MARCH 29, 2012 3:50AM

Congress & Obama to Pass Phony JOBS Act

Rate: 13 Flag

It is called the “Jump-Start Our Business Startup Act”, and according to Joseph Kishore of wsws the awkward terminology to form the acronym J-O-B-S “was the only nod the framers gave toward actual job creation. In reality, it is simply another corporate handout.” It reduces regulations on new businesses, which should inspire massive distrust in our citizen-betrayed hearts!

Is there no end to the shamelessness of our pimped out politicians?

Tuesday the House OVERWHELMINGLY passed it (380-41). The Senate already substantially passed it (73-26). Obama will soon sign off on it. Of course he will. And he will SPIN SPIN SPIN what a gift it is to the drowning American worker.

He should be executive-ordering a WPA-type jobs bill. But once again he is amorally and pragmatically talking the pro-citizenry talk and walking the pro-corporatists’ walk! I mean, if Congress is bi-partisanly and easily behind it, as well as Obama, and the echo-chamber media is cheerleading it onward, we all should know damn well enough by this time to look for the lobbyists’ Guccis beneath the curtain!

This “Trojan horse” jobs bill is more “trickle down” economics bullshit, another huge gift to the FAT CATS, and, again, we should know what exactly will be trickling down from them upon us. Not jobs nor opportunities.

Kishore explains:

Millions of people have been out of work for months and even years. Whatever jobs are available pay poverty-level wages. Thanks to the Obama administration, the profits of US corporations are at record highs. And behind the thin smokescreen of its “jobs” measures, the American political establishment is preparing the more serious task of launching a renewed assault on health care, pensions and social programs.

snip

The JOBS Act is ostensibly targeted at small businesses, but it will in fact eliminate Securities and Exchange Commission reporting requirements for new companies with up to $1 billion in annual revenues. Consumer advocacy groups and some investor organizations warned that the main impact of the bill will be to facilitate financial fraud.

Another measure would make it easier for new companies to release ads to solicit investors, which consumer groups warned was an invitation to fraud and deceit.

Consider who is against the bill:

The North American Securities Administrators Association, which represents securities regulators at the state level, warned of the potential consequences. “In 2004, the Bush Administration preempted numerous state consumer financial protection laws in order to facilitate greater ‘financial innovation,’ especially in mortgage lending,” said NASAA president Jack Herstein. “Most of us remember how that experiment ended, but it seems that Congress has already forgotten.”

Herstein added that the bill creates “new jobs for promoters of Internet investment scams.”

The AARP released a statement warning about the impact on retirees and pensions. “We do not believe that weakening investor protections and opening the door to fraud is the best way to create jobs,” commented senior vice president Joyce Rogers.

As for the vulture venture capitalists, THEY ARE THRILLED! Kishore:

The bill has, on the other hand, won plaudits from venture capital corporations and groups. “The JOBS Act will help revitalize an IPO market that has suffered in recent years under the weight of market volatility and one-size-fits-all regulation,” said Paul Maeder, chair of the National Venture Capital Association. “The passage of this legislation sends a strong and welcome signal to our most promising companies that the US capital market system is open for business.”

The Deal Pipeline, a pro-industry web site, commented that “there is finally some good news from Washington for the private equity industry and in particular its portfolio companies.” Private equity portfolio companies—Carlyle, Blackstone, and Mitt Romney’s former firm Bain Capital, among others—are those that specialize in making billions through the insider dealing and skullduggery that goes by the name of the “capital market.”

Remember that Orwellian group of CEOs Obama organized and anointed his jobs council last year? Kishore explains:

The act is in fact modeled off of proposals from Obama’s equally misnamed “jobs council,” and follows lines laid out in the president’s State of the Union address earlier this year.

snip

Even according data gathered by supporters, the bill “might” lead to an increase of about 100,000 jobs over 8 years or so. This compares to a jobs deficit of about 5 million relative to the number of jobs in the US in December 2007, before the official start of the recession.

snip

That such a bill can be packaged as a “jobs” measure is testament to the putrefaction of the American media and political system.

