Kucinich to Neel Kashkari...Who do you work for?

[slipslidingaway]

Run time: 00:38 https://www.youtube.com/watch?v=evpFtFfPWP8   Posted on YouTube: November 15, 2008 By YouTube Member: Views on YouTube: 0   Posted on DU: November 15, 2008 By DU Member: slipslidingaway Views on DU: 5057

 

[slipslidingaway]

1. "You're going to be hearing that stmt for rest your career!"

http://www.youtube.com/watch?v=I4WWs8Twea0

[MindMatter]

9. You can prop up any company if you throw enough money at them

His argument is complete bullshit.

First we have banks companies that we have to bail out because they are "too big to fail". And then our solution is to give these companies hundreds of billions of dollars that they immediately put to use gobbling up other companies -- making then even bigger.

This is nothing less than racketeering. These people should all be in jail.

And how is it that Bear Stearns is too big to fail but General Motors is not?

[clear eye]

13. I posted that story Oct. 26th, but the moderators took it down

On Late-Breaking News I put up the story "Congress to Banks: Eat your Veggies" by Emily Kaiser, Economics Correspondent for the Americas, Reuters America, which included an earlier defense by Kashkari of the usage of bailout money by banks for acquisitions, but the admins first moved it to General Discussion, then almost immediately hid it from view (archived it) w/o explanation. I sent both a message and an email and got no response.

Two days later, I reposted a shorter version of it as a reply to another thread http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=3569936&mesg_id=3570477 and added it to my diary. I still don't know why I was treated so shabbily when it's clear from how a similar story is now being featured all over the place that it had merit.

They must have been offended by the mention in my first post http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=4313366&mesg_id=4313366 that some Dems voted for the version that had less oversight (after turning down the one with stricter reporting requirements) in order not to blamed for the implementation. Of course, anyone was free to dispute my assertion in a reply.

The mods' refusal to respond to a polite query is plain disturbing. I invite anyone to go through my current and archived Journal and decide if I've created worthwhile content that falls w/i DU's guidelines. It's taken me many hours to do so. I think I merit a couple of minutes of time from a moderator.

[MindMatter]

18. It was the neocons' last big score this cycle

I don't know about the moderators. That was at a time when the most important priority was to win this election. Perhaps the moderators thought the message was not helpful in that regard.

Cheney knew that Obama would have no choice but to back this plan because they presented it at the exact time when there would be no time left for a reasoned discussion. That was deliberate. As Democrats, we know it was a horrible idea and nothing but grand theft. But Cheney manipulated events so that we had to support it.

Cheney said, essentially, "OK you are going to win the election, but we're going to give all of our friends the biggest golden parachute you ever saw."

We cannot give these bastards the other $350,000,000,000. At some point, Obama has to dispense with the "There's only one president" crap and take the lead on this thing. If we're going to spend that kind of money, let's put it into places where wt will do some good, like infrastructure projects and other investments that will immediately create jobs for working folks.

The big problem is not marginal mortgages. A lot of those homeowners got themselves in over their heads and should downsize now. And the banks that pushed these bad loans SHOULD fail. We need consequences for bad financial behavior. The big problem is not banking - it is jobs. When you take over a million jobs out of the economy, and threaten tens of millions of other jobs, people stop buying cars and other durable goods. That's the problem we need to fix.

[clear eye]

20. Thanks, but you're preaching to the choir

I appreciate your surmise that election fever was behind the moderators' dumping of my thread. After the FISA vote, the bailout vote did dampen enthusiasm in some circles so I guess I understand their sensitivity. And although I voted for him and even made quite a few phone calls for him to swing states, I'm not Obama's biggest booster. By now the mods must know this, so I'm likely on the not-so-favored member list with other DUers of strong progressive passions.

As for Cheney's timing of the bailout, I said exactly the same thing in this Oct. 2nd reply: http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=4149499&mesg_id=4150191
But I did not reach the conclusion that we had to support it. I called for an accelerated, emergency hearing of a few economics experts.

The original 2-page Treasury version seems to have been written overnight. The House found the time to make multiple, albeit lousy changes to the bill before the 2nd vote (less oversight, etc.). Rather than what they did--an immediate vote, following by horse-trading, panicking about time, a lousy rewrite and a 2nd strong-armed vote, the sane thing to do on such a momentous decision would have been an immediate hearing of expert testimony, an informed though hasty rewrite, and passage of something resembling a real economic rescue package. With the enormous popular pressure, enough Republicans were willing to play ball at least to the extent of going for requiring Federal assumption and restructuring of defaulting mortgages, and much more strings and limitations on money to financial institutions. That would have helped some.

In a Sep. 24th OP, http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=4074169&mesg_id=4074169 that was a model letter to members of Congress, I wrote "The only obligation you have is to leave the next President enough money and borrowing power to rescue the economy by other, 'New Deal'-style means after this fails. If excess borrowing to finance this moneypit is extreme enough to tank the dollar, the gov't will be broke just when the economy desperately needs help." Clearly we are on the same page about the primacy of job creation.

Unfortunately one of the rewrites in the version that became law, as opposed to Dodd's Senate version, was to add a requirement for an additional Congressional vote if any of the $700B authorization is to be withheld. (Read my Sep. 29th description of the provisions and changes of the bill as it went for the 2nd vote: http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=4118292&mesg_id=4118292 ). Sadly, I don't see it happening.

