Wednesday, December 30, 2009

Positions and Viewpoints: Banks

Since the early days of the Republic, the people of the United States have been wary of the aristocracy. The colonists fought the American Revolution to win their freedom from a European aristocracy which abused power and took advantage of colonial commerce for their own personal gain. From the beginning of this great democratic government, a struggle for power has ensued in which those of great wealth have sought and succeeded at dominating and controlling commerce. Our history offers many illustrations of wealth being used for political and personal gain to the detriment of the people.

The consolidation of power in the form of banks is not a new idea. A quick study of history will reveal that President Andrew Jackson (for all his shortcomings) opposed big banks, especially the Second Bank of the United States. Jackson felt that big banks consolidated too much power with the ability to control and corrupt. Jackson also felt that easy money created a false economy that could be manipulated by those controlling the banks. Despite warnings that his actions would cause serious economic problems, Jackson used his executive power to break up the Second Bank of the United States and distribute assets to twenty-three (23) state banks.

Throughout his presidency, Andrew Jackson waged a battle with the Second Bank of the United States and the American aristocracy. He felt big money led to corruption, selfishness, scandal, and mismanagement that sought to influence elections, pay off lawmakers, and control the nation’s economy. Jackson believed what history has too often confirmed, big money leads to the marshalling of power and influence by a few institutions and interests seeking to profit without regard for the people or the nation.

Today, we operate from an archaic set of principles. Our laws governing monopolies and trusts fall far short of the laws needed to protect the interests of hard working men and women in this country. Big banks such as Citicorp/Citibank, Chase, Bank of America, and J.P. Morgan are out of control. These megabanks have the power to manipulate the market - which is far from a free enterprise system and leads to corruption and abuse.

The “too-big-to-fail” banks represent a tyranny of the indispensable. These institutions have created a network of banks that provide services involving hedge funds, pension funds, mutual funds, and every imaginable pool of money. This interconnectedness caused the feeling that they needed to be bailed out for fear that a failure of one would cause a chain reaction of failures which would irreparably damage the economy.

The problem with the Troubled Asset Relief Program (TARP) is that while it shored up these megabanks, it did not cause these institutions to change their abusive practices. During 2008, the companies that received bailout money spent $114 million on lobbying and campaign contributions. These companies received $295 billion in bailout money. Sheila Krumholz, executive director of The Center for Responsive Politics, said of this information, “Even in the best economic times, you won’t find an investment with a greater payoff than what these companies have been getting.”

On top of this, TARP did not resolve unemployment, strengthen the economy, restore consumer confidence, or result in a miracle recovery. Banks that received bailout money paid their top executives nearly $1.6 billion in salaries, bonuses, and other benefits in 2007. Even though it has been promised that a cap is set on executive pay at companies that received bailout money, these companies are simply deferring compensation for unlimited stock options. And so, the big banks just get bigger, the CEO compensation remains obscene, and things remain the same.

A society that allows financial institutions to become “too big to fail” runs the risk of becoming enslaved to those institutions. Instead of a democracy, our government becomes - in essence - an oligarchy. In such a system, the elected officials become beholden to the big money interests because they rely on them for campaign finance and resources. In attempting to address the financial issues and concerns of the public, the elected officials appoint experts from the banking and financial world to make recommendations regarding their own existence. This is tantamount to putting the fox in charge of the hen house.

What needs to occur is a two-phase approach to the banking dilemma faced by this country. The first phase needs to involve strict oversight and regulations that create an environment in which banks and mega-corporations are required to downsize according to established size limits. These size limits must be based on establishing a level playing field that serves the best interest of the people. The second phase involves the creation of a Consumer Protection Regulatory Agency with far-ranging authority of enforcement impacting banks and mega-corporations in bringing about and maintaining a competitive marketplace.

While the focus must always be on the idea of a free marketplace, we must recognize the fact that the current instability of the system is the result of deregulation. History supports the belief that megabanks and mega-corporations result in corruption, abuse, and excessive profiteering at the expense of the people. The purpose of regulation must be to level the playing field to foster competition, establish consumer fairness, and eliminate greed and fraud.

