Rotten Apple

Any wonder why I'm mad?

Last June, Apple scored a sweet publicly funded bailout plan to build a new data storage facility in Northern Nevada. That plan was agreed to on certain conditions. One of them is the completion of a business and fabrication center in Downtown Reno. Yet so far, there's still no business center in Downtown Reno.

"The project is being proposed to be completed this year," said Craig Willcut, the president and CEO of United Construction during a Reno Planning Commission meeting in late September when the project was still in the approval phase. "The tenant is planning on occupying in December, so it's a fast-track project."

Today, the land where Apple is expected to build a 15,000 square foot building in downtown is still undeveloped. An approved building permit for the project has been sitting at Reno City Hall since late October waiting for a contractor to pick it up and pay $38,961 in permitting fees, according to Reno officials.

Willcut said he could not comment on the project and calls to developers working on the project did not return phone calls seeking comment.

So what does the delay mean? Who knows.

Regardless, Apple's plan for downtown Reno is to use the Tourism Improvement District known as the Tessera District the Reno City Council approved in 2009.

By setting up shop within the district, Apple would be able to purchase its computer servers for the data center while benefiting from a 75 percent sales tax break on purchases made within the district. Data centers require regular computer server replacements, a cost that adds up over time.

Apple promised to open this business center in Downtown Reno. And the construction firm hired by Apple promised to complete and open this business center by December 2012. Yet it's January 2013, and there's still no business and fabrication center in Downtown Reno.

Is this just an innocent SNAFU? Or is there something more sinister to this? I'm reminded of what we discussed back in August.

Remember, Apple is being given $89 million worth of tax breaks. The state discounted 85% of property taxes for up to 30 years. The state also discounted all but 2% of the state sales tax for at least 4 years and up to 12 years. And Washoe County reduced Apple's effective county sales tax to a mere 0.5%. Apple got quite the sweet deal... And there's still no official contract? [...]

So we're willing to shower all this corporate welfare on Apple, but we're not willing to invest in our own people? We're willing to give Apple all the tax evasion bailouts welfare "special deals" it wants, but we're not willing to look out for our own long term economic health? Nevada, we have a problem. And it's more serious than you think.

This is why progressives and other tax reformers are so frustrated by what's been happening in Carson City. Apple scored an $89 million sweetheart deal. And Brian Sandoval touted this as "economic development". Yet so far, there's been little progress on the actual construction of at least one of Apple's promised "job creating" facilities.

What does Nevada have so far to show from the Apple bailout? That is, what does Nevada have to show other than the fact that Nevada is willing to reward companies for (mis)using our state to evade taxes elsewhere? (This is when we look at California.)

Yet when it comes to investing in real, good policies to encourage long-term economic health, Nevada is still very far behind. While Nevada government continues to dole out corporate welfare, it still can't provide the public infrastructure that's actually necessary for companies to start and grow here.

This is the chronic dysfunction that's at the center of Nevada government. And that "Gang of 63" in Carson City will need to get serious about fixing this if we're to ever have a functioning economy.

Mark Amodei... Is Still the Mining Companies' Best Friend

Well, I wouldn't expect less from the former Nevada Mining Association President who just happened to serve in the state legislature as well. Mark Amodei wants us to know that it's hard out there for the multinational mining corporations. That's why he insists we must deregulate mining some more.

The U.S. House of Representatives recently passed a bill introduced by U.S. Rep. Mark Amodei, R-Carson City, to streamline the permitting process for mining operations.

Earlier this month, H.R. 4402, the National Strategic and Critical Minerals Production Act of 2012, passed the House by a vote of 256 to 160.

The bill was the second introduced by Amodei that has passed the House since he was elected in 2011.

In his floor remarks on the bill during testimony on July 11, Amodei said the bill sets a 30-month time limit for the permitting process, unless the applicant agrees to an extension.

“This does nothing to tax law, this does nothing to safety law, this does nothing to supplant NEPA and this does nothing to supplant any state things,” Amodei said.

Oh, really? I wonder why he hasn't said that to communities across this country who will have a more difficult time protecting their natural resources if Amodei's bill becomes law. HR 4402 aims to eliminate strong environmental review of proposed mining projects and prioritize mineral extraction over conservation AND recreation for most federal lands. It's all about speeding up the permit process so mining companies can pump up their profits, even if they make people suffer in the process.

As PLAN warned earlier this year, HR 4402 takes us in the wrong direction on mining policy. It's bad enough that our state allows the mining industry to walk all over us. We'll only make matters worse if we allow for mining to weaken federal regulations necessary to protect communities from unnecessary damage.

And About That Other Case of Tax Evasion...

Perhaps there's new meaning to the term "Apple of gold stocks". Public News Service has more on what's still the biggest tax evasion scheme in Nevada's history.

Tax-research consultant David Kersten, owner of Kersten Communications, still is compiling the report but says the big picture is clear. Numerous state exemptions allow local mines to only pay taxes on about a third of the value of the precious metals they extract. Kersten says they pay a state tax of just 5 percent on that smaller value.

"So, it really works out to just $71 million on a total of $6.6 billion in the value of what they extracted."

Mining industry lobbyists say the companies also pay the modified business tax and sales tax to the general fund. But Kersten says all businesses pay that, and thinks the state is too lenient about the mining tax. He compiled the report for the Progressive Leadership Alliance of Nevada (PLAN), which will present the findings to the Mining Oversight Commision on Thursday.

Kersten, who is updating the 2009 report called "Fool's Gold," says it shows that, while Nevada ranks near the bottom in taxing mines, the industry is enjoying record profits.

"Newmont called itself the 'Apple of gold stocks.' These companies, their profits are up 20 and 30 percent, even more - and compared to a few years ago, they have huge growth in profits and production."

Of the 13 Western states where mining is active, he says Nevada is all but alone in handing out such sizable tax breaks to the industry.

"Every other state except for Alaska taxes on the gross value of gold. Nevada's unique in that it allows all of these deductions."

We've known for some time that there's a real problem with Nevada's mining tax code. This week, we're being reminded of it again. No matter how much mining industry lobbyists try to spin it, it's real and it's costing our state.

Something's got to give. That's what Nevada voters want to see. But will it finally happen?

While it's typically been incredibly difficult for any kind of mining tax reform to survive in Carson City, it may not always be this way. After all, how can the overwhelming majority of Nevadans be ignored any longer? Can we really afford to keep waking up to deja vu?

Does That Apple Still Look Rotten?

All hail Apple! The tech giant is now planning to open its iCloud data storage facility in Washoe County. And already, Governor Sandoval and a multitude of Northern Nevada politicians are hailing this as economic salvation for Reno.

Apple's comment on bringing the data center to Reno is as follows:

"We hope to build Apple's next data center in Reno to support Apple's iTunes Store, App Store and incredibly popular iCloud services. If approved, this project would expand our presence in Nevada and create hundreds of construction jobs over the next year, plus permanent jobs at the data center which will add to our existing total of nearly 400 employees in the state."

Steve Hill of from the Governor’s Office estimates the plant would bring 500 construction jobs in August. 230 direct jobs and 90 indirect jobs coming upon completion. [...]

Washoe County chairman Bob Larkin commented, saying:

"The Washoe County Board of Commissioners recognizes that, as a leader in the global economy, Apple has many choices worldwide for where they can locate and invest hundreds of millions of dollars, and the Board is extremely proud to endorse this project and be in the running to partner with them on such a prestigious economic development project. Having Apple in our community would put us on the global economic development map for other related industries.” Larkin continued, “This proposed high speed data center could bring hundreds of much needed construction jobs to our area in the coming months. In addition, Apple promises the investment of $1 billion dollars in our region over the next 10 years. The agreement to move forward with this project represents a watershed moment for our region's economic future."

Well, it's better than nothing. I just find it funny how this comes on the heels of an explosive report of Apple setting up a shell company in Reno to avoid paying California taxes. In April, there was huge outrage over Apple (mis)using us for tax evasion. But now, all of a sudden, Apple becomes this heroic figure swooping in to rescue Northern Nevada's economy? I smell something fishy here.

Indeed, the fact that it was Apple seeking the tax breaks wasn’t publicly known until 8 a.m. Tuesday, less than three hours before the Washoe County Commission unanimously signed off on a deal worth $89 million in tax abatements over 10 years.

Apple won the county commission’s endorsement in a hearing that lasted a scant 20 minutes, during which no one testified in opposition or even rose to question the tax breaks.

Instead, the developer, Apple executives and lobbyists sung the praises of the project, and commissioners almost giddily endorsed the tax incentives before posing for a photo in the commission chamber with the businessmen who brokered the deal. [...]

[Reno City Council Member Dave] Aiazzi said Apple is striking at the right time, offering a recession-stricken community the prospect of high-paying jobs.

“If everything was good and the economy was great, we may not think this is such a good deal,” Aiazzi said. “But for the people who get the jobs out there, who are saying, ‘I need the money,’ for them it’s worth it.”

Let's be real here. If this were an everyday working class Nevada person getting a sweetheart deal like this, many if these same politicians would be aghast in horror as they'd be taking their queues from teabaggers screaming, "WELFARE!!!! WELFARE!!!!!" Well, where are the teabaggers to call out the corporate welfare that the State of Nevada, Washoe County, and City of Reno are about to bestow upon Apple? So "WELFARE!!!!!" is evil if it's a working poor family trying to survive in this rough economy, but it's A-O-K for a multinational corporation like Apple? Sorry, but this is the most blatant and disgusting double standard I've ever seen!

Let's be honest here. Apple struck while the iron was hot and took advantage of Brian Sandoval's willingness to cut any kind of deal to save face and show Nevada that "he means business". Apple wins in opening a new data storage facility and paying hardly any taxes on it, while California continues to lose in not being able to collect the corporate income tax it's otherwise owed. Nevada, meanwhile, continues to be satisfied with mere economic crumbs.

Now I can't completely blame local electeds in Washoe County for taking this deal. As I said earlier, something is better than nothing. And as long as our state's "leaders" continue to pursue these "quick fix" deals instead of taking the necessary long term action to secure long-term economic health, this may actually be the best we can get for now.

But looking forward, we must demand better. Think about it. While Sandoval's office is gushing over a data storage facility, where is the real tech innovation happening? Where is the real job creation happening? Where are the exciting tech start-ups happening? Oh yeah, that's right. Maybe California isn't that much of a loser, after all? And maybe Nevada will finally consider properly investing in our future?

Mitt Romney's Bain Genie Is Out of the Bottle

Apparently, Newt Gingrich and Rick Perry committed "the unforgivable sin": They "released the kraken" that is Mitt Romney's dirtiest secret, and the GOP establishment is demanding they stuff that genie back in the bottle and toss it out to sea. Too bad for them that genies like this one really can't be recaptured and contained. This one will indeed be coming back to haunt the G-O-TEA this fall.

“I would have preferred to wait, yes, to keep the bottle of whup-ass fresher,” one Obama campaign strategist told TPM. “At the same time — and this is important to note — having the Republicans eat their own actually makes the Bain story more potent than we ever could because it instantly validates it as a line of attack and falls on independent ears as a matter of legitimate debate, not as a partisan line of attack.”

And when the real Bain attack comes, it will be anything but old news to the voters it needs to reach. After all, it’s hardcore Republicans who are paying the closest attention to the GOP campaign and its Bain moment right now, and they’re not voting for President Obama anytime soon.

“This isn’t a primary attack in the first place — it’s why we haven’t put any resources behind Romney as a corporate buyout specialist at this stage — it’s a general election issue for independent and swing voters in places like Ohio, Michigan, Pennsylvania, and Indiana,” a senior Democratic strategist told TPM. “We were shocked that his rivals went there but nonetheless pleased because now the charges about his status as a corporate raider enjoy the lustre of bipartisan ship.”

Again, don't forget who started this. REPUBLICANS have been looking to take advantage of this. And REPUBLICANS are leery of what Mitt Romney did at Bain Capital. It doesn't matter what Sheldon Adelson says about his own views on Mitt Romney. That he gave money to the pro-Newt Gingrich Super PAC that made no attempt to hide its plan to drop this "Newt-ron bomb" on South Carolina speaks volumes.

It also speaks volumes that the RNC is begging its own not to mention Mitt Romney's stint at Bain Capital, and that Romney himself says that matters of economic injustice are only allowed to be discussed "in quiet rooms".

Yes, this is what Romney believes should only be discussed in "quiet rooms". And considering his part in this as head of Bain Capital, we can now see why. But unfortunately for him, President Obama and his advisors are not staying quiet on the #1 issue on American voters' minds.



Again, the contrast couldn't be any greater. Romney profits off government sponsored corporate welfare, then he says discussions of economic inequality are all "about envy". Romney lies about President Obama's economic record, then his GOP establishment surrogates throw a temper tantrum when anyone tries to tell the truth about Mitt Romney's record at Bain Capital. And we're supposed to believe he can boost job creation as US President?

