Politics Revealed — The Left’s Economic Terrorism Playbook: The Chase Campaign by a Coalition of Unions, Community Groups, Lawmakers and Students to Take Down US Capitalism and Redistribute Wealth & Power

FULL VERSION OF DISCUSSION

Transcript:

PRESENTATION

W: We’re going to hear from Steve Lerner next, of SEIU, the Architect of the Justice for Janitors campaign. Currently, he’s working on partnering with unions and groups in Europe and South America, it’s building campaigns to hold financial institutions accountable.

S. Lerner: It seems to me that we’re in a moment where we need to figure out in a much more, through direct action, much more concrete way how we really are trying to disrupt and create uncertainty for capital, for how corporations operate. And it may sound like that’s a crazy thing that in a moment of weakness we could deal with it, but the thing about a boom and bust economy, it is actually incredibly fragile, because it’s not based on real way, well, it’s based on gambling and all of that. And so there are actually extraordinary things that we could do right now that would start to de, destabilize the folks that are in power and start to rebuild a movement. And for example, 10% of homeowners, going back to where you started, who are under, a quarter of all people who own a home are under water. Right? Their home is under water, they’re paying more for it than it’s worth. Ten percent of those people are now in strategic default, meaning they’re refusing to pay but they’re staying in their homes. That’s totally spontaneous. Right? They figured out it takes a year to kick me out of my home because the mort, the foreclosure’s backed up. I’m going to say I won’t pay. It’s just what business does, it’s a good, a good business decision. If you could double that number, you would make banks, put banks on the edge of insolvency again.

And so the question would be, what would happen if we organized homeowners in mass to do a mortgage strike. Just say if we get, and, and, if we get half a million people to agree, we’ll all not, we’ll agree we won’t pay our mortgages, it would literally cause a new financial crisis.

There are four things we can do that could really upset Wall Street. One is if city and state and other government entities demanded to renegotiate their debt because they’re paying too much interest. And you might say, well why would the banks ever do it? Because they, the cities and counties could say we won’t do this and this in the future with you if you don’t renegotiate the debt now. Meaning, about a third of bank profits generate from dealing with cities and states. So we could leverage the power we have of government to say we won’t do business with you, JP Morgan Chase, anymore unless you do two things: you reduce the price of our interest, since your interest rate is down; and second, you rewrite the mortgages for everybody in the community so they can stay in their homes. We, we could make them do that.

The second thing is there’s a whole question in New York now about austerity and student’s rates and the question of the debt structure. What would happen if students said we’re not going to pay? It’s a trillion dollars. Think about your …sweeping that debt, a trillion dollars from students debt?

There’s a third thing that we could think about, what about if public employee unions, instead of them being on the defensive, put on the collective bargaining table when they negotiate they said we demand as a condition of negotiation that the government renegotiate, we want, we believe in good financial management. It’s crazy that you’re paying too much interest to your buddy the bankers. It’s a strike issue for us. We will strike unless you force the banks to relieve the debt of the city. I’m not going to go through all the detail except to say there’s extraordinary things we could do and if you add on top of that, if we really thought about moving to the kind of disruption in Madison, but moving that to Wall Street and moving that to other cities around the country where we basically said you stole $17 trillion, you’ve impoverished us and we’re going to make it impossible for, for you to operate.

Labor can’t lead it, but we can be a critical part of it. We do have money, we have millions of members who are furious, but I don’t think this kind of movement can happen unless actually the community groups and other activists take the lead. And that’s a big reversal of how a lot of these coalitions have even thought about it, so unions helping community groups, or communities who cover this narrowly. And if you’re se, if we really believe that we’re in a transformative stage and what’s happening in capitalism, and we need to confront this in a serious way and develop a real ability to put a boot in the wheel, then I think we have to think not about labor community alliances. We have to think about how together we’re building something that really has the capacity to disrupt how the system operates.

