The ‘We the People Amendment’ Aims to Fix the Crisis of Corporate Rule

Because corporations are not people and big problems require bold solutions
Jaypal“The ‘We the People Amendment,’ introduced last month by Rep. Pramila Jayapal (D-Wa.), write the authors “is authentically grassroots and populist. It is honest, transparent, visionary and anti-establishment. It’s time we tear down our mental walls and act to expand the democratic space that makes possible this and so many other needed constitutional, political, economic and social structural changes.” (Image: Move to Amend)

https://www.commondreams.org/views/2019/03/08/we-people-amendment-aims-fix-crisis-corporate-rule

 

It’s Up To Us To End The Corporate Monarchy

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https://movetoamend.org/its-us-end-corporate-monarchy

The fascination of the 29 million people in the United States who watched the British Royal Wedding over the weekend transcended the pageantry of the event and star power of the celebrity guests. In part, the interest was also due to trying to understand the current role of the monarchy in British society.

British Kings and Queens no longer possess unlimited authority. Dictating and defining virtually every action within the far-reaching British Empire is history —  British royalty today are mere figureheads, soap opera-like curiosities to many to distract attention from the day-to-day problems of life.

While people in the US are no longer “subjects” to British Kings and Queens following the colonial revolution, it would be a mistake to conclude We the People have authentically assumed ultimate or “sovereign” power to self-rule.

It’s never been true and much less true today as corporations, which at one time possessed only those powers and privileges granted by We the People through corporate charters, have fought in the courts to win constitutional rights.

Corporations increasingly act like monarchs.

These never-intended rights have allowed corporations to capture our government and elected officials. The continual and far-reaching wedding of corporations and politicians takes many forms — most of which don’t make television and aren’t of the feel-good, Camelot variety. Their nuptial offspring have been laws that harm people, communities and the planet — adversely affecting health care, education, jobs, housing, trade, budgets, food, transportation, energy, the environment, taxes, finance, and more.

If We the People are to be real rulers, then we have to end corporate rule.

Move to Amend is the only organization that not only takes on the undemocratic, unjust and unsustainable role of corporate personhood, we do something about it — specifically working for a constitutional amendment to abolish corporate constitutional rights.

That’s what our We the People Amendment with its 56 co-sponsors in the House of Represenatives, and hundreds of nationwide resolutions and ballot initiatives, and hundreds of other organizational endorsements are all about.

We seek to end corporate monarchy.

To be legitimately politically independent beyond the reach of corporations, government or big foundations, Move to Amend must be economically independent. We must rely for the vast majority of our funding from people like you — dedicated to ending corporate rule and creating authentic democracy. 

Support Move to Amend. We are still $80,000 short, and we need everyone to pitch in — now! Even better than a one time donation is a pledge to invest in the movement to amend by making your donation monthly.

Royal weddings may be fascinating. But it will take many more than the 100,000 people in the streets who gawked at the royal union to royally volunteer your time, energy and resources to divorce corporations from government and governance.

That’s a disunion worth not only watching, but being a part of! Join us!

Thank you,
Greg Coleridge
Outreach Director, Move to Amend

House Passes Bill Aimed At Reversing Dodd-Frank Financial Regulations

Even the weak Dodd-Frank was too much for financial corporations. The FIRE (Finance, Insurance & Real Estate) industry is near the top of those that spend/contribute/invest $ in lobbying and political campaigns. Another fine example of their investment royally paying off…and why we need the We the People Amendment.

http://www.npr.org/2017/06/08/532036374/house-passes-bill-aimed-at-reversing-dodd-frank-financial-regulations?utm_source=facebook.com&utm_medium=social&utm_campaign=npr&utm_term=nprnews&utm_content=20170608

 

Cage Payday loan sharks

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You’ve seen them I’m sure. Storefronts in largely low-income neighborhoods with flashing signs saying get quick cash or something similar. They’re companies that provide a one-time “quick fix” consumer loan to those short on cash. They’re called Payday lenders and they often are the only financial entities around in otherwise financial deserts of inner cities.  Because of this monopoly, they exploit low-income borrowers and manipulate the law. Call them loan sharks.

One of the big problems with Payday lending corporations is that they’re not required to determine whether borrowers can actually afford the loan.  Most of the time, they can’t. There’s no credit check. Seventy percent of Payday borrowers end up taking out a second loan. About 20% of borrowers end up taking out ten or more loans — caught in a debt trap and racking up interest and fees on top of each other. Annual percentage rates (or APR’s) can end up over 300%. This is a major scam.

The Ohio Public Interest Research Group (PIRG) issued a report this week, which analyzed close to 10,000 recent complaints made to the Consumer Financial Protection Bureau (CFPB), the federal agency responsible for regulating Payday lending corporations.

The PIRG researchers found that 91 percent complaints involved aggressive debt-collection practices, bank account closures, and/or long-term cycles of debt.

The PIRG report also found that about 15 corporations accounted for more than half the complaints. The biggest offenders are doing business under the names of CashNetUSA, NetCredit, Check ‘n Go, and ACE Cash Express.

Ohio voters approved tougher standards for payday lending in 2008, but the Payday loan shark corporations used loopholes to work around them. They still do.

There are proposed rules being considered by the CFPB that would require Payday lenders to determine if borrowers can afford the loan. The CFPB needs to hear from us. The deadline for comments is October 7. Now is the time to act to stop the targeting of low income communities and communities of color. The current head of the CFPB is Richard Cordray, former Ohio Attorney General.

The Payday corporate crowd is doing all they can lobby-wise to keep their exploitative scam of low-income people going. It’s up to us to make sure the CFPB hears loud and clear that we need to stop the exploitative debt trap once and for all.

Go to http://stopthedebttrapohio.com and weigh in. Sign your name as an Ohioan. And spread the word.