Romney is clearly angry that this election may very well be decided on matters of economic inequality... Especially since he's the one who stands to lose the most from it.

Why Occupy?

Yesterday, this happened in Northern California.

At the University of California at Davis this afternoon, police tore down down the tents of students inspired by the Occupy Wall Street movement, and arrested those who stood in their way. Others peacefully demanded that police release the arrested.

In the video above, you see [UC Davis Police Lt. John Pike] walk down a line of those young people seated quietly on the ground in an act of nonviolent civil disobedience, and spray them all with pepper spray at very close range. He is clearing a path for fellow officers to walk through and arrest more students, but it's as if he's dousing a row of bugs with insecticide.

Wayne Tilcock of the Davis-Enterprise newspaper has a gallery of photographs from the incident[...]. Ten people in this scene were arrested, nine of whom were current UC Davis students. At least one woman is reported to have been taken away in an ambulance with chemical burns.

The Davis Enterprise has even more scenes from yesterday's brutal show of force. So why did this happen?

Look at UC Davis getting shortchanged again. Look at rising tuitions. What used to be "The American Dream" has become a horrid nightmare as college education has become increasingly unaffordable for working class families.

Yet again, the 99% are under attack... And the 1% are striking back.

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If you were wondering why protesters have been risking it all, even their very lives (as the occupiers at UC Davis did), here's why. The American Banking Association's lobbyists want them to spend $850,000 on opposition research alone! And then, they want to not only smear Occupy's already controversial public image, but also use Occupy to hurt Democratic candidates across the country.

This is the intersection of crony capitalism and political corruption that has more and more Americans up in arms. When they see that the $222.7 BILLION in taxes that big corporations avoided paying could have created over 100,000 jobs in education, they get angry. And when they see that billionaires continue to abuse the tax code to avoid paying taxes, they get angrier. Is there any wonder why people are hitting the streets? It's just sad to see such brutal force being used on protesters.

As we were talking about yesterday, stuff like this can easily discourage people from taking action. However, we simply can't allow apathy to take hold. What do you think creates this?

Endure THIS! Everything They "Know" Is Wrong.

Well, isn't this lovely? Nevada's biggest beneficiaries of government largesse now bite the hands that built them and tell us to "endure the pain".

“You can’t argue gloom and doom. People don’t want to hear it right now, not when hundreds of thousands remain out of work or have had their hours cut.” [...]

In a March 8 letter to faculty and students at UNLV’s Boyd Law School, Smatresk wrote of likely tuition increases to counter lost revenue from budget cutting: “These additional increases will undermine the law school’s successful formula and render it a mediocre institution.”

He’s also been quoted as saying “we’ve already squeezed the blood from the stone. This is horrific to talk about people like this.”

The Strip [casino executive] counseled Smatresk that UNLV should endure the pain during the current legislative session, then he should reach out for a communitywide commitment to rebuild the university during upcoming sessions.

“Neal heard the message, and he’s seemed to have softened his approach,” the second executive said.

Corporate executives and education reform advocates want to hear talk of academic, spending and administrative reform by the university and School District. They do not want the debate to be purely focused on the spending side of the equation.

"Endure the pain"? Really? I don't remember MGM Resorts doing that when they came close to bankruptcy and losing CityCenter. Nope, instead they reached out to Harry Reid and had him call the banks to secure the funding needed to save the project (and the company, and The Las Vegas Strip!).

"Endure the pain"? Seriously? I don't remember Caesars Entertainment doing that when they came close to going bankrupt as all their debts were catching up to them. Nope, instead they reached out to Harry Reid and had him insert a provision in The Recovery Act so they can restructure their debt and stay afloat (which also helped keep The Strip afloat!).

"Endure the pain"? The gaming industry didn't have to do too much of that, and they've always been able to snatch a life preserver when needed. But when our state is failing, our schools are about to be obliterated, and our chance at basic survival is iffy at the moment, we're told to just suck it up and "endure the pain"?

No more. We the people have endured enough.

Why is it that casino execs and their Wall Street corporate fat cat buddies can roll in the bailout money provided by our tax dollars, but then whey whine and scream and throw a fit and demand "reform" when we're trying to stay in school, get better jobs, and make better lives? We the people are being responsible, yet we have to "endure the pain" while they get help whenever they need/want it?

UNLV tuition has nearly doubled in the last 3 years, and it's slated to be raised even higher if "benevolent butcher" Sandoval's budget is adopted. In the mean time, 6 academic departments have been eliminated and more are slated to be axed if Sandoval gets his way. Many teachers and staff have already been laid off, and 350 more may be out of work if Brian's brutal budget is passed. Sorry, anonymous casino executive, but we have already "endured the pain" and we shouldn't be forced to endure our own community's death because a few big mining conglomerates and other
multinational corporations refuse to pay their fair share.

If that anonymous gaming exec were serious about making those "endure the pain" who have been sheltered for far too long, he would call his Carson City lobbyists and at least tell them not to whip against AB 336 and AB 428, simple bills that would respectively enact a long needed net-profits tax on large corporations (AB 336) and reduce the most heinous mining tax deductions (AB 428) that allow the mining industry to get away with getting something for nothing.

Elliott Parker, esteemed economist at UNR, had to go to Nevada Appeal last week to appeal to Governor Sandoval to remember common sense.

[... W]e are deciding which faculty to fire, and which students will lose their degree programs. These are productive faculty who have worked hard, to help us improve this university. We have been cutting budgets by firing many good people over the past four years. This is really getting old, and it is completely reversing years of effort to make Nevadans proud of their oldest university.

My university alone has already lost 350 positions, mostly very educated people who then left the state — and Nevada already has too few of those. Now we have 150 more jobs on the block, and many more to come since we are less than halfway to your target. We aren't that big of a university, and these cuts are starting to cripple us. Your proposals will do incredible damage.

You are mistaken when you say these cuts are best for the state's economy. As an economist who looks at the data, I know these cuts are bad for the economy. Cutting state expenditures during a recession, especially educational expenditures, makes the economy worse, not better.

We know that education matters for the future of the state, both K-12 and higher education. Without our monopoly on gambling, Nevada doesn't have many resources, but nowadays the most productive resource is in the knowledge and skills of the workforce. It will take many years to undo the damage we are doing now.

This is a death spiral. If we gut higher education, productive people and productive investment will flow out of the state, not in.

We know this is not a temporary problem. Gaming is a much smaller share of our economy than it used to be, even though our state budget still largely depends on it. We have known for years that we need a tax system that better reflects our economy, a tax system that can apply low rates to a much, much broader base. Yet we keep procrastinating on the solution.

