Wednesday, January 16, 2019

Socialist Alexandria Ocasio-Cortez Recommended for House Finance Committee

Alexandria Ocasio-Cortez 
Just days after House speaker Nancy Pelosi prevented Alexandria Ocasio-Cortez from gaining a seat on the House Ways and Means Committee, the Democratic Party's steering committee voted to recommend her for the House Financial Services Committee.

According to Bloomberg, she will now almost certainly join the powerful committee that oversees Wall Street.

Two other recently elected radical lefty Democrats, Rashida Tlaib of Michigan and Katie Porter of California, are also likely to join the committee.

Nutjob Representative Maxine Waters will be the chair.

Wall Street needs to be very concerned.

“Financial Services is one of just four exclusive committees in the House. It oversees big banks, lending, & the financial sector. I am very grateful for the opportunity to sit on this committee as a freshman, and look forward to working under the leadership of @RepMaxineWaters!”” Ocasio-Cortez said in a Twitter post on Tuesday night.

“Personally,” she said in another post, “I’m looking forward to digging into the student loan crisis, examining for-profit prisons/ICE detention, and exploring the development of public & postal banking. To start.”

Postal banking?  In other words, the government taking direct control of a chunk of consumer banking. Where did she come up with this? Those who think she is a flash in the pan and will have no influence are gravely mistaken.



  1. Seeing this and your other article on the huge support for 70% taxation, I'm beginning to understand how topsy-turvy things felt during FDR's first administration, and how alarmed and concerned people like Albert Jay Nock, John Flynn, H.L. Mencken and Garret Garrett were back then, at the rapid abandonment of American principles. The siren-song of socialism, Big Government and central-planning appears again to be irresistible to so many Americans, and is alarming and depressing for me...

  2. Honestly, after 10 years of zero % interest rates that have enriched the banking elite at the expense of every prudent saver in this country, I can not imagine a better choice for this position.

    It's not enough that we have had 10 years of 0% interest rates, but now president Donald Dow Jones gave every corporation a tariff/deficit funded tax windfall to create jobs. What did most CEO's do? They enriched themselves with stock buy backs. Sears is the poster child for stock buy backs, but Eddie will walk away smelling like a rose wont he? I'm not sure what will end this nonsense, do we need socialism to put an end to this nonsense with a 99% tax rate? If Eddie tries to leave, build a wall to keep him in.

    In the recently released minutes released the Federal Reserve they admitted as much as Fisher stated: "I just want to reiterate my mantra: Unless fiscal and regulatory policy incents business to use the cheap and abundant capital we’ve made available, it will not be used to create jobs to the degree that we desire. It will be used to set the stage, but it cannot lift the curtain and act the play. And it has, I believe, had a wealth effect, but principally for the rich and the quick—the Buffetts, the KKRs, the Carlyles, the Goldman-Sachs's, the Powell's, maybe the Fishers—those who can borrow money for nothing and drive bonds and stocks and property higher in price, and profit goes to their pocket."

    Then there is the issue where the Federal Reserve pays banks interest on their “Excess Reserves” and “Required Reserves” that comes out of the taxpayer’s pocket and is transferred to the banks to become bank profits, funded by the dear taxpayers ($38.5 billion in 2018).

    I say enough. Burn the system to the ground and start over.

    1. I would say that anyone who got 0% on savings over the past 10 years is not very prudent. Why wouldn't such a person take part in stocks, bonds and house prices being driven higher?

    2. Perfect, so every grandmother & grandfather have to start watching CNBC in lieu of Wheel of Fortune and Jeopardy.

      Because the good folks on CNBC will tell you the precise moment to sell your stocks and bonds.

      If that does not work out for grandma and grandpa they can start flipping houses.

      Fantastic advise.