Thanks to Occupy Wall Street, in the State of the Union this week President Obama struck some of his most populist themes yet. He wants to tax millionaires, bring back manufacturing and prosecute the big banks. He touted his Wall Street reforms saying the big banks are "no longer allowed to make risky bets with customers deposits" and "the rest of us aren't bailing you out ever again."
But are we safe from the next big bank bailout? Many experts are dubious and Wednesday the consumer advocacy group Public Citizen decided to test the theory in the most direct way possible. They used the administrative law process to formally petition the nation's top bank regulators to move swiftly to break up Bank of America (BofA) asserting in their petition: "The bank poses a grave threat to U.S. financial stability by any reasonable definition of that phrase."
While volunteer after volunteer from each of Wisconsin's 72 counties marched into the state's election board to deposit over one million signatures for the recall of Wisconsin Governor Scott Walker, Walker was nowhere to be found.
At the hour petitions were being deposited on January 17, Mother Jones revealed that Walker was scheduled to attend a high-dollar fundraiser in the heart of the New York's financial district at 339 Park Avenue -- the towering headquarters for global financial giant CitiGroup. The $5,000 per couple fundraiser was hosted by none other than Maurice "Hank" Greenberg, former CEO of AIG.
The journey I embarked on when I made the decision to leave a successful career in the health insurance business was a spiritual one. I can trace the decision to a true epiphany, to the very moment I saw hundreds of people standing, soaking wet, in long, slow-moving lines, waiting to get medical care that was being provided in animal stalls at a fairground in Wise County, Virginia.
January 21 marks the second anniversary of Citizens United v. F.E.C., where a narrow majority of the U.S. Supreme Court asserted that the Constitution prevents Congress from limiting the amount of money that can be spent influencing our elections. The Center for Media and Democracy is working with a constellation of groups in support of amending the Constitution to reverse the decision and address the distortion of the democratic process.
January 20 marks the second anniversary of the U.S. Supreme Court's disastrous decision in Citizens United v. F.E.C., where a narrow majority of the Court asserted that the Constitution prevents Congress from limiting the amount of money that can be spent influencing our elections. A series of events are planned this week to mobilize opposition to the decision and to generate support for a constitutional amendment to reverse it.
With its stock scraping bottom at just over $6.00 a share, its image reeling from a failed attempt to to stick its customers with a $5.00 per month debit card fee, and accusations of thousands of fraudulent foreclosures, Bank of America is undertaking another effort to improve its image. Heading up the makeover attempt is Anne M. Finucane, BofA's Global Strategy and Marketing Officer. Ms. Finucane knows better than most the depths of the trouble BofA is in. The New York Times dubs her the bank's chief "image officer" and says she and the bank stumbled badly with their failed attempt to impose a $5 monthly debit card fee -- a policy that failed after a massive uprising against the fee by BofA's customers. To her credit, Ms. Finucane says that BofA's damaged reputation "cannot be fixed with just a few new slogans. ... In order to repair reputation, you have to repair the issues that underlie" the problems, she says. But how this behemoth bank is going to improve its image when almost every week there is another story of a wrongful or needlessly cruel foreclosure, such as last week's news that a man was losing his home over an $.80 cent error, is anyones guess. BofA spends $1.55 billion/year on marketing in the U.S. alone. Fincucane has reportedly initiated a review of the company's advertising agencies, and selected agencies will be invited to pitch ideas for new marketing strategies to help improve the company's image.
In the 1970s, Nordic countries were among the first to adopt policies against tobacco, like bans on cigarette advertising, health warning labels and smoke-free laws, but U.S.-owned tobacco companies, and particularly Philip Morris, makers of Marlboro, became concerned such polices could spread to America and other developed countries where they sold cigarettes. Also, Europe's first product liability case against the tobacco industry occurred in Finland in 1988, when a smoker sued several companies claiming their products caused his illness, causing even more concern for global tobacco companies. To help escape product liability claims, Nordic tobacco companies -- like Amer Tobacco and Rettig, which distributed Philip Morris and R.J. Reynolds brands, respectively -- long claimed to be ignorant of, and denied participation in the multinational tobacco companies' global strategies to undermine anti-tobacco policies, but industry documents reveal the truth -- that smaller Nordic tobacco companies did, in fact, participate in the multinational companies’ long-time conspiracy to deny the health dangers of smoking and undermine anti-tobacco policies, helping delay key effective tobacco control measures, and particularly smoke-free laws, for years.
With the 2012 legislative season and another episode of the Great American Campaign Circus dawning over the nation, Arizona may find itself the proving grounds for possible reform in the age of "pay-to-play" politics.
That would be breaking news to both traditional press and the online media that have been blocked from ALEC meetings and are increasingly being threatened with arrest.
