wall st on parade martens
my new heroes
Publisher: Russ Martens – ram741@aol.com
Editor: Pam Martens – pamk741@aol.com
am lung
Ms. Martens worked for two large Wall Street firms for a total of 21 years. She personally managed investment portfolios for individuals for 11 years at Shearson American Express (which became Salomon Smith Barney). She spent the following decade at A.G. Edwards & Sons as Vice President/Investments, also personally managing the life savings of individuals. She retired in 2006 to pursue public interest writing on matters involving Wall Street.
The last decade of Ms. Martens career was spent as an outspoken critic of Wall Street’s corrupt practices, its private justice system (mandatory arbitration) and the repeal of the Glass-Steagall Act. (This
captures Ms. Martens testifying before the Federal Reserve on June 26, 1998 against the repeal of the Glass-Steagall Act.) Ms. Martens’ earlier career was in publishing, including Editor-in-Chief of a national trade magazine covering the business side of college and university bookstores.
https://wallstreetonparade.com/2022/06/the-glue-that-connects-jeffrey-clark-john-eastman-ginni-thomas-and-the-guy-who-was-air-dropped-into-the-doj-is-charles-kochs-money/
in September 1999 the U.S. Department of Justice filed racketeering charges against the major tobacco companies and two of their front groups. The court filings in that case carefully pieced together a half century of conspiratorial conduct and lies that gravely harmed the health of the American people, while lining the pockets of the tobacco industry, its lawyers and its paid shills.
The January 6 Select House Committee has that same, once-in-a-lifetime power in its hands. But that window of opportunity will close soon. The January 6 Committee can connect all the dots of the attempted coup leading to the doorstep of Charles Koch and expose his four decades of establishing front groups to shill for the fossil fuels industry and anti-climate change groups, or it can present a false and narrow view that this was all about the ego and narcissism of Donald Trump.
Charles Koch is the Chairman and CEO of one of the largest private companies in the world, Koch Industries, a fossil fuels and chemicals conglomerate that has been a serial polluter of the air and water for decades. According to Forbes, Koch has a net worth of $59.8 billion, making him the 17th richest man in the world. Charles Koch, and his late brother, David, functioned as backroom party bosses, behind the veil of a sprawling network of tax-exempt front groups, for 40 years.
Wall Street On Paradehas already produced the evidence tying the groups involved in the planning of the January 6 event to Charles Koch. See our report: The Money Trail to the Siege at the Capitol Leads to Charles Koch and Koch Industries.
We have already written about how the Trump administration was staffed up with Koch-related people and took its marching orders from a Koch-related entity, Freedom Partners.
There is also documented evidence that the Koch network engaged in a multi-faceted strategy to discourage progressives and liberals from turning out in the 2016 presidential election, thus tipping the victory to Trump. Not only did the Koch network fund Americans for Prosperity and Freedom Partners Action Fund ads portraying Democrats as tax and spend bureaucrats but the Koch-controlled i360 voter database and voter-targeting operations may have demoralized the progressive base from turning out while those same operations spurred Republicans to the polls.
And, today, we will show how key collaborators in the attempted coup on January 6 – Jeffrey Clark, John Eastman, Ginni Thomas, Cleta Mitchell, and Kenneth Klukowski – the attorney who was air-dropped into the U.S. Department of Justice just 35 days before the end of Trump’s term – all have ties to front groups funded by Charles Koch or his related nonprofits.
Let’s start withJeffrey Clark, the environmental lawyer at the Department of Justice with no criminal experience that Trump wanted to name U.S. Attorney General because he was willing to go all-in with the attempted coup. After the failed coup, Clark was out of a job at the Department of Justice. He was, in short order, named Chief of Litigation and Director of Strategy at a group called the New Civil Liberties Alliance (NCLA). That’s a curious hire for someone likely facing a long criminal investigation and possible conviction.
NCLA has received millions of dollars from Charles Koch related entities. The Charles G. Koch Foundation gave NCLA $1 million in 2017, $1 million again in 2018, and $1 million again in 2019 for “general operating support,” according to its publicly-available 990 tax filings with the IRS. The Charles Koch Institute gave NCLA $1 million in 2020. Donors Trust, a dark money nonprofit with Charles Koch’s fingerprints all over it, gave NCLA more than $2 million from 2018 through 2020, according to its 990 filings.