The budget problem is not too big to solve. While the state's budget gap is a large fraction of the general fund, it is only 1 percent of our state economy. For the average resident, it is roughly the cost of eating out once a month.

And he's correct. We can't endure any more of this pain. It's killing us, and it's time to start letting our state and our people heal.

Ultimately, a diversified economy will help the gaming industry in that it will lessen their tax burden here in Nevada. I guess that's why this strange rant surprised me. I know MGM and Caesars and other Nevada gaming companies haven't had the easiest of times, but we're not asking anything unreasonable from them. In fact, none of the bills mentioned above even affect them!

So instead of forcing working class Nevadans to endure any more lethal "pain", why not let our state heal, make us less dependent upon the casinos, and invest in our schools that we so badly need to produce the kind of educated workforce that will make our economy healthier in the long run?

It's the Schools, Stupid!

How many times have I had to say this? The Sun has yet another article pointing this out, and even Ralston is admitting the obvious on Twitter.

IT'S THE SCHOOLS, STUPID!

How many more times must I explain this? With inadequate schools, new companies won't move here. Businesses are now looking for a more educated workforce, and Nevada can't provide that with underfunded, overcrowded, underperforming, overburdened, and all around collapsing K-12 schools and colleges. Without good schools, we'll never have the foundation needed for a more stable economy and lasting jobs.

But do enough legislators understand this? Do they really want to continue being penny wise and pound foolish? Do they want to force Clark County School District to sue them for inadequate funding? Do they really want to "beggar thy neighbor" by forcing unfunded mandates onto local governments? Or are they finally ready to make a change and do the right thing?

Everything we "know" on the budget is wrong. The revenue is there. The mining industry can certainly afford to pay its fair share, and so can other large multinational corporations taking advantage of our consumer dollars while refusing to pay what we pay. Our system is broken, our state is failing, and we can no longer afford to ignore this crisis.



Bills like AB 428 must be passed this session. The mining industry must pay its fair share, and other large corporations must pay their fair share. Small businesses can't be forced to bear the burden of a collapsing state, and working class Nevadans can't afford to be taxed by way of the rising costs of failing schools and crumbling public infrastructure.



IT'S THE SCHOOLS, STUPID!

There's a reason why over 1,500 students from throughout Nevada, from Elko to Reno to Henderson, stormed Carson City last week. There's a reason why more and more business leaders are speaking the truth on the state of Nevada's schools. And there's a reason why mining industry lobbyists are now running scared. They all know the key to a successful Nevada is good education, and they all realize we must raise revenue in a fair and just manner to save our state. They also know we have the power to make it happen. Let's do it.

The Facts on Sharrontology & Social Security

(Btw, as always, Desert Beacon gets even wonkier with more facts on Social Security and Sharrontology's factless drivel.)



So now, Sharrontology Obtuse Angle claims she isn't really for abolishing Social Security... Even though she is. And the media are chattering away about why we're not seeing more "open dialogue on reforming Social Security". Sound familiar? It should. George Bush tried this exact same tactic in 2005, and the corporate media were cheerleading it on until the waves of protests all over the country killed the proposal...

Or did it? It seems Sharrontology wants to revive it. And like Bush in 2005, she's using the same ol' "It's going broke!!!!" scare tactics to goad us into letting her throw starving seniors onto the streets to "fend for themselves" like they should in a "free market".

So here's the problem. Obtuse Angle isn't giving us the full story. Social Security is NOT "going broke".



I know, I know. It's not as dramatic as the "Oh noezzz, Social Security is BROKE!!!!" storyline you hear in the corporate media and you see parroted by radical right GOoPers like Sharrontology. But let's face it, there's no real "CRISIS!!!!" here.

And looking at the long-term funding issues, there are simple solutions that can be used, such as changing the cap on the Social Security tax (currently no income over $97,000 per year is taxed), simply stopping the constant raids into the Social Security Trust Fund (to pay for things like the Bush Tax Cuts and the Iraq War), and rethinking our budget priorities (hint: our military budget is over three times the amount of our Social Security budget). Again, I know this isn't dramatic enough for the media to salivate over like the discredited "Social Security MUST be reformed (read privatized)!!!!" storyline. But hey, isn't it better to look at real solutions to the real problems rather than get all dramatic over nothing?

And in Sharrontology's case, her favored "solution" would cause far more problems if implemented. You know how she and her teabagger army whine and scream and complain about "bailouts", even if they're nonexistent? Well, how do you think state governments would cope if Social Security were privatized, millions of seniors didn't rack up the savings Sharrontology promised they would, and the State of Nevada was left holding the bag for the feds' failure in ruining Social Security? Guess what we'd need: A BAILOUT!! Nevada would need at least $3.4 billion to fix the privatization hot mess, and the overall federal bailout to states would cost at least $601 billion!

Talk about Sharrontology's folly! And this is just the start...



You really want her directing your future retirement?

NV-Sen: Suzy Lowdown Gets "Truthy" on "Government Bailouts"

Another day, another Suzy Lowdown scandal in the making... Put this one in the "I'm not for socialism, except when it makes me more money" files.

Remember when Ms. Suzy proclaimed her outright hatred of the TARP bailouts last October, even going as far as to claim that she "never received any bailout or stimulus money"? And how she immediately back-tracked and flip-flopped in January?

Lowden had different reactions to the bank bail-out legislation and the stimulus package.

On bail-out spending: “It's easy to say, no, I wouldn't have voted for it. But people were panicked, we were facing collapse — that's what they were saying. It's easy to say from a distance I would have voted no, but I can't do that.”

On the stimulus, she said she would have been a definite no: “All you're doing is taking money from one person and putting it in the pocket of another person. They should have put money into people's pockets.”

Oh yes, that's right. We all know how Suzy Lowdown loves to put other people's money in her own pocket, no matter how illegal or unethical it is. And when remembering this, we discover why Suzy Lowdown keeps flip-flopping on TARP.

Colonial BancGroup claimed to have received $550 billion in TARP "bailout" funds in December 2008. OK, so why is this important? Suzy Lowdown's Archon Corporation received a $29 million credit line with Colonial in May 2008. This would have been impossible for Colonial to maintain if they were not asking for TARP funds.

But wait, Suzy Lowdown asked for Archon's line of credit in May 2008. There's no way she would have known it would later ask for a government bailout... Right? WRONG! She served on Colonial's board, so she very well knew about it. (Even though it was later revealed that Colonial did not qualify for TARP funds... So where was Ms. Suzy then and why did she allow the company whose board of directors she sat on to outright lie about receiving TARP funds??!!)

