September 24, 2013
I’m writing in support of a strong Dodd-Frank rule 953(b).
Disclosing corporate pay ratios between CEOs and average employees will discourage the outrageous and reckless pay practices that fueled the 2008 crash.
Knowing which corporations heap riches upon their executives while squeezing struggling employees also will be a useful factor for me when considering which businesses to support with my consumer and investment dollars.
I am aware that you are under intense pressure by business interests to weaken or abandon the rule. Do not give in. Instead, weigh your duty to protect investors and the American public against the self-serving interests of those seeking to undermine this rule.
The wealthy elites have gang raped my country, and the world! Get your priority's in order! You have to do this first!
You have to end the Corporate Coup of my country, and around the world!
"The welfare of the many, mater more than the welfare of the few, or of the one! "
See; Making the World Safe for Banksters: Syria In the Cross-hairs By Ellen Brown, Web of Debt"
In an August 2013 article titled “Larry Summers and the Secret ‘End-game’ Memo,” Greg Palast posted evidence of a secret late-1990s plan devised by Wall Street and U.S. Treasury officials to open banking to the lucrative derivatives business. To pull this off required the relaxation of banking regulations not just in the US but globally. The vehicle to be used was the Financial Services Agreement of the World Trade Organization.
The “end-game” would require not just coercing support among WTO members but taking down those countries refusing to join. Some key countries remained holdouts from the WTO, including Iraq, Libya, Iran and Syria. In these Islamic countries, banks are largely state-owned; and “usury” – charging rent for the “use” of money – is viewed as a sin, if not a crime. That puts them at odds with the Western model of rent extraction by private middlemen. Publicly-owned banks are also a threat to the mushrooming derivatives business, since governments with their own banks don’t need interest rate swaps, credit default swaps, or investment-grade ratings by private rating agencies in order to finance their operations.
Bank deregulation proceeded according to plan, and the government-sanctioned and -nurtured derivatives business mushroomed into a $700-plus trillion pyramid scheme.
"So get used to how international relations work in the age of newspeak. General Abdel Fattah al-Sisi's army in Egypt can kill hundreds of his own people who were protesting against a military coup. Washington couldn't care less - as in the coup that is not a coup and the bloodbath that is not a bloodbath."
See; Truthdigger of the Week: Ellen Brown; The Leveraged Buyout of America. By Alexander Reed Kelly "We learned during the fallout of the crisis that, with regard to the running of society, much of what bankers do today is unessential.
True, money must be created, loans must be made and we do need a place to store and exchange it all, but the bulk of Wall Street’s ongoing activities amount to little more than the transfer of existing cash (or money that it creates with the stroke of a keyboard) from the massive poor and middle-class public to the wealthy few, or from one rich person to the next. It is a beautifully constructed confidence trick that evolved over decades as an elite few sought to dismantle laws written in response to the Great Depression that ensured that the wealth created by private and public enterprise would be enjoyed by a greater share of the public.
The crash of 2008 demonstrated the dangers of letting the financial industry govern itself. Then the laughably inadequate regulatory response from Congress and the subsequent recovery-for-the-rich-only proved beyond a shadow of a doubt that the banking class owns all three branches of the U.S. government. That means that wherever it threatens the interests of the rich, political democracy exists in name only. As Truthdig columnist Chris Hedges has repeatedly said, somewhere along the line our government underwent a “corporate coup d’état in slow motion.” Through the genius wiles of private finance, the American government became a beneficence and protection racket for the rich."
The result has been a massively risky $700-plus trillion speculative derivatives bubble. Lokey quotes from an article by Bill Frezza in the January 2013 Huffington Post titled “Too-Big-To-Fail Banks Gamble With Bernanke Bucks“
See; The Armageddon Looting Machine: The Looming Mass Destruction from Derivatives. By Ellen Brown, Web of Debt "The easy subprime scams of yesteryear are no more. The void is being filled by the shadow banking system. Shadow banking comes in many forms, but the big money today is in repos and derivatives. The notional (or hypothetical) value of the derivatives market has been estimated to be as high as $1.2 quadrillion, or twenty times the GDP of all the countries of the world combined. According to Hervé Hannoun, Deputy General Manager of the Bank for International Settlements, investment banks as well as commercial banks may conduct much of their business in the shadow banking system (SBS), although most are not generally classed as SBS institutions themselves. At least one financial regulatory expert has said that regulated banking organizations are the largest shadow banks."
See; If 80% of us are in or near poverty than THERE IS NO MIDDLE CLASS.
See; Greenwald Partner Falsely Detained as Terrorist: How to Create a Dictatorship! By Juan Cole See; Obama’s Friends in Low Places, By Robert Scheer See; Cornel West and the Fight to Save the Black Prophetic Tradition! By "Chris Hedges"
See; The Death of Truth! By "Chris Hedges"
See; The Final Battle! By "Chris Hedges"
Pope Francis: Money is the root of all evil EXTRACT OF POPE'S HOMILY
(Source: Vatican Radio)
Money sickens our minds, poisons our thoughts, even poisons our faith, leading us down the path of jealousy, quarrels, suspicion and conflict. It drives to idle words and pointless discussions. It also corrupts the mind of some people that see religion as a source of profit. 'I am Catholic, I go to Mass, everyone thinks well of me... But underneath I have my businesses. I worship money'. And here we have the word we usually find in newspapers: 'Men of corrupted minds'. Money corrupts us! There's no way out.”
“We can never serve God and money at the same time. It is not possible: either one or the other. This is not Communism. It is the true Gospel! They are the Lord's words. While money begins by offering a sense of well being. Then you feel important and vanity comes. We read in the Psalm. This vanity is useless, but still you think you are important. And after vanity comes pride. Those are the three steps: wealth, vanity and pride.”
“But, Father, I read the Ten Commandments and they say nothing about the evils of money. Against which Commandment do you sin when you do something for money? Against the first one! You worship a false idol. And this is the reason: because money becomes an idol and you worship it. And that's why Jesus tells us that you cannot serve money and the living God: either one or the other. The early Fathers of the Church, in the 3rd Century, around the year 200 or 300, put it in a very blunt way, calling money 'the dung of the devil'. An so it is. Because turns us into idolatrous, fills our thoughts with pride and leads us away from our faith.”
Thank you for considering my comment,
Phillup Brinkman
Allouez, MI