And so I just, I guess raise that we need a whole new way of thinking about things, which is not a partnership, but building something new. Because the bottom line is, as soon as the union gets sued, it’s going to be terrifying. When we get an injunction that says, you know, you, un, the union backs down. So we need to build a movement based on we know the oppression we’re going to face. And I think the only way we can do that is to think much more creatively, and the key thing I …is we have to say what does the other side fear most? They fear disruption, they fear uncertainty. Every article about Europe says a riot in Greece, the markets went down. The folks that control this country care about one thing: how the stock market does; how the bond market does; and what their bonus is. So I think we weed out a very simple strategy: how do we bring down the stock market, how do we bring down their bonuses, how do we interfere with their ability to, to be rich. And if we don’t do, and that means you have to politically isolate them, economically isolate them and disrupt them. So, it’s not all theory, I’ll do a pitch.

So, a bunch of us around the country are thinking about who would be a really good company to hate? We decided that would be JP Morgan Chase. …. And so we’re going to roll out over the next couple of months what will hopefully be an exciting campaign about JP Morgan Chase that is really about challenge the power of Wall Street. And so what we’re looking at is in the first week of May, we get enough people together – we’re starting now – to really have a week of action in New York with the goal of … I don’t want to go into any details because I don’t know which police agents are in the room, but the goal would be that we would roll out in New York the first week in May—

M: (Can’t hear speaker)

S. Lerner: Yes. …connect three ideas – that we’re not broke, there’s plenty of money; they have the money, we need to get it back; and that they’re using Bloomberg and other people in government as the vehicle to try to destroy us. And so that we need to take on those folks at the same time and that will start here. We’re going to look at a week of civil disobedience, direct action all over the city, then we’ll roll into the JP Morgan shareholder meeting, which they moved out of New York because they were afraid, I guess, of Columbus, where there’s going to be a ten state mobilization to try to shut down that meeting. And then looking at bank shareholder meetings around the country and try to create some moments like Madison, except where we’re on offense instead of defense. Where we have brave and heroic battles challenging the power of the giant corporations, and we hope to sort of inspire a much bigger movement about redistributing wealth and power in the country.

W: You were talking about why unions are so invested because of their pension plans and why ungovernability, as Frances Fox Piven and Cloward taught us, you know, poor peoples’ movements are successful when they create conditions of ungovernability. And then you win victories.

Transcription: TTE Transcripts Worldwide, Ltd.

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Comments (1058)

1 ... 3 4 5 6 7 ... 27
  • ebryan
    Posted on March 22, 2011 at 10:10am

    SEIU the most frequent visitor to the White House? Who’s there everyday? Who is the freakin Chief of Staff? Former bigshot at Goldman Sachs. Did Timothy Geitner come up through the community organizer ranks? You people are out of your minds. When it comes to the economy, all the people “pulling the strings” in the Obama White House are former Wall Street executives.

    Report Post »  
  • mcccmar
    Posted on March 22, 2011 at 10:09am

    sadly this is all true but it really wont be taken seriously – what a sad commentary on our country today

    Report Post »  
  • neverfinal
    Posted on March 22, 2011 at 10:09am

    Warn everyone, face book all over the Nation. Talk to family and friends. Don’t lat them go untold.
    We have spent years warning this coming, now it is on tape. Can’t be denied anymore.

    Report Post »  
  • mikem1969
    Posted on March 22, 2011 at 10:08am

    And once again the light shines on the dark evil deeds of the unions, the brainwashed students, libs and progressives. Arrest them all for treason, try them, and then carry out the sentence for those convicted of treason. Set an example that will scare any idiot from the left from ever trying to destroy this country again.

    Report Post »  
  • rdk
    Posted on March 22, 2011 at 10:07am

    There is no hope for these subversives. Round them up and place them in a mental institution before they harm themselves.

    Report Post »  
    • Chet Hempstead
      Posted on April 2, 2011 at 12:48am

      Stalin and Mao used to commit people to mental institutions for their political beliefs. As far as I know, it hasn’t been tried in this country yet.

      Report Post »  
  • NOBALONEY
    Posted on March 22, 2011 at 10:07am

    GM is the example. The bankruptcy was a windfall for the union, and a loss for the bondholders: which the U.S. supreme wouldn’t challenge. The subprime mess was our politicians, and unions putting pressure on banks to give mortgages to anyone, and everyone. The 0%,and 3% down put many under when the economy slowed, prices declined. After Tarp:which didn’t really purchase any toxic assests, but was our tax dollars helping the bottom line of banks, and wall street. The banks were still giving out 3% loans,those who took the 7500 dolar give away, they are now under.now, because the housing market continues its downward spiral. We are broke!! There”s plenty of money, but what’s it really worth.Lerner’s an idiot!