And hold on, it gets even worse. Colonial actually did end up receiving a government bailout, but only in the form of the FDIC stepping in when the bank failed, absorbing its losses, and selling its assets to BB&T. Now BB&T had already received $3.1 billion in TARP funds, and right after BB&T absorbed all of Colonial's client's accounts, none other than Suzy Lowdown reappears and gets Archon approved for another $29 million line of credit... Just 2 months before Ms. Suzy would jet over to Elko and claim that she "never received any bailout or stimulus money"!

And now? Oh now, Ms. Suzy's media people are claiming, “Sue would not have voted for the TARP or any of the other bailout bills in Congress ... period.” Oh no, Suzy Lowdown doesn't roll like that... She just claims not to support "government bailouts" while her own company benefits from those very "government bailouts"! I guess Jon Ralston didn't (yet) even know half of this story.

And by the way, my dear blog followers, it would have been super easy to just cut and paste the Reid campaign's latest dossier on Suzy Lowdown's bailout hypocrisy here... But because I love you more than that, I did my own research before posting any of this here. After all, this isn't some Republican propaganda outfit. We appreciate the real facts here, and I'll keep doing my best to provide the facts and "call 'em as I see 'em". :-)

Republicans in Trouble?

So the Republicans really want to run on repealing health care reform because it's so "unpopular"? Oops.

Americans by 9 percentage points have a favorable view of the health care overhaul that President Obama signed into law Tuesday, a USA TODAY/Gallup Poll finds, a notable turnaround from surveys before the vote that showed a plurality against it.

By 49%-40% those surveyed say it was "a good thing" rather than a bad one that Congress passed the bill. Half describe their reaction in positive terms, as "enthusiastic" or "pleased," while about four in 10 describe it in negative ways, as "disappointed" or "angry."

The largest single group, 48%, calls the bill "a good first step" that should be followed by more action on health care. An additional 4% also have a favorable view, saying the bill makes the most important changes needed in the nation's health care system.

It hasn't even been 48 hours since the House passed the health care reform package and 12 hours since the President signed the Senate bill into law. For poll numbers to shift this much this quickly is amazing. And no, it's not good news for John McCain.

Even "Big Business Spokesguy" Jack Welch admitted on CNBC this morning that Republicans will "be in for an awful shock" if they think a campaign for repealing health care reform will be a winner. (If you can't handle all the far right commentary crap, skip the first 15 minutes.)



And Jack Welch isn't the only one realizing this (even if he's one of the only ones weeping over it):

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Need I say more? Well, I guess I'll have to when they crap all over Southern Nevada this weekend.

Earth to Harry Reid: Change. Course. NOW!

Yeah... Massachusetts just turned a little redder tonight. Ted Kennedy is rolling in his grave. Democrats blew it... AGAIN! All of a sudden, "hope" and "change" are getting lost in tea bags.

I'm sure Rahm Emmanuel and all the other lying, cheating, corporatist hacks that have turned President Obama's mandate into trash will try to make this teaching moment into a "let's strengthen the Blue Dog hand to make ourselves look more like Republicans!" moment, but that's absolutely WRONG.

Former Nevada Netroots Maven (and still one of my fave progressive bloggers) Taylor Marsh explained this perfectly over the weekend:

Obama and the Democrats are trying to cram through a health care bill that many feel will come back to haunt us all. Like JoeBeets, many other Democrats are against this action, but we’re being asked to hold our nose and support what’s going on, as if health care is the only problem with the current leadership. It isn’t.

There will always be a group of Democrats who will chide people who have had enough of Democratic promises on the altar of selling out, saying that more time is required, Republicans are worse. What these people ignore is that if you never say enough is enough it’s very unlikely you’ll ever get real change, because politicians only take you seriously when you make them hurt.

The “they have nowhere else to go” theory of Democratic Party allegiance is wrong on multiple levels. Starting with the reality that if people can’t tell Democratic politicians and their policies from what’s coming from the right, as Democrats sell out women’s civil rights, while ignoring equality for gays and lesbians, including when these people are willing to die for their country, then it makes little difference who’s in office anymore. Especially when Democrats are as cozy with Wall Street as Republicans.

To be taken seriously you have to play rough. [...] But I wouldn’t count on ["nose holding"] working beyond 2010.

And she's making some more good points now. And hey, doesn't Taylor make more sense than these idiots?



Oh yes, and props to what Digby says.

Ok. Eight or nine months ago the villagers were all saying that the Republicans were eating at each other and that it wasn't very smart. And the Republicans told them to go to hell, Fox News started the tea party movement and the right wing media in general launched what seemed like a lunatic campaign to demonize Barack Obama as a socialist. All that seems to be working pretty well for them at the moment, so [Politico hack Mike] Allen's admonishment doesn't make a lot of sense.

In fact, the only lesson to be learned is to not listen to anything the village media says. Ever. The Republicans learned that a long time ago. The Democrats need to learn it too.

If I could have a word with Harry Reid right now, I'd say this. Tomorrow is another day. There's no reason to worry about the early and faulty political obituaries now... If Democrats shape up NOW, stop giving into DLC/Blue Dog/corporatist bullshit, stop coddling Wall Street fat cats, and start working for we the people ASAP!

Get the damned health care bill done, then stop talking about any more corporate bailouts and start spending that TARP money on job creation. Stop bribing ConservaDems to vote for craptastic HMO/PhRMA bailouts and coal/oil/nuke/fossil fuel giveaways, and start reasserting majority rule to get real progress made on issues like health care and climate change that people still care about. And finally, just shut out whatever White House fools that have ruined President Obama's "political capital" and pay attention to Peter Daou.

The case by progressives that Democrats are undermining themselves with faux-bipartisanship and tepid policies gets much closer to the heart of the problem. I've written a number of posts arguing that it's all a matter of values and ethics. In essence: when you fail to govern based on a morally sound, well-articulated, solidly-grounded set of ideals, you look weak. All the legislative wins in the world won't change that. People gravitate to people who exude moral authority. The vast majority of voters lack the detailed policy knowledge that would enable them to make an accurate assessment of policy differences, but they do have a visceral sense of when a candidate or an elected official believes in something and fights for it. It's why campaigns are laden with moral arguments; politicians ask to be elected because they'll "do the right thing." The right thing in the current administration's case was to be the anti-Bush, nothing more, nothing less. The ethical antidote to a radical administration. It was both politically smart and morally right. And it worked wonders for Democrats as the entire subtext of the 2008 campaign. [...]

Progressive bloggers have been jumping up and down, yelling at their Democratic leaders that the path of compromise and pragmatism only goes so far. The limit is when you start compromising away your core values.