Megabanks are just the beginning. Our government must take steps to break up mega-corporations and establish national consortiums that allow small businesses to purchase goods at the same price as larger competitors. These actions on the part of the government will cause a resurgence of small business ventures in small communities across this country. This resurgence of small business ventures will lead to jobs and a reemergence our smaller communities. This approach will effectively strengthen the economy from the bottom-up.

It is the people of this great nation - not the social elites - that must be the force in our government! It is naïve and foolish to believe that social and economic elites will look after the best interest of hard working men, women, and their families. We must insist that our government of, for, and by the people act in the best interest of the people. We can do this by remembering that nothing can prevail against the resistance of public opinion.

~Bill

Tuesday, December 29, 2009

Video: My Announcement Speech

I had a great time during my recent announcement tour. I had the pleasure of meeting many energized, dedicated people throughout my 13-stop tour of the 4th District. A video of my speech from our stop in Ames on December 18th has just been uploaded to YouTube.com.

You can view the video in two parts:
-- To see Part 1, visit http://www.youtube.com/watch?v=vFwBAoz5Kcc
-- To see Part 2, visit http://www.youtube.com/watch?v=R7BSIeJCijc

~Bill

Sunday, December 20, 2009

The Greatest Gifts

In a world where the winner is too often defined as the person with the most toys, it is refreshing to enter the season where others are supposed to be more important than ourselves, and the dawning of a new year brings hope for tomorrow. This is the most wonderful time of the year. It is the season for giving!

As I consider the spirit and magic of this time of year, my thoughts always turn to the children. In the innocence of children, we find the beauty and promise that the world can be a better place for us all. Through our own children, and the children of our community, we can instill the qualities that make for healthy, happy, and prosperous lives. It is the gifts we give our children that make the difference in the lives they lead.

As we consider this season of giving, we need to ask, “What gifts can make a difference for our children?” The gifts that mean the most to our children are available to us all. They are gifts that too often get overlooked because we become consumed by a world of pressures, demands, and timelines. Too often it is easy to lose sight of what really matters in life.

From the moment a young life comes into the world we need to surround it with the gifts of unconditional love, patience, understanding, confirmation, guidance, and our time. These are gifts we can all offer our children everyday of the year. These are gifts whose value increases as a child grows older, and they are gifts that instill a strong sense of identity, purpose, and ability in our children. These are gifts that can transform the way people feel about themselves, relate to each other, and choose to deal with the world around them.

The most valuable gift we can give our children is the knowledge and understanding that the greatest characteristics of being human are the ability of redemption and reconciliation. Too often children feel that poor judgment or failure on their part is a reflection of their inability and lack of worth. When this occurs, and if our children do not understand the power of redemption and reconciliation, they may feel inept and incapable of success and happiness. This should never be the case. As human beings, time allows us the opportunity to redeem and reconcile the state of our lives. A knowledge and understanding of these two powerful characteristics is the gift of perpetual hope.

As you prepare for this holiday season, keep in mind the greatest gifts you can give your children now and throughout the year. We only pass this way once, and our true legacy is found in the gifts we give.

From me and my family, BEST WISHES for a BLESSED HOLIDAY SEASON and a HAPPY NEW YEAR!

Best regards,

~Bill

Sunday, December 13, 2009

My Announcement Tour Schedule

Beginning this coming Wednesday, December 16, I will be touring the 4th District to make a formal announcement of my candidacy. My announcement tour involves thirteen stops throughout the district in a span of three days; the tour schedule is as follows:

Wednesday, December 16
-- 8:00 a.m., Waukee - Waukee Public Library (950 Warrior Lane)
-- 10:30 a.m., Fort Dodge - Democratic Party Headquarters (29 N. 12th St.)
-- 1:00 p.m., Estherville - Mother Nature's (1027 East Central Ave.)
-- 4:00 p.m., Algona - The Pizza Ranch (1325 Hwy 169 N.)

