Fix the Debt financier Peter G. Peterson knows a thing or two about debt: he's an expert at creating it. Peterson founded the private equity firm Blackstone Group in 1985 with Stephen Schwarzman (who compared raising taxes to "when Hitler invaded Poland"). Private equity firms don't contribute much to the economy; they don't make cars or milk the cows. Too frequently, they buy firms to loot them. After a leveraged buyout, they can leave companies so loaded up with debt they are forced to immediately slash their workforce or employees' retirement security.
News Articles By Lisa Graves
Washington— On Wednesday, February 13, 2013, the Economic Policy Institute will host a media conference call on the economic policy agenda promoted by the American Legislative Exchange Council (ALEC)—an agenda that would weaken state economies, harm working families and put the interests of corporations and the most affluent households before the common good.
A majority of Visa shareholders rejected an effort to require the company to provide more disclosure about its role in the American Legislative Exchange Council (ALEC) and related lobbying activities. Boston Common Asset Management, an investment firm focused on socially responsible investing, and the Unitarian Universalist Association of Congregations (UUA), a religious organization that affirms the inherent capacity for good in human beings, filed a resolution to require the company to disclose all payments used for lobbying purposes, including payments to groups like ALEC. In all, over 100 million votes were cast in favor of the resolution -- 37% -- but that substantial outpouring of support for greater transparency accounted for less than a majority of the votes cast by Visa shareholders.
The largest Democratic Party organization in the nation has called on Congress to support a 25% cut in Pentagon spending. The California Democratic Party -- which includes more than 2,000 representatives of the state's more than seven million Democrats -- adopted this policy in the past year in the face of threats by Republicans in Congress to refuse to allow the U.S. to increase its credit limit.
Last year, Americans witnessed an explosion in million-dollar checks from a handful of uber-wealthy people underwriting political campaigns and election ads. In 2012, there were also numerous efforts to make it harder for Americans to exercise their fundamental right to vote through restrictive voter ID legislation and limits on voter registration.
You helped make the world a better place this year. You helped expose corruption and thwart efforts to distort our democracy.
1. You helped force 42 major corporations and 70 legislators to do something they did not want to do, leave the American Legislative Exchange Council.
What is Energy In Depth, really? EID describes itself as "a research, education and public outreach campaign focused on getting the facts out" about hydraulic fracturing, widely known as "fracking." It's a website created by a trade group for the gas industry -- the "Independent Petroleum Association of America" (IPAA) -- and a public relations firm.
"We've endured too many of these tragedies in the past few years," President Obama said in response to horrifying shooting massacre of 20 little children and six of their educators in Connecticut.
As concerned workers come together across Michigan in protest, partisan politicians are poised to make one of the strongholds for America's blue-collar worker rights into a so-called "Right to Work" (RTW) state -- in accordance with the ALEC blueprint to change to state laws at the behest of some of the biggest corporations in the world.
This week in Washington, DC, Jeb Bush's "Foundation for Excellence in Education" (FEE) is meeting just five blocks away from the post-election conference of the American Legislative Exchange Council (ALEC), the controversial corporate bill mill working on profitizing public education among other legislative changes, but the ties between the two groups are even closer.