Yeah, community-organizer Obama who likes to boast of bringing everything to the table. Everything and anything that comes from the privileged 1%!


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Considering the consistent behavior of all three branches of government why is this a surprise?
I almost wish there was more to him. It is so much easier to point out the evil of someone who actually has a master plan of "evil" rather than just being another political yard dog licking up the scraps and barking his master's tune. The tired answer from "The People" will be, "so what's new?'- We won't be safe from the power brokers until we stop sending our power to them to distribute as they find most profitable.
Let’s see…it’s Thursday morning; I’m checking out OS before leaving for the golf course; Libby has posted a blog castigating Barack Obama…

…yep, everything is in order.

I wonder what the solution will be this week.

Probably gonna still be “Elect Jill Stein…she will end war; bring peace to the planet; insure safe, inexpensive green energy, and finally end the disparity between the rich and the poor.”

Oh, somewhere in this favored land the sun is shining bright;
The band is playing somewhere, and somewhere hearts are light,
And somewhere men are laughing, and somewhere children shout;…
Jan, I know I shouldn't be surprised, but the corruption, the capture of the 3-branch political and the media system is so profound and despite the horrendous symptoms of the economic collapse of this country, 5 million out of work back at the end of 2007 how many out of work now, there is STILL NO MERCY, not even SERIOUS crumbs, and no serious efforts to recover, only more bullshit kabuki with Obama playing as Glen Ford declares the "front man for oligarchs" and worse, more shenanigans of fraud, and the despicable rabid rat bastard political cronies of the oligarchs talk further austerity oppressing the citizenry, more economic raping of pensions and more jobs outsourced, and wait for it, even fewer regulations, even less power of the SEC, over businesses. Credit default swaps still continuing. Dodd Frank bill has no teeth but the oligarchs resent whatever weak power it may manage to assert.

Way back when when Clinton signed off on getting rid of Glass Steagall, the Dems were enmeshed in the one percent class war on the bottom 99% citizenry. Nader was so right saying the two corporate legacy parties were ruining the country in 2000. IT WAS A BIG CON!!!!

If we are going down, I want those drowning with me to be awake enough to know that our heart of darkness saboteurs were very much from BOTH sides of the aisle and the WH and the SCOTUS. It is bipartisanly unanimous! Geeeeez Louissssse! But, denial ain't just a river in Egypt. best, libby
Rudy, yeah, I call out Obama as the "American Judas" but he is just a slick second string political hack playing grand puppet for the overlords.

Judas turned from a higher self. Judas had regret. I guess the "brand" of Obama has mythic Judas proportions. Obama strikes me as a sad and shallow servicer of oligarchy. As time goes by one looks back and sees how Obama wasn't the first super sell out Dem.

I shouldn't blame him as much as I should blame the millions who refuse to come out of the fog of denial and are willing to reward him with a second term, whining that he is the lesser of two evils or who else do we have, must choose from column a or column b ... duhhh ... instead of building a healthier movement and fighting for the constitution and democracy and justice. Sitting back and offering perfectionistic commentary about the OWS movement or a third party movement when they should be joining up and committing to them. Why won't the Dems move left? Because no one, or not enough, are seriously threatening them at the polls.

The 5 stages of grief should be over by now. Again, incredible that lesser evilism delusion may re-elect and reward Obama. The capture of America, fast hardening of soft fascism, is profound. The blindness of most of its victims dismaying.

The crumbs from Obama get tinier and tinier. Smoke and mirrors. The crumbs of Obamacare. The crumbs of this jobs bill.