    Report Post » NOBALONEY  
  • NE1HOME
    Posted on March 22, 2011 at 10:06am

    John Edwards was right – at least in concept. There are now two Americas and sadly most of us have passively watched as this monster was created.

    We ran from blight to the suburbs and hoped that price would insulate us from things we didn’t wish to see or deal with. That flight made others envious and they followed. We moved again and in most cases bought more house than we needed and at a higher price than we could reasonably afford.

    Homebuilders built the houses we were buying because that was where the market was. They weren’t building a lot of small and affordable single family homes and people became envious.

    The problems we refused to face or deal with have jumped up and into power over us. It is time to SOLVE problems not treat the symptoms of them.

    It will be hard but it MUST be done. Morality DOES matter. Take the children back from the Liberal mind frame. It will take time but if any people can achieve this restructuring, the American people can.

    As for these guys, stay alert. Whenever they ACT, we must join arms and demand justice. Until then we must allow EVEN this horrible speech to be free.

    Report Post »  
  • darkmorrow
    Posted on March 22, 2011 at 10:06am

    Hey Mr Holder,
    Go ahead and ignore this one too. We the People will just bend over and take it again, because we are to stoopid as well as detached from reality. I’m Homer Simpson, clinging to my GOD and my guns and yadda, yadda, yadda.
    Heres the truth, stop these people or WE THE PEOPLE WILL. Every time I see a purple shirt theres going to be a problem. Every time the show up somewhere, so will we. This evil must be extinguished, NOW. We must decide to stand against this blatant disregard for the law, simple morality and common decency. NO MORE, THIS IS WAR.
    Thats my bank, and I have a lot of money in it

    Report Post » darkmorrow  
  • Apple Bite
    Posted on March 22, 2011 at 10:05am

    I wonder how deep into this, Obama may be? If his ‘homie’ Eric Holder doesn’t investigate this, that’s all the more reason to riot at the ballot booths in 2012. Hopefully, by then, this country can be salvaged enough to make it worth while being here.

    I really understand what Ayn Rand spoke of now. Socialists don’t understand peace, they only understand deception and bloodshed. And I understand that violence is not he solution. But there’s a point where you snap. Where is it for America? With everything that has happen thus far, remaining PC is NOT an option. The longer people remain PC, the worse this situation becomes for us all. It‘s high time we say exactly what’s on our minds and not just in forums online but in public too. I refuse to live in the United States of Babylon.

    Report Post » Apple Bite  
  • NancyBee
    Posted on March 22, 2011 at 10:05am

    Absolute evil!

    Report Post » NancyBee  
  • TopAssistant
    Posted on March 22, 2011 at 10:05am

    Glenn: I suggest you put together a page that can be easily copied and e-mailed to our politicians demanding an independent investigation into this. Our letters must start with the lowest level of our government (city/town), county, state and federal levels). We must ask them to contact Pres. Obama asking him to initiate the investigation and then ask the politician to provided you a copy of their letters. This puts them on the spot.Will you please ask to get on the Fox shows to explain this?
    Also, where do we find a link to the transcripts? Excellent work!

    Report Post » TopAssistant  
    • thejewel
      Posted on March 22, 2011 at 11:32pm

      totally agee excellent idea yes contact glenn beck he can get it done GET IT DONE yes thankyou and GODBLESS GLENN BECK for exposing the factual truth these scumbags need to be exposed EVERY SATAN FALLS AND ULTIMATELY ENDS IN HELL as these people will, the good always TRIUMPHS over evil just PRAY actually the GOOD LORD IS AT WORK HE IS EXPOSING THE EVIL SATANS OF this world so the GOOD TRIUMPHS alwys HAVE FAITH thanks

      Report Post »  
  • poverty.sucks
    Posted on March 22, 2011 at 10:05am

    We’re unable to achieve prosperity among chaos.

    poverty.sucks  
  • Resister
    Posted on March 22, 2011 at 10:05am

    This revelation comes too late. The SEIU is at the Whitehouse more than any other group. Obama stands with international union thugs, not the American people. Obama’s policies are being directed through and enforced by his hand-picked head of the department of justice. It doesn’t matter how damning the tape is. At best a fall guy will be highlighted and taken down. That’s it.

