Portside

REWIND - A Week of Quotes and Cartoons

SUNDAY

Quote of the Day

July 21, 2013

'The inflated aluminum pricing is just one way that

Wall Street is flexing its financial muscle and

capitalizing on loosened federal regulations to sway

a variety of commodities markets, according to

financial records, regulatory documents and

interviews with people involved in the activities.

'The maneuvering in markets for oil, wheat, cotton,

coffee and more have brought billions in profits to

investment banks like Goldman, JPMorgan Chase

and Morgan Stanley, while forcing consumers to pay

more every time they fill up a gas tank, flick on a

light switch, open a beer or buy a cellphone...'

New York Times

July 21, 2013

 

Toon of the Day

School Funding

Milt Priggee

MONDAY

Quote of the Day

'Wall Street held itself a big fat profit party last week.

The nation's six largest banks reported $23 billion

in profits. That's for one quarter -- three months.

Pop the Champagne. Buy another Lamborghini.

'Well, if you're a Wall Street banker, that is. Not if

you're a college student looking for a loan. 'Cause

bankers and Congress don't intend to give you a

break today.

'Not if you're one of the tens of thousands of workers

furloughed because of the sequester. 'Cause

Congress has no intention of charging highflying

banks a financial transaction tax, the revenues from

which could prevent many of those cuts.

'Not if you're one of those middle class Americans

who bailed out the banks and now fears renewed

recklessness on Wall Street will require another

rescue. 'Cause Wall Street has persuaded Congress

that it really, really should not closely regulate

banks.'

United Steelworkers President Leo Gerard

blog

Huffington Post

July 22, 2013

 

Toon of the Day

Diversity

Ted Rall

TUESDAY

Quote of the Day

'This has all the markings of a larger game.  The

heavy doses of symbolism in the sell-offs and

pension cuts serve a number of purposes, and one

of the biggest is to reinforce the idea that the United

States can no longer afford the financial security of

its middle class.

'Next stop, Social Security. The same myths used to

push pension fear - changing demographics and

worker-to-retiree ratios, "greedy geezers" - will have

been subliminally "verified" by these pension cuts.

That opens a door that should remain closed, for

sound economic reasons as well as ones of basic

fairness.'

Richard (RJ) Eskow, writer,

Senior Fellow, Campaign for

America's Future on the

threat to Detroit employees'

pensions

Campaign for America's Future

July 23, 2013

http://tinyurl.com/mawg6z8

Toon of the Day

Color Blind

Jen Sorensen

WEDNESDAY

Quote of the Day

'The UAW is deeply saddened by the Trayvon Martin

case and the tragic death of a vibrant young man.

The Florida Stand Your Ground law is an inhumane

piece of legislation that is leading to horrifying

consequences, not just this case, but many others.

'The UAW has a long history of fighting for fairness

and equality for everyone in society and will be a

strong voice for bringing justice in the Trayvon

Martin tragedy. We are committed to work together

with our allies in fighting for justice, beginning with

the August 24 March on Washington. We encourage

all UAW members and citizens of conscience to join

us in Washington, D.C., to demand enactment of a

new Voting Rights Act and justice in the Trayvon

Martin tragedy.'

Bob King President,

United Auto Workers

July 19, 2013

 

Toon of the Day

Prince and the Pauper

Tom Toles - Washington Post

THURSDAY

Quote of the Day

'"This is obscene. Students should not be used to

generate profits for the government.'

Senator Elizabeth Warren, Democrat

of Massachusetts on a 'bipartisan plan'

approved by the Senate that would tie

interest rates for college student loans

to the financial markets

New York Times

July 25, 2013

 

Toon of the Day

Bloodsuckers

Joel Pett - Lexington Herald-Leader

FRIDAY

Quote of the Day

'In these cases involving businesses, somehow a

contract is a contract, end of story. The relationship

is sacred and no one suggests changing the terms

after the fact. However, in the case of the pensions

for city workers, these are just office workers,

custodians, or garbage collectors. The media would

have us believe that contracts with these sorts of

people aren't real contracts. If they prove

inconvenient, then they can be changed.

'While that may be the view that the media is trying

to push, the rest of us should insist that the law

and the constitution be respected. Detroit’s city

workers have as much right to have their contracts

respected as the Wall Street bankers making

millions and billions off contracts that are often far

more questionable.

'This is class war at its ugliest. The elites have to

learn that they don't get to change the rules as they

go along, if they want their contracts to be respected

they will have to respect contracts that protect

working people as well.'

Economist Dean Baker

Yahoo Finance

July 19, 2013

 

Toon of the Day

National Sophistry Agency

Ted Rall

SATURDAY

Quote of the Day

'The looming time bombs of unfunded and

underfunded pension liabilities threaten to shred

the very fabric of American society. Detroit should

spur a frank discussion on American values. Will

we take the painful steps necessary to

fundamentally change our funding of retirement? Is

it okay to sell off public assets at pennies on the

dollar to satisfy bondholders, while reneging on

promises made to pensioners? Will we allow our

government to continue to favor Wall Street at the

expense of Main Street?'

Lauren Windsor

Lady Libertine

LA Progressive

July 27, 2013

 

Toon of the Day

Motor City Metaphor

Pat Bagley