Watch out, MM; using "Obama" and "crap" in the same sentence you, too, could wind up on DU's less-favored member list.

[midnight]

29. Couldn't agree with you more....

If we're going to spend that kind of money, let's put it into places where wt will do some good, like infrastructure projects and other investments that will immediately create jobs for working folks.

[slipslidingaway]

23. Too big to fail - and now making them even bigger...

sounds logical.

:sarcasm:


I agree they should be in jail and the idea that this problem suddenly emerged in September and we had no time to offer another plan should also be laid to rest. That old song "What Kind of Fool Am I" keep running through my head as I listened to various people sell the "improved" bailout plan.

[BayjanDem]

2. Ya GOTTA love DK.

[endless october]

4. Kucinich is one of the good guys.

[RufusTFirefly]

3. Big kick and recommendation for Dennis!

So few heroes. But he makes up for the absence.

[slipslidingaway]

5. Thanks for the replies and the R's :) n/t

[PatSeg]

6. Said so much with so few words!

Good for him.

[gtar100]

7. Wo! Dennis - straight to the bottom line.

Loved that look on Dennis' face: "Don't bullshit me, Kashkari."

[Mr_Jefferson_24]

8. K&R.

[PatSeg]

10. I posted another video of Kucinich

questioning KashKari: http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=385x240240

[Truth2Tell]

11. Damn straight! K&R nt

[JDPriestly]

12. Reminds me of those historic words "Have you no decency?"

And now, "Who are you working for?" It just says it all. That is the question of our time. Who is our government working for?

Certainly, those working on this bail-out are not working for us, for the American people. But, assuming they are not working for us, for whom are they working?

[judasdisney]

14. Wait a minute -- what was Kashkari's response?

Kashkari is working for Ergenekon. What was his answer?

[tbyg52]

17. Uh, I think Kucinich meant it more generally - us or the corporations

I think we all know the answer....

[LatteLibertine]

15. Pwned :)

nt

[pjt7]

16. Great point by DK

It's sad that so many politicians caved in to Bush's & Paulson's last hour money extortion.

[pberq]

19. Dennis is the greatest!! nt

[Metta]

21. Right freaking on. He's giving away the store.

He doesn't care. He's getting his one way or the other.

[hisownpetard]

22. Kneel, Cash&Carry.

What a name. What a travesty.

Dennis rocks!

[Greyhound]

24. Indeed. K&R

:kick: & R

[mirrera]

25. OMG! GdBLssDK!!!!!!

[xiamiam]

26. k and r...DK Rocks...nt...

[bluesmail]

27. In my mind Dennis Kucinich and Paul Wellstone are two of a kind

Working for us against the filthy rich sociopaths. Thank you Dennis Kucinich and Paul Wellstone.

[midnight]

28. In other words "What is your agenda?"

Take the money and run?

[Kaleko]

30. Kashkari & Co are working hard on privatizing a huge chunk of the US treasury.

If there is a will, we could still nationalize a lot of their loot. Just who is in for that kind of stand-up performance? Except for D. K. - who?

[kanrok]

31. Anyone else find it ironic

that his name is kash-kari?

[tbyg52]

32. I can't see that he's the best qualified in anything *but* the name,

so, yes, I suspect them of picking him for one last @#$% you to the American people.

[pleah]

33. So, what was his answer?

?

[LatteLibertine]

34. Honestly

I don't know who disgusts me more; the people running these fear mongering scams or the dimwitted dupes that buy this same nonsense over and over.

Here's a novel idea, the next time they come running with "the sky is falling" crap, call their bluff.

Let the wealthy clean up their own mess. The money from these shake downs will not go where they say and they don't deserve it. Poorly managed businesses should fail. They are doing these things because they know they can. They'd change in a hurry if Uncle Sam stopped saving them.

[defendandprotect]

35. Wow ,, beautiful .... Thanks, Sen Kucinich --!!!

[lib2DaBone]

36. I love Dennis..... he's a pisser..... lol...

..can you imagine if Pelosi and Reid were as committed to the Democratic Party as Kucinich? Our country would be in good shape.

[debunkthelies]

37. Exactly and..

that's the real question:kick: :headbang: :yourock: :woohoo: :applause: :applause: My question is why is there only one member of Congress asking the right questions?:think: :dilemma:

[jwirr]

38. What I hear most of you saying is that we should be helping the

people that fall because of these failed institutions bad policies. I think I agree. When these banks and businesses fail by their own actions they are not working and should be replaced. Market theory would tell us that when a need occurs it will be filled. Wouldn't these banks be replaced by smaller local banks if they are allowed to fail? If the big 3 fail would it not make sense for the government to buy out their stock and sell it back to the workers? It is beginning to look like we are merely throwing good money at bad investments.

I am a fan of James Howard Kuntsler and Paul Hawkens (Natural Capitalism) and it seems to me that since we are at a natural period of change (climate, economic, etc.) we should go with real change and not just propped up old wrecks. It will be very hard and the one thing I want my government to do is to make the landing for those hurt during the change easier.

[aggiesal]

39. Kashkari = Kash & Carry n/t