1944 — Birth of Dick Durbin, US Senator (IL) on power of banking corporations
“The banks — hard to believe in a time when we’re facing a banking crisis that many of the banks created — are still the most powerful lobby on Capitol Hill. And they frankly own the place.”
Interview on WJJG 1530 AM’s “Mornings with Ray Hanania,” April 2009
[NOTE: The FIRE sector — Finance, Insurance, and Real Estate — is the #1 sector of political campaign investments (mistakenly called “”contributions”” or “”donations””) to federal political candidates. They also employ thousands of lobbyists at state and federal levels who often write the laws and regulations on financial issues.]
1965 — “United Steelworkers of America v. R.H. Bouligny, Inc” Supreme Court decision
The United States Supreme Court has reaffirmed the principle that corporations are “creatures of the state” in at least thirty-six different rulings. This is one of them.
1971 — Supreme Court decision grants 14th Amendment to women
The Supreme Court ruled for the first time in Reed v. Reed (40,U.S. 71) that the Equal Protection Clause of the Fourteenth Amendment prohibited differential treatment based on sex. By comparison, the Supreme Court first ruled that the 14th Amendment applied to corporations in 1886.
2011 — Death of Richard Grossman, Co-Founder, Program on Corporations, Law & Democracy (POCLAD)
“Sovereignty is in our hands now…when the people running a corporation assume rights and powers which the sovereign had not bestowed or when they assault the sovereign people, this entity becomes as affront to our body politic. And like a cancer ravaging a human body, such a rebellious corporation must be cut out of our body politic.” Corporations, Accountability and Responsibility memorandum from Richard Grossman
2015 – Published article “Perceptions of elected officials and the role of money in politics” by Pew Research Center
“Asked to name the biggest problem with government today, many cite Congress, politics, or a sense of corruption or undue outside influence…
“The 2016 campaign is on pace to break records for campaign spending. A large majority of Americans (76%) – including identical shares of Republicans and Democrats – say money has a greater role on politics than in the past. Moreover, large majorities of both Democrats (84%) and Republicans (72%) favor limiting the amount of money individuals and organizations can spend on campaigns and issues…
“The influence of special interest money on elected officials tops the list of named problems…”
1908 – Opening of nation’s first credit union, “La Caisse Populaire, Ste-Marie,” in Manchester New Hampshire
Credit unions are financial cooperatives, member-owned and democratically controlled by their members to meet the basic financial services of those members and they often support community development. La Caisse Populaire, Ste-Marie (The People’s Bank, later changing its name to St. Mary’s Cooperative Credit Association) helped the primarily Franco-American mill workers save and borrow money.
“Over the years, St. Mary’s Bank helped members through difficult times, including the Great Depression and the bankruptcy of Amoskeag Manufacturing Company in 1935. When thousands of banks failed during the Great Depression, St. Mary’s Bank remained open, even during the “Bank Holiday” of 1933, when President Roosevelt closed all banks nationwide. St. Mary’s Bank also survived the economic disruptions of the early 1990’s, which saw the failure of many familiar Manchester banks.”
1996 — Founding of the Alliance for Democracy at Texas convention
Delegates from 30 states attended the 3-day founding convention in Texas. The Alliance was one of the earliest modern-day “democracy” organizations. Its goal was to “free all people from corporate domination of politics, economics, the environment, culture and information; to establish true democracy; and to create a just society with a sustainable, equitable economy…Piecemeal reform isn’t enough anymore. The corporate system will not permit us to win anything fundamental by politics as usual. We see our unique role as seeking the deep systemic change we’ll need to win our independence from corporate rule and replace it with true democracy.” http://www.thealliancefordemocracy.org
One of their three original national campaigns was, “Transforming the nature of large corporations to subordinate them to democracy.” They eventually established 55 local Alliance affiliates and dozens of local ‘Democracy Brigades’ to add a nonviolent direct action campaign component to its work.
1874 — Greenback Party founded
The Greenback Party was founded on this day at a convention in Indianapolis. Many of its members were farmers hurt by the financial Panic of 1873 (also known as the “Crime of ‘73”). The party supported “Greenback” paper money (U.S. Notes) issued and spent into circulation by the Lincoln administration. They opposed all money systems backed by any precious metal, believing that those who owned gold or silver (banks and corporations) would possess the power to define the value of products and labor. Government control of the US money system would also ensure sufficient quantity of money was in circulation to help small businesses and farmers. Twenty-one independent congressmen, mostly Greenbackers, were elected in 1878.
1968 — Death of Upton Sinclair, advocate of California economic cooperative program
“It is difficult to get a man to understand something, when his salary depends on his not understanding it.”
2003 — Statement of Lewis Pitts, former Program on Corporations, Law & Democracy (POCLAD) principal
“I think what I believe is totally balanced and therefore moderate. I think the essential political unit is the individual, and not corporations. So in that sense I guess I’m a populist.”
2012 – Published article, “Reconsider Buckley v. Valeo” by Sam Fedele, OpEd News
“ Buckley’s “money is speech” doctrine also puts space between members of the privileged class itself by creating a form of speech which scales with wealth. The more money one has the more speech one has. This rings Orwellian. Some speakers are more equal than others. And with the media focus of modern elections, political speech that effectively reaches the masses is reserved for the modern aristocracy alone.”