Chamber Pot of Commerce
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The day after Barack Obama was elected president, we at the AFL-CIO in Washington, D.C., draped the front of our building with a massive banner: “We’re Turning Around America.” In January, we added another banner supporting passage of the Employee Free Choice Act.
The AFL-CIO building is just around the corner from the Chamber of Commerce. So apparently after stewing lo these many months, the Chamber decided to drape itself in its own banner, imitation being the sincerest form of flattery.
The banner proclaims the ludicrous—yet at an estimated $100 million, massively funded—campaign the Chamber announced yesterday to shore up free enterprise and create jobs. Or, as Politics Daily puts it:
Chamber of Commerce Relaunches Capitalism.
Chamber President Tom Donohue, who last week was battling Apple Inc. and other corporations about their decisions to leave the Chamber over its antediluvian climate change stance, had this to say about the campaign:
The free enterprise system, which has done so much for so many, is facing great challenges.
In Georgia, New AFL-CIO Leaders Take on Banks, Support Flight Attendants
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The AFL-CIO’s new leadership team is kicking off its first days with a tour around the country, listening to workers and energized to turn around the economy. Today, they visited Atlanta to focus on the foreclosure crisis that has driven millions out of their homes—and the banks that enabled it.
AFL-CIO President Richard Trumka, Secretary-Treasurer Liz Shuler and Executive Vice President Arlene Holt Baker brought a message to an area hit by more than 40,000 foreclosures in just the past six months: We need an economy that protects everyone, not just finance-industry CEOs.
Speaking to a breakfast of faith leaders and community activists in Atlanta, Trumka said the finance industry undermined the economy by engaging in predatory practices in the hopes of profiting off of the most vulnerable:
It’s time banks are held accountable for the pain they’ve inflicted on families now faced with financial ruin, even foreclosures and bankruptcy. The banks and their fly-by-night business partners took advantage of people who wanted to buy a home, knowing full well they’d have to default, and lose their homes to the bank.
Trumka said that our economic crisis is due to the greed and irresponsibility of an economy that worked for only a few, while most workers struggled with stagnant wages and debt:
Our financial system is a shambles and we’re not going to restore its luster until we rein in the abuse by financial institutions like Wachovia that threw our economy into crisis.
Coalition Concerned About Effect of Pulte-Centex Merger on Homeowners
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Robert Masciola, deputy director of the AFL-CIO Center for Strategic Research, shares this recent action by workers and their allies at Pulte Homes and Centex Corp. shareholder meetings.
In Pontiac, Mich., and Dallas yesterday, workers, community leaders, homeowners and other supporters of the Building Justice campaign came together to voice their concerns about the merger between Pulte Homes and Centex Corp. The merger will create the largest homebuilding company in the United States.
Building Justice is a partnership of the Painters and Allied Trades union (IUPAT), the Sheet Metal Workers (SMWIA), the AFL-CIO, Pulte homeowners, community members and elected officials to improve conditions at Pulte developments. Members of the coalition staged rallies in Pontiac (Pulte) and Dallas (Centex) to coincide with shareholder meetings in each city to approve the merger.
Educating Timothy Geithner: The Congressional Review Panel on Capitol Hill
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The American people worry about how their $590 billion in taxpayer money is being spent in the big bank bailout—and, on Capitol Hill today, U.S. Treasury Secretary Timothy Geithner was told why. In his first appearance before the Congressional Oversight Panel (COP), which has spent nearly six months reviewing the expenditures of the Troubled Asset Relief Program (TARP), COP chairwoman Elizabeth Warren told Geithner:
People are angry that even if they have paid their bills on time consistently and never missed a payment, their TARP-assisted banks are unilaterally raising their interest rates or slashing their credit lines….People are angry when they read headlines of record foreclosures because even if they aren’t personally facing trouble with their mortgages, they see their own property worth less and their communities declining as a result of the foreclosures all around them.
I appreciate your repeatedly stated commitment to transparency and accountability…but more remains to be done. People need to understand why you are making the choices you are making.
