100+ CEOs promise no campaign donations

This was interesting to me, to see someone besides Buffet (even if he DID get rich on insurance, which is a total scam), refusing the play the system.

100+ CEOs promise no campaign donations

NEW YORK (CNNMoney) -- You know who's really mad at Washington? Corporate America.

Led by Howard Schultz of Starbucks more than 100 CEOs have signed a pledge to halt all political campaign contributions until lawmakers, as Schultz puts it, "stop the partisan gridlock in Washington, D.C."

Last week, he mounted a one-man bull rush against a political culture that has "chosen to put partisan and ideological purity over the well being of the people."

Schultz said he was going to stop writing checks, and he asked other CEOs to join him.

They have.

money.cnn.com...
This made me feel more hopeful, too:

The goal is to hit lawmakers right where it hurts: the pocketbook.

"All it seems people are interested in is re-election," Schultz told CNNMoney last week. "And that re-election -- the lifeblood of it is fundraising."

Schultz's own political donations, as chronicled by the nonpartisan Center for Responsive Politics, skew heavily Democratic. Out of a total $183,650 in donations, only $1,000 went to Republican candidates.

And yet, right up there in the headlines was also:

Bank of America stock surges nearly 11%

money.cnn.com...

Months after the one-time doomsayer on bank stocks sparked a mass exodus from the municipal bond market, Meredith Whitney told Bloomberg Radio Wednesday that there's no urgency for Bank of America to raise capital.Her pronouncement sent shares of the battered bank soaring nearly 11% Wednesday. The gains spilled over to other banking stocks, with shares of Goldman Sachs, JPMorgan Chase, and Citigroup rising between 1.7% to 2.8%.

By midmorning, shares of Bank of America eased off earlier highs, trading up 8.49% to $6.82, marking the stock's first day in positive territory in weeks. ....
Bank of America CEO Brian Moynihan and representatives for the company continue to tell the market that the bank has a comfortable cash cushion, yet the stock has persistently sold off on rumors to the contrary.

Um, but, wait. Isn't BofA embroiled in all sorts of scandalous backlash, with lawsuits for fraud and misleading investors? Yes, they are.

Wasn't there just an inquiry into the Federal Reserve lending to these banks so they would be middlemen and buy shares for the very same Fed? Yes, there was.

Talk about the press being a tool!

Here I was thinking that the banks were going to get what's been coming to them (collapse due to corruption and greed), but.....Nooooooo.

sigh.
I wish that every stockholder would pull out of EVERY STOCK. Make the cursed thing crash. Then go to your bank and pull out all of your money. Game over, dude.
Begin new game.
Am I the only one who feels that way?

Kudos to Starbucks and the few non-banking CEOs who joined him. But ...um, good luck with that. Unless you got a guy in Congress, it's prolly not gonna make a diff. (In formal English: Probably not going to make a difference).
The Republicans have the entire country by the tender glands.

And now we have THIS information!
www.abovetopsecret.com...

JPMorgan Chase (the anti-christ and his minions) are going to buy out BofA, and those new "shares" will be destroyed.....say WHAT??

Gawd I'm glad I'm not a stock trader.

ETA: Run away! Run away! Keep running!

reply to post by wildtimes


Don't want to sound too tinfoil hat but wasn't BOA in a tail spin for some time? Then the Wikileak documents got destroyed? I am not claiming causality only the appearance of coincidence.

As far as CEO's cutting of allowances, I would love to see it be true and substantial but I have my doubts. Call me cynical.

reply to post by wildtimes


Yes, I hear they won't be making political donations to politicians. However, I am certain they still employ their lobbyist, and they will certainly continue maintaining non-profit organizations to run commercials, and certainly they would never stop the worker-donation contributions.

Sounds to me like a simple ploy to let the peasants see that even corporate America has been wronged, and thus calm the class war. It fails imo. The peasants simply don't care, and don't trust CEO's and politicians.

what nonsense, they will just form trusts or corporations to pay off the lackey's or just do it in the wife's name

I thank all of you for your guidance here. I was almost ready to believe it was genuinely good news! Not only you folks, but my husband as well, pointed out the obvious truth to gullible me:

They will do it in a backdoor or lobbyist or advertising or other roundabout method. Just like all "business" is done...
at first, I thought, well, maybe the CEOs of these companies will stop supporting the politicians, but then it seemed quite clear that the BANKERS would have even MORE power.
If ALL the political contributions came from the banks....
I say stop the palm-greasing altogether. No more buying votes. No more buying laws. NO MORE. Everyone GO HOME to the country of which you are a citizen. Screw "free trade". They made us think that term meant an openness to export and import between cultures and countries. What it REALLY means is "FREE" to be in business and exploit others and care nothing for their quality of life or wellbeing. FREE TRADE my shiny backside.

It's as if a bunch of kindergarten bullies were handed keys to every lock and boxes of matches, and they run around the school setting fires while lessons are in session, leaving the pupils to burn alive, and all the tools of education along with them, and just close the door behind them when the heat and smoke get too heavy.

It's disgusting.

A One World Company, you say?
Well, if that's the way it has to be for TPTB to shut the hell up and be satisfied, I guess that's what we're gonna get. But at LEAST everyone should pay an equal percentage of taxes. 10% straight across. On every household, every jurisdiction, every person, every business, every bank, every politician, every monarch, every peasant knee-deep in a rice paddy, every Jamie Dimon, EVERYONE.
Don't have any money, but you raise rabbits? Okay, 10% of your rabbits. Farmer? 10% of your crop. Mason? You can fix such and such's wall...Seamstress? Fork over some needles and thread. And no, you may not have permission to go to the next country and set up shop. You will stay right here, it's your birthright and your responsibility to see to the wellbeing of this community.

When you have your own community in perfect order, and a surplus of the things needed for survival, you have the right to assist others in achieving that, but FROM HOME.