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Member since: Sun Mar 7, 2010, 04:34 PM
Number of posts: 1,645

Journal Archives

Guess What Happened When JPMorgan's CEO Visited Elizabeth Warren's Office

A meeting between Sen. Elizabeth Warren (D-Mass.) and Jamie Dimon deteriorated almost immediately after the JPMorgan Chase & Co. CEO visited the recently elected senator and consumer advocate at her Capitol Hill office in 2013.


When the conversation turned to financial regulation and Dimon began complaining about all the burdensome rules his bank had to follow, I finally interrupted. I was polite, but definite. No, I didn’t think the biggest banks were overregulated. In fact, I couldn’t believe he was complaining about regulatory constraints less than a year after his bank had lost billions in the infamous London Whale high-risk trading episode. I said I thought the banks were still taking on too much risk and that they seemed to believe the taxpayers would bail them out -- again -- if something went wrong.

Our exchange heated up quickly. By the time we got to the Consumer Financial Protection Bureau, we weren’t quite shouting, but we were definitely raising our voices. At this point -- early in 2013 -- Rich Cordray was still serving as director of the consumer agency under a recess appointment; he hadn’t yet been confirmed by the Senate, which meant that the agency was vulnerable to legal challenges over its work. Dimon told me what he thought it would take to get Congress to confirm a director, terms that included gutting the agency’s power to regulate banks like his. By this point I was furious. Dodd-Frank had created default provisions that would automatically go into effect if there was no confirmed director, and his bank was almost certainly not in compliance with the those rules. I told him that if that happened, “I think you guys are breaking the law.”

Suddenly Dimon got quiet. He leaned back and slowly smiled. “So hit me with a fine. We can afford it.”


The Ted Cruz Speech He Did Not Want You To See

A video of Sen. Ted Cruz (R-Texas) messing up his response to President Barack Obama's State of the Union address was uploaded to YouTube and quickly removed Tuesday night.

In the video, Cruz spoke for just under a minute before pausing to try again.

"Eh, lemme start over," Cruz said before the video cut to the beginning of his remarks for a second time.

Cruz's team pulled the video from YouTube, but luckily we have it right here for you to see.


Rand Paul sells out says he wants government in religion. He likes big government!

In today's episode of "Rand Paul Sells Out," our erstwhile civil libertarian comes out with this gem:

“The First Amendment says keep government out of religion. It doesn’t say keep religion out of government.”

Rand, you are as good a constitutional lawyer as you are an ophthalmologist!

From the Christian Broadcasting Network's Brody Files:



Rand Paul Tosses Libertarian Supporters and ideals "under the bus"

Rand Paul Tosses Libertarian Supporters For The Religious Right

Rand Paul, like his father, courted the college vote with his libertarian views on national security issues. Ron Paul also held some of the religious vote by ditching those views to express his wholehearted objection to women's rights in general and abortion rights in particular.

Rand, on the other hand, has decided that he must ditch everything he courted those college kids' votes for. Check out this interview, where he panders with impunity to the hard right Christian wing of the Republican Party.

So government is bad unless it's in the face of people who love each other and women who want control of their reproductive systems. Good to know. Pay attention, young people.


Massive underground city discovered in Turkey may have housed 20,000 people or more

In 2013, workers in Turkey looking to demolish low-income housing near a Byzantine-era hilltop castle stumbled upon something extraordinary: an expansive underground city that may have housed 20,000 people or more.

In 2014, those documents led researchers to a multi-level underground village of living areas, wineries, chapels, and bezirhane-linseed presses for generating lamp oil. The research team was able to find numerous small artifacts, including stone crosses and ceramics. The artifacts reveal that the settlement was used from the Byzantine era all the way up to the Ottoman conquest, researchers said.

The team said that the newly discovered site appears to be similar to a nearby underground settlement called Derinkuyu, with airshafts and water channels designed to sustain life.


Upset By Elizabeth Warren, U.S. Banks Debate Halting Some Campaign Donations

Big Wall Street banks are so upset with U.S. Democratic Senator Elizabeth Warren's call for them to be broken up that some have discussed withholding campaign donations to Senate Democrats in symbolic protest, sources familiar with the discussions said.

Representatives from Citigroup, JPMorgan, Goldman Sachs and Bank of America, have met to discuss ways to urge Democrats, including Warren and Ohio Senator Sherrod Brown, to soften their party's tone toward Wall Street, sources familiar with the discussions said this week.


Ted Cruz is Canadian

Cruz’s official Canadian birth certificate, as posted by the Dallas Morning News, shows that Rafael Edward Cruz was born in Calgary, Alberta, on December 22, 1970. Oddly, however, the birth was not registered until December 31, leaving an unexplained gap of nine days. But where was baby Ted over Christmas, an astute birther might ask. Donald Trump could build a casino in a hole that size.

His mother would have to go to the American Embassy and file for his American citizenship. Where are those papers?

Barney Frank: Congress Has Closeted Gays

Barney Frank knows that there are members of Congress who have not come out. That's their choice unless, of course, they're behind anti-gay legislation. Then it's a problem.


Obama Care saved hospitals at least $7.4 billion over the last year

A massive expansion of insurance programs like Medicaid and a drop in emergency room visits saved hospitals at least $7.4 billion over the last year, the Obama administration announced Monday.

With millions more people covered under ObamaCare last year, hospitals faced fewer bills from patients who lacked insurance and were unable to pay. Hospitals also saw fewer emergency room visits, which rack up far higher costs and often leave hospitals with the tab.

The costs of those services — known as uncompensated care — dropped by one-fifth nationwide in 2014, according to a government report released Monday.
The Department of Health and Human Services (HHS) released the findings to mark the fifth year since the passage of ObamaCare.

Nearly 70 percent of those savings came from states that have expanded the eligibility for Medicaid under ObamaCare. The 29 states with Medicaid expansions saved a total of $5 billion last year, compared to the $2.4 billion saved in states that did not expand the program.


The DNC has no leadership!

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