Also: McConnell checks into rehab; DeSantis flip-flops on Ukraine; NM expands right to vote...
By Brad Friedman on 3/14/2023, 5:30pm PT
On today's BradCast: If lying to Americans about crime failed to result in a "red wave" for Republicans in 2022, perhaps lying to them about "woke" banks will do the trick in 2024! I'm sure it'll work. [Audio link to full show is posted below this summary.]
Among the many stories and important context offered on today's program...
- Moody's considers downgrading the U.S. banking sector in the wake of several bank failures in recent days, even while declaring that the industry's outlook remains strong.
- Inflation has eased slightly over the past month, according to the U.S. Bureau of Labor Statistics. Wall Street rejoices.
- Elizabeth Warren, as usual, was right when she warned in 2018 that rolling back the Dodd-Frank Act (enacted to prevent bank failures after the 2008 banking crisis) to loosen regulations and oversight of banks like Silicon Valley Bank and Signature Bank would end in disaster. As she noted at the time, before Donald Trump signed the bill to loosen restrictions on financial institutions: "Washington is about to make it easier for the banks to run up risk, make it easier to put our constituents at risk, make it easier to put American families in danger, just so the C.E.O.s of these banks can get a new corporate jet and add another floor to their new corporate headquarters." As usual, we should have heeded her warning.
- Today we explain exactly happened that resulted in the failure and subsequent federal takeover of SVB and Signature by the FDIC, in case it hasn't yet been made clear. And, while the unnecessary failures stem directly from loosening government oversight and restrictions on banks to gamble with depositer funds, as allowed by Congress and Trump in 2018, what didn't cause it, is "wokeness." That's the explanation from Fox "News" over the past few days for what happened.
- The cause of the bank failures was also not ESG (Environmental Social Governance) or DEI (Diversity, Equity and Inclusion, as Fox itself boasts about on its own company's website) or CRT or LGBTQ or anything else that Fox and Ron DeSantis are lying about to Americans about.
- But what does appear to be true, when it comes to the latest Fox/DeSantis boogeyman of "woke", is that Americans have no problem with being "informed, educated on, and aware of social injustice," the definition of "woke" according to most Americans in a new USA Today/Ipsos poll. The same survey also finds Americans overwhelmingly (75% to 21%) in opposition of book banning by state's such as DeSantis' Florida.
- 81-year old Republican minority Senate Leader Mitch McConnell has now been released from the hospital after suffering a concussion from a fall last week. But he has checked into inpatient rehab for some reason. We truly hope he will be okay, if only because he may now be the only thing still holding together Congressional GOP support for Ukraine in its war against imperialistic invading Russia.
- As we learned on Monday night via Tucker Carlson on Fox, DeSantis is now against supporting Ukraine in what he now describes as a "territorial dispute" with Russia, the authoritarian-led nation that has invaded it. As it turns out, DeSantis, while a member of Congress, was strongly in favor of the U.S. supporting Ukraine with lethal aide against Putin. That was before he became a contender for the 2024 GOP Presidential nomination and decided to be against it. The survival of democracy in Europe is, apparently, no longer important for either of the GOP's two 2024 front-runners. Donald Trump has said his "peace plan" is to allow Russia to "take over" parts of Ukraine.
- But some good news for democracy out of New Mexico, where the state legislature finally passed a voting rights bill on Monday that will expand the franchise to all residents who are now out of prison; strengthen access to the ballot for Native Americans; make Election Day a state holiday; and significantly strengthen the state's automatic voter registration program.
- Finally, Desi Doyen joins us for our latest Green News Report. Among our stories: The Biden Administration's approval of controversial new oil drilling projects in Alaska, even while banning future such operations in Alaska and the Arctic Sea at the same time; Mack Truck introduces another electrified model; and Tropical Storm Freddy smashes all-time records in the Indian Ocean...
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