Thursday, December 17
-- 9:00 a.m., Mason City - Borealis (316 N Federal Ave.)
-- 12:00 noon, Decorah - Magpie Coffee Shop (118 Winnebago St.)
-- 1:30 p.m., Waukon - Gus and Tony's Pizza and Steakhouse (508 W Main St.)
-- 3:15 p.m., Postville - Postville Response Coalition (105 South Lawler)
-- 5:30 p.m., Charles City - Charles City Press Office (801 Riverside Dr.)

Friday, December 18
-- 10:00 a.m., Ames - Youth and Shelter Services Inc. (420 Kellogg Ave.)
-- 1:30 p.m., Indianola - Supervisors Board Room at the Administration Bldg. (301 N. Buxton)
-- 3:00 p.m., Winterset - North Side Cafe (61 Jefferson Street)
-- 6:00 p.m., Marshalltown - The Home of Bert & Carole Permar (106 College View Ln.)

I hope to see you somewhere along the way!

~ Bill

Friday, December 4, 2009

Positions and Viewpoints

THE UNITED STATES AND ASIA:
President Obama’s recent trip to Asia is an important step in maintaining and developing a positive and beneficial relationship with this part of the world.

China’s population of 1.3 billion people is four times greater than the population of the United States. This means China should be a fertile market for our products.

China holds $800 billion of the United States' debt. We need to find a remedy to this situation. The United States and China share a number of mutual interests, and a rebalancing of trade must be one of them. As the leading power in the world, the United States must act now to leverage influence that will reduce our debt, increase our trade, and strengthen our relationship.

While China has become intensely capitalistic and competitive, it remains a communist and autocratic system. The Chinese people continue to suffer human rights violations at the hands of the government. The Chinese Government must know and understand that the United States will not do business as normal with a government that ignores the basic human rights of people.

UNEMPLOYMENT:
There are currently 15 million people jobless in the United States. It is unacceptable for our government to sit back and wait for the economy to correct itself. The government must act now to create a New Deal of programs that will put millions of people back to work rebuilding our infrastructure as well as repairing and improving our national monuments and national parks.

There is more than enough work to do, let us put the jobless to work doing it. We will not only stimulate our economy from the bottom up, but we will restore vitality to our infrastructure and national treasures.

HEALTH CARE:
With 43 million people in the United States without health care, this issue must be successfully resolved. We need universal health care for everyone. The plan should not be that difficult. If you have health care now, and you like your provider and service, then you should be allowed to keep your plan. If you do not have health care, then we need to create a National Health Insurance Exchange which includes a public option. A National Health Insurance Exchange along with a public option will increase competition, offer more choice, and drive health care costs down. People who can not afford health care or full coverage need help. It is part of our obligation to each other as one nation to see that all citizens of our great country have access to quality health care. Our goal must be universal health care based on a wellness program that will improve the quality of life for all our people.

AFGHANISTAN:
Recently, President Obama committed 30,000 more troops to Afghanistan. I admire the President, but this is a bad idea. If President Kennedy were alive today, he would surely have advised the President to avoid being overly influenced by his military leaders. General McChrystal has wanted more troops for some time now. McChrystal has also said that the United States could be in Afghanistan until 2013 or longer. This is all unacceptable! We can and must protect our homeland without these military ventures that are so costly in the lives of our precious young soldiers, national treasures, and image as a global leader.

AGRICULTURE:
Our agrarian culture is the bedrock of our society. Yet today, modern equipment and technology have made farming a thing of the past unless you were fortunate enough to inherit the farm or you have become an employee of a corporate farm. We need an agricultural policy that supports and sustains our family farmers. We also need an agricultural policy that provides opportunity for young men and women to return to the farm.

We must halt the rise of corporate farms. We have seen all too clearly the destructive force of an unbridled corporate America. Our small towns and small businesses have all but vanished due to the impact of large corporations and big business. If we do not act now, farming will only occur as a feudal enterprise. This all has huge ramifications for our land, environment, and agrarian way of life.

We need an agricultural policy that provides a support system for new and emerging farmers. This support system must provide low interest loans for the purchase of land. This support system must provide a program for the cooping of equipment to work the land. This support system must encourage the establishment of small livestock herds. We must create a marketing safety net for a return on investment to assure food production and the success of new and emerging farmers. This is an investment in our small towns and rural way of life. An increase in young farmers will revitalize our small towns and small businesses so important to sustaining rural values and the agrarian way of life. We can and must do better!

