Showing posts with label new york times. Show all posts
Showing posts with label new york times. Show all posts

Monday, December 28, 2009

Congress Confesses Its Partisan Divide


No One Should Be Surprised to Learn that the partisan divide holding up Congress for the past couple of decades has a deliberate component to it.

Members of Congress on Both Sides of the Aisle—Democrats as well as Republicans—have decided to choose party loyalty over the work required of their oaths of office.

As Reported in Yesterday’s Edition of The New York Times, Democratic Representative Steny Hoyer, the House majority leader, conceded “that he had irresponsibly opposed increases in federal borrowing authority during the Bush years in order to impugn Republicans while Democrats were fighting to regain the majority.”

“Once  You Get in These Battles Where You Break into Camps, every vote is about the next election,” said Senator Lindsey Graham, a South Carolina Republican who occasionally works with Democrats on difficult issues. “As soon as the last election is over, those who lost are thinking, ‘What can I do to get back in power?’ and those who won are thinking, ‘What can I do to stay in power?’”

Do Our Senators and Representatives Owe Allegiance to their individual political parties?  Or do they owe allegiance to the greater public service?

Everyone in a Schoolyard Feud knows the risks. Once sides are drawn and retaliation begins, the end recedes farther and farther over the horizon. Even as Republicans demanded  up-or-down confirmation votes of Democrats under President George W. Bush, now the Democrats are frustrated by their failure to get such votes out of Senate Republicans today. The Nation currently struggles in two wars and the greatest economic morass since the Great Depression. And what the Republicans and Democrats in both houses of Congress worry most about is....getting re-elected.

Whoever Steps Forward to Heal the Congressional Divide will display a quality of leadership which we Americans have not seen in a very long time. It is not easy to see how it may come about. It will not be an easy healing.

One Thing the American Voters Can Agree on, regardless of party affiliation or political orientation, is that the oaths taken to support and defend the Constitution are not honored, so long as party allegiance takes precedence over public service within the halls of Congress.

The Current State of the Union makes abundantly clear the need for both sides of the aisle to get busy mending fences. And to begin doing the work that they swore to do.

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Here Is the Oath of Office for
Members of the House of Representatives:

“I, [Representative’s name], do solemnly swear (or affirm) that I will support and defend the Constitution of the United States against all enemies, foreign and domestic; that I will bear true faith and allegiance to the same; that I take this obligation freely, without any mental reservation or purpose of evasion; and that I will well faithfully discharge the duties of the office on which I am about to enter. So help me God.”
(This oath and a listing of acting Representatives who have taken it may be found at:

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Here Is the Oath of Office for
United States Senators:
“I do solemnly swear (or affirm) that I will support and defend the Constitution of the United States against all enemies, foreign and domestic; that I will bear true faith and allegiance to the same; that I take this obligation freely, without any mental reservation or purpose of evasion; and that I will well and faithfully discharge the duties of the office on which I am about to enter: So help me God.”
(This oath, as well as some historical information concerning the oath, may be found at:
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Read the article from The New York Times:
by Carl Hulse
published: December 27, 2009 


Regards,
(($;-)}
Gozo!

Monday, April 20, 2009

Citizens to Own Shares of Rescued Wall Street Companies

“WASHINGTON — President Obama’s top economic advisers have determined that they can shore up the nation’s banking system without having to ask Congress for more money any time soon, according to administration officials.

“In a significant shift, White House and Treasury Department officials now say they can stretch what is left of the $700 billion financial bailout fund further than they had expected a few months ago, simply by converting the government’s existing loans to the nation’s 19 biggest banks into common stock.

“Converting those loans to common shares would turn the federal aid into available capital for a bank — and give the government a large ownership stake in return.

“While the option appears to be a quick and easy way to avoid a confrontation with Congressional leaders wary of putting more money into the banks, some critics would consider it a back door to nationalization, since the government could become the largest shareholder in several banks.”
Edmund L. Andrews,
“U.S. May Convert Banks’ Bailouts to Equity Share,”
The New York Times, April 19, 2009



Channeling Barack Obama writes:

Republicans Are Predictably Outraged at this potential to “nationalize” American banks and turn America into “a socialist state.” But think about this:

If Republicans Would Pull Their Heads out of Their Ideology, and turn their thoughts toward constructive solutions—instead of always shouting out, “Just Say No!—just think what we could achieve.

Take This Proposal For Example:


The American Shareholder Plan

Now That President Obama’s Top Economic Advisors
have begun turning taxpayer TARP loans into shares of common stock, it’s time to take another look at the ASP—the American Shareholder Plan.

(For Our Description of this taxpayer/shareholder proposal, see October 11, 2008:
“ASP: The American Shareholder Plan.”)

Conservative Americans Oppose Nationalization of publicly owned companies: Under the ASP corporate ownership gets taken out of the hands of government, and into the hands of private, American citizens.

Conservatives Oppose the “Moral Hazard”
of rescuing profligate private companies such as A.I.G. and Citigroup. By giving ownership to individual taxpayers, the ASP makes sure that those on Wall Street who got us into the current mess pay the price—through loss of ownership. Thus, moral hazard comes at a real cost.

Liberal Americans Are Angry
at the Investment Banks and Insurance Companies that have put the economy at risk, and countless Americans out of their homes and out of work. The ASP puts shareholder rewards in the pockets of the American taxpayer. Under the ASP, all citizens stand to benefit.

Americans Right and Left Share Concerns about Social Security. Republicans under the administration of President George W. Bush lobbied for private retirement accounts under the Social Security umbrella. The ASP can provide the basis for such private accounts—at no additional cost to the Federal Government and the American taxpayer.

For Once, Wall Street Need Not Benefit Alone from these historic excesses. Those who bear the real cost—the American taxpayers—receive the real benefit, in the form of stock-ownership that accrues toward each American’s retirement and education and health care.

If the American Shareholder Plan
Raises Questions for You, please post a comment below or send an email to: channelingbarackobama@yahoo.com.

Otherwise, Please Write Your Senators and Representatives. If you’d really like to own a share of America, let your government officials know.

And If Your Congresspersons Happen to Be Republicans, please let them know about pulling their heads out of their ideology. It's time for the Republican Party to get back to work supporting America.