Read Excerpts From “13 Bankers”

I’m reading Simon Johnson and James Kwak’s new book — “13 Bankers, the Wall Street Takeover and the Next Financial Meltdown” – and posting a summary and excerpts of each chapter. Here is my progress so far:

Archives

Time for Marc Dann to Go!

The most difficult political decisions can sometimes involve cutting loose one of your own.

When political leaders and the party they represent fail to recognize that one of their peers is failing them, their party and more importantly the citizens they are supposed to represent, then usually the faulty politician brings others down with them.

This is the exact scenario faced by leaders of the Ohio Democratic party and the failure of Ohio Attorney General Marc Dann.

At this point, there is NO doubt Marc Dann is not capable of providing adequate leadership as Ohio’s Attorney General.

The only question remaining is will the

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Super Delegates Could Split Dems

The leaders of the Democratic Party, Dean, Pelosi, Reid et al are singing from the same hymnal when they chant the Democrats will unite behind the eventual Democratic Party Presidential nominee.

This is hopeful thinking on their part.

The Obama campaign has attracted historically large numbers of new voters to the Democratic primary process. Most of these voters became involved and voted in the Democratic primaries because of vision of the future offered by Obama and his campaign. In addition, large numbers of Democrats and even some Republicans jumped on the Obama band wagon because they were tired of the same

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Two Ohioans Die Every Day Because of a Lack of Health Insurance

Each day in 2006, roughly two Ohioans between the ages of 25 and 64 died because they didn’t have health insurance, a report released Tuesday said.

Between 2000 and 2006, more than 5,100 working-age adults in Ohio died because they lacked health insurance, according to the report issued by the Families USA. The national health care advocacy group is releasing similar studies for states around the country.

The country’s mortality rate due to a lack of health insurance was about twice as high as the number of deaths caused by homicide for this age group in 2006, Families USA Executive Director Ron

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Pay Day Lending Grows While Politicians Ponder

The number of payday lending stores licensed in Ohio continues to grow, from 107 locations in 1996 to 1,638 locations in 2007, a more than fourteen-fold increase since 1996, according to an updated report from the Housing Research & Advocacy Center and Policy Matters Ohio.

The number of payday lending locations in Ohio has exploded in the past decade. Payday lending shops sell short-term, high-interest loans against a future paycheck. Fees in Ohio are usually $15 for every $100 borrowed for a two-week period, which amounts to an annual percentage rate of 391 percent. “The outrageous fees charged by payday lenders

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Bankers $30,000,000,000, Home Owners $0

Well the well-healed Republicans that love to rant about BIG government have done it again. They have bailed out the Bankers to the tune of $30 billion while resisting proposals to help millions of Americans at risk of losing their homes in the predatory lending fiasco.

Even the Bear Stearns employees are getting the shaft in the process.

Read the following column by E.J. Dionne Jr.

Never do I want to hear again from my conservative friends about how brilliant capitalists are, how much they deserve their seven-figure salaries and how government should keep its hands off the private economy.

The Wall

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What Does Fred Strahorn Do Now?

40th District Ohio House of Representative Fred Strahorn has an important decision to make following his failure to get the appointment to the open Ohio PUCO seat.

Strahorn is term limted and will be out of elective office next year. He has been promised the support of the Montgomery County Democratic Party if he decides to hang around and seek the 5th Ohio Senate seat currently held by Tom Roberts. Roberts is ineligible to run for another term in the 2010 elections.

In fact, word on the street is Roberts has agreed to step down early so Strahorn could be

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Failure to Launch

Representative Dave Hobson is a Republican in the old mold. Stocky, silver-haired, and congenial, the 71-year-old Ohio congressman is a fiscal hawk and a gun-rights supporter but has no truck with the religious right. He works hard in the legislative trenches tending to the arc of suburban and rural counties near Columbus that he’s represented since 1991. Like his home territory, the legislative terrain Hobson occupies is solid if unexciting; he’s the guy you might catch on c-span picking through a military construction bill.

Two things color Hobson’s views on policymaking: his success as a small businessman—he became wealthy from commercial

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Dayton Should Join Cleveland Lawsuit on Predatory Lending

The City of Dayton and it’s citizens have been victimized by the same financial institutions named in the City of Cleveland lawsuit.  The Dayton Chamber of Commerce, local large financial institutions, Jon Husted, Jeff Jacobson and the rest of the GOP leadership fought the attempts of the City of Dayton to restrict predatory lending.

Our City leaders should file suit for damages!

The City of Cleveland filed a public nuisance lawsuit Friday against 21 of the nation’s biggest names in finance in an attempt to recover damages for their role in a sub-prime market that fueled an ongoing foreclosure crisis.

A 28-page complaint filed in

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Husted Lives in “Fantasy Land”

Dayton’s own Speaker of the Ohio House of Representatives Jon Husted believes “market forces” are the best way to protect consumers.

Ohio small business owners don’t think so…

Ohio consumers don’t think so…

History tells us unfettered free markets will not serve the interests of the people and our communities.

I wonder if Husted’s faith in the “free markets” is influenced by his millions in corporate campaign contributions?

House Speaker Jon Husted said Thursday the affordability and predictability of electric rates are key factors in the state’s future, and that market forces are key to assuring protections for consumers.

Husted made the points in a series

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Mike Turner Votes NO on Energy Independence

A year of rhetoric, lobbying, veto threats and negotiations ended yesterday as the House of Representatives voted 314 to 100 to pass (Mike Turner Voyed NO) an energy bill that President Bush is to sign this morning. The bill will raise fuel-efficiency standards for automobiles, order a massive increase in the use of biofuels and phase out sales of the ubiquitous incandescent light bulb popularized by Thomas Edison more than a century ago.

Lawmakers said the energy bill will reduce America’s heavy reliance on imported oil and take a modest step toward slowing climate change by cutting about a quarter of

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