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SF Labor Council Demands No Bailout Of Bad Debts of the Financial Industry"NO BLANK CHECK
The SF Labor Council has demanded that there be no bailout of bad debts by the market speculators. The question is why they continue to support the chief proponent of the bailout Congresswoman Nancy Pelosi who supports the bailout and was personally responsible for supporting the Glass-Steagall Act which deregulated the stocks and bank industry. She has taken millions from these same corporate crooks and raiders and her husband is one of these stock manipulators.
The following resolution was adopted by the San Francisco Labor Council at its delegates' meeting on Monday, September 22, 2008.]
RESOLUTION TO US CONGRESS DEMANDING THEIR OPPOSITION
TO THE BAILOUT OF THE BAD DEBTS OF THE FINANCIAL INDUSTRY
"NO BLANK CHECK FOR WALL STREET"
Whereas, the Bush Administration has proposed that the federal government provide $700 billion to bail out the financial entities which are facing huge losses dues to their market manipulation and speculation; and
Whereas, this proposed bailout will fall on the shoulders of the working class, some $2,000.00 for every man, woman and child in America -- on top of the $3 trillion debt imposed on us by the two unending wars; and
Whereas thus the proposed bailout will result in the same market manipulators profiting from the taxpayer-financed bailout while millions of everyday Americans continue to face bankruptcy and foreclosure -- loss of jobs, income and habitat; and
Whereas, the people don't run Wall Street, but indeed Wall Street runs much of the world, and has created this crisis; and
Whereas, the leaders of this economy oppose even minimal government assistance for the people, but demand it by the billions for themselves when they run into trouble caused by their own greed;
Therefore Be It Resolved that the San Francisco Labor Council -- representing the members of the 150 local and regional unions, and thus representing 150,000 union members and their households---stands opposed to any taxpayer-financed bailout of the shareholders and executives of the financial giants who have created this crisis and of the speculators who have put all of us at risk; and
Further Be It Resolved that we demand of our Congressional representatives that there be a strict prohibition on profiting from this crisis at taxpayer expense, and
Further Be It Resolved, that the government provide long-term relief for unemployed and underemployed workers, provide government-controlled public investment in rebuilding America's infrastructure and disaster areas to put people to work and restore our communities, impose a moratorium on home foreclosures for homeowners, and require of Wall Street firms that they suffer the losses they are so eager for the taxpayers to assume, and impose strict regulations on Wall Street businesses that finance our economy.
Finally Be It Resolved, that this resolution be communicated in its substance and content to the Congressional representatives from San Francisco and
Be it finally resolved that this resolution be copied to regional CLC's, and the California Labor Federation, and to the national AFL-CIO.
Fraternally submitted,
Denis Mosgofian, GCC-IBT 4N
Tom Edminster, UESF, for identification only
RESOLUTION TO US CONGRESS DEMANDING THEIR OPPOSITION
TO THE BAILOUT OF THE BAD DEBTS OF THE FINANCIAL INDUSTRY
"NO BLANK CHECK FOR WALL STREET"
Whereas, the Bush Administration has proposed that the federal government provide $700 billion to bail out the financial entities which are facing huge losses dues to their market manipulation and speculation; and
Whereas, this proposed bailout will fall on the shoulders of the working class, some $2,000.00 for every man, woman and child in America -- on top of the $3 trillion debt imposed on us by the two unending wars; and
Whereas thus the proposed bailout will result in the same market manipulators profiting from the taxpayer-financed bailout while millions of everyday Americans continue to face bankruptcy and foreclosure -- loss of jobs, income and habitat; and
Whereas, the people don't run Wall Street, but indeed Wall Street runs much of the world, and has created this crisis; and
Whereas, the leaders of this economy oppose even minimal government assistance for the people, but demand it by the billions for themselves when they run into trouble caused by their own greed;
Therefore Be It Resolved that the San Francisco Labor Council -- representing the members of the 150 local and regional unions, and thus representing 150,000 union members and their households---stands opposed to any taxpayer-financed bailout of the shareholders and executives of the financial giants who have created this crisis and of the speculators who have put all of us at risk; and
Further Be It Resolved that we demand of our Congressional representatives that there be a strict prohibition on profiting from this crisis at taxpayer expense, and
Further Be It Resolved, that the government provide long-term relief for unemployed and underemployed workers, provide government-controlled public investment in rebuilding America's infrastructure and disaster areas to put people to work and restore our communities, impose a moratorium on home foreclosures for homeowners, and require of Wall Street firms that they suffer the losses they are so eager for the taxpayers to assume, and impose strict regulations on Wall Street businesses that finance our economy.
Finally Be It Resolved, that this resolution be communicated in its substance and content to the Congressional representatives from San Francisco and
Be it finally resolved that this resolution be copied to regional CLC's, and the California Labor Federation, and to the national AFL-CIO.
