Jesse To March On Wall St

The subprime mortgage disaster has been picking up speed in the press...as well as it is beginning to hurt the large banks. Thanks to people like Jesse Jackson, the crisis will also remind us that the worst effects are on the people who have had to foreclose on their homes, and those that might have to in the future. Jesse plans to march on Wall Street and bring the spotlight to the industry that has helped bring about this crisis.

From The Daily Politics:

The Rev. Jesse Jackson came to City Hall today to tout his Dec. 10 march/rally on Wall Street in hopes of pressuring big lenders to focus on, as he puts it, “restructuring, not repossession,” in hopes of staving off massive foreclosure crisis he believes could send the national into another Great Depression.

Jackson also announced support of Council resolution 1112 which “denounces” foreclosures precipitated by subprime and predatory lending and in support of federal and state legislation that regulates lenders and assists borrowers.

Denouncing the practice of foreclosing is not enough. We need real change and real regulation to prevent Wall Street from doing so much damage to middle class homeowners here in New York and across the country. With the $38 billion in Christmas bonuses that the industry is receiving this year, it is time to give those billions back and reimburse the all of their victims...at least those that have been foreclosed on.

If you have time on December 10th, put those marching boots on and stand against the corporate banking giants.

Fox News Hates Black People, So Whats Up With The CBC?

Sorry Kanye, I had to borrow your line and ascribe it to Fox News. Like a good propraganda outlet for the right-wing, Fox is very good at attacking minorities and any other group that would threaten the wingnut power-base. If you don't believe it, just watch this video from FoxAttacks:



Now that you know the bias of Rupert Murdoch's cable news network, why on earth would the Congressional Black Caucus host a debate with Fox televising the event? Apparently some members of the CBC do not agree with the decision, but none have the courage to stand up to the Caucus.

I'll let Jesse Jackson take over from here:

Rev. Jesse Jackson today denounced the Congressional Black Caucus Institute’s planned presidential debate partnership with FOX. He called for yesterday’s decision to be reversed and for presidential candidates not to attend a FOX debate.

Jackson said, “I am disappointed by the Congressional Black Caucus Institute's partnership with FOX, and strongly encourage them to reverse that decision. Why would presidential candidates, or an organization that is supposed to advocate for Black Americans, ever give a stamp of legitimacy to a network that continually marginalizes Black leaders and the Black community? FOX moderating a presidential debate on issues of importance to Black Americans is literally letting the Fox guard the henhouse – FOX should be rejected.”

Fox’s smears against the Black community are compiled in Outfoxed director Robert Greenwald’s new YouTube video called Fox Attacks: Black America – which is located at www.ColorOfChange.org and has been viewed by over 230,000 people in two weeks.

Yesterday’s decision came after Black Members of Congress and the CBC Institute were contacted by thousands of members of ColorOfChange.org – a 75,000 member online citizen lobby for Black Americans. Privately, some CBC members expressed that the Fox deal was a bad idea, but not a single member would take a public stand like Jackson did today.

"The CBC cannot claim to represent Black Americans and at the same time legitimize a network that calls Black churches a cult, implies that Senator Barack Obama is a terrorist, and uses the solemn occasion of Coretta Scott King’s funeral to call Black leaders ‘racist,’” said James Rucker, head of ColorOfChange.org. “The CBC Institute’s decision is shamefully out of step with most Black voters -- and now Black voters will hold our leaders accountable and demand they end their partnership with Fox."

Today, an online petition is being launched at www.ColorofChange.org demanding the CBC end their partnership with Fox, and asking presidential candidates to reject the Fox debate in favor of CBC Institute’s CNN debate – which has already been announced.

Thousands of new members have joined ColorOfChange.org in recent weeks as the organization started putting pressure on the CBC not to embrace Fox – showing the high energy of this issue.

“Fox has a long history of treating Black people unfairly. They are not a trusted news source for most Black Americans,” added Benjamin Todd Jealous, former executive director of the National Newspaper Publishers Associations (NNPA), a 98-year old federation of more than 200 Black community newspapers.