Only 30 more days until this merciless dumpster fire of a year is over…
Trump and Related
Ross and Mnuchin were profiteers in a crisis that bore nearly all its misery on the backs of working people who suffered from the misfortune of acquiring a bad loan at the wrong time. But there’s a supreme irony here: The foreclosure crisis that these two moguls (and Trump himself) used as a moneymaking scheme may have handed Trump the election…
In an unusual deal with the FDIC, Mnuchin led an investment team that bought the predatory lender IndyMac, saddled with tens of thousands of failing mortgages, for $1.65 billion. The FDIC had a standard deal for buyers of crisis-era banks; they would cover all losses above the first 20 percent on loan defaults. Mnuchin, who became CEO of the lender, treated this as a money-printing machine: his bank, renamed OneWest, could foreclose on homeowners, harvest fees for appraisals and inspections and late payments, and get protected by a federal backstop. The FDIC lost $13 billion on IndyMac; Mnuchin and company made $3 billion in profits, most of that coming directly from the FDIC in loss-sharing costs.
“I just wish that I had not voted,” said Colebrook, 59. “I have no faith in our government anymore at all. They all promise you the world at the end of a stick and take it away once they get in.”
It’s worth considering that many people who voted for Trump for economic reasons may become so disillusioned with the political system that they A) disengage, taking votes away from a future populist progressive candidate/movement like Bernie Sanders/Our Revolution, and B) turn to alternative means to affect the political system. That includes violence, terrorism and/or whatever we’re calling what the Bundys did.
In other words, the “I told you so”s won’t even register…
From the Internet Archives’ post:
On November 9th in America, we woke up to a new administration promising radical change. It was a firm reminder that institutions like ours, built for the long-term, need to design for change.
In which the Rockefellers’, who started the company that became Exxon Mobil and whose wealth was made in the oil industry, take on Exxon Mobil’s funding of climate denial, etc.
Why are the Treaties of Fort Laramie from 1851 and 1868, which gave the Sioux much larger territorial claims over the land in dispute with the pipeline’s construction, not being honored by the U.S. government?
Ablavsky: In the late 19th century, Congress diminished the boundaries of the Sioux Reservation established in the 1851 and 1868 treaties. Although this violation of the treaties occurred without tribal consent, unfortunately the Supreme Court’s 1903 decision in Lone Wolf v. Hitchcock allows Congress to abrogate Indian treaties unilaterally.
For the next few months, my insatiable curiosity dragged me to conduct intense research. I learned many things: our history, our stories, our theories, our movements, and our ideas. It was inspiring.
The process taught me that I cannot just learn from digesting the narratives that our fed to us. I learned that I had to push back and dig a little deeper. I felt the deep and unrelenting sense that I couldn’t just look the other way all the time…
For the queer and trans community, this year could mark a major turning point. I worry that our future is uncertain. Now, we face something that could be more vicious and terrifying than almost anything we’ve had to fight together as a community. There will be attempts to divide us — to turn us against each other. There may be efforts to roll back legal protections that have helped us survive. There may be forces in government aimed at subjecting us to discrimination or worse. It is scary to think about.