Fraternally submitted,
Denis Mosgofian, GCC-IBT 4N
Tom Edminster, UESF, for identification only
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An EMERGENCY Call to Action, Where Is Our Bailout?
Dear Supporter,
John McCain's decided YESTERDAY to "stop campaigning" to work on the emergency $700 BILLION bailout of Corporations. These Corporations fund companies like Bear Sterns, and AIG Insurance. My opponent Nancy Pelosi has HALF A MILLION in stock invested in AIG alone, which is included in this "bail out".
We're told every day how much EACH AMERICAN owes to these very same fat cats! If a new injection of money (700 billion) is printed out of thin air AGAIN, that will only further devalue our dollar. That will also raise the already ridiculous sum of money that each American owes!
Do you want your children and grandchildren to bear this burden? Shall the unborn be subject to pay these debts being created, while our government only profits from this kind of activity? Are you ANGRY yet?
WHERE IS OUR BAIL OUT?
Join Cindy Sheehan in our call to action!
When: 9/25 4pm
Where: The Federal Reserve 101 Market St @Speer and 1st
Bring Signs asking..Where is MY Bailout??
Bring your Bills...
Let's DEMAND Congress Pay OUR DEBT
Let's Keep this Action Rolling....
Hey Nancy.....BAIL ME OUT!!!!
Congress is working with the President to fund the largest corporate bail out in U.S. history. Every tax payer in this country must be wondering "Where is my bail out?" Don't we all have debt? Shouldn't our representatives be looking out for our interests instead of their corporate conspirators? Shouldn't Nancy Pelosi be standing up for us? Let's ask Nancy Pelosi for a bail out and send her our debts. Go here and and tell us about you and your estimated Debt then Cindy for Congress will send Nancy the bill.
Dear Supporter,
John McCain's decided YESTERDAY to "stop campaigning" to work on the emergency $700 BILLION bailout of Corporations. These Corporations fund companies like Bear Sterns, and AIG Insurance. My opponent Nancy Pelosi has HALF A MILLION in stock invested in AIG alone, which is included in this "bail out".
We're told every day how much EACH AMERICAN owes to these very same fat cats! If a new injection of money (700 billion) is printed out of thin air AGAIN, that will only further devalue our dollar. That will also raise the already ridiculous sum of money that each American owes!
Do you want your children and grandchildren to bear this burden? Shall the unborn be subject to pay these debts being created, while our government only profits from this kind of activity? Are you ANGRY yet?
WHERE IS OUR BAIL OUT?
Join Cindy Sheehan in our call to action!
When: 9/25 4pm
Where: The Federal Reserve 101 Market St @Speer and 1st
Bring Signs asking..Where is MY Bailout??
Bring your Bills...
Let's DEMAND Congress Pay OUR DEBT
Let's Keep this Action Rolling....
Hey Nancy.....BAIL ME OUT!!!!
Congress is working with the President to fund the largest corporate bail out in U.S. history. Every tax payer in this country must be wondering "Where is my bail out?" Don't we all have debt? Shouldn't our representatives be looking out for our interests instead of their corporate conspirators? Shouldn't Nancy Pelosi be standing up for us? Let's ask Nancy Pelosi for a bail out and send her our debts. Go here and and tell us about you and your estimated Debt then Cindy for Congress will send Nancy the bill.
For more information:
http://www.cindyforcongress.org/article.ph...
Your Urgent Help Needed
Dear American:
I need to ask you to support an urgent secret business relationship with a
transfer of funds of great magnitude.
I am Ministry of the Treasury of the Republic of America. My country has had
crisis that has caused the need for large transfer of funds of 800 billion
dollars US. If you would assist me in this transfer, it would be most
profitable to you.
I am working with Mr. Phil Gram, lobbyist for UBS, who will be my
replacement as Ministry of the Treasury in January. As a Senator, you may
know him as the leader of the American banking deregulation movement in the
1990s. This transaction is 100% safe.
This is a matter of great urgency. We need a blank check. We need the funds
as quickly as possible. We cannot directly transfer these funds in the names
of our close friends because we are constantly under surveillance. My family
lawyer advised me that I should look for a reliable and trustworthy person
who will act as a next of kin so the funds can be transferred.
Please reply with all of your bank account, IRA and college fund account
numbers and those of your children and grandchildren to
wallstreetbailout [at] treasury.gov so that we may transfer your commission for
this transaction. After I receive that information, I will respond with
detailed information about safeguards that will be used to protect the
funds.
Yours Faithfully Minister of Treasury Paulson
Dear American:
I need to ask you to support an urgent secret business relationship with a
transfer of funds of great magnitude.
I am Ministry of the Treasury of the Republic of America. My country has had
crisis that has caused the need for large transfer of funds of 800 billion
dollars US. If you would assist me in this transfer, it would be most
profitable to you.
