Sen.-elect Elizabeth Warren pledged to lead the Democratic effort on filibuster reform in the “first week in January” and suggested a new filibuster should look more like the traditional motion: A lawmaker should be required to defend his or her opposition to a bill on the Senate floor.
“On the first day of the new session in January, the senators will have a unique opportunity to change the filibuster rule with a majority vote, rather than the normal two-thirds vote. The change can be modest: If someone objects to a bill or a nomination in the United States Senate, they should have to stand on the floor of the chamber and defend their opposition,” she writes in a blog post published on the Huffington Post.
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Make sure you check out fthebanks.org to read the whole article Matt Taibbi handed out at yesterday’s Occupy Wall Street day of action. This is just a teaser:
There are two things every American needs to know about Bank of America.
The first is that it’s corrupt. This bank has systematically defrauded almost everyone with whom it has a significant business relationship, cheating investors, insurers, homeowners, shareholders, depositors, and the state. It is a giant, raging hurricane of theft and fraud, spinning its way through America and leaving a massive trail of wiped-out retirees and foreclosed-upon families in its wake.
The second is that all of us, as taxpayers, are keeping that hurricane raging. Bank of America is not just a private company that systematically steals from American citizens: it’s a de facto ward of the state that depends heavily upon public support to stay in business. In fact, without the continued generosity of us taxpayers, and the extraordinary indulgence of our regulators and elected officials, this company long ago would have been swallowed up by scandal, mismanagement, prosecution and litigation, and gone out of business. It would have been liquidated and its component parts sold off, perhaps into a series of smaller regional businesses that would have more respect for the law, and be more responsive to their customers.
Bank of America’s Countrywide Financial business has agreed to pay a record fine of $335m (£214m, 257m euros) to settle discrimination charges. The US justice department said around 200,000 qualified African-American and Hispanic borrowers were charged with higher rates “solely because of their race or national origin”.
As we protest corrupt systems and institutions like BofA, it is extremely important to remember that race still plays a major role in the oppression of the people.
Financially, culturally, and politically, racism is not over.
This may not look like much, but it’s actually a pretty significant little piece of paper: this is the LAST transaction I will EVER make with Bank of America.
A couple of months ago I opened a new checking & savings account with a smaller bank and have been transitioning all of my bills, etc. from my old B of A account. Unfortunately, I miscalculated on a couple of them — to the tune of two $35 overdraft fees. I called the bank and asked them to turn off overdraft protection and block my debit card from making any new recurring charges. So they did. When an insurance payment tried to auto-charge my card, Bank of America rejected the transaction… and gave me a $35 “returned item fee.”
They gave me a “courtesy” refund of one of the overdraft fees, but my account was still overdrawn by a couple hundred bucks and another $70 in fees. Despite the fact that it’s the holidays and I haven’t been paid by my main job in almost 2 months and I had to buy all of my gifts on credit cards, I scraped together the money I needed to pay back Bank of America and close the account.
Then they charged me the $12 monthly fee, which overdrew it again.
So here you have it. My final deposit - eight dollars, sixty-five cents - to Bank of America. Then I closed my account. Bank of America isn’t having the greatest week, and they just lost one more customer.
I am aware that I am desperately in need of a manicure. I’d get one if I could afford it!
YES, FOR FUCK’S SAKE! #p2 #p21 #OWS
HSBC made 11.2 billion dollars in profit in 2010, but yet today HSBC announced that they will be letting go about 500 workers in the UK because of the “very challenging environment.”
Imagine what 11.2 billion dollars could actually do for people…