But, hey, who is up for another game of Lucy and the football????

best, libby
The crushing of the OWS movement is in full swing and in France as in several theocratic fascist regimes the movement is to jail even visitors to internet sites who might be interested in opinions other than that approved by the government. The clampdown will be total in a short interim. And people like Frank Apisa (such an appropriate name) go out and play golf while the iron lid closes. I have a hunch an explosion is due.
Youuu guyyyys!! You're sooo hard on the Prez!! Demanding immediate jobs from an executive order/ WPA program??? Who do you think you're dealing with- FDR?? I mean it is an election year and gas is $4.35 a gallon here in SoCal!!
we need to concentrate more on economic justice, unions, and less on cultural pet projects
Self-awareness is one thing Obama will never be accused of.

Corporate worship is the true religion of the masses.
S H - T. When are the real workers going to be heard? Instead of weakening investor protections, we should be re-instituting & strengthening labor union protections, and replacing the anti-trust laws. No capitalism here--corporatocracy only.
OBAMA HEARTS CORPORATE CEOS!!! This was from a blog I did about Obama's faux-jobs summit last year. Barry Grey was the reporter, again from wsws:

http://open.salon.com/blog/libbyliberalnyc/2012/01/24/faux-jobs-summit_6-13-11_obama_hearts_corporate_ceos

"So what is Obama doing? Reassuring the private sector fat cats that they are safe from regulation and that massive cuts to social spending is the way his regime will go.

"Barry Grey’s attendance list for the summit:

That group included the CEOs of GE, Intel, Xerox, American Express, Southwest Airlines, DuPont, Eastman Kodak, Comcast, Facebook, and the banking giants Citigroup and UBS. It also included Obama’s longtime financial backer Penny Pritzker, a multi-millionaire Chicago real estate mogul, and Joseph T. Hansen, president of the United Food and Commercial Workers Union. Richard Trumka, president of the AFL-CIO, who is also on the council, did not attend the event.

"Grey reports that Obama fawned: “I cannot think of a better group of people to help us tackle it [how to create jobs] than those who are sitting around this table.”

"Apparently at their first meeting in March the very same CEOs and bankers demanded reductions on business regulations from Obama. Obsequious Obama to them this past Monday: “I took this very much to heart. So what we’ve done is to initiate a full-scale review not just of spending regulations, but actually looking back for the first time at all existing regulations.”

"I’m thinking it is more than a little obvious Obama doesn’t care about jobs or the lack thereof for the citizenry, but is very, very, very busy securing support for the continuation of his own job come 2012 and for other prospects thereafter.

"Obama concluded, “As Jeff [Immelt] said, ultimately job growth is going to be driven by the private sector.”

"Time, sadly, for Robert Reich to give it up. His appeals to Obama for WPA- or CCC-type programs to rescue the American worker. The Obama cabal just doesn’t give a proverbial shit about the citizenry.

"And speaking of Jeff Immelt, Grey reveals:

"Council Chairman Immelt’s company, GE, is a case in point. It made a profit of $14.1 billion in 2010, and yet it paid no federal taxes. On the contrary, the government paid it $3.2 billion in tax credits.

'Immelt himself saw his compensation double to $15 million. Meanwhile, GE earlier this year sought to impose a 25 percent pay cut on new-hires at its River Works plant in Lynn, Massachusetts as the price for keeping a section of the complex open. When the workers balked, GE finalized the facility’s closure.

"Grey contends that when a shameless Obama met with LED factory workers in Durham, where the meeting took place, he proudly asserted that a new engineer-training program was to be launched for 10,000 citizens each year. To Mr. Grey the fact that nearly 14 million are unemployed made this grandstanding over such a comparatively modest number downright insulting.

"Obama also boasted of a proposal to bring together community colleges and companies for high level training programs. Grey points out such hypocrisy during this time when Obama’s regime is assaulting public schools and its teachers. ..."
Jan, it is chilling to hear how the gloves are coming off now like your story with dissenters in France! Not that they weren't off with the Gestapo roughing up and arrests shutting down OWS occupations already. But in fascist America the police and military are more and more cronied up with the corporatists of course.

The authoritarianism of the military and police makes those working segments of society useful pawns to be turned on their fellow workers. Heart-breaking. Remember in Wisconsin when the cops refused to go after their brethren for Walker?