I am working with Mr. Phil Gram, lobbyist for UBS, who will be my
replacement as Ministry of the Treasury in January. As a Senator, you may
know him as the leader of the American banking deregulation movement in the
1990s. This transaction is 100% safe.
This is a matter of great urgency. We need a blank check. We need the funds
as quickly as possible. We cannot directly transfer these funds in the names
of our close friends because we are constantly under surveillance. My family
lawyer advised me that I should look for a reliable and trustworthy person
who will act as a next of kin so the funds can be transferred.
Please reply with all of your bank account, IRA and college fund account
numbers and those of your children and grandchildren to
wallstreetbailout [at] treasury.gov so that we may transfer your commission for
this transaction. After I receive that information, I will respond with
detailed information about safeguards that will be used to protect the
funds.
Yours Faithfully Minister of Treasury Paulson
Of course they would pass this; there's nothing in it that threatens the Democrats. The officialdom of the Labor movement doesn't even believe this one themselves:
"Further Be It Resolved that we demand of our Congressional representatives that there be a strict prohibition on profiting from this crisis at taxpayer expense, and"
This is a harmless resolution just like writing a letter to congress and asking them to be nice. It's intended to give the impression the labor leadership is actually doing something but it doesn't fool the membership any more.
"Further Be It Resolved that we demand of our Congressional representatives that there be a strict prohibition on profiting from this crisis at taxpayer expense, and"
This is a harmless resolution just like writing a letter to congress and asking them to be nice. It's intended to give the impression the labor leadership is actually doing something but it doesn't fool the membership any more.
For more information:
http://http//:www.laborsmilitantvoice.org
http://www.dofonline.co.uk/economy/new-york-labour-union-to-rally-against-bailout-plan2214147.html
Written by Paul Williams
Thursday, 25 September 2008
Scrutiny and pressure against the US treasury financial rescue package intensifies.
The New York City Central Labor Council (NYC CLC) has called a rally of its members to protest what it calls a 'blank check' handed to Wall Street.
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The CLC argues that it is the high street that in facts needs the help and that the New York City Congressional delegation must act quickly and responsibly to hold those who caused the national financial crisis accountable.
The principals and members of the Central Labour Council Executive Board joined the national AFL-CIO and Change to win organisations to call on Congress to apply strict conditions and oversight to any plan that would bailout troubled businesses and risk worker’s hard-earned money.
The Bush bailout proposal comes as the FBI announced it will investigate fraud at the companies whose failure led to the financial crisis, including such powerhouses as Fannie Mae, Freddie Mac, Lehman Brothers, and American International Group.
In rising anger, labour leaders proclaimed that “Wall Street’s crisis” has become “Main Street’s problem” as workers struggle to pay their bills, hold on to their jobs and keep their homes.
The union delegation urged Congress to approve only a bailout plan that includes a payback and equity investment return strategy for working people who are footing the bill and addresses the concerns of our nation’s health care, education, energy, infrastructure and jobs crisis.
The CLC Executive Board today announced the following “Seven Conditions for $700 Billion Bailout Plan”:
Tap Into Financial and Legal Tools to Stop Home Foreclosures. Use the full array of financial and legal tools available to the government to stop home foreclosures and restructure home mortgage loans for working families.
Institute Aggressive Public Oversight. Any action of the $700 billion bailout must be governed by an independent board with transparency and effective public and congressional oversight.
Stop the CEO Party Train. Restrict executive compensation at any companies that directly benefit from the bailout.
Repeal the Bush Tax Cuts. Repeal of Bush tax cuts to finance the bailout; invest money towards national infrastructure investments in highway, bridge and rail maintenance and improvements, and improvements in public educational systems and preservation of public services, mass transit and health care services.
Let Wall Street Pay for Wall Street’s Mistakes. Every company that benefits financially from the bailout must present a secure return investment plan.
Prey on the predators. Crackdown on predatory lending practices by corrupt financial institutions by using full force of the law.
Address Corporate Governance Imbalances. Work to address the disastrous weaknesses in our financial regulatory system and corporate governance structure that allowed our financial future to become so vulnerable.
For more information:
http://www.dofonline.co.uk/economy/new-yor...
San Francisco's Democratic party representative is herself a stock speculator and supporter of the same crooks who have brought the country down. This is her financial report for 2007. Members of San Francisco unions need to ask their union officials and the officials of the San Francisco Labor Council how they can endorse this union buster, privatizer and stock speculator who is voting on bills that personally benefit her investments such as AIG.
http://www.washingtonpost.com/wp-srv/politics/congress/fin_dis/2007/p000197.pdf
http://www.washingtonpost.com/wp-srv/politics/congress/fin_dis/2007/p000197.pdf
For more information:
http://www.washingtonpost.com/wp-srv/polit...
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