments on: Where Was the Fed?

By: Nancy

Nancy — Sat, 26 Dec 2009 09:05:52 +0000

I think what happened Pat, is that the Supreme Court said that the credit card companies could charge what ever rate the state their credit card originated sets, so one of the Dakotas decided it would not set a rate, so therefore, the credit card companies can charge whatever interest rate they please, because they all sent their operations there. States used to set rates, mine was 12%, but not anymore. The federal Congress would have to write and pass a bill limiting interest rates, but as you see from the bailout, it ain't gonna happen unless we all inundate the capitol with letters, e-mail, petitions, etc. I'm surprised it hasn't happened already.

By: Nancy

Nancy — Sat, 26 Dec 2009 08:05:52 +0000

By: Nancy

Nancy — Wed, 23 Dec 2009 02:11:52 +0000

Dear Senator Sanders,
I've brought up an idea on two "progressive" radio shows and quite surprisingly received the same answer, one that would require a Constitutional amendment, while my idea would only require a replacement of one law for another. My idea is to repeal the law that restricts the number of representatives to 435 and replace it with one that will grow as our population does as the Constitutional had originally intended. Not only do I get the same answer, they cut me off in mid-sentence and would not answer my subsequent calls. Before the cut-off, I told them that I had looked into other countries to find out how many people were represented per representative (cause somehow they get labeling on their foods as to whether they are GMO's, and they get to test their beef (all their beef) for mad cow) and found out there are about 200,000 people to one representative. Our average, according to the host, is 800,000. Montana is more than one million. Wyoming provides 200,000, but that is per Senator! In my opinion, our corruption could be ended by putting more people in the house and I've contributed my ideas to a site: www.thirty-thousand.org. I differ from them because they say they need a Constitutional amendment to make the change and make it stick. I still maintain the less involved method of just replacing the law, but I don't know how to make this idea available to the public, and is it so dangerous an idea that it would warrant fear for my life? The award winning author of "Field Notes on Democracy: Listening to Grasshoppers", addresses her concerns of how hollow India's democracy is. Couldn't this be applied here? When I questioned my Representative (who happened to be in the same 4th of July parade) of how many people's signature on a petition it would take for him to co-sponsor a bill to impeach the president he laughed in my face and bragged that he had 700,000 constituents and that the number didn't matter, he had made up his mind and he wasn't going to change it. Now, is that what anyone would call representation? After I complained in an e-mail that my and my husband's jobs (white collar, technical) were being outsourced to Russia (the very same design center that Secy Clinton proudly visited), he didn't bother to create a local task force, but said that the GAO made a report that blue collar jobs were being outsourced, so he had no proof of my allegations! He couldn't have just had a meeting? Microsoft jobs were being taken by H-1B visa holders whose numbers had been so conveniently lost by the government. He certainly would have heard an earful. Also he convened his healthcare meeting outside his district. And now he calls himself a progressive. Makes me sick, he's a Democrat, but I want another. He's spent most of his adult life in government. If you think this is too inflammatory to be discussed, please don't take it on yourself. As for me, it is something that constantly nags me. We need you to fight for us. Don't take any private airplane trips! By now Bernanke has been reconfirmed, but Elizabeth Warren would have been a better or Spitzer.

By: Tiffiniy Cheng

Tiffiniy Cheng — Thu, 17 Dec 2009 01:14:35 +0000

Hey everyone — we have to get more active especially when there is depressing news. Center for Media and Democracy has a reform site, but even better a video: “Its NOT Such a Wonderful Life” at http://www.banksterusa.org – it's worth sending around. We think it's the perfect message this holiday season with 16 million out of work. People are psyched about the video, and we need to reset our economy. We hope you can watch and send around to people who will appreciate learning more about the crisis.

See the petition too: http://salsa.democracyinaction.org/o/632/p/dia/...

By: Mac

Mac — Wed, 09 Dec 2009 16:49:07 +0000

The deregulation began under Carter and continues on today. Remember though, even though Congress is complicit in this system, to get Congress to change the Fed Reserve is the tail wagging the cat.

By: Mac

Mac — Wed, 09 Dec 2009 16:47:00 +0000

You are only getting part of the issue. The federal reserve is a system designed to financially enslave the population. It keeps a few people very wealthy and most people working to pay off debts that cannot be paid – ensuring competition and that a hierarchy of wealth forms. It is devious and makes life easy at the top. Read: Secrets of the Temple: How the Federal Reserve Runs the Country.

By: Mac

Mac — Wed, 09 Dec 2009 16:43:56 +0000

By: k.a.m.

k.a.m. — Sun, 06 Dec 2009 15:30:17 +0000

I can think of a number of people right off the top of my head….Brooksley Born, Elliot Spitzer,(Yeah, yeah we know all about his little head getting ahead of his big head…So what…join the human race)

Any woman actually.

I believe in my heart of hearts, women should be made the leaders of major institutions, including the Catholic Church. (i.e. molestation of children) I guarantee you, the “good ole boy” network would end, and we'd have a much more even-balanced, more clear headed down to earth semblence of how fairness works, who gets what, and who's worth it.

By: FloridaPat

FloridaPat — Sun, 06 Dec 2009 02:16:49 +0000

You keep blaming everyone for the sky high interest rates on a lot of institutions. On the banks because there is no longer competition. On the Fed for not telling the banks to lower their rates. How about the real people who are responsible for the outrageous interest rate – congress! When Reagan was president and the prime rate was 21% you folks in congress too over the management of bank credit card interest rates by eliminating the state laws that held interest rates at 10%. And for the last almost 30 years you folks have renewed that law. And it only applies to banks! If I loaned someone money and charge them 30% I would go to jail for usury. How about just canceling you own law and letting the interest rates on credit cards just plain go back to the state level where it belongs. You people in congress are responsible for the 30-40% rates banks are now charging.

And is anyone but me wondering how a bank can charge 30% and go under? What is wrong with our entire financial institutions? Is congress ever going to do anything to regulate the greed that is rampart in banking?

By: Hobie Anthony

Hobie Anthony — Sat, 05 Dec 2009 06:50:57 +0000

I'm 100% with you, Senator Sanders, but I'm wondering who would be a good replacement.

So, rather than be simply negative and reactive, posit a positive solution in the form of a person who is not a product of wall street, but who has a desire to restore our main street economy.

Personally, I like Elizabeth Warren, the chair of the Congressional Oversight Committee. She'd be just about perfect.