    In fact, this is Obama’s MO. This is what he has studied and practiced his entire adult life. We need a miracle. The only way to stop them is to impeach the president for treason… NOW!

    Report Post » Resister  
  • pambrooks
    Posted on March 22, 2011 at 10:05am

    Insanity and a huge sense of entitlement.

    Report Post » pambrooks  
  • watchtheotherhand
    Posted on March 22, 2011 at 10:03am

    @ EXPAT………….that was my very first thought this is treason and subversion. Hey I have a great idea let’s have a tax strike where millions of us refuse to pay taxes until the Government start acting responsibly and quits taking 1/4 to 1/3 of our income and wasting on crap projects and special interests that only serve them and their ability to stay in power !!!!!!!!!!! Believe me I am no fan of the Fed Res at all they are crooked and I would love to bring them down, but what these morons don’t realize is that the government is in cahoots with the Fed in a sick unholy symbiotic relationship that both rape the public. Do these people think if they were successful there would some nice easy transition for people. Do they not realize the devastation they would bring to this country and the world. Suffering and desperation would be rampant with many people losing everything. And what in the crap do they think they are going to transform things into that would not be even more oppressive? Give Government even more power? That is a joke. These people are idiots !!!!! Why would any bank lend anyone any money ever again if they were able to accomplish what they desire? The folks at the top of the bank would just fold keep their wealth say forget you and live comfortable all the rest of their life. Then our economy would have very little if any basis for credit. Yeah great plan.

    Report Post » SLEAZYHIPPOs ILLEGITIMATE OFFSPRING  
  • Hickory
    Posted on March 22, 2011 at 10:02am

    In this hand, Soros manipulates the strings of the unions. In the other hand, he manipulates Obama’s strings. The source of all this corruption and misery is one man…….. George Soros. If you vote for another Democrat over the next 4 or 5 years, you are voting for Soros. Remember, he said that he owns the Democratic party because he bought it. But, I suppose the stupidity will continue and some of you will just line up like lemmings and vote for this crap again. Stupid, stupid, stupid.

    Report Post » Hickory  
  • ebryan
    Posted on March 22, 2011 at 10:02am

    This is a joke. None of the people on this tape have the ability to influence millions of Americans to strategically default on their mortgages. Quite frankly, those who have engaged in strategic default on their mortgages are usually the more economically savy. Wealthier folks who refuse to continue pumping good money after bad to pay on mortgages that are hopelessly “under water”. Working class folks who can afford to pay their mortgage will continue to do so because it goes against their value system to default on loan obligations that they have the ability to make. If there are such an increase in foreclosures that it literally results in large banks going belly up, it will have nothing to do with these supposed “economic terrorists”, but the state of our overall economy. If our economy continues to spiral all wealth up to the upper 1 to 2 percent of income earners, the result Beck fears will be a result of the status quo and not some goofy plot by left-wing labor organizer extremist types.

    Report Post »  
    • lketchum
      Posted on March 22, 2011 at 11:00am

      @EBRYAN,

      You persist in the inaccurate representation that economies of scale are finite – and that for any one person to become more wealthy, another person must become more poor.

      You have been peppering the boards with a false math that does not apply to America’s free market capitalism. You’ve asserted time and again that all wealth is aggregating up to the upper 1, or 2% of the population to the exclusion of all others. This is false.

      Far from being zero sum, and flawed as the mercantilists once had it, our economy is many times larger today than it was in 1980. Many more people (in their millions) have become millionaires and business owners – each creating MORE wealth, and not simply taking more of some fixed amount.

      Yes, yes, yes… trillions have been created and some people have become wildly wealthy, and in so doing many millions of other have become wealthy, too.

      The economy is not fixed – it grew (a lot) and it is meant to continue to grow – creating more and more opportunities to succeed.

      If you’re tired of the status quo in a job, quit! Start a business and grow it. It is exactly what I did and no big government, or boogey man corporation came to stop me. I compete and sometimes I win and while I am still relatively small, each day is fun and rewarding. Perhaps one day I’ll be huge and you can target me.

