End the Money Culture

There are few things that grab my attention as much these days as the money culture, its direct link to power and influence and the fact that it will likely not change anytime soon. This week it was reported that Morgan Stanley earned about $22 million in an electricity price fixing scheme which cost New York consumers $160 million. Their punishment? a fine of $4.8 million, no acknowledgement of wrongdoing, no criminal charges.

Union employees of the Port Authority have gotten approximately $600,000 worth of free tolls through company EZ Passes even for when they are off duty. Metropolitan Transit employees get free rides, sometimes for life while service is being cut and fares continue to rise.

Much has been made about how President Obama will raise $1 billion for his reelection campaign, wait until you see how much Mitt Romney raises from Goldman Sachs alone. Speaking of Goldman, they are reportedly on the war path against Obama because the Dodd Frank bill is impeding their ability to scam clients.

The impact of super pacs has yet to be determined but I predict that the republican nomination for president will be hard fought and lengthy even with Romney seemingly unstoppable. It is distressing and scary. With the exception of Ron Paul and Obama circa 2008 most political contributions are gotten from the big boys, the little people’s shekels are welcome but carry no influence or access. To play in the political arena still means prostituting for cash, no exceptions. Since real cash can only come from big players it’s those guys who get the access and the influence. Thus the rules of the game will likely remain in place no matter who gets elected.

So long as Goldman Sachs and the rich elite continue to blame the housing crisis on greedy homebuyers and congress and not on bogus securities they created with the assent of the ratings agencies, we will never really find an equitable way out it. The far right’s mouthpiece, Rush Limbaugh still spews the lie that banks did not create the crisis, congress did. And in one of the ultimate ironies, President Obama is running against the “do nothing” congress ala Harry S Truman after spending the last three and half years trying to make nice with them.

We face existential threats to our democracy and free market and we seemingly will only have a choice between bad and worse come November. For the poor and those in need of government assistance, a republican victory means Captain Slash will take over the White House, for the middle class and small business owner, Obama’s reelection means a continued stagnation of the free market and limited growth.

What is needed is nothing short of a revolution in how we gain and access power, what we will likely receive is more of the same. It has been proven that dissent is not tolerated too well in this democracy either; OWS shut down by police in every major city, Tea Party protesters forcibly taken out of town hall meetings. We can’t even scream loudly enough to get anyone to listen or to do anything about it.

Our hope lies in the strong fundamental foundations of our democracy and the resilience of the American people. America has always been the center of innovation and beacon of light to other nations. The money culture has skewed that role of leadership the US has played in the world and that needs to be repaired. American exceptionalism may sound like a slogan for right wingers but ask the immigrants who come here everyday what it means to them. Ask our World War II allies and even ask our defeated enemies whom we propped up and saved if America is exceptional; the answer has to be yes. The war in Iraq may be considered a mistake by many but ask the protesters in Tunisia, Libya, Syria, Yemen and Egypt where they got their inspiration from.

America’s best days are not behind it if we can find a way to control the damage, reform our system and find a way to revitalize our free market while caring for our unfortunate and hard hit. Not only do we need it to get us moving forward but the rest of the world needs it too – no exceptions.