I sincerely hope that's the lesson learned today.

Will someone please forward this to Harry Reid and cc this to Nancy Pelosi, Barack Obama, and whoever replaces that dumbass Tim Kaine at the DNC (please, fire him!)?

Health Care: Call Harry Reid and Tell Him "No Option, No Mandate!"

I just called Harry Reid's office on health care again, and I'm hoping you will, too.

So here's how it went. I tried calling Senator Reid's DC office, and no one answered. I then tried the Las Vegas office, and fortunately a staffer answered when I tried the local office for the second time.

The staffer wouldn't make any commitments as he told me that nothing has been finalized yet. I asked him to ask Senator Reid to either fight his hardest to keep a public option in the health care bill, or at least drop the individual mandate to buy private insurance if a public option agreement can't be reached.

The staffer promised to give Reid my message.

Now I know my lone voice only counts so much, so I'm counting on you to do the same thing. Please join me and my DFA friends in calling our Senator and demanding he either fight harder for the public option, or at least drop the individual mandate to prevent criminalizing good people who can't afford crappy HMOs.

And if someone from Reid's office gets frustrated at you, remind him/her that we are doing this to HELP Reid and other Democrats.

Without the choice of a public option, forcing Americans to buy health insurance isn't just bad policy, it's political disaster for Democrats -- a ticking time-bomb for years to come.

Does anyone think Republicans won't use this against Democrats in 2010?

What about in 2014 after the mandate goes into effect and the press reports all the horror stories of Americans forced to choose between paying their monthly health insurance bill to Aetna or paying rent?

The mandate is toxic and Democrats will own it. By the 2016 presidential election, is there any wonder how this will play out for Democrats?

Hell, I'll say this may cost Obama his reelection in 2012 if he pursues the "forced HMO LeiberCare mandate"! And if someone from The White House or the Congressional "leadership" reminds you that "there are still good things in the bill", remind them that Sarah Palin has already promised to repeal the entire bill if she becomes President. And again, this individual mandate is so toxic that this may even give her a real opening in 2012.

Oh, and by the way, did I mention this is just plain BAD POLICY?

Here's the deal, Senate leaders are all over Washington claiming they finally have a healthcare reform bill they can pass, as long as they remove the public option. After all, they say, even without a public option, the bill still "covers 30 million more Americans." The problem is that's not really true.

What they are actually talking about is something called the "individual mandate." That's a section of the law that requires every single American buy health insurance or break the law and face penalties and fines. So, the bill doesn't actually "cover" 30 million more Americans -- instead it makes them criminals if they don't buy insurance from the same companies that got us into this mess.

A public option would have provided the competition needed to drive down costs and improve coverage. It would have kept insurance companies honest by providing an affordable alternative Americans can trust. That's why, without a public option, this bill is almost a trillion dollar taxpayer giveaway to insurance companies.

Again, this is a craptastic deal that "Holy Joe" Loserman is trying to force upon Democrats. We need to urge Harry Reid to reject this bogus "deal" and move forward with a real bill that will really help us. Please call Harry Reid's DC office at (202) 224-3542, his Las Vegas office at (702) 388-5020, his Reno office at (775) 686-5750, and/or his Carson City office at (775) 882-7343, and ask him to either fight like hell for a real public option or at least drop the individual mandate from the bill!

Health Care: No Mo' Public Option? UPDATED with Reid's Promise That "Public Option Is Still in Bill"

UPDATE (10:40 PM): We finally have a clearer statement from Harry Reid...

In his comments to reporters, Reid said the emerging compromise "includes a public option and will help ensure the American people win in two ways: one, insurance companies will face more competition, and two, the American people will have more choices."

It wasn't clear what he meant by a "public option," the Medicare expansion or a fallback in case private insurance companies declined to participate in the nationwide plan envisioned to be overseen by the Office of Personnel Management. One possibility was for the agency to set up a government-run plan, either national in scope or on a state-by-state basis.

Under the tentative agreement, liberals lost their bid to expand Medicaid, the federal-state program that provides health care for the poor, elderly and disabled. But they prevailed on the Medicare expansion, and the negotiators appeared ready to maintain a separate health care program for children until 2013, two years longer than the bill currently calls for, according to officials familiar with the details.

Additionally, there was consensus support for a requirement long backed by Sen. Jay Rockefeller, D-W.Va., and other liberals for insurance companies to spend at least 90 percent of their premium income providing benefits, a step that supporters argue effectively limits their spending on advertising, salaries, promotional efforts and profits.

Except that we still don't know for sure what this "public option" is. The Medicare buy-in ONLY available to those aged 55-64? Or the still for-profit plans to be overseen by the federal government a la the federal employee plans? Or the "Olympia Snowe Trigger" that's designed never to actually trigger a public option? Or something resembling a real Medicare-like plan open to more people? Maybe all of the above?

Stay tuned here at Nevada Progressive for more updates on this late breaking news of the Senate health care bill. I'm still trying to figure out what all of this means. And once we find the truth of the matter here, we'll let you know... And explain why we're either relieved or furious.

.......

OK, I don't know what the f*ck to think now.

Is Open Left right?

Now, it looks like a deal has been struck in the Senate to replace the opt-out public option for a weak Medicare buy-in. There were reason [sic] to be interested in the Medicare buy-in, but the current deal will only be open to Americans between the ages of 55 and 64 who are uninsured.

Or NYT?

But Democratic aides said that the group had tentatively agreed on a proposal that would replace a government-run health care plan with a menu of new national, privately-run insurance plans modeled after the Federal Employee Health Benefits Program, which covers more than eight million federal workers, including members of Congress, and their dependents.

A government-run plan would be retained as a fall-back option, the aides said, and would be triggered only if the new proposal failed to meet targets for providing affordable insurance coverage to a specified number of people.

The agreement would also allow Americans between age 55 and 64 to buy coverage through Medicare, beginning in 2011.

Or is TPM right?

Lawmakers have suggested in recent days that the compromises under discussion were meant to replace the national public option that's currently in the bill. The Associated Press as the New York Times are even reporting that the public option is gone. Tonight, though, Senate Majority Leader Harry Reid suggested that might not be the case. "All the things you've read in the newspapers...'the public option is gone,'--it's not true," Reid said at an impromptu press conference after tonight's meeting broke.

Reid wouldn't elaborate further--and it's worth noting that in recent days, aides and members have tried to characterize some of the ideas on the table as a form of "public option" when in fact none of them are. But it looks like we'll know definitively by the end of the week--and maybe sooner.

