"We spent $ 30 trillion in the global crisis from 2007 to 2009 propping up financial institutions that have taken the country hostage for their reckless behavior. So far, only $ 8 trillion has been spent on the Covid-19 pandemic tied, "remarked Tlaib. "These banks were, are and will continue to be dependent on the public dollar. It is time to reciprocate that relationship and let the banks work for the people, not just privatized profits ravaging the color communities." (…)
In addition to the Treasury Secretary and Fed Board granting public banks grants for "banking, capitalization, financial market infrastructure development, support operations, covering unexpected losses and more without the need to raise funds," the bill states:
Allows the Federal Reserve to create and grant membership to public banks and, in cooperation with the relevant federal agencies, to establish a separate system of regulation in relation to them.
Establish a Public Banks Incubator Program to provide technical assistance to public member banks in developing technologies, practices and data that promote the common good.
Established new liquidity and credit facilities with the Federal Reserve to provide direct federal support to state and local public banks and their communities;
Prohibits investment in fossil fuel projects. (…)
Three more articles worth reading
“I knew that a historian (or a journalist or someone telling a story) was forced to choose from an infinite number of facts what to present and what to leave out. And that decision would inevitably reflect the historian's interests, consciously or not. "
~~ Howard Zinn, A folk history of the United States (1980, 2003)
TWEET OF THE DAY
BLAST FROM THE PAST
At Daily Kos that day in 2010– Suppression of voting:
The late Supreme Court Chief Justice William Rehnquist cut his political teeth off and suppressed the Arizona vote. It was a problem with his verification negotiations, but it didn't stop him from being seated.
One of the least reported stories of the stolen Florida presidential election in 2000 was the racist and partisan cleansing of legitimate voters to suppress the Democratic vote. And in Florida, it didn't end there. (…)
We later found out that the White House was Bush Replacing US attorneys for refusing to play along with their attempts to intimidate voters.
In 2007, Louisiana Republican Secretary of State Tens of thousands of mostly minority voters purgedwithout going through the proper procedures.
This year, the Koch Industries affiliated groups continue their efforts suppress the vote in Wisconsinwhere a campaign reform advocate could lose his Senate seat to a climate denier and enablers of educators.