A Home Is Foreclosed Every 13 Seconds
The economic crisis started with home foreclosures, and the numbers are getting worse. According to the Center for Responsible Lending (CLR), a non-partisan research and policy group, some 6,600 homes are foreclosed every day: one every 13 seconds. Experts agree that helping homeowners is key to helping the entire economy.
Writing at Congress Matters, David Waldman, aka Kagro X, says new numbers from CLR show that projected foreclosures by congressional district are concentrated in five states: California, Florida, Nevada, Arizona and Georgia. In fact, there’s not a congressional district in the top 50 that isn’t in one of these five states. The most troubled districts are represented by Republicans, he reports. Republicans hold just over 40 percent of the seats in the House, but represent 60 percent of the top 10 most troubled districts.
What’s Wrong with This Picture?
Behold, the winner of the World Press Photo of the Year 2008 award.
For those outside the United States, this is the image of our nation:
U.S. Economy in Crisis: Following eviction, Detective Robert Kole must ensure residents have moved out of their home in Cleveland, Ohio, 26 March 2008.
Obama Housing Plan ‘Aims Straight at the Heartland’
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As many as 9 million homeowners who are facing foreclosure or struggling with skyrocketing monthly mortgage payments could save their homes under the terms of a home rescue plan President Obama unveiled yesterday.
When the Bush economy began to tank more than a year ago with banks failing and jobs vanishing, foreclosure signs and abandoned houses began sprouting in working and middle class and even up-scale neighborhoods around the nation. The AFL-CIO first called for a homeowners’ lifeline in late 2007. But the Bush administration preferred to bailout Wall Street instead of throwing a lifeline to Main Street. Says AFL-CIO President John Sweeney:
The swift action by the Obama administration to address the housing crisis is a welcome and refreshing change.
For more than a year, the Bush administration ignored calls from the AFL-CIO and others to address a coming foreclosure tsunami. Tragically, in the months that followed, the deepening housing debacle turned millions of families’ lives upside down and strengthened its chokehold on our economy
Time to Think Big, Push for Progressive Government Action
President Obama’s economic stimulus package is just the beginning of a long-overdue public investment in rebuilding our nation’s economy. And now is the time to seek broad solutions—to think big about what can be done.
Today at the Thinking Big/Thinking Forward conference, hundreds of progressives took the first steps to building a movement to coalesce public support for a more activist, progressive government to rebuild our nation’s economy.
The one-day conference in Washington, D.C., was co-sponsored by The American Prospect, Institute for America’s Future, Demos, and the Economic Policy Institute (EPI).
Treasury Dept. Not Looking After Taxpayer Money
President-elect Barack Obama has a laundry list of Bush disasters to clean up after he gets in office, and he says fixing the Troubled Asset Relief Program (TARP) is among his first priorities. Good thing, too, because the congressional oversight committee charged with examining how the first $350 billion of our taxpayer money was spent finds the U.S. Treasury Department isn’t exactly looking after our money. The oversight committee released its second report in recent days, and The Washington Post sums up the findings as follows:
The report says the department has not articulated a plan for restoring lending to consumers. It asks again why the Treasury has refused to spend any money on foreclosure prevention programs. And it says the department is sowing confusion in the financial markets, undermining the stated purpose of the rescue program, by failing to require companies to report how they are spending federal investments of taxpayer dollars.
The Best Gift We Can Give: Ourselves
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The Rev. Nelson Johnson is pastor of Faith Community Church and executive director of the Beloved Community Center, in Greensboro, N.C. He is the recent past national co-president of Interfaith Worker Justice and, this summer, joined in prayer with tobacco workers and Baldemar Velásquez, president of the Farm Labor Organizing Committee (FLOC). The Rev. Nelson reminds us here how fundamental to the union movement are the ways in which we give of ourselves.
The fullness of Christmas is upon us. For tens of millions, Christmas is the most significant holiday of the year. In fact it’s more than a day: Christmas is an entire season. Perhaps no other holiday season involves us in such a range of activities and emotions. Christmas is a season of sharing gifts with loved ones and being charitable toward total strangers; it is a season for gatherings of family, co-worker and religious entities. It is a period of reflection and commitment. Christmas is a season of renewed hope and new possibilities, proclaiming peace on earth and good will (or justice) to all.
