money power and wall street

United States Declares War on Germany

April 6 1917, Washington–After Wilson’s speech on April 2, both houses of Congress voted on the declaration of war against Germany.  In the Senate, where the Armed Ships Bill had died in the previous Congress, La Follette was only able to put off a vote by one day.  Ultimately, only 6 senators (fewer than had filibustered the Armed Ships Bill) would vote against war on April 4, though the few opponents made themselves known.  Senator Norris of Nebraska, although a Republican, would take a very Bryan-esque tone: “We are going into war upon the command of gold….We are about to put the dollar sign upon the American flag.”  Senator Williams of Mississippi retorted by saying “Wall Street and the money power of the capitalists did not sink the Lusitania.”

The House debated the war the next day; here, the vote would be closer, if still lopsided.  This was due in part to the fact that the Majority Leader, Democrat Claude Kitchin, came out at the last minute against the war:

This nation is the last hope of peace on earth, good will toward men.  I am unwilling for my country to…extinguish during the long night of a world-wide war the only remaining star of hope for Christendom….All the demons of humanity will be let loose for a rampage throughout the world….I shall always believe that we could and ought to have kept out of this war.

Also voting no was Jeannette Rankin, the first woman in Congress, who used her first speech in the House to stand against the war.  Ultimately, the declaration of war would pass by a margin of 373-50 in the wee hours of April 6.  The opponents came from both parties, representing all sorts of constituencies, though two-thirds were from the Midwest.

Despite the lop-sided nature of the vote, it was unclear how much popular support the war had among the American people; in fact, many House members stated that they were voting for the war despite the wishes of their constituents.

At 1:18 PM on April 6, President Wilson signed the resolution declaring that “the state of war…which has thus been thrust upon the United States, is hereby formally declared.”

Today in 1916: Portuguese Forces Cross into German East Africa
Today in 1915:  New German Force Counterattacks in Carpathians

Sources include: Michael Kazin, War Against War.

onyourleftbooob  asked:

If this hasn't been reced yet, archiveofourown*org/works/8999029/chapters/20549662 it was recently completed and it's so good™


For Who I’ve Not Yet Become by Kellyscams

Bucky Barnes – powerful Wall Street tycoon – has everything he needs. Money, good looks, a life in the fast lane. He’s living on top of the world in a Park Avenue Penthouse in Manhattan, is the youngest vice president ever over at Stark Industries and might even be named Forbes Man of the Year – again. Nothing can bring him down.

That is until Bucky has a strange encounter with a young man named Eli on Christmas Eve and wakes up Christmas morning married to his old college sweetheart, Steve Rogers.

With his entire world turned upside down, Bucky must find a way to navigate his way through marriage and fatherhood and suburbia. And maybe find the unique answer to the age old question… What if…?

Barack Obama draws criticism for $400,000 Wall Street speech fee

Barack Obama has drawn criticism for accepting an invitation to speak at a Wall Street conference for almost half a million dollars.

The former President will receive $400,000, equal to his annual pay as President, for a speech at Cantor Fitzgerald’s healthcare conference as a keynote speaker in September.

Mr Obama’s fee is nearly twice as much as Hillary Clinton has charged private companies for similar events.

The former President, who called bank CEO’s “fat cats” in the opening weeks of his administration, has come under fire for the Wall Street speech since reports first emerged earlier in the week.

Bernie Sanders has said he thinks it is “unfortunate” Mr Obama opted to receive the fee and argued the decision signifies the profound influence big business has on the political system.

“I think it just speaks to the power of Wall Street and the influence of big money in the political process,” the Democrat Vermont senator told Bloomberg.

“I think it’s unfortunate. President Obama is now a private citizen and he can do anything he wants to but I think it’s unfortunate. You have the former president of Goldman Sachs is now the chief financial advisor for President Trump, and then you have this, so I think it’s unfortunate”.

Senator Elizabeth Warren has also expressed her reservations, saying she was “troubled by” the speaking fee.

“I was troubled by that,” Warren said on SiriusXM’s Alter Family Politics during an appearance to promote her new book.

“One of the things I talk about in the book is the influence of money. I describe it as a snake that slithers through Washington. And that it shows up in so many different ways here in Washington.”

Meghan McCain, a Fox News host, went a step further and called Mr Obama a “dirty capitalist” for agreeing to speak at the investment firm.

“The great irony is that Saint Obama, who is supposed to representing everything that is good and utopian on the left, is actually a dirty capitalist like the rest of us,” McCain, who is the daughter of Republican Senator John McCain, said.

While Mr Obama is said to have signed a contract for the event, the company is reported to be waiting to finalise arrangements with the Chicago native before making a formal announcement.

Eric Schultz, senior advisor to President Obama, defended the President in a statement sent earlier in the week and challenged the notion hefty speaking fees compromise the former President’s principles.

“As we announced months ago, President Obama will deliver speeches from time to time,” he told The Independent. “Some of those speeches will be paid, some will be unpaid, and regardless of venue or sponsor, President Obama will be true to his values, his vision, and his record.

“He recently accepted an invitation to speak at a health care conference in September, because, as a President who successfully passed health insurance reform, it’s an issue of great importance to him. With regard to this or any speech involving Wall Street sponsors, I’d just point out that in 2008, Barack Obama raised more money from Wall Street than any candidate in history – and still went on to successfully pass and implement the toughest reforms on Wall Street since FDR.

“And while he’ll continue to give speeches from time to time, he’ll spend most of his time writing his book and, as he said in Chicago this week, focusing his post-presidency work on training and elevating a new generation of political leaders in America.”

Mr Obama, who left the White House almost 100 days ago, took to the stage in Chicago for his first public appearance since Donald Trump’s inauguration on Monday. Returning to the city he launched his political career in, he revealed his first post-White House project would focus on urging the next generation to become more politicised and civically engaged.

Watch on

The Financial Crisis Is Like… Sangria?

Well, it’s like a lot of things, according to some of the economists, journalists, bankers and officials FRONTLINE interviewed for our four-hour series on the global financial crisis, Money, Power and Wall Street.

After hearing a number of different metaphors, FRONTLINE editors Ben Gold and Jim Ferguson got creative and made this compilation.