U.S. Senate Candidate Backed by Hedge Fund Billionaires Was Sitting in Front Row at Trump Rally as the Sniper Fired into the Bleachers

By Pam Martens and Russ Martens: July 15, 2024 ~ Dave McCormick, the Republican candidate for the U.S. Senate from Pennsylvania, was sitting in the front row at Donald Trump’s rally in Butler, Pennsylvania on Saturday and narrowly missed being in the line of fire according to an interview he gave to CNN’s Jake Tapper on Sunday morning. McCormick told Tapper that Trump had called out from the podium, asking McCormick to join him on the stage and he “started to walk up onto the stage” when Trump said: “No, no, I will have you up in a little bit. And then the shooting started a minute or two later. And so, had he not changed his mind, I think I would have been up on that stage.” According to the PBS video of Trump’s opening remarks at the rally, which also capture the gunfire, Trump called McCormick a “great, great … Continue reading →

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Project 2025: The Fossil Fuel and Banking Money Behind the Madness

By Pam Martens and Russ Martens: July 11, 2024 ~ Last week, Wall Street On Parade published an article with this title: The Supreme Court Crowns a King, Immunizing Future Criminal Acts Under Project 2025 – a Right Wing Manifesto. We began the article with this: “In the span of two business days, six of the nine justices on the U.S. Supreme Court have radically altered American democracy. On Friday, those six right-wing justices gutted the ability of federal government agencies to protect the waters Americans drink, the air they breathe, their ability to impose food and drug safety rules and worker protections. On Monday, the same six effectively crowned the President of the United States a king by immunizing the President from criminal prosecution for any conduct that can be construed as official acts.” This unprecedented action by six of the right-wing Supreme Court Justices appears to be laying the … Continue reading →

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The Fund Created to Unwind a Failing Megabank Has a Problem: There’s No Money in It

By Pam Martens and Russ Martens: July 9, 2024 ~ Last week the American Banker published an opinion article by Arthur E. Wilmarth, Jr., the Professor Emeritus of Law at George Washington University. Wilmarth is the man who wrote the seminal book on the continuing threat to financial stability posed by U.S. megabanks – the same ones that blew up Wall Street and the U.S. economy in 2008. The title of Wilmarth’s article (paywall) is: “The FDIC’s resolution plan for failed megabanks is an empty promise.” The thrust of the article is this: the Dodd-Frank Act was passed by Congress and signed into law in 2010 – 14 years ago. One of its primary goals was to prevent taxpayers from having to rescue megabanks, as occurred in 2008. A key component of that goal is Title II of Dodd-Frank, which provides an Orderly Resolution Plan to unwind failing megabanks that does … Continue reading →

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