Pennsylvania
December
27, 2014
It is often said that Pennsylvania has Philadelphia at
one end, Pittsburgh at the other and Kentucky in the middle. Or maybe it’s
Montana. Either way, this is why my home state elects so many
anti-intellectual, anti-union, anti-science, anti-woman, anti-gay, kill-the-poor,
bomb-Iran, knuckle-draggers to office. We are in the process of evicting the
least popular governor in the nation, Tom Corbett in favor of millionaire Tom
Wolfe - we’ll see how that goes, but
losing Corbett can’t be a bad thing. And, lest we forget, the last senator we
jettisoned was the very frothy Rick Santorum. Unfortunately, we still have Pat
Toomey, purported to be the fourth most conservative member of the senate, as
our junior senator.
Pat Toomey (R-Wall Street) looking very serious…or
something
Pat Toomey rode in on the 2010 wave of Tea Party psychosis
fervor and huge money. He is a pre-sex-scandal radical Christian, virulently
anti-choice and pro-corporation. He wants personhood for fetuses, but no gun
control for protecting the lives of those actually born. Toomey wants to
protect the rights of the flag, but not the rights of people to marry who they
choose, or to adopt children if they do not meet his criteria. He is in favor of more
prosecution and sentencing for juvenile crime, but against alternative
sentencing instead of more prisons. He
opposes campaign finance reform and any attempts to protect the environment.
Just an all-around great guy.
Pat Toomey is very upset that there are regulations
affecting the ability of Wall Street criminals to run roughshod over real
people. Wall Street should instead be permitted to do anything they want and
crash our economy as they see fit. As often as they like. To this end he’s
going after a senator who seriously disagrees with him, one who knows what
she’s talking about when she warns the American people about what Wall Street
has done and is poised to do again if left to their own, and Toomey’s, devices.
Toomey, referring to a provision of the 2010 Dodd-Frank
law - the swaps rule - which requires banks to have certain derivatives in
units outside the government’s safety net said, “I hope you’re not going to
fall for Elizabeth Warren’s nonsense.” The House passed a 1.1 trillion spending
bill with the provision to roll back the swaps rule recently. The Senate must
now consider the bill, which Senator Warren has vigorously opposed. The
Pennsylvania Republican’t suggested Warren’s outrage came out of personal
ambition adding, “This is Elizabeth Warren ginning up the leftwing of the
Democratic Party who are professional haters of business. This is absolute
nonsense.” If there’s anyone who knows a thing or two about absolute nonsense,
it’s Pat Toomey. Well, he may or may not know a thing or two about it, but he is its personification.
Elizabeth Warren, not taking any Toomey from anyone
Toomey added, “There is a tiny provision in Dodd-Frank
that forces banks do something that is counter-productive, it forces, in fact
it increases taxpayer risk because it forces them to do some of their risk
management outside the bank in a separate subsidiary where they can’t manage
their risk as well. Nobody thinks this is a good idea. No regulators do, nobody
who understands banking does, nobody who understands risk management. So all it
does is it says banks can conduct their ordinary risk management processes
within the institution itself.” Now
there’s some quality absolute nonsense for you.
Toomey is not only shill for Wall Street and former
investment banker, he is the former president of the Club for Growth, a super
PAC which has been accused of driving all the moderates out of the Republican’t
party. An ad opposing Toomey’s 2010 election said, “In Congress, Toomey voted
to give China special trade status. Toomey's vote for China helped cost us 2.4
million jobs. Maybe he ought to run for Senate in China.” Toomey claims nobody
thinks the Glass-Steagall Act, which kept regular folks’ money out of the risky
investment business, is a good idea. Glass-Steagall demands that banks keep our
money (which now earns us a whopping 0.1% or so, while they make millions using
it) safe while they’re out creating phony investment products that will
eventually blow up, which they already did in 2007, leaving the banks in need
of taxpayer-funded bail-outs, which they already got in 2008. It was Bill
Clinton (husband of presidential wannabe Hillary) who dismantled Glass-Steagall;
he now claims this is one of his major regrets.
Mr. Toomey, after leaving Wall Street and before moving
to Allentown to help operate a chain of restaurants, spent a year in Hong Kong
doing financial markets research for a billionaire named Ronnie Chan. So Pat
Toomey is probably not the guy you want to listen to about our economy.
I.
Mangrey, staying in touch, so you don’t have to.
Vetoes
welcome.
Happy
New Year.