      Report Post » lketchum  
  • bobwilliams
    Posted on March 22, 2011 at 10:01am

    SEIU website today confirms their planned attack on Banks. http://action.seiu.org/page/speakout/wheresthenote?via=ta-home.
    Meanwhile international SEIU is busy hiring activists. http://www.seiu.org/jobs.php

    Report Post »  
    • flagbearer
      Posted on March 22, 2011 at 2:13pm

      Let’s all go apply, get hired, and infiltrate them.

      Report Post »  
    • KCPatriot
      Posted on March 22, 2011 at 3:51pm

      I’d think that sending this story and the video links, and above BobWilliams’ SEUI link to the CEOs of JP Morgan Chase, BofA, and GMAC would be a good start. Let the deep pockets get involved with deciding now if they need to defend themselves against what in my opinion sounds like an organized RICO-type attack on their corporations with a purported goal of disrupting them. Sending these to GOP/Ind Senators and various State officials is probably a good idea as well. This story of organizing country wide to shut down Wall Street, top corporations, and bank shareholder meetings across the country sounds like something State law enforcement needs to investigate to me.

      Report Post »  
  • microace
    Posted on March 22, 2011 at 10:01am

    Everyone of the people in attendance should be thrown in jail for Treason.

    Report Post »  
    • Chet Hempstead
      Posted on April 2, 2011 at 12:46am

      it’s not treason, because investment banks are not supposed to be running the country.

      Report Post »  
  • Cobra Blue
    Posted on March 22, 2011 at 10:01am

    SHALLA

    Pick up a copy of “The Shadow Party” by David Horiwitz….it explains everything perfectly. Piven, Soros, Clinton, Alinsky…the whole lot of them.

    Report Post »  
    • AmeriCat
      Posted on March 22, 2011 at 3:56pm

      Yes, excellent book, as is all of the work of David Horowitz.

      Report Post »  
  • flagbearer
    Posted on March 22, 2011 at 10:00am

    GB’s radio show has just been cut off the air. Message appears that the radio station is unavailable and try again later. What is going on????

    Report Post »  
  • Dale Nick
    Posted on March 22, 2011 at 10:00am

    I always thought that trying to overthrow the government and/or the country was a punishable offense. Maybe it used to be but I guess with this administration it’s not. I’m not a conspiracy theorist or anything but this sure sounds like one.

    Report Post » Gorp  
    • Chet Hempstead
      Posted on April 2, 2011 at 12:45am

      The investment banks are not part of the government and are not supposed to be running the government. Private citizens acting against them because of their disregard for the good opinion of the public that paid to bail them out is perfectly legal and none of the government’s business.

      Report Post »  
  • Stylite
    Posted on March 22, 2011 at 9:59am

    Interesting! Take a look at the website of one of the major US community organizing groups. (http://www.piconetwork.org/) Guess what their main focus is right now….

    Yep… BANKING.

    Look at this page: http://www.piconetwork.org/ourmoneyourvalues

    Report Post »  
    • silcat
      Posted on March 22, 2011 at 10:20am

      Very interesting Stylite. About us: Faith based community organizing…. Where have I heard that before?

      Report Post »  
    • ccr
      Posted on March 22, 2011 at 4:02pm

      That is pretty telling!!! Thanks for that link! That one needs to be shared!!

      Report Post »  
  • freedumb1
    Posted on March 22, 2011 at 9:59am

    Winning the Future!

    Report Post »  
  • Eaglesnest
    Posted on March 22, 2011 at 9:59am

    How do you fight this? Pay double on your mortgage each month? The problem with this is that the banks really are a PART of the problem, but that fact is being co-opted by this radical, anti-capitalism group to push their agenda, which is total government control and redistributive justice. The public sector union protests in Madison were co-opted by private sector unions, socialist groups, etc., that is what they do. Do we find out where this dude lives and let his wife and kids know what it feels like to wake up to 200 angry protestors screaming outside their windows? How do you fight this? Hopefully the exposure Glenn is providing will take some of their thunder. The funny and sad thing is, when I am out and about and see people, I think about how they are most likely unaware of the plotting, the planning, the unholy alliances being created and executed against the future of our children as we go about our daily lives.

    Report Post » Eaglesnest  
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