HuffPost Breaks Huge Corruption Story -- And We Must Do Something About It

You can't make this stuff up. Breaking news from The Huffington Post:

Three days after receiving $25 billion in federal bailout funds, Bank of America Corp. hosted a conference call with conservative activists and business officials to organize opposition to the U.S. labor community's top legislative priority.

Participants on the October 17 call -- including at least one representative from another bailout recipient, AIG -- were urged to persuade their clients to send "large contributions" to groups working against the Employee Free Choice Act (EFCA), as well as to vulnerable Senate Republicans, who could help block passage of the bill.

...Donations of hundreds of thousands, if not millions, of dollars to Republican senatorial campaigns were needed, they argued..."If a retailer has not gotten involved in this, if he has not spent money on this election, if he has not sent money to [former Sen.] Norm Coleman and all these other guys, they should be shot. They should be thrown out their goddamn jobs," Marcus declared.

Not only are some of the most non-trusted companies in America blatantly trying to buy off Congress, but they're using our bailout money to do it. Enough!

If there was ever a time to join Change Congress's political "donor strike" in support of fundamental campaign finance reform, this is it.

Click here to join the fight for reform.

Together, thousands of us have pledged not to donate a penny more to politicians unless they support "citizen-funded elections" for Congress -- a combination of public financing plus Obama-style small-dollar donations. We have removed $431,000 from the campaign coffers of those who oppose reform, and it's growing by the hour.

Instead of politicians spending their time begging those who got us into this economic crisis for big-dollar checks, politicians will have to spend their time being responsive to regular people. That's the way democracy should work. And now, at this moment of outrageous news, all of us can do our part. Please join the fight for reform today by clicking here, and then forward this news to some friends today.

Thanks for changing Congress,
Lawrence Lessig & Joe Trippi (co-founders, Change Congress)

UPDATE: A commenter at DailyKos smartly said we should Digg and Reddit this. Please do!

Comments

[Kassandra]

What with Obama backing off allowing bankruptcy judges to rewrite mortgage contracts (dunno why) this is sorta required reading:
http://firedoglake.com/2009/02/01/cutting-the-gordian-knot-of-bad-contracts-to-save-the-economy/

We are so screwed...­..........

[Kassandra]

another outrage brought to US by the unchecked bank bailout. signed sealed and delievered. Let all your progressive friends know about this!
Thank you Mr. Lessig

[magen]

This is how our great constitutional democracy works folks.

Its just that this time its OUR TAX DOLLARS being used to buy off politicians.

Until this system of "the best government money can buy" is changed, big business will continue to contribute to politicians who will legislate their interests at the expense of the workers and taxpayers.

[AnotherMcIntosh]

Is this like trying to hang a bell around the neck of the cat?

On June 4, 1963, for example, JFK signed Executive Order No. 11110 to return the power to issue currency without going through the Federal Reserve back to the federal government.
http://www.john-f-kennedy.net/executiveorder11110.htm

Obama could enforce that Executive Order and give the federal government the ability to repay its debt without going to the Federal Reserve and being charged interest in order to create the new money. Just as LBJ and all presidents since have not implimented it, Obama won't either. The big-money people control this country and all the elected officials in positions of power.

[Vinca]

I JUST WANT TO SAY, I HOPE CLAIR McCASKILL, GETS HER BILL THROUGH

[jerry23]

If the clock was turned back and her act applied to the original shell game, I would believe she was sincere. I suspect this is all posturing and blowing smoke. It seem so Polly Anna. I truly wish is was real, but I sense it is just postering.­and saber rattling.

I am wondering when those enterpenural types are doing a Deck Of Playing cards with all these faceless crooks who are laughing at the American People for being stooges in this ruse. Is it a matter of time when Videos come forward, like the ones from Enron, were Yuppies are mocking Grannies who have lost everything. The Profits from selling the deck of cards displaying the Faces of Greed would finance the Lessons in Ethics required to yank this run away train back on track.

[Henryk A. Kowalczyk - Huffpost Blogger]

Nonsense. I lived in the country were it was tried before, it was Poland under the Soviet domination. The system was called socialism.

It is nothing wrong with CEOs spending their, let me underline it THEIR, money for whatever purpose they desire. It is stupid to give them public money, period.

The solution is not in giving economic stimulus (read: public money) to dinosaurs that are doomed to die, http://www.huffingtonpost.com/henryk-a-kowalczyk/its-time-for-financial-di_b_128466.html .

The solution is not in more excessive government regulations of big business; it is in fewer regulations at all so more individuals would be able to start new businesses.

[rphillips4165]

I'm sorry, but I have to ask how old you are? The reason for this is you talk about dinosaurs that are doomed to die. You sound just like my father, also like Joseph McCarthy. The world has changed. And just throwing up the word socialism or communism just doesn't work anymore. I'm also not stupid. I know we have to look at history to not make the same mistakes. But as I said before, the world has changed. Our economy depends on the world economy now. And I believe that since Reagan it has been proven that if allowed, the people in charge will take advantage of the people below them. I'm talking about the CEO's , politicians, military leaders, etc. There has to be some way of leveling the playing field. So that it becomes true that if you work hard you can succeed. As of right now that isn't true. And trying to make it happen isn't socialism, its just common sense.