In addition to needing a job after the failed coup attempt, Jeffrey Clark needed a plugged-in attorney. Somehow, he found his way to Harry MacDougald, a Managing Partner at Caldwell, Carlson, Elliott & DeLoach. The fossil fuels industry watchdog, DeSmog, describes MacDougald as follows:
“MacDougald was part of the legal team that worked with the Southeastern Legal Foundation to challenge the EPA‘s endangerment finding on greenhouse gases.In its lawsuit against the EPA, Southeastern Legal identified its allies in the effort as ‘like-minded organizations’ including the Competitive Enterprise Institute, Heritage Foundation, Cato Institute, and the Independent Women’s Forum, among others.”
DeSmog notes that MacDougald spoke at the Heartland Institute’s “America First Energy Conference” in New Orleans in 2018. The Heartland Institute is a climate science denier that has received more than $26 million from two Koch-related groups, Donors Capital Fund and Donors Trust, according to the Conservative Transparency Project using publicly available 990 IRS tax filings. The conference was promoted as follows:
“The purpose of this event is to promote and expand energy freedom in the United States, as outlined in President Donald Trump’s bold America First Energy Plan, a proposal first released during the 2016 presidential campaign. The president’s plan marks a decisive change in direction from the Obama administration’s ‘war on fossil fuels’…”
Two of the allied groups mentioned above, the Cato Institute and the Heritage Foundation, have long histories with Koch money.Charles Koch and his late brother, David, were actually secret owners of the Cato Institute for decades. Greenpeace has called the Heritage Foundation “Koch Industries’ Climate Denial Front Group” and reports that it has received $6,130,201 from Koch foundations from 1997 through 2017.
Ginni Thomas, wife of Supreme Court Justice Clarence Thomas, who was firing off all of those emails to Trump’s White House Chief of Staff, Mark Meadows, to press for the attempted coup, had previously received $1,051,214 in compensation from the Heritage Foundationover a number of years. Clarence Thomas failed to report that compensation on his financial disclosure forms at the Supreme Court, even though he was required to do so.
The ties between Ginni Thomas and another attempted coup collaborator, Cleta Mitchell, run deep – with all roads leading to Koch money. As we reported in March:
In the emails that Ginni Thomas sent to Trump’s Chief of Staff, Mark Meadows, one of the people that she told Meadows to listen to was attorney Cleta Mitchell – a woman who has both a longstanding association with Ginni Thomas as well as with Koch front groups. Trump’s phone log for January 6 shows that Cleta Mitchell was one of the people that Trump spoke with at 7 :53 p.m. on the evening of the attack on the Capitol.
Cleta Mitchell has been in the news previously as the lawyer who was on the January 2, 2021 call with Donald Trump when he phoned the Secretary of State of Georgia, Brad Raffensperger, and told him: “I only need 11,000 votes. Fellas, I need 11,000 votes. Give me a break.” That call took place two months after the presidential election. (Mitchell stepped down from her long-term employment at law firm Foley & Lardner after her presence on that call was made public.)
Cleta Mitchell is also the attorney who filed an amicus brief in the Citizens United case before the Supreme Court that was decided on January 21, 2010. That case would be the tipping point to allow unlimited sums from corporations – like Koch Industries — in U.S. elections.
Just eight days after Justice Thomas voted in favor of that decision to open the floodgates to corporate money in campaigns, Cleta Mitchell made a move that looked very much like a quid pro quo to Ginni Thomas.Mitchell, then still a partner at Foley & Lardner, filed an application with the Internal Revenue Service to set up a nonprofit called Liberty Central, Inc. on behalf of Ginni Thomas. According to IRS tax filings, Liberty Central received a combined $1.478 million from dark money donors in 2009 and 2010.
On the IRS tax filings for Liberty Central for 2009 and 2010, Ginni (Virginia) Thomas is listed as President and CEO. The 2010 tax filing shows that Ginni Thomas received $120,511 in compensation from Liberty Central that year. She eventually stepped down from an official post at the nonprofit, stating she would serve as a consultant.
Liberty Centralhad the fingerprints of Charles Koch all over it. Acting as General Counsel in 2010 for Liberty Central was a former lawyer for the Charles G. Koch Foundation, Sarah Field. A former Koch lobbyist, Matt Schlapp, served on the Board of Liberty Central at inception.
Mitchell’s law firm, Foley & Lardner, employed three attorneys working as lobbyists for a Koch Industries affiliate, Koch Companies Public Sector, LLC in Madison, Wisconsin in 2011. The Koch-related lobbyists were Ray Carey, Jason Childress and Kathleen Walby.
