Update: The letter was published on March 12, 2014.
To the editor:
With friends like Lois Capps, who needs Republicans? Once again, our Congressperson has sold out her constituents – the 99%, that is. Not long ago she voted in favor of giving the President the power to arrest and imprison indefinitely any person, including U.S. citizens, who he decided was a terrorist. So much for our personal freedoms. Now, Lois has inserted herself into our pocketbooks, voting in favor of a bill – misleadingly called the JOBS act – that weakens regulation of corporate stock offerings, diluting, and in some cases eliminating, their disclosure requirements and abandoning longstanding rules protecting individual investors from fraud and overreaching by corporations and the sellers of their stock. Companies are now able to peddle stock publicly – using the Internet, for example – without heeding many of the regulatory requirements that protected investors’ pocketbooks in the past.
This enactment is said to make it easier for companies to raise capital. Haven’t we heard this refrain before? Isn’t the absence of regulation precisely what got us into this ugly economic mess? And who benefits from this law? You guessed it – the corporations. And if Representative Capps has the temerity to suggest that the bill will create jobs, I suggest she answer this question: Where’s the evidence? The short answer is, There is none – absolutely no studies, no empirical evidence was submitted to the House supporting the notion that by loosening reporting requirements on corporations more jobs will be created – except, of course, on Wall Street and, eventually, among bankruptcy lawyers
It’s not like it was an inconsequential vote. By voting to pass the 2011 Defense Authorization Act, Ms. Capps, in direct contravention of the fifth and sixth amendments to the US constitution, vested the federal executive with unreviewable power to determine what constitutes “material support” of terrorists, to decide who has provided such support and to slap them in military prisons for so long as he or she deems proper. No hearing, no lawyer, no court review, nothing. Summary indeterminate imprisonment, imposed by a single person, the president. If that sounds like vesting the Chief Executive with the powers of a dictator, it’s because that’s exactly what it is.
And so, on her website, “applauding” passage of the bill, did she tell us any of this? No. Check it out. What she shared with us—the only facet of the bill she mentioned—was a feature of the bill that provides funding of some small business efforts along the Central Coast. Some transparency.
Herewith is a letter to the editor of the SB NewsPress that I sent today. I'll update this post if/when it's published.
Update: The letter was published on September 24, 2011.
Several liberal bloggers and essayists predict that an “Arab spring” will soon come to America: that after three years of Democrats’ (read Obama’s) failures (1) to rein in the excesses of wealthy traders and profiteering corporations; (2) to support the needs of the poor and middle class for jobs and decent incomes; and (3) to end Bush’s wars and egregious violations of our privacy, a mass of disaffected Obama voters (acronym: a D.O.V. movement) will take to the streets to force their representatives to fundamentally change America’s international and domestic policies.
To which predictions I reply: LOL. Americans are too chained to cable TV and Internet connections; too stressed by falling values of their homes and retirement accounts; too fixated on consumption and maintaining incomes to support that consumption. No, the time for an American “Arab spring” has passed; its people are too cowed, too lost in the maze of distractions created by those in power: power over our finance, our media, our governance.
The most Americans can hope for is that our inevitable decline ends in a soft landing. And the most Obama can hope for after his single term as president is that, having presided over the demolition of the hopes and aspirations of his constituents—traditional progressives and, most appallingly, minorities and the youth—by his repudiation of his campaign promises, he ends up being second on the “worst president ever” list, behind only Harrison, who died after thirty days in office.