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Forum Post: It is time for OWS to get involved and challenge senator Schumer in the primary.

Posted 1 year ago on May 16, 2013, 10:11 a.m. EST by factsrfun (5952) from Phoenix, AZ
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From wiki:

Financial industry regulation

Then-congressman Schumer in 1987, in opposition to the repeal of the Glass–Steagall Act of 1933, wrote in a New York Times op-ed: Don't Let Banks Become Casinos, wrote “Citing the pressures of rigorous worldwide competition in financial services, large American banks are pleading for the repeal of the Glass–Steagall Act, a law that keeps banks out of the more volatile and risky world of securities transactions. Their entreaties should be resisted..."

Senator Schumer in 1999, in support of Congress’s repeal of the Glass–Steagall Act of 1933, commented: "There are many reasons for this bill, but first and foremost is to ensure that U.S. financial firms remain competitive." The Securities and Investment industry is the largest donor to Schumer’s senatorial campaigns.

On December 14, 2008, the New York Times published an article on Schumer's role in the Wall Street meltdown. The article stated that Schumer embraced the industry’s free-market, deregulatory agenda more than any other Democrat in Congress, even backing measures now blamed for contributing to the financial crisis. Schumer took steps to protect industry players from government oversight and tougher rules, a review of his record shows. Over the years, he has also helped save financial institutions billions of dollars in higher taxes or fees. He succeeded in limiting efforts to regulate credit-rating agencies. This article also charged that Schumer blocked ratings agencies reforms proposed by the Bush Administration and the Cox SEC.

In his book released in March 2010, "No One Would Listen," Madoff whistleblower Harry Markopolos passes along an unsourced claim that Schumer called the SEC for information about the Madoff investigation.

Taxes on high incomes

Schumer had been a staunch defender of low taxes on hedge fund and private equity managers in the past, arguing that this was necessary to protect the industry. Serving on both the Senate Banking and Finance Committees, Schumer was in a position to block attempts to tax their financial gains at the rate other taxpayers pay for income. In 2010, however, Schumer suggested that a hedge-fund tax would be acceptable and not hurt the industry.

In February 2012, Schumer said that he disagreed with the Obama administration's call to raise taxes on those making more than $250 000 a year, calling for a million-dollar level instead. According to Schumer, "there are a lot of people who make above 250 who aren't rich."

Update: According to this story from The New Yorker the producers of Park Avenue: money, power and the American dream - Why Poverty? have been getting more heat from Schumer than from David Koch.

http://www.newyorker.com/reporting/2013/05/27/130527fa_fact_mayer?currentPage=all

25 Comments

25 Comments


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[-] 3 points by bensdad (8977) 1 year ago

There are many dimensions to this excellent idea

Beyond the obvious move to find a full fledged 99% supporter who would be willing to fight against a very well funded & supported sitting senator-
Anthony Weiner? Michael Bloomberg? who?


the TP succeeded because the koch sugar daddies funded anyone who supported their agenda - who do we have ?


the threat of well funded TP candidates has been very powerful in pushing less crazy Rs politicians over the edge


a well planned & executed campaign from the left to push Schumer to the 99% side may be just as important as actually running a candidate


Bringing in key NY groups such as unions into a campaign
"Chuck- we will support you only if you support us" along with publicizing the votes that you list above to educate
Democrats & liberal & progressives about his record is key

[-] 1 points by factsrfun (5952) from Phoenix, AZ 1 year ago

Please be sure to view:

http://occupywallst.org/forum/park-avenue-money-power-and-the-american-dream-why/

This goes into detail and inspired this post.

[-] 0 points by Timex (-3) 1 year ago

"a well planned & executed campaign from the left to push Schumer to the 99% side may be just as important as actually running a candidate"

Nah. That sounds like a cop out. Vote the SOB out and let his fate serve as an example to the people elected after him. Make an example of him. Dems need to learn that they shouldn't expect anyone to go easy on them just because they are Dems.

[-] 4 points by bensdad (8977) 1 year ago

So many posts here are negative
Which ELECTABLE candidate do YOU support ?
It is better to light a candle than curse the darkness.

[-] -1 points by Timex (-3) 1 year ago

Ha! What happened to all the dimensions of such an excellant idea? As soon as someone says don't vote Dem, you get upset and whine about negativity. You're a one trick pony.