Mitchell was a former lobbyist at the federal level in years 2005 through 2008 for the Alliance for Charitable Reform, a project of The Philanthropy Roundtable, another tax-exempt organization. Donors Trust and Donors Capital Fund, two dark money groups which also have Charles Koch’s fingerprints all over them, were spun off from the Philanthropy Roundtable in 1999. (See our report: Koch Footprints Lead to Secret Slush Fund to Keep Fear Alive.)
The financial disclosure forms filed by Clarence Thomas show that from 2011 through 2017, Ginni Thomas received a “salary” from the Daily Caller, a right-wing spin organization founded in 2010 by Fox News commentator Tucker Carlson and former Dick Cheney aide Neil Patel. Its creation was announced at a gathering at the Heritage Foundation. The Daily Caller’s affiliated News Foundation has received funding from the Koch Family Foundations and the Charles Koch Institute.
Despite the previous scandal over Clarence Thomas failing to report that Ginni Thomas had received income from the Heritage Foundation, there are no dollar ranges listed on his financial disclosure forms to show the range of “salary” Ginni Thomas actually received from the Daily Caller from 2011 to 2017.
From 2011 through 2020, Clarence Thomas shows that his wife was receiving “salary and benefits” from Liberty Consulting. But again, there is no range of salary and benefits shown. Instead, Liberty Consulting is listed under “Investments” and shows a “book value” of $100,000 to $250,000 in 2019, which then drops to $15,000 to $50,000 in 2020.
Then there isKen Klukowski, the man air-dropped into the Department of Justice just 35 days before Trump’s term ended to work at the elbow of Jeffrey Clark. The Select Committee believes that Klukowski may have been involved in drafting the proposed letter to state officials which falsely claimed that the Justice Department had “identified significant concerns” about the vote totals in those states and the states should consider sending “a separate slate of electors supporting Donald J. Trump.”
Klukowski had been a writer at the right-wing outlet, Breitbart, which was formerly led by former Trump White House advisor, Steve Bannon. Bannon was the long-tenured filmmaker for Citizens United, the nonprofit involved in the history-making case at the U.S. Supreme Court that opened the floodgates to corporate money in campaigns. Bannon made right-wing propaganda documentaries for Citizens United like “Fire from the Heartland,” a glowing tribute to Michele Bachmann; “The Undefeated,” profiling the rise of Sarah Palinto national prominence and the darling of the Tea Party movement; “Generation Zero,” blaming the 2008 financial crash on liberals instead of the Wall Street bank executives who presided over the unprecedented frauds; and
,” demonizing the young people attempting to remove their democracy from the iron grip of the one percent as sinister criminals.
Klukowski got his law degree from George Mason University, one of the largest and longest recipients of Koch money. In just the three most recent years that public 990 tax filings are available, they show that the Charles G. Koch Foundation gave a total of $46.89 million to George Mason University from 2017 through 2019.
In 2018, New York Times reporters Erica L. Green and Stephanie Saul wrote about how newly-released documents showed that Koch’s money came with strings attached at George Mason University:
“The documents reveal in surprising detail that for years, as George Mason grew from a little-known commuter school to a major public university and a center of libertarian scholarship, millions of dollars in donations from conservative-leaning donors like the Charles Koch Foundation had come with strings attached.
“As early as 1990, entities controlled by the billionaire brothers Charles G. and David H. Koch were given a seat on a committee to pick candidates for a professorship that they funded, the records show. Similar arrangements that continued through 2009 gave donors decision-making roles in selecting candidates for key economics appointments at the Mercatus Center,a Koch-funded think tank on campus that studies markets and regulation. The appointments, which also created faculty lines at George Mason, were steered to professors who, like the Kochs, embraced unconstrained free markets.”
And, finally, there is John Eastman, the Trump lawyer who ranted on the stage before the crowd at the Capitol on January 6 about widespread voter fraud in the election and, according to the Select Committee, played a key role in the attempted coup.
Both Cleta Mitchell and John Eastman are tied to the Public Interest Legal Foundation. Mitchell is the Chair of the Board and Eastman is a Director. The New York Times has reported that it was Mitchell who “enlisted John Eastman, the lawyer who crafted specious legal theories claiming Vice President Mike Pence could keep Mr. Trump in power.”
Eastman is also Chairman of the Board of the National Organization for Marriage (NOM) according to its website, a group opposing same-sex marriage. Wall Street On Parade looked into that group in 2011. We found multiple ties to the Koch network’s pursuit of the Citizens United decision at the U.S. Supreme Court.
