Rep. Dennis Kucinich on His Battle With the Bank

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Rep. Dennis Kucinich on His Battle With the Bank - 12/16/2008 5:43:13 AM

pahunkboy

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Rep. Dennis Kucinich on His Battle With the Banks http://www.truthdig.com/report/item/20081215_rep_dennis_kucinich_on_his_battle_with_the_banks/ Posted on Dec 15, 2008 By Rep. Dennis Kucinich Once they were as gods, but the deities of the American banking system are now in ruins, plunged from their pedestals into the maw of taxpayer largesse. Congress voted to give the banks $700 billion, lifting them temporarily out of their sepulcher of debt, while revealing a deep truth about the condition of America’s financial powers: They never had the money they said they had as they constructed their debt-based monetary system which now lies in ruins. Their decisions on behalf of depositors, shareholders and investors were lacking in basic integrity and common sense. Green gods bailing out with their golden parachutes. There was a time when their power was real. Come with me to Cleveland 30 years ago today. Dec. 15, 1978, Cleveland, Ohio I awoke to find a curt payment demand that was dropped on my front step by a grandfatherly man who supplemented his Social Security delivering the morning newspaper. The headline plastered across the front page: Cleveland Trust: Pay Up. Bank would relent if Muny Light were sold, Forbes believes. One of America’s largest banks, Cleveland Trust, led local banks in demanding immediate payment from the city by midnight, Dec. 15, of $14.5 million in short-term loans. I regarded the headline skeptically. Having lived in 21 different places by the time I was 17, including a couple of cars, I had come to an encyclopedic knowledge of dun letters, sent to my parents by battalions of bill collectors seeking immediate payment for televisions, cars and a variety of household appliances that never seemed to work. I first came to regard these credit alarms with trepidation, later with impassiveness, with the expectation that as our family grew to two adults and seven children it would soon be on the move again, incurring new delinquencies with each new address. Lack of access to money, housing and credit seemed to be a permanent condition. /snip

This is a good read. It makes me wonder which city will be the 1st to smash the grid.   I heard a 2006 peice by Lindsey Williams how in the halls of power, grown men grovel.... all the time.
the public by rights owns the commons. not a private interest.   yet, on and on we get scammed. Note that thru out history banks fail.   How many during the recent good years are still the same? not many.
Even corporations have hostile takeovers.... I seen a piece by Ron Paul from the 80s. the Latin America debt default bonds... we own, and use them as a bases to loan out even more money! So a zero value peice of paper, suddenly, magically, is an assset.   hmm.   I have an idea. Lets you and I do that. we will be rich!   rich I say!!!

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RE: Rep. Dennis Kucinich on His Battle With the Bank - 12/16/2008 7:24:12 AM

Termyn8or

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You do know who Cleveland Trust is now don't you ?

T

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RE: Rep. Dennis Kucinich on His Battle With the Bank - 12/16/2008 7:48:36 AM

UncleNasty

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Tell us Term. I shant take another breath until you do.

Uncle Nasty

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RE: Rep. Dennis Kucinich on His Battle With the Bank - 12/16/2008 8:16:22 AM

Termyn8or

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Cleveland Trust is now Citicorp, and is still Citicorp with the help of the Chinese. Now breathe deeply.

I remember the fight, Cocksnitch was rightly dead set against selling CPP (muny light). George Forbes was one of the crookedest politians we ever had around here, and also delayed Cleveland from getting cable TV for about a decade. Nobody had enough bribe money to get the deal done.

T

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RE: Rep. Dennis Kucinich on His Battle With the Bank - 12/16/2008 8:35:20 AM

pahunkboy

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When I was a kid in Chicago, we did not need cable. We got channel 2,5,7,9,11,26, 32. Somehow there was more on tv back then. I am told that 2008, a roof antennae wont get in those stations.

So one has to pay to watch TV, after buying the TV, the electricity, watching the commercials, and putting up with ugly wires in the skyline. All of which is taxed, and the tax is taxed.

When I moved to PA in 88, cable was not quite $10. today is is $42.    there are a few more channels, and alot of shopping infomercial channels.

...I own this house. I choose to not let that into my home.   It wasn't so much the commercials, or the cost.   But the content and the sound booms. So now the place is more at peace. even before I left, HOB, cinnamax was getting commercials..... tho a promo teaser isn't classified as a commercial.

Funny thing is, that while I no longer pay for satellite, the dish picks up all the shopping channels, and 4 other channels.   With out the $63 a month I had been paying. There was nothing on then, there is nothing on now.

it will be curious if too many people loose their jobs, if the property tax pay out will continue......

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RE: Rep. Dennis Kucinich on His Battle With the Bank - 12/16/2008 8:47:12 AM

pahunkboy

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quote:

ORIGINAL: Termyn8or

Cleveland Trust is now Citicorp, and is still Citicorp with the help of the Chinese. Now breathe deeply.

I remember the fight, Cocksnitch was rightly dead set against selling CPP (muny light). George Forbes was one of the crookedest politians we ever had around here, and also delayed Cleveland from getting cable TV for about a decade. Nobody had enough bribe money to get the deal done.