~ Bill

Monday, November 23, 2009

Jefferson-Jackson Dinner Recap

On November 21, I began my morning with a trip to Hy-Vee Hall in Des Moines, the site of the Iowa Democratic Party’s Jefferson-Jackson Dinner. The purpose of the trip included setting up an information table in the lobby area leading to the dining hall as well as placing a two-sided flyer on each chair inside the huge dining hall. As the morning progressed toward noon, a number of candidates and workers added flyers so that each chair contained information representing a talented slate of Democratic candidates.

That morning, Hy-Vee Hall buzzed with preparation as the final details received consideration and deliberation. The centrally-located stage required attention to every detail as the guest speakers - including the Vice President of the United States - would be addressing hundreds of Iowa Democrats. The banners of many candidates were being displayed along a full wall of the dining hall. The testing of a large screen projection system displayed slides from the Iowa Democratic Party and its candidates.

Out in the entrance area, we hung one of my campaign banners on the wall behind our table. On the table we arranged literature representative of me as a candidate. All around us, other candidates were busy attending to the same task. As we departed just before noon, all the arrangements for a successful event seemed to be in place.

My advance group of Jeremy, Tiffany, and Steve arrived at 4:00 p.m. to make sure everything was in place and ready to go. Carole and I arrived at approximately 4:45 p.m. From the time of our arrival, I enjoyed the pleasure of meeting and greeting many wonderful Democrats from across the state of Iowa. Tiffany volunteered to get “Maske for Congress” stickers on everyone as they arrived. Jeremy and Steve stayed near the table to distribute literature, answer questions, and recruit volunteers for the campaign ahead.

One of my great pleasures was meeting former Congressman Berkley Bedell. I always admired Congressman Bedell for his honorable service in the United States Congress. I had met him once before many years ago. It was truly good to see him again.

At 5:30 p.m., Carole and I joined others in the Jackson Reception. I moved from group to group enjoying the conversation and appreciating the passion of Democrats for good government. Democrats want to see government work to improve the quality of life for all people, not just those of privilege. If Democrats will convert their passion into action, we will win the 4 th District in November 2010.

At 7:00 p.m., Jeremy, Tiffany, Steve, Carole, and I entered the dining hall for the main event. After reciting the Pledge of Allegiance, the Bridges 2 Harmony Choir from Roosevelt High School offered a stirring performance of the National Anthem. Rev. Cheryl R. Thomas’ invocation declared the strength of our faith and called upon God to bless America.

We heard great speeches by Congressman Braley, who called on us to stand strong against those who peddle fear in our country today; Congressman Boswell, who reminded us of the progress we have made in ten short months; Lt. Governor Judge, who is proud to serve Iowans alongside Governor Culver; Governor Culver, as he shared the progress we have made in Iowa and assured us that our best days still lie ahead; and Senator Harkin, appearing via satellite to proclaim a great senate vote on health care.

The highlight of the evening came with a rousing speech by Vice President Joe Biden. In his speech, the Vice President recited a litany of accomplishments that have occurred in the first ten months of the Obama Presidency. He advised all Democrats to stand tall and strong as we prepare for the 2010 election. He called on Democrats to be more active than ever to ensure and secure democratic leadership in the United States House of Representatives and United States Senate. The Vice President declared that this administration is not about incremental change, but about real and significant change. He warned that Republicans will do everything possible to obstruct the march of progress. We must not let this happen. The 21 st Century requires our vision of progress if we are truly going to secure the future for all people.

At the conclusion of the dinner, many moved into the adjoining room for the Victory 2010 After-Party, which featured the U.S. Senate candidates. I look forward to campaigning with all our fine Senate candidates over the course of the next year.

