Friday, September 16, 2011

Bloomberg warns of riots … Is he actually encouraging “US Days of Rage” riots in NYC tomorrow?

Matt Drudge’s red and bold headline screams about Mayor Bloomberg’s prediction of civil insurrection by disaffected youth against the government.  But is Bloomberg actually encouraging, rather than predicting, disruptive behavior on the eve of the US Days of Rage protest led by former SEIU official Stephen Lerner?  Surely the mayor is aware of Lerner’s plan and background. 

The US Days of Rage is scheduled as a “nonviolent” protest outside the JP Morgan Chase headquarters
 tomorrow, Saturday, September 17.  It has been organized by Lerner, a far leftist, to bring down Wall Street and the banks and ultimately collapse the economic system of the US.  Lerner has been an acolyte of Andy Stern who resigned the presidency of the SEIU in March, 2010.  Lerner left the union seven months later.  Neither the Days of Rage nor Lerner’s incendiary speech at Pace University in March (see below) have been reported by the legacy media.  Only The Blaze (Glen Beck) and Fox News have given it coverage.

Lerner’s March 19 speech at Pace University is a call to destroy the capitalist system (audio and text from the Blaze here).  The initial plan was to mob the JP Morgan Chase shareholders meeting in May to demand social justice.  That failed because the meeting in Columbus Ohio was held at a motel surrounded by a moat.  The intended tactics there and presumably Saturday are to encourage mortgagees and student loan recipients to withhold payment to force JP Morgan to renegotiate or eliminate their loans.  Cities would follow with the same tactics, forced by the unions under the threat of a strike, to blackjack JP Morgan to write down municipal debt and free up funds for union employee wages.  From the Blaze:

And so the question would be, what would happen if we organized homeowners in mass to do a mortgage strike. Just say if we get, and, and, if we get half a million people to agree, we’ll all not, we’ll agree we won’t pay our mortgages, it would literally cause a new financial crisis.

There are four things we can do that could really upset Wall Street. One is if city and state and other government entities demanded to renegotiate their debt because they’re paying too much interest. And you might say, well why would the banks ever do it? Because they, the cities and counties could say we won’t do this and this in the future with you if you don’t renegotiate the debt now. Meaning, about a third of bank profits generate from dealing with cities and states. So we could leverage the power we have of government to say we won’t do business with you, JP Morgan Chase, anymore unless you do two things: you reduce the price of our interest, since your interest rate is down; and second, you rewrite the mortgages for everybody in the community so they can stay in their homes. We, we could make them do that.

The second thing is there’s a whole question in New York now about austerity and student’s rates and the question of the debt structure. What would happen if students said we’re not going to pay? It’s a trillion dollars. Think about your …sweeping that debt, a trillion dollars from students debt?

There’s a third thing that we could think about, what about if public employee unions, instead of them being on the defensive, put on the collective bargaining table when they negotiate they said we demand as a condition of negotiation that the government renegotiate, we want, we believe in good financial management. It’s crazy that you’re paying too much interest to your buddy the bankers. It’s a strike issue for us. We will strike unless you force the banks to relieve the debt of the city. I’m not going to go through all the detail except to say there’s extraordinary things we could do and if you add on top of that, if we really thought about moving to the kind of disruption in Madison, but moving that to Wall Street and moving that to other cities around the country where we basically said you stole $17 trillion, you’ve impoverished us and we’re going to make it impossible for, for you to operate.

Lerner continues

The folks that control this country care about one thing: how the stock market does; how the bond market does; and what their bonus is. So I think we weed out a very simple strategy: how do we bring down the stock market, how do we bring down their bonuses, how do we interfere with their ability to, to be rich. And if we don’t do, and that means you have to politically isolate them, economically isolate them and disrupt them. So, it’s not all theory, I’ll do a pitch.

So, a bunch of us around the country are thinking about who would be a really good company to hate? We decided that would be JP Morgan Chase.

Lerner’s use of the term “Days of Rage”, the Weatherman inspired riots in Chicago in1969, does not appear to be a call for a peaceful protest.  Lerner, reportedly has been a guest at the White House on 4 occasions, two of them more than ceremonial functions.  Keeping company with folks like that throws a bad light its current occupants.

No comments: