Four litmus tests for Congress

According to consumer advocate Ed Mierzwinski, the following four reforms "seem obvious to taxpayers. Not to Wall Street." I would add that they don't seem obvious enough to most members of Congress. They should have been passed at least a year ago:

1) Will Congress enact a strong version of the Consumer Financial Protection Agency? [It needs to be independent, needs to regulate all financial products, needs to reinstate federal law as a floor, not a ceiling, of protection]. 2) Will Congress regulate the shadow markets, e.g., unregulated derivative, hedge fund, and private equity shadow markets? 3) Will Congress audit the Fed? 4) Will Congress end the too-big-to-fail system that led to taxpayer-funded TARP bailouts?
I agree with Mierzwinski that these needs are obvious. The only reason they aren't yet law is that Congress is flooded with banking industry money. It's time for Congress to show whether it has any integrity for enacting these four reforms, which constitute some very low bars, indeed. These are minimum standard that any reasonable person would immediately support. Members of Congress need to show us that they really represent the People of the U.S. by immediately voting for these four reforms.

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Tommy Chong, philosopher

Yes, this is Tommy Chong of Cheech and Chong, and if you have the time to listen this is a very inspirational talk that he gave at the Free Library of Philadelphia! In this podcast he talks about... - Corruption in the DEA and why the war on drugs is foolish but will never end - Mind altering substances as a path to enlightenment - How prison helped him - How much he loves the bible - Jesus' message to us - Spending time in an Indian sweat lodge - How to raise children ...and more! All with his trademark laid back style of humor.

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What we should all wish for our children –

Friday evening, I was fortunate enough to attend the 40th anniversary Founder's Dinner for the elementary school my daughters attended. My youngest, thankfully, is still there. She only has a year left after this one, and already I can feel the size of the hole left in my life when I no longer have the community behind its Big Red Doors to mingle with every day. This young woman, Brittany Packnett, was one of the speakers, an alumnus of the school who has gone on to make a difference in many more young lives as teacher in Washington D.C. I was in tears as I listened to her, knowing that my girls are being blessed with the same underpinnings of which she so eloquently speaks. This is what education for all children should be about. [Admin note: See also this related post on Howard Gardner's theory of Multiple Intelligences]

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Bernie Sanders discusses the power of big money and the need for publicly funded elections

How does it happen that a year after the economic crisis, Congress has enacted no real economic reform? Is it because financial corporations have spent five billion dollars on campaign contributions? Why do Americans pay the highest prices in the world for prescription drugs? Why do we have an enormous military despite the end of the cold war? Independent Senator Bernie Sanders points to the common source of the problem:

On and on it goes. The reality of Washington, to a very significant degree, is that those people who have the money are able to influence public policy. Big money controls the agenda. If you don’t have the money, you get to the end of the line. That’s the reality today. It could get worse. Right now, the Supreme Court is considering a case that could be used to open the coffers of all the big corporations to directly fund campaign ads in this country. So you would not just be dealing with political action committees and lobbyists, you would have to deal with the treasuries of large corporations. This is a huge issue. The antidote, in my view, is public funding of elections so that everybody has the opportunity to run for office without having to be beholden to powerful special interests.
Here's another issue where money is corrupting the debate: net neutrality. I agree with Sanders. In fact, I'm ready to concede that we are unable to deal with any important issue in the United States because the conversation has been thoroughly corrupted by money in the form of private campaign contributions. We desperately need publicly funded campaigns to have a chance to honestly deliberate important issues.

Continue ReadingBernie Sanders discusses the power of big money and the need for publicly funded elections