When Ginni Thomas filed her registration statement for her own tea party group, Liberty Central, Inc., with the state of West Virginia on December 31, 2009, she listed her accountant as Neil Corkery with an address of 8665 Sudley Road, Suite 182 in Manassas, Virginia. According to a UPS store employee located there, there was no other business located at this site; just post office boxes. When Ginni Thomas filed her first IRS 990 form for tax year 2009 for Liberty Central, she listed her tax preparer as Conlon and Associates LLC.
These same two names, Neil Corkery andConlon and Associates LLC,would end up on the 2009 tax filings of the National Organization for Marriage.
The IRS 2009 tax filing for the National Organization for Marriage, Inc. shows it took in $7.1 million and made five grants totaling $2,105,000. Stand for Marriage Maine received 93 percent of those funds, or $1,960,000. Stand for Marriage Maine waged the successful 2009 repeal of same-sex marriage in Maine, using the same tactics and, indeed, the same ad and marketing firm that was used in the California Proposition 8 battle.
Secret donors washing money through a 501(c)(4) tax exempt organization and then funneling it to a Political Action Committee in Maine brought a request for an investigation to the Maine Commission on Governmental Ethics and Election Practices by Fred Karger, founder of Californians Against Hate. The Commission initiated an investigation. Stepping forward to represent both the National Organization for Marriage and Stand for Marriage Maine PAC was the law firm Bopp, Coleson & Bostrom.
James Bopp of Bopp, Coleson & Bostrom is (wait for it) the lawyer who represented Citizens United in the lower courts and, hoping to gut campaign financing reform, maneuvered the case to the U.S. Supreme Court.
The law firm Bopp, Coleson & Bostrom is located in Terre Haute, Indiana. What is the statistical probability of it being sheer coincidence that an Indiana law firm is involved in a nonprofit advocacy group case in Maine involving secret donors; also involved in the Citizens United case before the U.S. Supreme Court in Washington D.C. involving secret donors; and the wife of Justice Clarence Thomas is using the same Neil Corkery and Conlon and Associates for her Tea Party nonprofit as Bopp’s anti same-sex marriage clients in the Maine case?
We strongly urge the January 6 Select Committee to provide the full, unvarnished truth to the American people.
https://www.citywatchla.com/index.php/cw/guest-words/24209-the-money-trail-ginni-thomas-emails-to-overturn-biden-s-election-leads-to-charles-koch
2020 ELECTION CONSPIRACY - The Washington Post’s Bob Woodward and Bob Costa of CBS News have unleashed a fury of renewed interest in the work of the House Select Committee investigating the January 6 attack on the Capitol.
Last Thursday, Woodward and Costa set off a political firestorm when they released the contents of emails that Ginni Thomas, wife of the sitting Supreme Court Justice, Clarence Thomas, had sent to President Donald Trump’s Chief of Staff, Mark Meadows, in 2020, urging him to overturn the Biden election win and attempting to steer his efforts in that regard.
A total of 29 emails were obtained by Woodward and Costa, with the bulk of the emails occurring in just the month of November 2020, raising questions as to how many more emails are still out there from Thomas to the White House from December 1, 2020 through January 20, 2021 when Biden was sworn in.
Much of the current news debate around the emails is focusing on whether Clarence Thomas should recuse himself from cases involving groups with which his wife is involved and whether the Select Committee should subpoena Ginni Thomas to testify. While those are certainly important issues, what has thus far been ignored is the smoking gun trail that leads directly to the doorstep of billionaire and right-wing Republican political mastermind, Charles Koch, the Chairman, CEO (and majority owner with the heirs of his deceased brother David) of the fossil fuels conglomerate Koch Industries.
Wall Street On Parade has previously documented that at least three of the front groups that fomented the Big Lie that the 2020 presidential election had been stolen from Trump and that actively solicited thousands of people to turn out for the January 6 event at the Capitol, were funded by Koch Industries or its front groups.
The smoking gun in the Ginni Thomas email thread occurs in an email dated November 10, 2020 when she tells Meadows to “Listen to Rush. Mark Steyn, Bongino, Cleta.” Thomas is clearly referring to conservative commentators Rush Limbaugh, Mark Steyn and Dan Bongino, and lawyer, Cleta Mitchell.
Cleta Mitchell is best known in the Trump election saga as the lawyer who was on the January 2, 2021 call with Donald Trump when he phoned the Secretary of State of Georgia, Brad Raffensperger, and told him this: “I only need 11,000 votes. Fellas, I need 11,000 votes. Give me a break.” That call took place two months after the presidential election. (Mitchell stepped down from her long-term employment at law firm Foley & Lardner after her presence on that call made the news cycle.)