Which electable candidate? Let's see.... 20 million people in the state of NY. 99% of that is....something large I'll bet. I'm sure we can find someone better out of that lot, be it Dem, maverick Rep, Klingon, whatever..

Just man up and be prepared for the possibility of not voting D. Consider it the first step in a well planned & executed campaign to take back the country.

[-] 4 points by bensdad (8977) 1 year ago

Which electable person do you support?
I know you dont support me - why bother attacking me?

[-] -3 points by Timex (-3) 1 year ago

With the support of the 99% anyone can be electable. We don't have to be locked into a D or an R anymore.

[-] 3 points by bensdad (8977) 1 year ago

hich electable person do you support? I support Schweitzer, Sanders, Grayson, Harkin, Warren
hich electable person do you support?

[-] -1 points by Timex (-3) 1 year ago

Oh, that's what you meant. Sorry, i just assummed you were pushing your we should only vote for Democrats line again. Those folks are good. Corey Booker's pretty cool too.

[-] 2 points by bensdad (8977) 1 year ago

I think Schweitzer is a real 99%er
He would be a great part nerfor Warren & Sanders

Its a shame that Kucinich did not move to Boehner's district and run against him.

[-] 1 points by factsrfun (5952) from Phoenix, AZ 1 year ago

vote him out in the primary, or do you support giving the seat to a fucking Republican?

Who Are You

Here I am

[Removed]

[-] 1 points by factsrfun (5952) from Phoenix, AZ 6 months ago

I suppose it's far too late for this....

[-] 1 points by factsrfun (5952) from Phoenix, AZ 1 year ago

If a New York based left wing group did something they had never done before, instead of wasting their time with some third party bull shit but actually step into the game and really supported a threat to Schumer that would send a message to elected dems across the nation that the "real" left as BW calls it won't be ignored anymore. I can see from the response here that there is little desire among posters to have the left have an impact on policy, it seems most here are just about ego.

[-] 1 points by gsw (2733) 1 year ago

Good proposal

[-] 1 points by factsrfun (5952) from Phoenix, AZ 1 year ago

This is how the Tea nuts influence policy when the number of people who actually agree with them is small especially when compared to the number who understand that feeding the greed of the super rich is destroying any hope our children have of achieving the American Dream.

[-] 1 points by gsw (2733) 1 year ago

Schumer the dem fights to keep marginal tax rates low for elites.

Reverse elitism.

Important video on this subject, " Park Avenue", features Schumer and his elite backers. http://occupywallst.org/forum/park-avenue-money-power-and-the-american-dream-why/#comment-971400

Ows in NYC should run someone against Schumer to expose this.

[-] 0 points by factsrfun (5952) from Phoenix, AZ 1 year ago

If you look at the post you will see it was edited, I brought this here for it's own discussion, after watching and posting that.

[-] 1 points by gsw (2733) 1 year ago

I think it's a valuable idea.

Who should run against him?

Someone who is financially ok, possibly retired.

Seriously, Maybe vq would be interested?

[-] 0 points by factsrfun (5952) from Phoenix, AZ 1 year ago

I'd like to see OWS recruit a qualified local candidate, I have little hope that it will happen but still doesn't hurt to point out stuff that would work, in case anybody still has some desire to do something.

[-] 0 points by wickerman (62) 6 months ago

A good idea, but was or is there any follow through. Any body know of any effort on this front?

[-] 0 points by factsrfun (5952) from Phoenix, AZ 1 year ago
[-] 0 points by factsrfun (5952) from Phoenix, AZ 1 year ago

Schmuer is getting credit for making deals on the Time blog today

http://swampland.time.com/2013/06/13/chuck-schumer-and-the-art-of-the-deal/

I wonder if his deal to keep rich hedge fund operators from paying as high a tax rate as the cab drivers in NYC do, after all everyone knows the damage those cab drivers have done....

[-] 0 points by factsrfun (5952) from Phoenix, AZ 1 year ago
[-] 0 points by factsrfun (5952) from Phoenix, AZ 1 year ago

According to this story from The New Yorker the producers of Park Avenue: money, power and the American dream - Why Poverty? have been getting more heat from Schumer than from David Koch.

http://www.newyorker.com/reporting/2013/05/27/130527fa_fact_mayer?currentPage=all

[-] 0 points by factsrfun (5952) from Phoenix, AZ 1 year ago

There is a TEA Party caucus in Congress, until OWS has a caucus it will be just a distraction at the mercy of the news cycle.