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The groups, representing more than 20 million Americans, sent a letter

to members of Congress . . .  urging them to require basic conditions before

agreeing to any financial bailout request.

 

 

Letter Demanding Bailout Conditions

A Call for Common Sense from

 Major Progressive and Labor Leaders

 

Every man, woman, and child in America is now being told to ante up $2,000 – an estimated $700 billion in all – to bail out Wall Street’s recklessness, or the very people who created this crisis are telling us that they will bring down our entire economy.

The Treasury Department’s proposal that the Secretary be given essentially unlimited authority to spend $700 billion to bail out any financial institution across the world is irresponsible and unacceptable.

We urge the Congress to insist on some basic conditions for any bailout.

1. Public Oversight. This kind of power can never be centralized in a single individual – much less one who did not even stand for election. Any funds must be controlled by an independent entity, with consumers and workers given seats on its board. Congress should be empowered to name independent monitors and to approve all board members.

2. Protect the Taxpayer. The Treasury bill would have taxpayers buying paper that nobody else wants at prices far above its current value. If a firm wants to auction off its toxic paper to the US Government, taxpayers should get equity in that firm equal to any amount paid in excess of the paper’s value. This will deter profitable firms from using the government as a dumpster for their toxic paper. And it will insure that if the bailout works and the firms become profitable, taxpayers, not simply bankers, benefit from the upside.

3. Curb the casino. This crisis was caused because sensible regulations of the banking system that worked for dozens of years were dismantled or went unenforced. No bailout can go forward without requiring the necessary regulation to insure this does not happen again. Any institution, which receives assistance, should agree to come under a microscope going forward in terms of disclosure requirements, and it should have stringent capital requirement imposed upon it.

4. Invest in the real economy. Ending the bankers strike is not sufficient enough to avoid the recession into which we have been driven. Major public investment in new energy and conservation, rebuilding schools and infrastructure, extending unemployment and food stamps, helping states avoid crippling cuts in police and health services – is vital to get the real economy moving and put people back to work. No bailout should proceed without being linked to support for a major public investment plan to get the economy going.

5. Hold CEOs and Boards of Directors Accountable. Wall Street CEOs shouldn’t be pocketing millions while taxpayers are forced to bail them out. Any firm that applies for relief must agree to cancel all stock option programs and CEOs should have stringent limits placed on their compensation until the Company has repaid all taxpayer assistance.

6. Aid the victims, not just the predators. Both bankers and home owners made foolish bets that home prices would keep rising. Many homeowners, however, were misled by predatory lenders into taking mortgages that they didn’t understand and couldn’t afford. It would be simply obscene to help the predators and not those that they preyed upon. No bail out of the banks should take place without measures to help people in trouble stay in their homes. Explicit provisions should ensure use of the full array of financial and legal tools available to the government to stop foreclosures and restructure home mortgage loans for ordinary Americans, including amending the bankruptcy code to allow judges to modify mortgages. Where workouts are not feasible, people should be allowed to stay in their homes as renters.

Robert Borosage, co-director, Campaign for America’s Future
John Sweeney, president, AFL-CIO
Andy Stern, president, Service Employees International Union (SEIU)
Gerald McEntee, president, Am. Fed. of State, County and Municipal Employees (AFSCME)
Randi Weingarten, president, American Federation of Teachers (AFT)
Larry Cohen, president, Communications Workers of America (CWA)
Dennis Van Roekel, president, National Education Association (NEA)
Leo Gerard, president, United Steelworkers (USW)
Maude Hurd, national president, ACORN
Nan Aron, president, Alliance for Justice
Amy Issacs, national director, Americans for Democratic Action
Kevin Zeese, executive director, Campaign for Fresh Air & Clean Politics
John Podesta, president, Center for American Progress Action Fund
Deepak Bhargava, president, Center for Community Change
Deborah Weinstein, executive director, Coalition for Human Needs

Donald Mathis, president, Community Action Partnership
Jane Hamsher, firedoglake.com
James D. Weill, president, Food Research & Action Center (FRAC)
Brent Blackwelder, president, Friends of the Earth
John Cavanagh, director, Institute for Policy Studies
Sarita Gupta, executive director, Jobs with Justice
Wade Henderson, president, Leadership Conference on Civil Rights
Carissa Picard, esq., president, Military Spouses for Change
Sally Greenberg, executive director, National Consumers League
Christine L. Owens, executive director, National Employment Law Project
Gary Bass, executive director, OMB Watch
Adam Lioz, program director, Progressive Future
Joanne Carter, executive director, RESULTS
William McNary, president, USAction
Paula Brantner, executive director, Workplace Fairness
Dan Cantor, executive director, Working Families Party
Mark Lotwis, executive director, 21st Century Democrats

Source: OurFuture

posted 27 September 2008 

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AALBC.com's 25 Best Selling Books

 