[AnotherMcIntosh]

Vinca's expressed hope that Clair McCaskill is able to get her Bill through Congress is not nonsense.

Her Bill was never passed and tried in Poland.

[BluestateGuyInTX]

It never fails to amaze me that people like Mr. Kowalczyk can continue to say that we need more deregulation in the face of the current meltdown. How can they keep a straight face? And it isn't just financially that we have suffered due to this plague of deregulation. The current salmonella problem with peanut butter that is costing so much money in recalls is yet another manifestation of the effect of 30 years of dismantling of health, safety, and financial regulation.

Sorry Mr. Kowalczyk to paraphrase the man who started our long decline over the last 29 years, deregulation isn't the solution to the problem, it IS the problem.

[yappnmutt]

and that's why these companies should have been bankrupted, dissolved, had their liabilities taken over by the gov't(we did anyway) and let the share holders and bond holders suffer the fate they brought upon themselves.

[breakingpoint]

Now you're talking!

This is exactly what Ralph Nader's been talking about for years
http://www.youtube.com/watch?v=aQjpp0P5xLs
http://www.youtube.com/watch?v=ucKeyU2ea28
http://www.youtube.com/view_play_list?p=4B6F6E30F054CA82

most excellent site - signed up!

[shadow322]

If it can be proved that the public's Billions $$$ were issued for the purpose of funding the Republican Party (or any other) - that is TREASON! It would be that seriouis. If allowed - our Democracy died that very day.

[isonomist]

I think that unionization would be better supported if unions were able to take an active role in the workplace safety regulatory framework. It could relieve pressure from an overworked bureaucracy and even "reduce the size of government" as the Republicans always promise but fail to accomplish. Best of all it would be a step toward UNIVERSAL union membership!

[Emerald1943]

Where is Henry Paulson??? And just exactly how much did he make off the bailout to the banks???

It's time for some transparency, folks! These crooks have robbed America blind and then they use those funds to buy off our representatives! This has got to stop!!!

[isonomist]

Interviewing for his next investment banking job! Betcha he gets heck of a signing bonus!

[Vinca]

I HAVE NOTICED PAULSEN, HAS BEEN ON THE SCENE, FOR AWHILE, I DON'T KNOW WHO GOT THEIR HANDS, IN THE COOKIE JAR, BUT QUIT A FEW DID, I THINK

[Nazz]

Have you noticed that not one pwwp from paulson & the other officials ..after they got us into this mess they washed their hands ..Obama need to get tuff with the bailouts or republicans will bury him ..
Republicans have nothing to offer to its citizens except the same ole abortion, guns, God, gays etc the wedge issues. Oh yes & big tax breaks for the rich & a bone to others .. Alas the Joe falls for it every time …Just that this time Republicans brought the nation so much pain that citizens could not take it anymore … But their philosophy will not change

[Chaimirija]

Corporations have all the rights of personhood, yet none of the responsibilities

and no soul

sigh

why did we allow them to get so much power?

[Emerald1943]

We didn't allow it! It was taken from the American people by the corruption in our government!

Bring back regulations!!!!

[Rapid Ray]

Her's a plan...

Pull all but one cent out of you bank account.
That keeps the account open and forces the banks to produce a monthly statement.­..which they have to mail to you...and take a beating on the postage.

[Chaimirija]

cre.dit un.io.ns

[jmpfjoy]

For those of you who bank with these criminals- REMOVE YOUR DEPOSITS and go to a bank with some moral standing. The quickest way to hurt these greedy gluttons is to reduce their liquid cash.
Take your money and go somewhere else!

[Chaimirija]

creidt unions

[WmFlan]

How can we show these clever pirates that we see what they are doing and that we dont approve? Who are they, exactly? I agree we must move our business to services and companies that are not stealing from us...is there a list of the offending firms?
To refer to them as clueless or tone-deaf is exactly what they'd like us to do, but they know exactly what they're doing...

[BeeOplentee]

Besides making a fine beer (not for paupers, mind you!), Sam Adams had a wisdom beyond his years: "Neither a borrower nor spender be!"

[WestcoastSteve]

Thrift is a value that is held in high esteem, in theory. In reality big corporations and banks who trumpet how patriotic and full of old-time values they are exhort us to spend, spend, spend, then give lectures on how irresponsible their customers are if they can't pay their bills.

[ktxbi]

Hey America - wake up! BIG BUSINESS HATES YOU. BIG CORPORATIONS HATE YOU.

[urthsong]

Big corporations don't hate you. They don't care about you at all. They are amoral. Our founders understood corporate greed and no soul. Remember the Boston Tea Party? Every one of the new states had law about limitations on corporate entities and required that they go out of existence in a maximum of 40 years. That's part of the reason that our Constitution didn't do more to address the problem. What a difference four score and seven years or thereabouts makes. Lincoln was very concerned about the corporate power being unleashed during the Civil War and westward expansion. Then, in 1886, there was a Supreme Court decision that supposedly gave corporations personhood. Actually, that one didn't. A law clerk wrote a synopsis that indicated the long decision said something it didn't. Later court decisions built on the error.

[Greg Petty]

do not plan your life on corporate America, create your own way. and living , as soon as you can , gold watches don't pay the bills, have representation union doesn't have to be a four letter word, they are the only protection you will have against a bad employer, make your company treat you with respect, don't count on dim wit management.