The Good, The Bad & The Ugly – Week of 5/20/13

Good

  • Occupy Our Homes, the Home Defenders League and other housing advocacy groups stage a protest outside of the DOJ that highlights the DOJ two-tiered justice stance. We can only hope this is another spark for effective protest. John Knefel at Rolling Stone May 22, 2013.
  • One of the ways the horrendous Trans Pacific Partnership (TPP) can be stopped is if other countries affected by the US’s neoliberal policies deem it too radical and refuse to sign on. Rodrigo Contreras, who was lead negotiator in the TPP talks for Chile before he resigned 2 months ago, has written a piece warning of the dangers of the TPP. We will look to see if other countries heed his warning. Yves Smith at Naked Capitalism May 22, 2013

Bad

  • Dimon scores a victory as only 32% of shareholders vote for a proposal to split the CEO and Chairman roles, thus allowing him to keep his powerful hold over the bank. (Although Yves Smith has a slightly more optimistic and nuanced take for all those Dimon-haters out there). Dawn Kopecki & Hugh Son at Bloomberg May 22, 2013.

Ugly

  • The CFTC delivers another huge gift to the bankers as a rule intended to introduce more transparent pricing into the $700 Trillion (yes, with a T) derivatives market is significantly weakened, thus allowing the megabanks to continue to dominate this lucrative area of risky finance. Marc Gordon at AP News.  Our own Akshat Tewary has a piece about it in American Banker which you can read here.  For further analysis, Bill Black gives a great interview to the Real New Network. May 16, 2013.
  • Police taser multiple protesters for exercising their 1st amendment rights at the Occupy Our Homes protest displaying very bluntly who they really protect. One video has gone viral showing 21-year old Carmen Pittman, who had her family home illegally foreclosed on by JP Morgan Chase, being brutally tased. What priorities the State has. Ryan Grim, Jason Cherkis, and Will Wrigley at Huff Post  May 21, 2013.

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