Category Archives: Banking & Lending Issues

House Dems Unveil Bill to Stop Wall Street From Destroying the Planet

“The Federal Reserve’s role is not to surrender our planet to corporate polluters and shepherd our financial system to its destruction,” said Rep. Rashida Tlaib, among the Democrats urging the Fed to end fossil fuel financing.

By Kenny Stancil, staff writer for Common Dreams.  Published 9-15-2021

The Marathon Oil refinery in St. Paul Park, MN. Photo: Tony Webster/Wikimedia/CC

Progressives on Wednesday applauded Democratic Reps. Mondaire Jones, Ayanna Pressley, and Rashida Tlaib for unveiling a bill that would prevent Wall Street from continuing to bankroll fossil fuels, the primary driver of the climate emergency.

The Fossil Free Finance Act (pdf) would require the Federal Reserve to mandate, via regulation or guidance, that all banks and other financial insitutions with more than $50 billion in assets phase out the funding of coal, oil, and gas extraction as well as industries linked to deforestation, in accordance with science-based targets for slashing carbon pollution. Continue reading

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‘A Devastating Failure’: Eviction Ban Expires as House Goes on Vacation and Biden Refuses to Act

“We’re now in an eviction emergency,” said Rep. Cori Bush. “Eleven million are now at risk of losing their homes at any moment. The House needs to reconvene and put an end to this crisis.”

By Jake Johnson, staff writer for Common Dreams. Published 8-1-2021

Capitol police tell a group it’s “prohibited to sleep on the ground” as they protest the end of the eviction moratorium. Photo: Alia Fierro/Twitter

A nationwide eviction moratorium officially expired Saturday after the Biden administration refused to extend it unilaterally and Congress failed to act in time, putting millions of people across the U.S. at risk of losing their homes in the near future as the highly virulent Delta strain tears through the country.

The CDC’s temporary eviction ban lapsed as a growing group of lawmakers and activists rallied on the steps of the U.S. Capitol to demand that Democratic leaders immediately reconvene the House and pass an extension. Many lawmakers skipped town Friday after the House adjourned for its seven-week August recess without holding a vote on prolonging the moratorium, which—while flawed—significantly curbed the number eviction filings nationwide. Continue reading

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Planet’s Vital Signs Are Reaching Dangerous ‘Tipping Points’ Amid Climate Crisis, Scientists Warn

“We need to stop treating the climate emergency as a stand-alone issue—global heating is not the sole symptom of our stressed Earth system.”

By Julia Conley, staff writer for Common Dreams. Published 7-28-2021

Human activity may be pushing the climate beyond dangerous ‘tipping points,’ say 14,000 scientists. As the extreme drought emergency continues in California, historically low water levels are visible at Lake Oroville on July 22, 2021 in Oroville, California. Photo: NOAA

More than a year after the Covid-19 pandemic shut down economies around the world and sharply reduced worldwide travel—sparking speculation among some that emissions would plummet as a result—a coalition of scientists said in a paper published Wednesday that the planet is nonetheless reaching multiple “tipping points,” with levels of sea ice melt, deforestation, and other markers revealing that urgent action is needed to mitigate the climate emergency.

“The extreme climate events and patterns that we’ve witnessed over the last several years — not to mention the last several weeks — highlight the heightened urgency with which we must address the climate crisis,” said Philip Duffy, co-author of the study and executive director of the Woodwell Climate Research Center in Massachusetts. Continue reading

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US and Israel Vote ‘No’ as 184 Nations Condemn American Blockade of Cuba

“The U.N. vote… on Cuba was a chance for President Biden to show global leadership,” said CodePink co-founder Medea Benjamin. “He failed miserably.”

By Brett Wilkins, staff writer for Common Dreams. Published 6-23-2021

New York City, April 2021. Photo: The All-Nite Images/flickr/CC

Peace and human rights advocates joined the United Nations General Assembly Wednesday in their annual condemnation of the United States’ disastrous economic embargo against Cuba.

For the 29th straight year, the members of the General Assembly voted overwhelmingly in favor of a resolution demanding an end to the 60-year U.S. economic blockade on Cuba. This year, 184 nations voted in favor of the resolution, while the U.S. and Israel voted against it. Three nations—Brazil, Colombia, and Ukraine—abstained. Continue reading

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100 years after the Tulsa Race Massacre, lessons from my grandfather

Smoke rises from damaged properties after the Tulsa race massacre in Tulsa, Oklahoma in June 1921. Oklahoma Historical Society via Getty Images

Gregory B. Fairchild, University of Virginia

When Viola Fletcher, 107, appeared before Congress in May 2021, she called for the nation to officially acknowledge the Tulsa race riot of 1921.

I know that place and year well. As is the case with Fletcher – who is one of the last living survivors of the massacre, which took place when she was 7 – the terror of the Tulsa race riot is something that has been with me for almost as long as I can remember. My grandfather, Robert Fairchild, told the story nearly a quarter-century ago to several newspapers. Continue reading

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Climate and Indigenous Protesters Across 4 Continents Pressure Banks to #DefundLine3

“Those who financially back Enbridge are directly implicated in its crimes,” says a Red Lake Anishinaabe citizen and organizer. “To put it bluntly, blood is on their hands.”