But Cleta Mitchell’s relationship with Ginni Thomas dates back at least a decade earlier – and not in a good way.
Cleta Mitchell had filed an amicus brief in the Citizens United case before the Supreme Court that was decided on January 21, 2010. That case would be the tipping point to allow unlimited sums from corporations – like Koch Industries — in U.S. elections.
Just eight days after Justice Thomas voted in favor of that decision to open the floodgates to corporate money in campaigns, Cleta Mitchell made a move that looked very much like a quid pro quo to Ginni Thomas. Mitchell, then still a partner at Foley & Lardner, filed an application with the Internal Revenue Service to set up a nonprofit called Liberty Central, Inc. on behalf of Ginni Thomas. According to IRS tax filings, Liberty Central received a combined $1.478 million from dark money donors in 2009 and 2010.
On the IRS tax filings for Liberty Central for 2009 and 2010, Ginni (Virginia) Thomas is listed as President and CEO. The 2010 tax filing shows that Ginni Thomas received $120,511 in compensation from Liberty Central that year. She eventually stepped down from an official post at the nonprofit, stating she would serve as a consultant.
Liberty Central had the fingerprints of Charles Koch all over it. Acting as General Counsel in 2010 for Liberty Central was a former lawyer for the Charles G. Koch Foundation, Sarah Field. A former Koch lobbyist, Matt Schlapp, served on the Board of Liberty Central at inception.
Mitchell’s law firm, Foley & Lardner, employed three attorneys working as lobbyists for a Koch Industries affiliate, Koch Companies Public Sector, LLC in Madison, Wisconsin in 2011. The Koch-related lobbyists were Ray Carey, Jason Childress and Kathleen Walby.
Mitchell, herself, was a former lobbyist at the federal level in years 2005 through 2008 for the Alliance for Charitable Reform, a project of The Philanthropy Roundtable, another tax-exempt organization. Donors Trust and Donors Capital Fund, two dark money groups which also have Charles Koch’s fingerprints all over them, were spun off from the Philanthropy Roundtable in 1999. (See our report: Koch Footprints Lead to Secret Slush Fund to Keep Fear Alive.)
Mitchell is listed on the 2018 federal tax filing for Steve Bannon’s charity, Citizens of the American Republic, as an officer of the organization, holding the position of Secretary. Bannon and others were charged in August of 2021 by the Department of Justice with bilking donors out of hundreds of thousands of dollars through that charity.
Senator Ron Johnson, a Republican from Wisconsin, was one of those pushing the narrative on television that the election had been stolen from Donald Trump. According to the Center for Responsive Politics, lawyers and staff of Foley & Lardner were the third largest donor to Johnson’s campaign committees since 2015. Employees and officials of Koch Industries ranked fifth.
There were only eight Republican Senators who refused to certify the votes for the challenged states of Arizona and/or Pennsylvania. Those Republican Senators were: Ted Cruz of Texas; Josh Hawley of Missouri; Rick Scott of Florida; Tommy Tuberville of Alabama; Roger Marshall of Kansas; Cindy Hyde-Smith of Mississippi; John Kennedy of Louisiana; and Cynthia Lummis of Wyoming. Every Republican Senator who refused to certify the election results on January 6 received funding from Koch Industries PAC.
Trump’s Chief of Staff, Mark Meadows, whom Ginni Thomas enlisted in the White House to help overturn Biden’s election win, was previously a member of the House of Representatives from North Carolina from 2013 to 2020. He also received campaign funding from the Koch Industries PAC throughout his time in Congress.
Charles Koch is usually very careful in keeping an arm’s length relationship between himself and his political operations. But on at least one occasion Koch conducted a dinner meeting directly with sitting Justice Clarence Thomas at a private club in California.
In January 2008, Justice Thomas attended an all-expenses-paid, four-day trip to the Koch brothers’ semi-annual political gathering in the Palm Springs area of California. (According to his 2008 disclosure form and the Supreme Court’s public information office, Thomas’ expenses for that trip were paid by the Federalist Society, a conservative nonprofit that Koch foundations have generously supported.)
Justice Thomas’ trip to the Koch event occurred in the same year that the Citizens Unitedcase was accepted by the Supreme Court. The Court accepts less than two percent of all cases appealed to it.
