Cost of running for U.S. Senate: $782 per hour.

I already assumed that Senators need to raise a lot of money to run a campaign, but I didn't know it was THIS MUCH: $782 per hour. Here's the infographic from United Republic: I can't get over these numbers: To run a campaign for Senator, you need to raise $782 PER HOUR for six years. There is no mystery as to why the system is so corrupt. Even the consciences of most good-hearted people will wilt in this terrible environment.

Continue ReadingCost of running for U.S. Senate: $782 per hour.

Bill Moyers: Congressional rejection of DISCLOSE is a disgrace

Do you care about saving your Democracy even one-tenth as much as you care about the Olympics, or going to the movies, or eating your favorite food? I challenge you to spend five minutes watching this video by Bill Moyers, and then acting on it like you really and truly give a damn. It's time to take back America. [Addendum] A friend watched this video, but asked "What can we do about this?" Here's what I suggested: Good question. For starters, we need to make a LOT of noise. Let's embarrass politicians for their inaction. Any time we have contact with politicians in public places, we need advocate for public financing of campaigns and for a constitutional amendment to reverse Citizens United. Raise this topic with friends and family who would rather talk about movies and sports. Educate them one by one as to what is at stake. We can support great organizations such as Common Cause, Public Citizen and United Republic. Support media reform by supporting organizations such as Free Press (I attend their annual conferences) Here are some of the many candidates for an Amendment to the Constitution. http://unitedrepublic.org/amendments-guide/ For further inspiration, watch this short video featuring Dylan Ratigan and his guests from United Republic.

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Continue ReadingBill Moyers: Congressional rejection of DISCLOSE is a disgrace

Bankers should be boring

The following excerpt is from the "Ideas" list from the July/August 2012 issue of The Atlantic:

During the 1950s and ’60s, financial institutions were tightly regulated. Bankers did not make money by trading for their own account but instead earned fees for providing advice to their customers and serving as a go-between for companies raising capital. Their goal was to get to know their clients well, understand their problems, and act in their best interests—somewhat like family doctors. They were not compensated absurd amounts. Wall Street was viewed as a place not for high flyers but for sober, cautious people who were perhaps a little boring. Meanwhile, the economy boomed and we had very few financial crises. Let us hope we are heading back to those days.

Continue ReadingBankers should be boring