By Jessica Corbett, staff writer for Common Dreams. Published 5-7-2021

Activists across four continents held protests on Friday calling on banks to stop backing the Line 3 tar sands pipeline. (Photo: Stop the Money Pipeline)

From fake oil spills in Washington, D.C. and New York City to a “people mural” in Seattle spelling out “Defund Line 3,” climate and Indigenous protesters in 50 U.S. cities and across seven other countries spanning four continents took to the streets on Friday for a day of action pushing 20 banks to ditch the controversial tar sands pipeline.

“Against the backdrop of rising climate chaos, the continued bankrolling of Line 3 and similar oil and gas infrastructure worldwide is fueling gross and systemic violations of human rights and Indigenous peoples’ rights at a global scale,” said Carroll Muffett, president of the Center for International Environmental Law. Continue reading

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2020 Ends as It Began: With the Looming Threat of a US War With Iran

2020 began and ended with high-profile assassinations of Iranians, a buildup of the US military on Iran’s borders, and fears of another major war in the Middle East.

By Alan Macleod. Published 12-28-2020 by MintPress News

The guided-missile submarine USS Georgia transits the Strait of Hormuz in the Persian Gulf, Dec. 21, 2020. Screenshot: YouTube

Amid increasing hostility towards Tehran, the United States is building up its military presence on Iran’s borders. In the past three weeks alone, the U.S. has flown in a squadron of fighter jets and extra B-52 bombers while deploying the U.S.S. Nimitz aircraft carrier (with its strike group) and a large submarine to the Persian Gulf. This comes on top of the 2,500 troops it sent to Saudi Arabia earlier in the year, the first build-up of forces in the country in 17 years. The nuclear powered Nimitz is home to nine squadrons of fighting aircraft and has also long been rumored to carry nuclear weapons.

The military insists that all the new measures are purely “in the name of deterrence.” However, the few journalists who have paid attention to the news appear skeptical. “That’s provocation!” wrote Rania Khalek. “You’re sending this shit thousands of miles away from your border to try to provoke Iran and then playing the victim.” Continue reading

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‘This Is His Top Priority’: McConnell Advances Another Trump Judge as Covid Relief Bill Remains Unfinished

“As a government shutdown looms, and as the pandemic rages on across America, Senate Majority Leader Mitch McConnell continues to push through Trump’s judges until the very end.”

By Jake Johnson, staff writer for Common Dreams. Published 12-19-2020

Photo: THE WORLD NEWS/Twitter

Having kept the Senate in session over the weekend to complete work on a nearly $1 trillion coronavirus relief package and an omnibus government funding bill, Republican Majority Leader Mitch McConnell on Saturday moved to advance yet another of President Donald Trump’s right-wing judicial appointees as the desperately needed stimulus legislation remained unfinished.

The Republican-controlled Senate’s vote to limit debate on Thompson Michael Dietz, a Trump nominee to the U.S. Court of Federal Claims, came as Majority Whip Sen. John Thune (R-S.D.) suggested that coronavirus relief talks could spill into Monday as negotiators struggled to resolve a number of outstanding issues. Continue reading

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‘Beyond Incomprehensible’: Bipartisan Covid Relief Package Would Let Paid Sick and Family Leave Expire

“Extending emergency paid leave at the height of a pandemic is not only something we can afford, it’s something we can’t afford not to do.”

By Jake Johnson, staff writer for Common Dreams. Published 12-9-2020

Photo: THE WORLD NEWS/Twitter

An updated version of the $908 billion bipartisan coronavirus relief proposal currently under negotiation on Capitol Hill does not include an extension of federal paid sick and family leave programs set to expire at the end of the year, an omission that could deprive nearly 90 million workers of key benefits as the pandemic intensifies.

Vicki Shabo, a senior fellow at the think tank New America, told HuffPost Wednesday that the proposal’s exclusion of paid leave benefits is “an affront to all reason,” particularly given how successful the programs have been in preventing coronavirus infections. Continue reading

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With Rent Freezes About to Expire, Mnuchin Lobbies for More Wall Street Bailouts

As millions of Americans stand on the brink of economic annihilation, the money keeps flowing to Wall Street thanks to carefully contrived mechanisms to maintain a dying financial system afloat.

By Raul Diego  Published 12-4-2020 by MintPress News

Steven Mnuchin. Photo: White House

Many prophetic scenes depicted in a series of Mayan codices written in the early days of the Spanish colony, and translated and compiled in El Libro de los Libros del Chilam Balam, describe a world foreign to its original authors. But, one which was barreling down on them and their civilization even as the Mayan high priests recorded their visions for each stop on their cyclical calendar system.

The metaphors they leaned on to describe these new Western values and systems were accurate, despite having nothing comparable in their own cosmology or parallels in their relationship with the earth. In one of the most striking prophecies, the interpreting shaman warns of the days of “the golden club,” subtly alluding to the new paradigm of wealth and commercial imperatives being imposed on their world. Continue reading

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