Wall Street On Parade was previously able to confirm with Scott Markley, Public Information Specialist at the Supreme Court, that during that January 2008 visit to the Koch political gathering, Justice Thomas was hosted by Charles Koch and his wife, Elizabeth, at the private Vintage Club where Charles Koch is a member.
The Citizens United decision did not pass the smell test when it was approved in a 5-4 vote by the Supreme Court. Four of the nine justices wrote a scathing dissent that raised the issue of unprincipled behavior, writing that the majority had ruled on issues that were not even legally before the court.
The money that the Koch political machine pumped into putting Trump in the Oval Office quickly paid big dividends in his first term (and made it clear as to why Charles Koch would have wanted to see a second Trump term).
Koch Industries’ law firm, Jones Day, sent 12 of its law partners to staff up key positions in the Trump administration on the very day Trump was inaugurated. Jones Day has since sacked the press release it issued at the time but you can read the reporting on it at the American Bar Association Journal.
Once Trump was settled in the Oval Office, a Koch front group, then known as Freedom Partners, mapped out the agenda it expected Trump to march to. In a document titled “Roadmap to Repeal: Removing Regulatory Barriers to Opportunity,” the group listed the laws and regulations it expected to be repealed in the first 100 days of Trump’s administration. The Trump administration dutifully marched to the beat. Repeal the Paris Climate Accord – done. Tax cuts for corporations and the wealthy – done. Gutting federal regulations and the Environmental Protection Agency – done.
By the spring of 2018, 12 people who previously worked at Freedom Partners were working in the Trump administration. Freedom Partners has since disbanded but when we last took a look at the nonprofit in July 2018, we found that all but one of Freedom Partners’ 9-member Board of Directors was a current or former Koch company employee. The Board Chair of Freedom Partners at that time was the same Mark Holden that was the General Counsel of Koch Industries.
It’s time for the House Select Committee to subpoena not just Ginni Thomas and Cleta Mitchell. It’s time to hear from Charles Koch directly on how so much money bearing his fingerprints ended up fomenting the attack on the Capitol on January 6.
There will never be a better time than now for the American people to finally get at the truth.
(Pam Martens & Russ Martens are authors at CounterPunch.org. This originally appeared on Wall Street on Parade
ref 2
https://kochdocs.org/2019/06/06/freedom-partners-roadmap-repeal/
2017 Koch Freedom Partners: A “Roadmap” for the Trump Administration to Repeal Environmental Rules
This 2017 document titled “A Roadmap to Repeal: Removing Regulatory Barriers to Opportunity” was created by Freedom Partners, a donor group Politico has called the “secret bank” of the Koch Brothers.
This memo from Charles Koch’s network to its funders details changes in the law sought by what was then called the Freedom Partners Chamber of Commerce, which was controlled by Koch and his operatives.
That group is now operating under the name “Stand Together.” Whatever the name, the concept is the same: this is the political agenda of the Koch empire in coordination with the CEOs and corporations that help fund Charles Koch’s agenda through a non-profit trade group–organized under 501(c)(5) of the IRS Code–which has operated under different brand names.
This kind of memo is one of the organizing tools deployed by Koch to get his billionaire and millionaire funder allies, who are part of what is also sometimes called the “Koch Network,” on the same page about the agenda for the year ahead. Koch’s political hq circulates these kinds of memos to attendees of the semi-annual retreats Charles Koch has been hosting for years to advance his personal and corporate agenda.
This particular memo is focused on Koch’s agenda to have the Trump Administration changes the laws to suit his goals. This “Roadmap” includes a list of “what can be repealed in the first 100 days” of the Trump administration such as:
- “Executive order putting a moratorium on new federal coal leases;”
- “Paris climate agreement requiring greenhouse gas emission reductions;”
- “Proposed Environmental Protection Agency (EPA) programs incidental to the Clean Power Plan;”
- “Final Stream Protection Rule regarding coal mine permitting;”
- “Bureau of Land Management (BLM) federal lands Methane Rule;”
- “Environmental Protection Agency (EPA) Renewable Fuel Standard (RFS): 2017 and 2018 obligations;”
- “EPA Greenhouse Gas Emission Standards: Medium- and Heavy-Duty Engines and Vehicles.”
It also lists “longer-term opportunities” such as the:
- EPA Rule defining The Waters of the United States;
- Reversing the EPA’s Clean Power Plan.
- [doc]
A ROADMAP TO REPEAL:
REMOVING REGULATORY
BARRIERS TO OPPORTUNITY
President Obama has imposed an unprecedented onslaught of regulatory costs on the U.S. economy. Since 2009, federal
agencies have issued more than 600 major regulations with a total cost exceeding $700 billion. These regulations have erected
barriers to opportunity for millions of American families, resulting in the weakest workforce in nearly 40 years.
