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    • The Celibacy Wars: A Reason for Hope? August 9, 2014
      Quite suddenly, my news feeds are full of stories and opinion pieces on celibacy and gay Christians, from the evangelical Christian Charisma News and the like on the one hand, to the gay Advocate on the other. On the religious…Read more →
      Terence Weldon
    • Pope Francis: The Family as a “Centre of Love” – and Inclusion. August 8, 2014
      In a message to the First Latin American Congress on the Pastoral Care of the Family in Panama, Pope Francis’ thoughts on the nature of family deserve close attention by LGBT Catholics. What is the family? Beyond its more pressing problems…Read more →
      Terence Weldon
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    • Gay Games Symposium July 21, 2014
      I am pleased and honored that the UCC has asked me to moderate a symposium during the games entitled Queer Christians: Celebrating the Past, Shaping the Future. [[ This is a content summary only. Visit my website for full links, other content, and more! ]]
      Obie Holmen
    • Email sent to my followers June 27, 2014
      Whew! It's time to catch my breath. Since the release of Queer Clergy in February, I've been on the road ... Minnesota, Wisconsin, Illinois, and California. I have been the guest of book clubs, adult forums, LGBT reconciling groups, the Pacific School of Religion, and I've been a guest preacher (always a treat for an old lawyer). I've mad […]
      Obie Holmen
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    • Where Are You? October 26, 2011
      Greetings to all others who grace these pages! Thank you for stopping by. If you still have a reader pointed here, this blog no longer publishes in this location, but can be found at this new link. Please subscribe to the new feed, get the new blog via email or read us by liking us on Facebook or by following me on Twitter.If you want more, please feel free […]
      noreply@blogger.com (Fran)
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    • "Can You See the Lark Ascending?" August 28, 2014
      A compilation of reviews of Kate Bush'striumphant return to the stage.Few comebacks in pop history have inspired as much anticipation as "Before the Dawn," Kate Bush's momentous return to the stage. The first of 22 shows in a run at the Hammersmith Apollo left fans and admirers assured of the lady's unique place in the canon of innov […]
      noreply@blogger.com (Michael J. Bayly)
    • Debunking Paul Johnson's Gay Reading of Song of Songs August 26, 2014
      One of the most consistently popular posts at The Wild Reed is the April 2, 2008 post "Song of Songs: The Bible's Gay Love Poem." In this post I reprint a review by Jim Kepner (from the International Gay and Lesbian Review) of Dr. Paul R. Johnson’s out-of-print book, The Song of Songs, A Gay Love Poem (Fidelity Press, 1995).Recently, "Mic […]
      noreply@blogger.com (Michael J. Bayly)
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    • Apologies for Absurd Spell-Correct Error August 26, 2014
      My apologies to readers that I did not see until now the crazy spell-check correction the automatic-insert program made in my first posting today. I typed "evangelical pastors," and sassy Ms. Spell-Check changed the phrase to "evangelical pastures." She has done that before when I type the word "pastors." This time, I didn' […]
      noreply@blogger.com (William D. Lindsey)
    • Talking About Exile: Valuable Testimony from Tom Doyle and Ruth Krall August 26, 2014
      Yesterday, I looked at the movement now developing among conservative Christians in the U.S. to herd the church into exile. The reasoning that lies behind this rhetoric appears to be that since contemporary American culture has resisted the attempt of the churches to control culture to offer the good news of Christ to it via culture wars, the churches are le […]
      noreply@blogger.com (William D. Lindsey)
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    • the way ahead March 23, 2013
      My current blog is called the way ahead.
      noreply@blogger.com (PrickliestPear)
  • RSS The Gay Mystic

    • The travails of young love July 30, 2014
      On a bit of a hiatus from blogging for the summer as I recollect my spirit, but I may have some reflections to share this weekend about the difficulties of young love. Been listening to tales of heartbreak from some of my young students. And young River Viiperi has broken from his partner of two years, Paris Hilton, so these must be difficult days for him as […]
      noreply@blogger.com (Jayden Cameron )
    • Papa Francesco does it again July 14, 2014
      Well, the whole world - or at least the semi Christian world - is all a flutter over yet another freewheeling interview of Pope Francis conducted by acknowledged atheist and La Republica journalist Eduardo Scalfari. Before the ink had barely dried, Father Lombardi of The Vatican Press Office was already huffing out his damage control , assuring us that Scalf […]
      noreply@blogger.com (Jayden Cameron )
  • RSS The Jesus Manifesto

    • プロミスとアコムならどっちで借りるべきか? August 2, 2014
      借り入れまでの審査時間の短さで、キャッシング先を消費者金融にしようと決めた方もどこの消費者金融がよいのかで困っていませんか?消費者金融でもトップといってもよいプロミスとアコム、借りるならどっちを選ぶとよいのでしょうか。プロミスの最大の特徴は、金利の低さでしょう。プロミスの金利幅は、4.5%~17.8%の実質年率となっています。比較してアコムの金利幅は4.7%~18.0%となっています。(アコムカードローンでの金利となり、アコムクレジットカードでのキャッシング金利は違ってきます。)また、無利息サービスもプロミスは、プロミスポイントサービスにお申込された方が対象に行われています。一方のアコムでは、無利息は期間限定のサービスとなっています。いずれも無利息になるためには条件があるのですが、プロミスではポイントサービスへ […]
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  • RSS Perspective