Fiction

#1 - Justify My Thug by Wahida Clark
#2 - Flyy Girl by Omar Tyree
#3 - Head Bangers: An APF Sexcapade by Zane
#4 - Life Is Short But Wide by J. California Cooper
#5 - Stackin' Paper 2 Genesis' Payback by Joy King
#6 - Thug Lovin' (Thug 4) by Wahida Clark
#7 - When I Get Where I'm Going by Cheryl Robinson
#8 - Casting the First Stone by Kimberla Lawson Roby
#9 - The Sex Chronicles: Shattering the Myth by Zane

#10 - Covenant: A Thriller  by Brandon Massey

#11 - Diary Of A Street Diva  by Ashley and JaQuavis

#12 - Don't Ever Tell  by Brandon Massey

#13 - For colored girls who have considered suicide  by Ntozake Shange

#14 - For the Love of Money : A Novel by Omar Tyree

#15 - Homemade Loves  by J. California Cooper

#16 - The Future Has a Past: Stories by J. California Cooper

#17 - Player Haters by Carl Weber

#18 - Purple Panties: An Eroticanoir.com Anthology by Sidney Molare

#19 - Stackin' Paper by Joy King

#20 - Children of the Street: An Inspector Darko Dawson Mystery by Kwei Quartey

#21 - The Upper Room by Mary Monroe

#22 – Thug Matrimony  by Wahida Clark

#23 - Thugs And The Women Who Love Them by Wahida Clark

#24 - Married Men by Carl Weber

#25 - I Dreamt I Was in Heaven - The Rampage of the Rufus Buck Gang by Leonce Gaiter

Non-fiction

#1 - Malcolm X: A Life of Reinvention by Manning Marable
#2 - Confessions of a Video Vixen by Karrine Steffans
#3 - Dear G-Spot: Straight Talk About Sex and Love by Zane
#4 - Letters to a Young Brother: MANifest Your Destiny by Hill Harper
#5 - Peace from Broken Pieces: How to Get Through What You're Going Through by Iyanla Vanzant
#6 - Selected Writings and Speeches of Marcus Garvey by Marcus Garvey
#7 - The Ebony Cookbook: A Date with a Dish by Freda DeKnight
#8 - The Isis Papers: The Keys to the Colors by Frances Cress Welsing
#9 - The Mis-Education of the Negro by Carter Godwin Woodson

#10 - John Henrik Clarke and the Power of Africana History  by Ahati N. N. Toure

#11 - Fail Up: 20 Lessons on Building Success from Failure by Tavis Smiley

#12 -The New Jim Crow: Mass Incarceration in the Age of Colorblindness by Michelle Alexander

#13 - The Black Male Handbook: A Blueprint for Life by Kevin Powell

#14 - The Other Wes Moore: One Name, Two Fates by Wes Moore

#15 - Why Men Fear Marriage: The Surprising Truth Behind Why So Many Men Can't Commit  by RM Johnson

#16 - Black Titan: A.G. Gaston and the Making of a Black American Millionaire by Carol Jenkins

#17 - Brainwashed: Challenging the Myth of Black Inferiority by Tom Burrell

#18 - A New Earth: Awakening to Your Life's Purpose by Eckhart Tolle

#19 - John Oliver Killens: A Life of Black Literary Activism by Keith Gilyard

#20 - Alain L. Locke: The Biography of a Philosopher by Leonard Harris

#21 - Age Ain't Nothing but a Number: Black Women Explore Midlife by Carleen Brice

#22 - 2012 Guide to Literary Agents by Chuck Sambuchino
#23 - Chicken Soup for the Prisoner's Soul by Tom Lagana
#24 - 101 Things Every Boy/Young Man of Color Should Know by LaMarr Darnell Shields

#25 - Beyond the Black Lady: Sexuality and the New African American Middle Class  by Lisa B. Thompson

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Malcolm X

A Life of Reinvention

By Manning Marable

Years in the making-the definitive biography of the legendary black activist.

Of the great figure in twentieth-century American history perhaps none is more complex and controversial than Malcolm X. Constantly rewriting his own story, he became a criminal, a minister, a leader, and an icon, all before being felled by assassins' bullets at age thirty-nine. Through his tireless work and countless speeches he empowered hundreds of thousands of black Americans to create better lives and stronger communities while establishing the template for the self-actualized, independent African American man. In death he became a broad symbol of both resistance and reconciliation for millions around the world.

Manning Marable's new biography of Malcolm is a stunning achievement. Filled with new information and shocking revelations that go beyond the Autobiography, Malcolm X unfolds a sweeping story of race and class in America, from the rise of Marcus Garvey and the Ku Klux Klan to the struggles of the civil rights movement in the fifties and sixties.

Reaching into Malcolm's troubled youth, it traces a path from his parents' activism through his own engagement with the Nation of Islam, charting his astronomical rise in the world of Black Nationalism and culminating in the never-before-told true story of his assassination. Malcolm X will stand as the definitive work on one of the most singular forces for social change, capturing with revelatory clarity a man who constantly strove, in the great American tradition, to remake himself anew.