Freedom Partners strongly supports efforts by President-elect Trump and the new Congress to repeal as many of President
Obama’s executive actions and regulations as possible. Removing these barriers to opportunity is among the surest ways to
jumpstart the U.S. economy and create more opportunity for all.
Unfortunately, repealing federal regulations is not as simple as it sounds. A successful strategy must be considered in three steps
and will require action from the administration, Congress, and the courts. Additionally, Freedom Partners urges Congress
to put lawmakers on record on as many of these regulations as possible so that voters can see where they stand and hold them
accountable in 2018.
STEP 1. WHAT CAN BE REPEALED IN THE FIRST 100 DAYS
Executive actions, proposed regulations, and recently finalized regulations.
Executive Actions and Proposed Regulations: President-elect Trump can unilaterally rescind any executive
action signed by President Obama or proposed regulations that have yet to be finalized, including, but not limited to:
Executive order establishing a task force on commercial advocacy
Executive order putting a moratorium on new federal coal leases
Presidential memorandum requiring new federal overtime rule promulgation
Paris Climate Agreement requiring greenhouse gas emissions reductions
Proposed Environmental Protection Agency (EPA) programs incidental to the Clean Power Plan
Proposed Consumer Financial Protection Bureau (CFPB) payday and vehicle title loan rules
Proposed CFPB arbitration rules
Regulations Finalized On or After June 13, 2016: Under the Congressional Review Act (CRA), Congress can
avoid a Senate filibuster to repeal all regulations finalized during the last 60 legislative days, with June 13, 2016, being the
cutoff date. Congress should prioritize the following:
Final Stream Protection Rule regarding coal mine permitting
Bureau of Land Management (BLM) federal lands Methane Rule
Environmental Protection Agency (EPA) Renewable Fuel Standard (RFS): 2017 and 2018 obligations
EPA Greenhouse Gas Emissions Standards: Medium- and Heavy-Duty Engines and Vehicles
STEP 2. LONGER-TERM OPPORTUNITIES
All other regulations passed before June 13, 2016 can be repealed in at least one of three ways.
Executive Rulemaking, Legislation to Rescind or Defund, and Judicial Challenges. These are time-consuming
processes that should begin immediately. President-elect Trump and Congress should prioritize the following:
EPA Rule defining The Waters of the United States
EPA Clean Power Plan
HHS Electronic Health Record Incentive Program
HHS Establishment of Exchanges and Qualified Health
DOL Overtime Rule
DOL Fiduciary Rule
FCC “Net Neutrality” Rule
USDA Calorie Labeling for Vending Machines
STEP 3. POLITICAL ACCOUNTABILITY
Freedom Partners will hold lawmakers who oppose regulatory relief accountable for their positions.
Floor Time: Congressional leaders should devote sufficient floor time to voting on finalized regulations and putting
lawmakers on record on President Obama’s most harmful regulations.
Voter Education: Network organizations will educate voters about their elected representatives’ positions on regulations
that impose barriers to opportunity for hardworking families.
This document was created by Freedom Partners, an organization which Politico called the “secret bank” of the Koch Brothers. https://www.politico.com/story/2013/09/behind-the-curtain-exclusive-the-koch-brothers-secret-bank-096669#ixzz2hj4y5I8o
Original Document (PDF) »
Contributed by Casey (Climate Investigations Center)
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JPMorgan Chase’s Derivatives Spike by $14 Trillion in First Quarter to Six-Year High of $60 Trillion
By Pam Martens and Russ Martens: June 24, 2022 ~ Add JPMorgan Chase, the biggest bank in the United States with an unprecedented five criminal felony counts since 2014, to the growing list of debacles of which the Fed has lost control. The Fed has its bank examiners pouring over the books of JPMorgan Chase on an ongoing basis, but somehow the bank’s dangerous book of derivatives has been allowed to spike by $14.42 trillion in the first quarter of this year, soaring from $45.84 trillion on December 31, 2021 to $60.26 trillion on March 31, 2022. That’s an increase of 24 percent in a three-month span. That information comes from page 18 of the newly-released report on derivatives in the banking system from the Office of the Comptroller of the Currency (OCC). The Dodd-Frank Act of 2010 was supposed to stop the insanity of unfathomable amounts of risky derivatives being … Continue reading →
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Is the Crypto Threat to U.S. Financial Stability $889 Billion or $10 Trillion?