    • The resurrection of Thomas Riker August 27, 2014
      One of the things I like about the book I'm now reading - Star Trek: The Fall: The Poisoned Chalice - is that it includes the character of Thomas Riker. For those not Star Trek fans, Thomas Riker was introduced in the tv episode, Second Chances, in which Commander Riker comes face to face with an exact duplicate of himself, created years earlier by a tr […]
      noreply@blogger.com (crystal)

Time For The USCCB To Back Obama On Regulating Financial Sector

 

 

Paul Volcker Prevails

Simon Johnson - Huffington Post - 1/21/10

Paul Volcker, legendary central banker turned radical reformer of our financial system, has won an important round. The WSJ is now reporting:

President Barack Obama on Thursday is expected to propose new limits on the size and risk taken by the country’s biggest banks, marking the administration’s latest assault on Wall Street in what could mark a return — at least in spirit — to some of the curbs on finance put in place during the Great Depression.

This is an important change of course that, while still far from complete, represents a major victory for Volcker – who has been pushing firmly for exactly this.

Thursday’s announcement should be assessed on three issues.

1. Does the president provide a clear statement of why we need these new limits on banks? The administration’s narrative on what caused the crisis of 2008-09 has been lame and completely unconvincing so far. The president must take it to the banks directly – tracing the origins of our “too big to fail” vulnerabilities to the excessive deregulation of banks following the Reagan Revolution and emphasizing how much worse these problems became during the Bush years.

 2. Are the proposed limits on the total size (e.g., assets) of banks, or just on part of their operations – such as proprietary trading? The limits need to be on everything that banks do, if they are to be meaningful at all. This is not a moment for technocratic niceties; the banks must be reined in, simply and directly.

 3. Is there a clear strategy for (a) taking concrete workable proposals directly to Congress, and (b) win, lose, or draw in the Senate, running hard with this issue to the midterm elections?

Push every Republican to take a public stand on this question, and you will be amazed at what you hear (if they stick to what they have been saying behind closed doors on Capitol Hill.)

The spin from the White House is that the president and his advisers have been discussing this move for months. The less time spent on such nonsense tomorrow the better. The record speaks for itself, including public statements and private briefings as recently as last week – this is a major policy change and a good idea.

The major question now is – will the White House have the courage of its convictions and really fight the big banks on this issue? If the White House goes into this fight half-hearted or without really understanding (or explaining) the underlying problem of unfettered banks that are too big to fail, they will not win.

President O’bama is finally getting it.  We can not meaningfully address problems in the United States if we do not address the excesses in the financial industry.  The financial sector is the foundation for everything else in this country.  If it stays rotten in it’s philosophy and practices,  that cancer will drive everything else.  As long as profit at all costs rules our society it is pointless to speak about any other cultural issues.  It is the unfettered and unregulated pursuit of profit which is the single biggest contributor to the culture of death.  It is not abortion.  It is not gay marriage.  It is not stem cell research. 

Forget health care as that is a dead horse and it deserves to be.  This vein attempt to hide another hideous corporate welfare program behind concern for unisured Americans deserves to be buried.  It’s epitaph should include the idea that it was the last failed attempt by corporate interests to purchase this government and fleece it’s people for the sake of corporate profit. 

Here’s a simple thought direct from the pen of Pope Benedict:  People must come before profit.  It’s a thought the USCCB should be all over in demanding the President Obama finally walk his talk.  They should man up and take their croziers and start shaking them in the faces of any politician or corporate board member who balks at regulating the financial industry.  Forget about sending hapless poor women to hell for caving into the economic expediency of abortion or castigating gay couples for the crime of loving one another.  Get after the real cancer.  That’s the one currently on display in all it’s virulence in Haiti.  That’s the same cancer that has eaten away the life savings of too many senior Americans, forced solid traditional families out of their homes,  resulted in millions unable to find jobs, taken hope in the future from our younger generations, made our own health care a distant second to plain old survival, allowed wealth distribution in this country to lag behind third world countries, and greases the wheels of two war machines grinding up the lives of our soldiers and the mostly innocent populations in the countries in which they are operating.

Go after the real cancer bishops and support this president on this issue no matter what you think of his take on any other issue.  If Americans can’t afford to survive in America all the rest of your disagreements are meaningless dross.

4 Responses

  1. Amen for long overdue miricles.

    • I know, I know; it’s “miracles,” not “miricles.”

  2. Frank, I can’t believe that just after I posted this SCOTUS gave us the ruling that does indeed open the door for Corporate America to buy our government and fleece us for the sake of corporate profit.

    • I believe it, especially after 30 years of stacking the Court with the likes of Scalia, Thomas and Roberts.

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