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