Tag Archives: Jerome Powell

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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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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Successful GOP Repeal of ACA Would Strip Health Coverage From Millions and Give Top 0.1% a Massive Tax Cut—During a Pandemic

“If Trump gets the Supreme Court to strike down ACA, the richest 0.1% would get a tax cut of $198,000 a year, and Big Pharma would get a tax cut of $2.8 billion. But millions of seniors would pay billions more for prescription drugs, and 20 million would lose their health insurance.”

By Kenny Stancil, staff writer for Common Dreams. Published 10-6-2020

Health Care Reform Law Protests at the US Supreme Court in 2012. Photo: Elvert Barnes/CC

New research released Tuesday shows that if the Supreme Court next month sides with the Trump administration and 18 state attorneys general seeking to repeal the Affordable Care Act, more than 20 million people would lose health insurance and millions more would be forced to pay more for healthcare—in the middle of a pandemic—while Big Pharma and the richest 0.1% would enjoy major tax cuts.

“The stakes in this case, always extraordinarily high”—wrote Tara Straw and Aviva Aron-Dine in one of several reports (pdf) published this week by the Center on Budget and Policy Priorities (CBPP)—”are even higher now amidst a global pandemic and an economic crisis that has caused more people to lose health insurance and become eligible for help from the ACA.” Continue reading

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