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The Gardens of Democracy: A New American Story

of Citizenship, the Economy, and the Role of Government

By Eric Liu and Nick Hanauer

American democracy is informed by the 18th century’s most cutting edge thinking on society, economics, and government. We’ve learned some things in the intervening 230 years about self interest, social behaviors, and how the world works. Now, authors Eric Liu and Nick Hanauer argue that some fundamental assumptions about citizenship, society, economics, and government need updating. For many years the dominant metaphor for understanding markets and government has been the machine. Liu and Hanauer view democracy not as a machine, but as a garden. A successful garden functions according to the inexorable tendencies of nature, but it also requires goals, regular tending, and an understanding of connected ecosystems. The latest ideas from science, social science, and economics—the cutting-edge ideas of today—generate these simple but revolutionary ideas: (The economy is not an efficient machine. It’s an effective garden that need tending. Freedom is responsibility.

Government should be about the big what and the little how. True self interest is mutual interest. We’re all better off when we’re all better off. The model of citizenship depends on contagious behavior, hence positive behavior begets positive behavior

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Across That Bridge: Life Lessons and a Vision for Change

By John Lewis

The Civil Rights Movement gave rise to the protest culture we know today, and the experiences of leaders like Congressman Lewis have never been more relevant. Now, more than ever, this nation needs a strong and moral voice to guide an engaged population through visionary change. Congressman John Lewis was a leader in the American Civil Rights Movement. He was chairman of the Student Nonviolent Coordinating Committee (SNCC) and played a key role in the struggle to end segregation. Despite more than forty arrests, physical attacks, and serious injuries, John Lewis remained a devoted advocate of the philosophy of nonviolence. He is the author of his autobiography, Walking with the Wind: A Memoir of a Movement, and is the recipient of numerous awards from national and international institutions, including the Lincoln Medal; the John F. Kennedy “Profile in Courage” Lifetime Achievement Award (the only one of its kind ever awarded); the NAACP Spingarn Medal; and the Presidential Medal of Freedom, the highest civilian honor, among many others.

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So Rich, So Poor: Why It's So Hard to End Poverty in America

By Peter Edelman

If the nation’s gross national income—over $14 trillion—were divided evenly across the entire U.S. population, every household could call itself middle class. Yet the income-level disparity in this country is now wider than at any point since the Great Depression. In 2010 the average salary for CEOs on the S&P 500 was over $1 million—climbing to over $11 million when all forms of compensation are accounted for—while the current median household income for African Americans is just over $32,000. How can some be so rich, while others are so poor? In this provocative book, Peter Edelman, a former top aide to Senator Robert F. Kennedy and a lifelong antipoverty advocate, offers an informed analysis of how this country can be so wealthy yet have a steadily growing number of unemployed and working poor. According to Edelman, we have taken important positive steps without which 25 to 30 million more people would be poor, but poverty fluctuates with the business cycle.

The structure of today’s economy has stultified wage growth for half of America’s workers—with even worse results at the bottom and for people of color—while bestowing billions on those at the top. So Rich, So Poor delves into what is happening to the people behind the statistics and takes a particular look at the continuing crisis of young people of color, whose possibility of a productive life too often is lost on their way to adulthood.DemocracyNow 

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The Warmth of Other Suns

The Epic Story of America's Great Migration

By Isabel Wilkerson

Ida Mae Brandon Gladney, a sharecropper's wife, left Mississippi for Milwaukee in 1937, after her cousin was falsely accused of stealing a white man's turkeys and was almost beaten to death. In 1945, George Swanson Starling, a citrus picker, fled Florida for Harlem after learning of the grove owners' plans to give him a "necktie party" (a lynching). Robert Joseph Pershing Foster made his trek from Louisiana to California in 1953, embittered by "the absurdity that he was doing surgery for the United States Army and couldn't operate in his own home town." Anchored to these three stories is Pulitzer Prize–winning journalist Wilkerson's magnificent, extensively researched study of the "great migration," the exodus of six million black Southerners out of the terror of Jim Crow to an "uncertain existence" in the North and Midwest.

Wilkerson deftly incorporates sociological and historical studies into the novelistic narratives of Gladney, Starling, and Pershing settling in new lands, building anew, and often finding that they have not left racism behind. The drama, poignancy, and romance of a classic immigrant saga pervade this book, hold the reader in its grasp, and resonate long after the reading is done.

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The White Masters of the World

From The World and Africa, 1965

By W. E. B. Du Bois

W. E. B. Du Bois’ Arraignment and Indictment of White Civilization (Fletcher)

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Ancient African Nations

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The Death of Emmett Till by Bob Dylan  The Lonesome Death of Hattie Carroll  Only a Pawn in Their Game

Rev. Jesse Lee Peterson Thanks America for Slavery / George Jackson  / Hurricane Carter

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The Journal of Negro History issues at Project Gutenberg

The Haitian Declaration of Independence 1804  / January 1, 1804 -- The Founding of Haiti 

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update 24 June 2012

 

 

 

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