"I already know that all 60 senators in my caucus don't agree on every piece of the merger," Reid said. "I know that what we've sent over there to CBO--will send to them tomorrow--not everyone's going to agree on every piece that we've sent over there, but that doesn't mean that we disagree on what we've sent to them."

Honestly, I'm just as confused as you are right now. Who are we to believe? Is the public option in or out of the Senate bill? Is there a trigger or not? What the hell just happened??!!

I want answers. We should demand answers. Hopefully tomorrow, we'll get more details. It just seems like there was a brief glimpse of hope for a decent bill, and now it may all be gone.

Oh please, I do not want to think of what will happen if Reid abandons all principles for more ConservaDem crap.

Harry Reid Takes BofA to Task for Shortchanging Nevada... And GOoPers Defend the Bank

Haha. Bank of America (BofA), unfortunately the lame@ss bank I have to use (for now), is being taken to ask by our Senator for forsaking its Nevada customers and not complying with federal and state law aimed at reducing the number of home foreclosures and helping people save their homes.

“I appreciate the significant burden that the foreclosure crisis has placed on your servicing division, but I suggest your Nevada mortgage customers, Nevada’s housing market and, indeed, your company’s reputation will all suffer more unless more of B of A’s resources are directed to our state,” Reid wrote in a letter to the bank.

“Simply put -- B of A must do more.” [...]

In the letter, [Harry] Reid said that 40 percent of the housing assistance cases his Las Vegas office is handling involve home loans from Bank of America which, Reid writes, “is in part a reflection of your company’s presence in Nevada but perhaps also an unfortunate indication of the difficulties your Nevada customers have encountered when approaching B of A for relief.”

“In too many instances where my staff connects a constituent with a B of A employee to discuss a modification, the constituent later reports that B of A failed to be of any assistance.”

Reid goes on to scold the company for its performance in the state’s new foreclosure mediation program. Of the eight mediations involving B of A since the program was launched this year, seven resulted in the mediator’s conclusion of “bad faith” on the part of the B of A representative, the senator wrote. [Emphasis mine.]

Over at The Sun's story, the Rethuglicans in the comments are so desperate to make Reid look bad that they'll even promote the greedy, stealing bailed out banks just to try to trash Reid. Companies like BofA pushed homeowners into subprime loans when they actually qualified for better, engaged in selling risky "mortgage backed securities" and "credit default swaps" to make a fast buck off their debt, and went to the government begging for bailout money after the deregulation plans they pushed the government to do ten years prior worked out quite disastrously... And we're supposed to blame Reid for urging these greedy Wall Street "robber barons" to stop skirting the law and start working with distressed homeowners?

And why won't BofA comply with Nevada law? The mediation program was designed to prevent further foreclosures, but it seems BofA is plenty happy with kicking people out of their homes while begging the feds for more bailout money.

I hope Reid and his fellow Democrats work harder in the Senate to pass reform measures to undo the failed Reagan-Gingrich-Bush era deregulation agenda and stop the highway robbery these banks are committing. They don't need any more bailouts on our dime. Rather, we need real reform that protects the customers and makes

And by the way, I actually am a BofA customer and this bank is notorious for lousy customer service. I never had a mortgage with them, but I have a whole 'nother horror story to share with you. They screwed up my dad's bank account earlier this year and made him go "overdraft" when he never really went overdraft. (Long story short: Their mistake was double-charging him for the phone bill.) They never refunded all the false "overdraft fees" they charged my dad, and they haven't even apologized for ruining his bank account and messing with his bill payments over the summer.

So please excuse me if I'm not crying for poor lil' BofA, but they're still not complying with the law and they need to stop being given any more of our tax dollars just to treat us like crap, screw up our bank accounts, and kick us out of our houses.

So How's the Foreclosure Mediation Program Doing? And Will California Soon Follow Our Lead?

So how's Nevada doing? Foreclosures are still high, but are off their record highs and thankfully on the decline.

Nevada had 13,842 foreclosure filings, which was a 26 percent decline from September. Filings fell 4.4 percent from October 2008.

The firm reported one filing for every 80 households in October. Nationwide, foreclosure filings fell 3 percent from September, but were up 19 percent compared with October 2008.

In Nevada, notices of default on home payments dropped 10 percent from October 2008 and scheduled foreclosure auctions were down 6 percent. Bank repossession, however, rose 8 percent in October.

RealtyTrac spokesman Daren Bloomquist said a new state mediation program implemented July 1 may have caused the declines in Nevada because it slowed the flow into the foreclosure pipeline. Under the program, homeowners have the option of going through mediation with lenders.

Wait, so what's RealtyTrac talking about? They're talking about AB 149, the new law passed by the Legislature earlier this year that actually requires the banks to go into court-sponsored mediation to work out a home loan modification. And if this mediation doesn't work out due to the bank's refusal to agree in good faith, the distressed homeowner can persue a remedy in state court.



But why should we have faith that this program will work in the long run? Don't the banks always win? Maybe not, according to these famous local lawyers.

Recently, the non-profit National Consumer Law Center released a report saying that none of the foreclosure mediation programs they reviewed (a list which does not include Nevada) are providing significant benefits to homeowners. [...]

Why? Because the existing programs routinely fail to impose significant obligations on mortgage servicers, according to the article.

In contrast, Nevada's Foreclosure Mediation Program gives homeowners facing foreclosure the option to request a mandatory foreclosure mediation session. This means someone from the mortgage company with authority to negotiate must attend the foreclosure mediation session. Additionally, Nevada has now trained a number of professional foreclosure mediators who also sit in on and participate in the foreclosure mediation session.

It would be great if the other states could create laws with similar teeth in them. And it would be even better if Congress or the Treasury could come up with uniform protections and solutions for homeowners. However, the mortgage industry's lobby is strong. And according to the NCLC report:

"It is unfortunate that the [mortgage] industry has so far prevailed in blocking Congressional action on court-ordered loan modifications, the one step that would level the playing field for consumers and ensure the necessary accountability from all parties....With the industry's encouragement, crucial elements of accountability have been omitted from the Treasury Department's Home Affordable Modification Program (HAMP). Now, over six months after its inception, this new federal initiative serves only a small percentage of eligible homeowners."

The important takeaway, for now, is that Nevada homeowners have some unique tools at their disposal.

While the federal home loan modification program is a good start and has provided some relief to distressed homeowners, it unfortunately falls short of providing the kinds of protections and remedies to homeowners that Nevada's program does. That's why the states are now passing stronger foreclosure mediation laws, but so far few, if any, states' programs come close to the strength of Nevada's program.

