Wednesday, February 27, 2019

A Post From Thom Hartmann

From Thom Hartman's blog 2-27-2019
Thom's blog
A Knife in the Heart of Democracy - Billions$ in Dark Money

Every time some wimpy politician or self-appointed media pundit says we "can't pay for" Medicare for All or free college or better wages, know that the reason is simple - billions of dollars in dark, untraceable cash being poured from billionaires into the pockets of politicians and media figures. The
Supreme Court overturned laws against this legalized corruption back in 1976, leading us straight to the swamp of the Reagan Revolution, taking control of America away from voters and putting it into the hands of lobbyists, big corporations, and multimillionaire politicians like Mitch McConnell.

The Federal Election Commission reports that over a billion dollars moved from secretive billionaire and corporate hands into our political bloodstream just since 2016; expect far more next year. This is why corporations get deregulation so they can increase pollution and rip-off loans, while suicide and drug addiction rates are exploding among working people, particularly in Red States, who're losing access to health care and know their kids' futures are screwed. From crumbling roads and bridges to failing schools to poisoned water supplies to explosions of cancer and chronic disease, it all goes back to the evil of dark money flowing through the veins of our political system.


Saturday, February 23, 2019

This Is What Is Wrong With Capitalism. A Complete Disconnect.

Mark Henson - Two Worlds
This story had me boiling. Venture Capitalists are going after your companies and their pensions. This is what they do. No need to hate them. We need to change the laws if we want them to change the way they do business. So just what is their business? Well mostly it's lending money to start up companies at least that's what most people tend to think. There is another side of the business though that isn't so rosy.

One of the business models however,  involves buying companies to steal their pensions and real
estate. I call this, living high on the tears of the people who's lives you destroyed. They then stay in business for a while longer with a hollowed out company that isn't worth anything and file bankruptcy. They get all their money back and your blood sweat and tears. You? Well you get nothing!  The sad thing is, you can't trust the Republicans with your Social Security and we can't trust Wall St. with our jobs, 401k's or pensions. Even if it makes you mad, do keep reading.

This venture involves a company founded in 1931 called Marsh Supermarkets which including it's convenience stores numbered in the hundreds.  Enter in Sun Capital inspired by Mitt Romney's old outfit Bain Capital. It is my belief that if allowed, unregulated capitalism would eat itself and die. But that's just my observation. Below are some excerpts from the story at The Washington Post.

For Sun Capital, this process of buying companies, seeking profits and leaving pensions unpaid is a familiar one. Over the past 10 years, it has taken five companies into bankruptcy while leaving behind debts of about $280 million owed to employee pensions.

Another excerpt below from:

Since bankruptcy law changed in 1978, Gotbaum said, “the business community has been inventing new uses of the bankruptcy courts. The private-equity community realized they could use Chapter 11 to do pension laundering.”

US Senator Joe Liberman, WTC 7 Did Not Occur