When I read about this Jobs Act and the Orwellian naming of it and once again it was the "trickle down" lie, it shows how they aren't even pretending all that hard anymore, the pols. They really do insult us.

And the media will just continue with their blathering, as stenographer for the bullshit. And Charlie Rose will have on guests on message for continued economic screwing of America and for further corporate warring.

Last night watching Frontline I swear there was a "we are wonderful Goldman Sachs" commercial. Say what? All that money in the campaign coffers there is a gonna be an avalanche of election psy-ops brain-washing coming down on us in the hopes we don't notice how unemployed, underemployed, underpaid, underinsured we are!!!

Obama to America "Look How Hard I'm Trying" .... remember the book, Games People Play? best, libby
It's all poppycock to deceive the shrinking middle class into thinking there is "fairness." Blah blah blah. As usual Harry nailed it, Obama and millions are not self aware. Yet.

My aunt raised three girls as a grocery clerk because she was a union worker. All work was valued as being worth decent pay. That world is gone. By law no employer has to give you more than minimum wage no matter what you have to offer. It's all supply and demand, there are too many workers who have no choice but to work for less. The only truly enforceable worker protection in law is minimum wage. A reality millions have yet to comprehend.

The long time poor are used to living with ongoing suffering. They're used to brutal lives in miserable jobs and their children grow up in hopelessness. Millions have had it very easy, they've never experienced hunger or watching their children suffer or die needlessly. They spend their lives in luxury though they don't know it. Going to the doctor just because you're injured or buying excess shoes and decent cars are luxuries.

There will be no change until a large enough percentage of the middle class sinks into basic subsistance. There just isn't enough personal suffering yet but it will come. There's no way to know what the tipping point will be. Investors will lose their shirts and that's how it is, Those that lose everything will just have to figure out how to survive like everyone else. Nothing wakes you up like personal suffering. At some point the survival instinct will kick in and predators in the herd will be seen as what they are.

Jan is right, there will be blood in the streets. My money is on the right wingers who enjoyed luxuries like medical care and malls being the ones to explode into violence first. They are reactive and will not be as docile about the equality provided by minimum wage. I try not to think about what is coming and that they will misplace their anger on the downtrodden. I pray they turn against the true predators.

Excellent post, keep writing, the wake up will come and the target needs to be clear.
toritto, we thought we had hit bottom with Bush Caligula, and there was no place to go but up when Obama entered stage LEFT, metaphorically speaking. But he hasn't stopped crossing the stage going more and more right. Caligula in Marc Antony clothing!!!!

Style not substance consumer America is being fed such propaganda as the rabid rat bastards (and seemingly almost ALL the pols are colluding as self-aggrandizing, avaricious, opportunist one percenters, against the citizenry, securing their own jobs as well as enjoying ONLY THEIR taxpayer paid lifetime for them and their families rolls royce health care plans) as I keep saying are pimped out to the corporatists who want short term OBSCENE profits and to hell with the bottom line health of their corporations because they are really demoralizing what work force they are turning into slave labor and karma will be a b*tch as well as idiot work practices. And then the sharks start to go after each other. They are soul-sick addicts and we are their coaddicts being dragged to deeper and deeper depths of their destruction.

Hey, toritto, I hope our generation, more and more of us, at least can help start to turn the pendulum back the other way for humanity. We have to work together now as a global family of the bottom 99% (isn't that ironic), not just a country, the way the environmental movement has been working together internationally.

The patriarchy of power and control and winner take all competition needs to be replaced with a humanist paradigm of partnership and cooperation before they literally destroy the planet so the descendants of all of us won't even have a shot at any existence!

best, libby
jmac, I know, I know. Poor Obama. tch tch.

Obama is very adept at spinning and spinning and spinning and righteously pretending that the Republicans are combatting any efforts when as President there are things he could do, and the Dems could do. But they are SOOOOO captured.. The dude, Barack, had 80 million citizens who had his back so he could turn the d*mn ship of state around after the Bush nightmare years of horrifying corruption.

And Obama plays "I'm doing the best I can, can't you see?" And he has the slick sophisticates at MSNBC now at his back, apologists for his economic sabotage and his corporate-backed military genocides.

Obama's playbook. Give 'em crumbs and pretend those crumbs are so much more than they are. Meanwhile he has given the entire bakery over to the rabid rat corporatists. But the media will cover for all of them, and pretend as they do in big-time wrestling (such an apt comparison I have heard more and more) that there really is a struggle between sides. No serious struggle even between evil and lesser evil. It's all evil. It's kabuki to seduce citizens for continuing devastation by corporate monsters.

Too bad our first black President has given history his technical blackness without any championing of the disenfranchised, which ranks are growing into millions and millions. His "brand" inspired and was used to confuse and stall citizen awareness and dissent, so useful to the continued dismantling of the American republic by the real bastard masters of the universe.

The price of gas. The price of health care. The price of ... etc. the surreality is off the charts, inspiring hysteria, except to the gated-community 1% working on making themselves the .01% and then later the .001%.

best, libby
Kathy, thanks for commenting!

economic justice and unions!!! Absolutely. There was such a good job done getting the right hysterical about the danger of "socialism" and "big government" that FASCISM has marched easily through the door.

A LIVING WAGE. Now there is the place to start, but Obama's slick faux-heroics with the auto industry REALLY is to slash worker pay and conditions and expectations of any entitlements (a/k/a human rights) with the "sky is falling hysteria" -- convincing people they should eat sh*t and smile if they are lucky enough to get to join a corporate dictatorial sweat shop!

Our union leadership, those at the top with the big pay, has cronied up just like the pols have with the privileged class. There is no end to the dishonorable betrayal of the citizens who expected representation. I wonder if the betrayers even get the scope and even nature of their betrayal?

best, libby
Harry, you got that right on both counts. Obama's lack of self-awareness. Dear God, his handlers aren't even having him throw out serious crumbs to us, he never has really. After the campaign, even the promises dwindled.

Corporate worship. You got that right. I blame the media. From the high priestess Oprah on down. Does she know what she enabled or care I often wonder by the way, or when you are richer than God how can you empathize, even though that was the supposed message of her show for so many years. But that is a pet peeve tangent of mine!

We've been conned by corporate propaganda for decades and decades. Our citizen karma now to experience first hand more and more what these psychopathic corporations have been doing globally. It was only a matter of time until they began to squeeze the home base nation out of basic survival mode. LIFE IS SO CHEAP TO THEM. OUR LIVES. ANY LIVES OUTSIDE THE GOLDEN 1% COMMUNITY.

"Evil" is "live" spelled backwards.

The teebee consumer-identity over citizen-identity ministry is so colossally and subliminally powerful and saturates the viewers with the ferocious will of the perpetrators. Stockholm Syndrome on STEROIDS. Advertising has been lying to us for years. Madison Ave. and Wall Street and K Street are really working flawlessly and evilly together!!!

best, libby
gracious jane, thanks for your comment. It is all so horrifying with no turnaround in sight it would seem, since we are supposed to settle for what is happening as the LESSER evil???? DEAR GOD!!! There was that Canadian documentary years ago that predicted and acknowledged this. THE CORPORATION. It laid out how the personality profile of the legal person of the corporation was that of a "psychopath" and psychopaths have absolutely no conscience and will do ANYTHING for their own self-aggrandizement. Profits over people? Of course.

The prison privatization is a really sub, sub-basement of evil. And the overturning of the basic rule of law and decency. overturning habeas corpus so cavalierly!!!! WTF????

Re prison overpopulation in America, extra cruel when you consider wealthy white collar white patriarchal cronies (for the most part white and male) are not accountable for ANY DOWN AND DIRTINESS, FOR MASS FRAUD AND THEFT, to either legacy party, but open season on anyone else to be thrown in jail and prison or disappeared detention. The War on Empathy is on steroids.

The proliferation of prisoners for profit. Immigrants. Dissenters. Non-violent drug criminals who need rehab more than incarceration. Remember in PA when blood-sucking judges (more than one?) were sending juveniles with mild rebelliousness to detention centers for kickbacks? You can't make this stuff up it is so vile.

Jane, facing down evil is hard. It is sickening. It takes spiritual strength and requires some degree of hope, to take on evil and explore it. Even to acknowledge it makes one physically nauseous. Especially the scope of it in this day and age.

The face of psychopathology whether in a person or corporation is so slick, so smooth, so willing to lie. It seduces with "trust me".

There are so many fronts. So many fresh hells. We need to organize as a global family against the profiteers. The belief in the sanctity of human life has been so insulted to say the least. We must not let them infect us with that incredible amorality. We have been goose-stepping by the homeless for years now especially after Reagan took away a social net to help them. We have got to stand up for empathy. To demand empathy.

Accepting "lesser evilism" is NOT STANDING UP FOR ANYTHING! It is "settling". American "settlers" contribute to the dead weight of the problem in America. Edmund Burke's "when good people do nothing" message.

again, thanks! best, libby
Thanks, Peter, for the continued support!!! We gotta keep up the consciousness raising!

C-Berg, that was my response to this latest insult exactly!!! WTF???

Everyone knows what happened to our economy. Deregulation. And now they are deregulating EVEN MORE???? How obnoxiously evil can they get? How stupid do they think we are?

It is sobering and dispiriting the degree of their audacity, because they have us so hog-tied, they don't care seriously if we get it or not, we are so helpless financially compared to them. And they trust that we will never get it together enough, organized enough, to say NO!!!!!!! TO DEMAND OUR REPUBLIC AND ITS LAWS BE GIVEN BACK!

best, libby
Bleue!!! Great to see you.

Yes "fairness" has been thrown out the window long ago, and yet I still feel myself getting re-shocked!!! And yes, the lack of awareness among too many so late in the evil game is daunting.

Where did empathy go? We thought after the nightmare Bush years a young and vital "hope"-talking leader could help the ship of state get turned around and back on moral keel. NOT TO BE!!!

People are not asking for more than they are willing to decently work for. But the greed addiction is so out of control. And the oath-taking guardians of our government, and I admit, I had no idea that they had almost all gone over to the dark side. I was focusing on rabid rat bastards like Cheney and Bush and Rove, but they were not all that unique in a culture of rampant amorality and mendacity.

Bleue, it really galls me when I think of the tremendous fights that were waged in American history to give us the justice we have enjoyed and how cavalierly and evilly (evil, I keep having to use that word) all those hard-won victories are being now tossed!!!!

Bleue you speak of it all so poignantly and realistically:

"The long time poor are used to living with ongoing suffering. They're used to brutal lives in miserable jobs and their children grow up in hopelessness."

And then this about the cluelessness of way too many:

"Millions have had it very easy, they've never experienced hunger or watching their children suffer or die needlessly. They spend their lives in luxury though they don't know it. Going to the doctor just because you're injured or buying excess shoes and decent cars are luxuries."

Where is the tipping point? And when tipping points happen, how strong and EVIL but effective will the media counter-offensives as well as the political and thus police and military ones be?

I think the right wing have got to exit their denial and work with the left and not so left wing, I agree, who will be slower to get it, since as I have said, they are still denying the "date-raping" of America by Obama.

I agree with this wise statement: "I try not to think about what is coming and that they will misplace their anger on the downtrodden. I pray they turn against the true predators."

Thanks for your comment, Bleue. To God's and comatose America's ears! best, libby xxxx
Am I supposed to be surprised by anything on this list Libby??
Because the answer is no.
Obama is in full swing election mode.
And taking money hand over fist.
The bill is coming due....
My understanding is that the whole idea of a recession/depression is to reduce wages when corporate CEOs feel their corporate profits are flagging. Eventually the wages fall sufficiently and voila, the recession ends and companies start hiring again.