While Mitt Romney came out ahead in New Hampshire, his front-runner status will soon be under the gun by some very deep pockets backing Newt Gingrich.
As previously reported by CMD, over $3 million dollars worth of ads cut by a Super PAC controlled by Mitt Romney's former aides, dropped Gingrich like a stone in Iowa. Gingrich sank from an overconfident front runner, who told ABC's Jake Tapper "I will be the nominee" on December 1, to an embittered candidate who placed fourth in Iowa a short time later.
After ineffectually whining about being totaled by Mitt Romney's "negativity" in the Iowa primary, Newt Gingrich may have decided that revenge is sweeter. A pro-Gingrich Super PAC is preparing to unleash a barrage of negativity on South Carolina voters.
Newt Gingrich's Baggage
The new Super PACs dominating the air wars in Iowa and New Hampshire were unleashed by the Citizens United revision of the First Amendment to allow individuals and corporations to give unlimited amounts of money to influence U.S. elections. Super PAC spending cannot be directly coordinated with a candidate, but provides candidates with an avenue for negative attack ads that they do not have to put their name on. (Numerous groups are calling for amending the Constitution to overturn the decision.)
The most omnipresent ad by the pro-Romney "Restore Our Future" Super PAC led with the line "You know what makes President Obama happy? Newt Gingrich's baggage." It then went on to detail a scorching list of allegations, including that Gingrich was paid $30,000 an hour by Fannie Mae and Freddie Mac, two organizations that "helped cause the financial crisis."
"I've been Romney-boated," Gingrich complained to the press in Iowa, referring to the ad campaign in 2004 launched by the group, Swift Boat Veterans for Truth, that helped sink presidential candidate John F. Kerry. According to the Campaign Media Analysis Group, 45 percent of all TV ads in Iowa have been attack ads against Gingrich, including this no-hold-barred attack by Ron Paul's campaign. (Note that Paul does not hesitate to put his name right on the ad.)
The pro-Mitt Romney Super PAC massively outspent the candidate's official presidential campaign on advertising, reportedly spending $7 million to the candidate's official $5 million so far. While Romney dodged responsibility for the negative ads, Gingrich put is succinctly: "It's very hard to run $3.5 million of negative ads and pretend it's not yours and not have people think you're being dishonest."
"The Man that Destroyed Us"
Now, a pro-Gingrich Super PAC is getting ready to unleash a world of harm on the Romney campaign. According to the New York Times, billionaire casino owner Sheldon Adelson has cut a $5 million check to the "Winning Our Future" Super PAC. Adelson has long been a Gingrich supporter.
Winning our Future just released a devastating 30 minute film, When Mitt Romney Came to Town, in advance of the South Carolina primary ten days away. The Super PAC has reserved more than $3.4 million in advertising time in the state to air clips of the movie as ads.
The ads and the film claim that as CEO of Bain Capital, a venture capital firm, Romney bought American businesses simply to shut them down. Romney describes his tenure at Bain as one in which he created "100,000 jobs." But the ad characterizes Romney and Bain "as group of corporate raiders ... more ruthless than Wall Street" and intones, "For tens of thousands of Americans, the suffering began when Mitt Romney came to town." A woman put out of work by Bain, characterizes Romney as "the man who destroyed us," a potent message in a country that currently has 25 million unemployed or underemployed citizens.
Gingrich characterized Romney and Bain as "rich people figuring out clever legal ways to loot a company," but Gingrich of course has his own private equity supporters including Blackstone Group and KKR & Co. according to the Boston Globe.
As for the truth of the matter, an old Bain prospectus obtained by the Los Angeles Timesshows a stunning 88 percent average annual rate of return under Romney's leadership. But did the firm earn this money by creating jobs or destroying them? The Washington Post recently gave Romney three Pinocchios for his unsubstantiated job claims.
Thanks to Occupy Wall Street, in the State of the Union this week President Obama struck some of his most populist themes yet. He wants to tax millionaires, bring back manufacturing and prosecute the big banks. He touted his Wall Street reforms saying the big banks are "no longer allowed to make risky bets with customers deposits" and "the rest of us aren't bailing you out ever again."
January 21 marks the second anniversary of Citizens United v. F.E.C., where a narrow majority of the U.S. Supreme Court asserted that the Constitution prevents Congress from limiting the amount of money that can be spent influencing our elections. The Center for Media and Democracy is working with a constellation of groups in support of amending the Constitution to reverse the decision and address the distortion of the democratic process.
With its stock scraping bottom at just over $6.00 a share, its image reeling from a failed attempt to to stick its customers with a $5.00 per month debit card fee, and accusations of thousands of fraudulent foreclosures, 
In the 1970s, Nordic countries were among the first to adopt policies against tobacco, like bans on cigarette advertising, health warning labels and smoke-free laws, but U.S.-owned tobacco companies, and particularly 
Confronted with a report by 