Senate

Does America Really Have to Suffer Through Yet Another Congressional Psychodrama?

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Congress at the midnight hour has passed a deal to re-open the government and raise the debt ceiling, yet this deal is amazingly short lived.  The political theater has been unbelievable and once again the problem with America's economy is completely irresponsible politics versus external events.  Instead of focusing in on the responsible thing, which of course is to not destroy the United States and global economy, the press is now having a field day with who blinked first in this very dangerous game of political chicken.

Shut Down!

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Our government, especially House Republicans, are such an embarrassment to the nation at this point it is hard to write about it.  The insanity knows no bounds as they continually play a game of chicken with the United States economy in order to get their way, even when these shenanigans are condemned by the American people.

The Great U.S. Worker Sell Out Through Comprehensive Immigration Reform

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There is a war going on and it is against the U.S. worker.  Tech companies have formed lobbyist groups, phony think tanks and social media traps.  CEOs luncheon with the President of the United States, whispering their demands in the President's ear and he heartily obliges them  Tech companies even wrote legislation, which was promptly passed by the Senate Judiciary committee under the guise of Comprehensive Immigration Reform.

Holder Claims He Can't Prosecute the the Banks Because It Would Negatively Impact the Global Economy

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Attorney General Eric Holder, the highest law enforcement officer in the land, said he cannot prosecute the big banks because that would endanger the global economy.  This is an admission the world is run by the banks and not governments or the rule of law.

Banks Launder Money With Impunity

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laundering moneyHSBC is a bank. They are also a money launderer. Last week the Senate subcommittee on investigations, part of the Senate Committee on Homeland Security and Government Affairs, issued a report (pdf) and held a hearing, U.S. Vulnerabilities to Money Laundering, Drugs, and Terrorist Financing: HSBC Case History. Contained within is a laundry list, if we can use the pun, of HSBC evil doings and how they mechanically laundry money for drug cartels, terrorists and tax evaders.

This is over a decade past 9/11 and seemingly HSBC has been operating with impunity. One of the conduits for money laundering is correspondent banking. Correspondent banking is when one financial institution provides services to another financial institution to move funds, exchange currencies, cash monetary instruments, or carry out other financial transactions. Even though in 2002, correspondent banking was recognized as a primary method to fund terrorist activities, the doors have not been shut.

Correspondent accounts continue to provide a gateway into the U.S. financial system, and wrongdoers continue to abuse that entryway.

Below is what has been done since 9/11, yet correspondent banking is alive and well.

As GOP Primaries Numb Your Brain, Congress is Up to More Tricks

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clockworkorganbraineyedropsWhile inane campaign rhetoric lulls you to sleep, forcing you to watch reruns of shipping wars until your brain melts and flows into that puddle of lost dreams and promises, Congress has been up to some things.

Remember those outrages du jour, such as using Stimulus funds to hire foreign guest workers? Remember your hard earned taxpayer dollars being used to bring in Chinese foreign workers and Chinese steel to build the Oakland Bay Bridge in California?

A very important amendment passed the Senate and was entered into Bill S.1813, MAP-21, alternatively known as the Transportation Bill. The amendment strengths the Buy America provision by closing a loophole.

Senator Sherrod Brown on the Senate Floor:

Who Let the Dogs Out - Will The Senate Man Up on China's Currency Manipulation?

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dogschaseChina is like a bunch of yelping dogs. So says Senator Sherrod Brown. When it comes to doing anything about our massive trade deficit with China, out come the pundits, corporate plants, threats and misinformation, all in an effort to stop our government from taking any action. Will the Senate actually listen to the statistics and the cries of the U.S. worker, ignore the snapping dogs, barring their teeth, nipping at their heels, and vote to do something?

Update: Yes the Senate did man up and voted for cloture, allowing the the vote for passage to occur. Here are the votes and it was 62 to 38. The bill still has to pass and Boehner is blocking the bill in the House.

Will Congress Get Tough on China's Currency Manipulation?

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china currencyFor the most part it seems the Senate likes to blow smoke when there is little fire to take action. Will this time be different?

Today the Senate voted 79 to 19 to allow Bill S. 1619: Currency Exchange Rate Oversight Reform Act of 2011, to proceed for amendments and a floor vote. The bill is a long overdue measure to provide for identification of misaligned currency. The bill provides a mechanism to require corrective action by the offending currency manipulator nation to correct the currency peg misalignment or face anti-dumping type tariffs. Reuters has a plain English summary of what the bill does. Beyond this cloture vote, the question becomes, will the Senate really do something and pass something to take on China and their flagrant undervaluing of their currency?

Uncle Sam should no longer be Uncle Sucker

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