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Thom's blog
Lawmakers ignore Treasury Secretary Jack Lew
Treasury Secretary Jack Lew appears to have the right ideas. But, it doesn't seem like any of our elected leaders are listening. On Monday, Secretary Lew sent letters to members of the House financial services committee, urging them to uphold provisions of the Dodd-Frank Act that regulate derivatives. Yet, just one day later, a bipartisan group of law makers – including almost two dozen democrats – passed a bill through committee to do just the opposite.
In his letter, Secretary Lew explained that these provisions “constitute an important part of the reforms being put in place to strengthen our financial system by improving transparency and reducing risk for market participants.” But, the bipartisan committee advanced legislation that would allow FDIC insured banks to trade in derivatives. That means, if and when they get into trouble, the tax-payers will be on the hook – again – for the bail out. And, legislation like this ignores the fact that derivative trading was what caused our economic collapse in the first place. This is exactly what Jack Lew was warning them about.
Thankfully, this legislation isn't likely to overcome a Senate filibuster, and the White House has expressed opposition. As important as his derivatives warning was, it's not the only important statement our Treasury Secretary made this week. Yesterday, Jack Lew said, “deficit reduction alone is not an economic policy.” He called for “expanding our economy and getting people back to work” with an ambitious infrastructure program.
He knows that no nation, in the history of the world, has ever cut its way to prosperity – and we won't be the first. And our legislators need to start heeding his advice. We must invest in our nation, and our people. The question is, will lawmakers ignore Mr. Lew's warnings twice in one week? Let's hope not.
-Thom
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Daily Take: WTF-one hospital charges $8k, another $38k...?!
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Tuesday's Daily Stack
Hour One: "Too Big to Fail"- Senator Sherrod Brown, U.S. Senator (D-OH)
Article: " Letter to Joseph Milligan" by Thomas Jefferson, 6 Apr. 1816. " If the overgrown wealth of an individual be deemed dangerous to the State, the best corrective is the law of equal inheritance to all in equal degree; and the better, as this enforces a law of nature, while extra-taxation violates it."
Hour Two: Can states defy federal law?- Rob Pincus, I.C.E. Training
Hour Three: Does "slut-shaming" mark the return of the Christian Taliban?- Annie-Rose Strasser, Think Progress
Article: " 19th Amendment " The right of citizens of the United States to vote shall not be denied or abridged by the United States or by any State on account of sex."
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Wednesday on The Thom Hartmann Program, 3-6pm ET
Hour One: Would Community policing have prevented kidnapping?
Why There Won’t Be Anything New In Today’s Benghazi Hearing- Hayes Brown, National Security Reporter/Blogger-Think Progress
Operation Green Jobs- Carl Gibson, Lead Organizer-"Shut The Chamber"
Hour Two: What should be done about corporate terrorists?- Steve Malzberg
How much is a tree worth?
Hour Three: WTF: one hospital charges $8k...another $38k...?!
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Thursday on The Thom Hartmann Program, 3-6pm ET
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Watch & Listen to Thom
If The Oceans Die - We Die!
Will Wild Mustangs Be On Your Menu?
The Good - The Bad - And the Very - Very Pentapopempticly Ugly
Senator Brown & Senator Vitter join on "Too Big to Fail"
Rumble - Won't the New Internet Tax help Small Business?
Rumble - Is "Slut Shaming" the Christian Taliban on the Rise?
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Full Show 5/7/13: If the Oceans Die - We Die
Thom talks with Progressive Senator Sherrod Brown on his teaming up with Conservative Senator David Vitter to end "too big to fail." Tonight's "Big Picture Politics Panel" discusses abstinence education following Elizabeth Smart's comments, the passing of the internet sales tax and how Red-State Democrats are now criticizing Obama about his plan to cut social security. In tonight's "Daily Take" Thom discusses how fossil fuels are killing our oceans.
Thom Hartmann on the News: May 7, 2013
Hartmann: Guns Should be Treated Like Cars!
Caller: How do Men Dress Provocatively?
No Male Equivalent to Slut?
Elizabeth Smart: The Case Against Abstinence Only Education
Does 'Slut-shaming" Mark the Return of the Christian Taliban?
Hartmann Vs. Rob Pincus: Keeping Guns in Kids' Rooms?
Sherrod Brown: Break up the Big Banks!
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