Visa, Mastercard and Crypto
By Pam Martens and Russ Martens: June 23, 2022 ~ Yesterday, Benzinga reported on a curious statement made by Fed Chair Jerome Powell during his appearance before the Senate Banking Committee on Wednesday. Powell was asked by Senator Kyrsten Sinema (D-AZ) if the Fed had been tracking the events in the crypto markets in the past several weeks. Powell responded that the Fed was watching those events “very carefully” but the Fed “did not see significant macro-economic implications.” The article goes on to lend credence to this observation from the Fed by noting the following: “It is important to note the entire cryptocurrency market cap is $889.25 billion versus the American GDP, which is $25.34 trillion, and an equities market that controls more than $49 trillion.” Before we drill down into the weeds of that crypto market cap figure, it’s important to note that former Fed Chair Alan Greenspan told Congress that he saw no major … Continue reading →
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Crypto Victims’ Cries for Help Are Piling Up at a Federal Complaint Center
By Pam Martens and Russ Martens: June 22, 2022 ~ The Consumer Financial Protection Bureau (CFPB) is the federal agency that was created under the Dodd-Frank Act of 2010 in response to Wall Street’s harrowing abuses to average Americans in the leadup to the financial crash of 2008. One of its key benefits is that it has a complaint database where consumers can post their complaints to the agency, and the general public and reporters can read those complaints on a public website. The general public benefits by seeing what types of complaints are being made against a financial institution they might be considering doing business with and reporters can look for dangerous patterns that are emerging. We delved into a specific area of complaints at the CFPB yesterday. We put the word “Bitcoin” into the search box and pulled up 1,031 matches. Next we searched under the word “crypto” and … Continue reading →
Has Crypto Endangered Federally-Insured Big Banks? Ask State Street
Ronald P. O'Hanley, Chairman and CEO, State Street
By Pam Martens and Russ Martens: June 21, 2022 ~ There have been a number of articles lately attempting to reassure Americans that the crypto carnage will not cause financial instability or an economic collapse in the U.S. like that of 2008. The fact is, absolutely no one can say with any degree of certainty what will be the outcome of this unprecedented era of reckless investing. That’s because anything that causes the megabanks on Wall Street to pull back from lending to one another or to major counterparties – out of fear that the institution has dangerous crypto exposure – could cause the same contagion effect that occurred in 2008 from opaque derivatives and toxic subprime debt exposures. We decided to have a look at the websites and quarterly SEC filings (10-Qs) made by the megabanks on Wall Street, the ones that since the repeal of the Glass-Steagall Act in … Continue reading →
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After Crypto Money Piled into Campaign Coffers of Senators Lummis and Gillibrand, They Introduced a Sweetheart Legislative Bill for Crypto
By Pam Martens and Russ Martens: June 20 , 2022 ~ On June 7, Senator Kirsten Gillibrand, a Democrat from New York who sits on the Senate Agriculture Committee which oversees commodities, and Senator Cynthia Lummis, a Republican from Wyoming who sits on the Senate Banking Committee which oversees Wall Street and trading, introduced a bill as an early Christmas present to the crypto industry. It carries the Alice in Wonderland title of the Responsible Financial Innovation Act. In reality, it is an irresponsible piece of legislation whose sponsorship by these two women only makes sense when you understand that their campaign coffers are being stuffed with money from the crypto industry. Let’s start with Lummis. A $5800 donation is not a big deal to every member of Congress. But it is a big deal to a Senator from Wyoming, a state whose population is less than 600,000. According to data … Continue reading →...
Pam Martens and Russ Martens: June 17, 2022
~ Crypto pushers hired themselves Trump’s outgoing SEC Chairman, Jay Clayton; a boatload of celebrities like Matt Damon (see his commercial below), LeBron James, Spike Lee, Tom Brady, Alec Baldwin, among numerous others; and high-priced lobbyists to sway Congress and state legislatures to back off any regulatory push. Crypto even slapped its name on sports stadiums and arenas – similar to Enron and Citigroup just before they blew up from specious business models. Like any other pump and dump scheme, crypto mania worked for a while. Insiders grabbed their windfall profits early and left the unsophisticated with the losses. Now crypto concerns are hiring themselves the likes of Big Law firm Akin Gumpto explain why investors can’t get access to $11 billion in frozen accounts at Celsius Network. The warnings have been out there for years now from experts in the … Continue reading :{→:(style="background:transparent;border:0px;margin:0px;padding:0px;vertical-align:baseline"):}: