Missouri Supreme Court gives Missouri voters the option to slap a 36% cap on payday loans

On Tuesday of this past week (July 31, 2012), the Missouri Supreme Court ruled that a ballot initiative capping the interest rate of small loans at 36% (including payday loans) will appear on the Missouri general ballot this coming November. This court decision is terrific news for the many poor, working-poor and struggling middle class people who have been victimized by predatory lenders throughout Missouri. I have previously discussed this hotly contested payday loan court case here. The payday loan industry had attacked this ballot initiative on numerous technical grounds, including constitutional issues, but in its July 31, 2012 decision, the Missouri Supreme Court shot down all of the arguments of the industry, holding that the payday initiative will go on the Missouri ballot in November. Here's the entire opinion of the Court. [More . . . ]

Continue ReadingMissouri Supreme Court gives Missouri voters the option to slap a 36% cap on payday loans

Time to remake corporations as stewards of the planet

In the June 7, 2012 edition of Nature (available online only to subscribers),Pavan Sukhdev, chief executive of environmental consulting firm GIST Advisory, offers a formula for turning corporations into environmentally responsible entities. Sukdev points out that our corporations tend to cater to rampant consumerism, and this is immensely damaging to the environment. The effects can be seen in the form of "emissions, freshwater use, pollution, waste and land-use change." Corporations have also learned to excel at "influencing government regulation, avoiding taxes and obtaining subsidies for harmful activities in order to optimize shareholder returns." [More . . . ]

Continue ReadingTime to remake corporations as stewards of the planet

Elementary Election Protest Too Muchedness

For the last few weeks I'd been receiving approximately daily post cards protesting the electric company considering a rate hike of more than a few percent in order to finance and build future power plants to replace some of the nearing dangerously obsolete ones. Some mailing came from a very liberal local politician with whom I generally agree. Someone is spending bales of money to encourage people to not-want to spend more for what they are already getting. Seems like sweeping the water downstream, to me. But I'm a Tanstaafl skeptic: Rebuilding infrastructure without incurring crippling debt does not seem like such a bad idea, my knee jerks. Also, local electric rates are lower than when I was in college, when adjusted for inflation, so it seems about time for a rate hike, anyway. Yesterday I finally got a rebuttal mailing that describes the finances behind this odd campaign: PAC affiliated with aluminum corporation at play in state Senate primaries. Yep, an aluminum company fears that it will have to raise prices, because a major part of the process of making it requires megawatts of electricity. Here's how aluminum is made, if you are at all curious: So now we know who has the profitability to outspend a huge power company on a campaign to make people do what they want to do anyway, and things are making sense, again.

Continue ReadingElementary Election Protest Too Muchedness

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.

Visit NBCNews.com for breaking news, world news, and news about the economy

Continue ReadingBill Moyers: Congressional rejection of DISCLOSE is a disgrace