However, this may soon change.

Nevada Assembly Speaker Barbara Buckley testified today before the [California Assembly Banking & Finance Committee], stating that she believes Californians can benefit from a program similar to the one she sponsored in Nevada. “No matter where we live, it is critical that we do all we can to help reduce the number of foreclosures and help people stay in their homes. Our program in Nevada has shown initial success in stemming foreclosures. While I understand the obstacles California faces as a non-judicial foreclosure state, I look forward to working with the California Legislature to find ways that a similar program could be implemented, said Speaker Buckley.”

Over the next several weeks, Assemblymember [Pedro] Nava [D-Santa Barbara] will analyze the testimony given at the hearings regarding loan mediation programs and work with stakeholders to determine how to best move forward to address the current crisis and lessen the detrimental impact on California families.

“I am honored to have Nevada Assembly Speaker Barbara Buckley at the State Capitol today to testify on her successful foreclosure mediation program. I look forward to working with her as we make progress with California’s own monitored mortgage workout program,” said Nava.

California is now considering AB 1588, introduced by Nava, Assm. Ted Lieu (D-Torrance), and California Assembly Speaker Karen Bass (D-Los Angeles), and strongly supported by LA Mayor Antonio Villaraigosa (D), as a possible solution to its own foreclosure crisis. Nevada's foreclosure rate may still be the worst, but California is now a close second and the crisis there may actually be worsening again.

The banks have proven to be predators in enticing people (if not outright forcing them) into risky home loans that they ultimately couldn't afford. And now with these very people defaulting on their loans, the banks just toss them out of their homes with no chance of resolving the defaulted loans. Even though these very banks benefitted greatly from the TARP bailouts, they still refuse to fulfill their promises and use those funds as originally intended.

This is why Nevada needed AB 149... And why California needs AB 1588. While California's program would work differently by implementing a "Monitored Mortgage Workout Program" operated by the California Housing Finance Authority (CHFA) (as opposed to Nevada's system being operated by the state judiciary), it would otherwise be similar in requiring the banks to undergo mediation if a distressed homeowner requests one. Again, this will be a major help in preventing a number of foreclosures by giving homeowners a real chance to modify the home loan before it defaults.

So thankfully, Nevada's program is making a difference in preventing the foreclosure crisis from worsening even further here. And hopefully soon, California and other states will follow our lead.

My Letter to The R-J & The Sun on Dina Titus & Health Care

Have you been as irritated by all those lying big business ads attacking Dina Titus on health care as I have? If so, consider writing a letter to our local papers. Believe it or not, folks still pay attention to those "Letters to the Editor" on the opinion page.





If you'd like a little inspiration, check out what I just sent:

Our local airwaves have been hit recently with an onslaught of negative ads, funded by special corporate interests like the insurance industry and the US Chamber of Commerce, attacking Rep. Dina Titus for supporting HR 3962. And while I don't agree with everything in the bill, I fully support Dina's commitment to ensuring all of Nevada's working families have access to quality, affordable health care.

Wall Street has already had its billions in federal bailouts, but where's the help for us? HR 3962 doesn't hurt attack them, but it will help us by expanding coverage to 96% of Americans, increasing competition and consumer choice with a public health insurance option, and lowering the outrageous cost of health care in this country.

And unless one considers a $500,000+ per year salary "middle-class", this bill won't create any new taxes on middle-class families! Oh, and by the way, Dina worked on this provision and other parts of the bill to ensure that Nevada small businesses won't be hurt in any way by the bill, and that small businesses and their employees will be able to access the exchange.

So why should be believe a bunch of Washington Beltway and Wall Street outsiders trying to deceive us on health care reform? They don't have Nevada's best interests in mind, but Dina Titus' work on HR 3962 proves that she does.

Health Care: So Reid Got a Public Option in. So What's Next?

So we got a public option... With a state opt-out. Nevada may be under pressure to opt out... But it looks increasingly unlikely. Health care reform looks ready to pass, but is it enough reform?

We'll see. While the HELP Committee public option was left standing mostly intact (other than the state opt-out clause), there are still some nasty Finance Committee provisions that were also left standing. The exchanges don't have enough negotiating power. The "free rider" provision prevents a workable employer mandate. Oh, and the "national plans" proposed would be able to circumvent state insurance regulations.

Oh, and did I mention that state opt-out is better off thrown out of the bill?

Obviously, there's still work to be done. Hopefully there will be some good amendments on the Senate floor to support. And thankfully on the House side, their bill keeps looking stronger and stronger. There's no way we'll see a very ugly bill emerge out of Conference.

So keep on our Congresscritters in Washington as the bill finally makes it to the floor in both houses. Let's see if they can actually deliver meaningful health care reform this year.

NV-03: Dina Titus Will Face... Anyone?

Just as quickly as former bank executive John Guedry entered the NV-03 race against Dina Titus, he's now abruptly leaving. Here's the Republican's statement via Steve Sebelius:

“I entered this race to help make our state and nation a better place for my family and future generations of Nevadans. Recent events have compelled me as a father and husband to end my campaign for public office and focus my attention on important issues closer to home.

“I am incredibly honored and grateful for the tremendous support I’ve received during this campaign and I want to thank everyone who has been so involved and helpful.

“I am more confident than ever that the approach being taken by politicians in Washington D.C. is ill-advised and incorrect … it will just need to be another Nevadan to lead the fight to bring commonsense leadership to Congress and argue these important principles for Nevadans.”

Whatever. While there's no way for sure to know why he decided to drop out, it may be because his City National Bank record was all of a sudden being exposed. Come on, he led their grab of $400 million of our tax dollars while he advocated doing nothing about the 78,000 Nevadans losing their homes to foreclosure?

Why am I now not feeling surprised that he dropped out so suddenly?

The Banks Have Beaten Us to a Pulp... We Need to Fight Back!

My dad recently went through this horrid bit of hell.



And in his case, it wasn't ever his fault. The cell phone company made a massive mistake in double charging him for the month's bill last month, so the bank started charging overdraft fees because he was supposedly overdrawn... Even though he really wasn't.

But even though the cell phone provider ultimately fixed its billing error, the bank never refunded the overdraft fees. And in fact, they charged him even more later in the month when he was never really overdrawn... AGAIN!

The bankers are thieves. They really are. We can't trust them, yet the politicians misuse our tax dollars to keep bailing them out so they can keep stealing from us. Instead of getting any more bailouts from us, these bank executives should face criminal charges for what they've done to us.

After we follow Ralph Nader's advice and sue the banks, we should urge the feds to investigate them. Now that would be the ultimate revenge!