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Banksters Turn against Obama; Randy Shannon; Progressive Democrats of America – PA 12th CD Chapter; August 9, 2012.
You can learn more about BCR’s leftster management here.
From 2004 to 2008, the BCT published at least 17 letters from Mr. Shannon. I found none since 2008. You can find my critiques of those letters here, here, here, here, and here. In addition to what you learned about Mr. Shannon’s positions here and in his letters to the editor, consider the following exchange on a fellow BCR member’s Facebook wall (9/27/11).
Lefty #1: “Capitalism has to go. Merely taxing/regulating always fails in the end.”
Mr. Shannon: “Divide and conquer. Take down the crazy bankers first.”
The most recent previous Randy Shannon piece I critiqued was “Democrats Must Fight for the 99% to Win in 2012.”
“When the banksters wrecked the economy in 2007, they jumped on the Obama campaign bandwagon in hopes of saving their positions of power in the economy and the government.”
[RWC] Like labor union management? There’s a reason 94% of labor union management PAC contributions to federal candidates (about $70 million) went to Democrat candidates in 2010. In 2008, that figure was 92% ($68.8 million out of $74.9 million).
The Finance/Insurance/Real Estate sector tends to contribute more to Republicans than Democrats, but the disparity is not even close to that of labor union management. From the 2000 through the 2010 elections, the portion contributed to Republicans ranged from 49% (2008) to 59% (2000 & 2004). In 2010, the portion given to Republicans was 53%.
If you really want to know what “wrecked the economy in 2007,” please read my critique of “Let us have some of the $700 trillion.”
FYI, lefties tell me “bankster” is the combination of banker and gangster. Though redundant, “leftster” is the combination of leftist and gangster.
“They were able to achieve a lot of their objectives under Obama, but not all of them. The Consumer Protection Act and Obama’s attempt to liquidate Citibank rubbed the banksters the wrong way.”
[RWC] Note Mr. Shannon didn’t describe the “objectives” he mentioned.
“Now, the banksters want more than Obama can deliver. As the story below reveals, they have executed an about-face and are throwing their money at Romney.”
[RWC] As shown by the trend noted above, any “about-face” likely won’t be large.
“If Obama is re-elected the banksters chance for a double down on their economy-wrecking program may be at risk. If Obama is elected there will be a real struggle to save Medicare and Social Security from the cuts the banksters have planned.”
[RWC] Does Mr. Shannon mean in addition to the $500 billion Obamacare takes from Medicare? (Note: As of 7/24/12, the $500 billion over 10 years became $716 billion.) Mr. Shannon didn’t describe the “economy-wrecking program” he mentioned.
“It will take an aware and energetic voter turnout to beat the banksters in a presidential election. The big money is on Romney but the people will decide.”
[RWC] I wonder if Mr. Shannon was concerned about “big money” in 2008. During the 2008 campaign, the Obama campaign outspent the McCain campaign by more than double, or by $397 million. Overall in 2008, Democrats outspent Republicans 57% to 42%. During the 2010 campaign, the breakdown was 50% for Democrats and 49% for Republicans.
In Peace, Friendship, Community, Cooperation, and Solidarity. <g>
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