T

local banks change their name close to every year.   then they act like they have been here forever. I dont even try to remember which bank they are.   I have no idea why there are even banks in this valley. the people dont have any money.   the fabulous times the suburbs experience, is not something we do.   tho- instead of a series of small towns, we are morphing into a suburb- with out a city.

I was telling mom, the recession could bring back Sunbury.    Our downtown was abandoned when the malls were built. So- notice when a mall goes out. No one claims it. It sits empty for a long time. So a mom and pops set up, where will they go?   out of their house, or a small storefront intown.   not a mall.   add to this- alot of those old buildings are built with ornate workmanship... and solid.     a charm that Madison avenue tries to duplicate...but cant.

So the small towns could be ripe to come back.

Sunbury was almost the state capital.   it lost be only 1 vote, in favor of Harrisburg.   the deciding vote was cast by Northumberland. LOL... the rival city... Northumberland split with Sunbury way back... wanta guess why?   one hand there, try not to breath.....

--> the bank had an argument from with in itself... and went accross the river to protest the other partner. :-)

red necks can be very ... down to earth. we dont want it here. we are not the wild capital region.

funny too, harrisburg has grown, merged, east, west, and south- but not north- it is the final direction to grow.... which would butt it up with Sunbury.... lol   where god love the red necks,,,, we dont want it.

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RE: Rep. Dennis Kucinich on His Battle With the Bank - 12/16/2008 9:14:45 AM

Termyn8or

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Hunk, if you want cable, I might be able to arrainge it. Five hundred for a fixed box, that is it is in the test mode. There is a loophole in the law and these people advertise openly around here. Every couple of months you get "bulletted" and the guy has to come out with, of all things, a jump drive to reset the box. Since they are here and you are there, you best spend the extra few bucks and get the jumpdrive yourself. There is a file you must put on it which you can download on the internet.

Now that you seem to have hijacked your own thread .........

There are alot of things we don't like about Cocksnitch (Kucinich), he is too liberal and likes gun control. However he has one saving grace, he has not been bought, at least not completely.

Over the years, because of Kucinich as mayor back then, I have saved thousands on my electric bill using muny. Every month on the bill it used to say "This month you saved $10.21 by using CPP". CPP, which we call muny, actually buys most of it's power from PASNE. So in a way it is environmentally friendly, generated in part by a waterfall, but really all I care about is that it is cheaper.

However back then the banks wanted CPP for themselves, or their buddies. They would have no doubt charged whatever the market would bear, of course they weren't in business to lose money. They thought they had the city over a barrel, but we never saw anyone rolling the desks out of city hall. The police cars did not show up at the sherriff's auctions.

So the lesson to be learned is to not loan money to government (yeah right). They are uncollectable when they want to be. A friend of mine is an apartment manager and he will never ever rent to an employee of the federal government. You can't garnish their wages, and they have a certain credit union that does not have to attach their bank accounts. You can evict them, or repo their car, things like that, but you will never see a dime until they are good and ready, or are probated.

Yup, life is fair. For some.

T

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RE: Rep. Dennis Kucinich on His Battle With the Bank - 12/16/2008 9:57:51 AM

pahunkboy

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...when I worked at H and R Block, the federal workers, (prison), knew they could just not pay the local tax. However, I had to go thru the spiel....

3 states do not have wage attachments. PA, IN, and ?    I dont know..they were going to ammend it in PA for back rent.
of course, IRS, student loans, child support all do apply.

many years ago, someone we know who will be nameless, had debts in IL, but then moved to a state where there is no wage attachment. ooops.

electric rates went up 42% in Lewisburg, and we get hit next year. Even after the Enron, CA rate mess...PA still wants deregulation. of course the annual 5-7% increases occur all along, and lets not forget the 9.9% tax on it. so the tax on the increase alone is of note.
the natural gas goes up to.   the CEOs of the 2 earn 5 and 6 million, and have spent around 1 million on lobbying, and the boards of directors are intertwined so one cant tell who is who.

Rendell threatened lawmakers to unilterally extend the rate caps... PA congress among the highest paid of any state was busy giving itself yet another raise.
Despite that, PA is one of the better states to live in, thats only my opinion.   Most states are so slimey.... I seen a peice where Jesse Ventura claims the CIA is effecting every one of the 50 states....    it is not far fetched to think the 50 sates wont be 50 in the next 10 years. Not in the least.   The thing is- the fed wont allow any serious move to secede.
but the currency is as good as gold. your dollar, heck, it is better then gold. so when this filters thru the pipeline... Im not sure how the miliatry will be paid.   You know- the same troops that 20k are now patrolling US streets.

Im flattered by the $500 box. Tho- I will decline.   I could have one hell of a party for $500...lol.

this is the 3rd day, I made a list and got things done. but shit. I sold the silver wheaton 1 day too soon! (as in $1300) I guess I dont have the stomache for the market. besides, I want the real thing in hand.   the paper market is... well, paper would at least be useful.   the markets...all of them, are so fixed it isnt even funny. I must wait 5 days for my money, yet- a hedge fund can sell silver they dont even own!

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