As the evening came to a close, I reflected on what it means to be a candidate. It means that I am asking you for an opportunity to serve. It means that I want the opportunity to be devoted to making this government of, for, and by the people - a true reflection of the sacred principles found in the Preamble to the Declaration of Independence and the Constitution of the United States. This democracy is a grand endeavor in securing liberty and justice for all. We can and must do better!

~ Bill

Friday, November 20, 2009

A Blessed Time of Year

My smile nearly split my lips this morning as I encountered a preschool student wearing his Pilgrim Hat in preparation for the annual Thanksgiving Feast. All the preschool children decked out as pilgrims, Native Americans, and turkeys speaks volumes about the role education plays in sustaining our cherished national holidays. Through these school celebrations, our young children learn important lessons about our history, culture, and national character.

The event of the original Thanksgiving dates back to the early sixteen hundreds when some of the first immigrants to the new world offered thanks for the blessings they had received despite many hardships. The fact that they shared their feast with others of a different culture serves as a wonderful example of how people of diverse backgrounds should reach out to each other in friendship.

Thanksgiving was again declared by the Continental Congress during the Revolutionary War. This declaration of thanksgiving served as a testament to the blessings of a free people and the promise of an emerging nation. A nation founded on the truth that all men are created equal.

President Abraham Lincoln found it necessary to call for a national day of thanksgiving during the Civil War at a time when the war was turning in favor of the Union Army. Lincoln was a magnanimous leader who understood the power of humility and grace.

Throughout our history there have been many times when our country could give thanks for the blessings bestowed upon this great nation. Over the years, the United States has become a marvelous tapestry of people from all corners of the earth. We have proven that in diversity there is indeed strength. We demonstrate to the world each and every day that people of diversity can live as one in a land of opportunity.
We are the bastion of freedom and liberty. We are the United States.

This Thanksgiving, may you, your family, and friends gather together to remember and give thanks for the rich and precious heritage that makes up the United States. Give thanks that we are a country always striving to live up to the promise of a better life for all. This is a blessed time of year. Happy Thanksgiving!

~ Bill

Tuesday, November 17, 2009

Remembering...

I remember with vivid clarity the early afternoon on November 22, 1963 as Mrs. Brown silently slipped into our eighth grade English classroom with large tear drops rolling down her cheeks as she turned on the intercom so we could hear the radio broadcast. Overwhelmed with emotion, she could say nothing. The unspeakable began to unfold before our very ears. With no televisions in school, the radio offered us the closest link to history as the intercom crackled with bewildering and confusing news. Something awful had happened in Dallas. Someone in the presidential motorcade had been shot, but who?

We all sat there in disbelief. Assassination was something we read about in our history books far removed from our own lives. The confusion of the radio report told us that in our nation of freedom and liberty something horrific was unfolding in Dallas. The radio announcer, obviously stunned beyond belief only added to our own anxiety. Who had been shot, and were they dead.

It is all part of this surreal Friday. I recall walking alone down Ash Street from the Peterson School just two blocks from my home. At thirteen years of age, there were a host of things running through my mind. Everything from the early dismissal of school to the cancellation of the night’s basketball games to the event in far away Dallas spun uncontrollably through my head.

Upon arriving home, I remember going to the living room and sitting in front of the black and white television. I remember watching and listening. I do not remember ever leaving the images or sounds of the television over the course of the next few days. Not until the muffled drums marching down Pennsylvania Avenue were silent, and the President laid to rest under the eternal flame at Arlington did I turn away. And as I turned away, even at thirteen, I knew things would never be the same.

The only thing that saddens me more than the assassination of John F. Kennedy is the manner in which so many people have tried to discredit his name over the past forty-six years since he sacrificed his life for this nation. John F. Kennedy believed in the United States of America. He had a vision for a great nation and a world at peace. He believed that the strength of our nation was found in the tapestry of differences that bound us together in a common fabric of liberty and justice. John F. Kennedy believed that this nation represented the great hope of the world. He knew this nation must be the beacon to light the way for a better world.

Forty-six years ago, we lost a young leader with vision and courage. In nineteen-eighty, Edward Kennedy reminded us why we must remember when he said, “the cause endures, the hope still lives, and the dream shall never die.” As for me, I shall always remember!

~ Bill