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Friday, December 12, 2014

Support Dodd Frank at minimum or not get our vote in primaries

We demand that Congressmen either stop or block efforts to protect the gambling of megabanks. Obama should be ashamed for himself in supporting Dimon's corrupt efforts to buy protection for Wall Street from their reckless speculation and conversion while paying for it with cuts to worker pensions. Any one who is trying gut Dodd Frank may not call him or herself a Democrat. As Elizabeth Warren said last night.

"Dodd Frank isn't perfect. It should have broken you to pieces."

Our essential problem with Wall Street is their concentrated corrupt power and influence over our congress, senators and corrupt SCOTUS. We demand that our candidates and representative support reform of Wall Street, reigning in of their ability to convert people's savings and retirement set asides to personal fortunes, and their impunity. The MegaBanks either must be nationalized into a National System or broken up into manageable sized outfits. This is a demand not a plank item. The Threshold is to not gut Dodd Frank and anyone voting for last night's corrupt Funding bill will not get our support in the next election. And We will find a replacement for you and primary you.

Elizabeth Warren on Dodd Frank

“Who does Congress work for?” Warren said in a speech on the Senate floor Wednesday afternoon. “Does it work for the millionaires, the billionaires, the giant companies with their armies of lobbyists and lawyers, or does it work for all the people?” [...]

http://www.dailykos.com/story/2014/12/10/1350800/-Elizabeth-Warren-blasts-Wall-Street-sweetheart-deal-in-spending-bill#

“Now, the House of Representatives is about to show us the worst of government for the rich and powerful,” she continued. “The House is about to vote on a budget deal, a deal negotiated behind closed doors that slips in a provision that would let derivatives traders on Wall Street gamble with taxpayer money and get bailed out by the government when their risky bets threaten to blow up our financial system.”

It may seem a small thing but it is a really big thing.

Source: http://www.zerohedge.com/news/2014-12-11/house-votes-11-trillion-cromnibus-bill-live-webcast

When Wall Street can get consumers to cover their bad bets, they can literally steal (technical word is convert) people's wealth twice. Once by stealing it and the second time by getting the taxpayer to make good their theft.

This demand relates to Bernie Sander's plank # 9

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