April 9, 2011 - The Political Cesspool - James Edwards
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Welcome to the Political Cesspool, known worldwide as the South's foremost populous radio program.
And here to guide you through the murky waters of the Political Cesspool is your host, James Edwards.
All right, everybody, welcome back to the second hour of tonight's live broadcast of the Political Cesspool Radio Program.
I'm your host, James Edwards.
It's Saturday evening, April 9th, and I am sitting in the studio of our flagship radio station, AM1380 WLRM, in downtown Memphis, Tennessee.
It was a great first hour with Keith Alexander.
If you missed it, go check it out.
We were talking about a bombshell poll result out of Mississippi.
We talked about black legislators in Georgia trying to outlaw white flight, outlaw people moving.
We talked about, well, we gave an update on several civil rights icons of the 21st century.
Where are they now?
The Gina 6, Crystal Magnum, the Duke La Crosse Stripper, Rodney King, and others.
And of course, we made mention of PJB's, Pat Buchanan's great column, Hatred of the South is Hatred of America.
We've got a lot more coming at you this hour.
And then during the third hour and final hour of tonight's show, we're going to be transitioning over into our continued celebration of Confederate History and Heritage.
It is Confederate History Month 2011.
And you are listening to the official radio program of Confederate History Month, the Political Cesspool, broadcasting to the AM FM affiliate stations of the Liberty News Radio Network and simulcasting online at thepolitical cesspool.org and libertynewsradio.com.
Got a special guest here at the top of this hour coming on just long enough to give you the who, what, where, when, and why of an event that is taking place this Monday, just two days from now in Jackson, Mississippi.
It's an event that I want you to be at.
Jared Taylor, the editor of American Renaissance magazine, will be speaking to the Great Southern chapter of the Council of Conservative Citizens in Jackson, Mississippi on Monday, April 11th, beginning at 6.30 p.m.
Again, ladies and gentlemen, Monday, April 11th, 6.30 p.m., meet Jared Taylor at a posh hotel ballroom in Jackson, Mississippi.
This event is open to the public.
Semi-formal attire is required.
I had the opportunity to speak to this chapter at this very hotel in Jackson last summer during my book tour, and it was absolutely one of the finest meetings I have ever attended.
Joining me now on the line is the event organizer and the coordinator of the Jared Taylor speech and meet and greet, Mr. David Hill.
David, welcome back to the show.
Thanks.
Thanks for having me, James.
It's absolutely my pleasure, my friend.
And listen, you have a very robust chapter there of the Council of Conservative Citizens.
Huge crowds turn out.
I know it was one of the biggest meetings I had ever spoken to when I was there last summer.
You spare no expense.
It's a great time of fellowship.
What more?
You can be in Mississippi, and Mississippi ought to be celebrated this week, as you well know.
What more can you tell us?
Well, thanks a lot.
I think you've outset it, but yeah, Monday, April 11th at the Regency Convention Motel.
It's located at 400 Graymont Avenue next to the Coliseum.
Of course, we're opening the doors up at 6.30.
We're having free hors d'oeuvres.
You know, it's like a bunch of Southern Baptists, you know, to meet and greet and eat.
We're pleased to have Jared Taylor to come and speak to us Monday night at the Regency Convention Motel.
Well, folks, there you have it.
I want you to take down pen and paper.
And believe me, if you're considering driving, if you live within driving distance of Jackson and you're thinking about it, but you're like, no, it might be a little awkward.
I'm not going to know anybody.
Hey, dismiss that from your mind right now.
There's not going to be a stranger.
There's no strangers in there's going to be no strangers in that meeting hall.
We have already had a gentleman, a contributor to the political cesspool who's going to be driving from Dallas, Texas over to Jackson, Mississippi to attend this meeting.
So if you're within a couple of hours of Jackson or you live in or around the Jackson area, make plans to be there.
Got on the line now, David Hill, who is the event coordinator.
It's taking place Monday night, April 11th.
Take down pen and paper, folks.
Monday night, April 11th, two days from today, 6.30.
You said the Regency Hotel, David?
Regency Convention Motel.
And that's right next door to the Coliseum there on Graymont Avenue?
That is correct.
Now, if people still are having a hard time finding it or if they need additional information, what's the best way they can get that?
Should they call you, email you?
They can probably email me or they can call me either one on my cell, 601-624-2498.
Let me give that to the people one more time because here in the political CESPAL, as you know, we like to be repetitive, especially when we're getting out the word of a great opportunity for people to come, exchange ideas, engage great minds, and be around normal people for a change.
David Hill, the event coordinator of the Great Southern chapter of the CFCC, hosting Jared Taylor in Jackson, Mississippi, Monday night, April 11th, 6.30.
You need more information, call David 601-624-2498.
601-624-2498.
Again, two days from now.
Meet Jared in Jackson, free or dwarves.
And let me tell you something.
David's putting it modestly.
They put out a spread there, and it's good food, too.
You get good food, great speech, good fellowship, as Keith said.
And it's all free.
It's open to the public, courtesy of David Hill and the Great Southern chapter of the CFCC.
David, anything else you can add to that, my friend?
That's pretty much it.
We thank you for the job that y'all are doing up there.
Love your show.
And once again, thank you.
Thank all of y'all.
Well, we're going to put another announcement up about this event tomorrow on the website.
But folks, there's nothing more I can say that hadn't been said already.
Give David a call.
You have his number.
Be there if you can.
David will be happy to receive you.
David, thanks again for calling in tonight and giving us the particulars.
Thanks, James.
We'll talk to you again soon, my friend.
Looking forward to a great meeting.
All right.
Have a good evening.
David Hill, everybody.
Be in Jackson.
Meet Jared Taylor.
Let's take a quick call.
Jeff in Massachusetts.
We're going up way up into Yankee territory now.
But Jeff's a good man and a regular caller.
Jeff, what can we do for you tonight?
Oh, yes.
As far as the future is concerned, I really believe that with all this nonsense that's going on in this country that you talk about, I mean, at the end of the day, America is going to be separate enclave.
You're going to have a white enclave.
You're going to have a black enclave.
You're going to have a Muslim enclave, a Mexican enclave, and God knows what other enclaves and so forth.
And if you walk into the wrong enclave, you're pretty much screwed, and you will have constant civil war, and the UN will be called in to quell the violence.
The East Coast and the West Coast will pretty much look like the third world, and it will be radioactive and so forth.
And the big cities will probably be radioactive.
And you'll just have people fighting each other and hunting for the last scraps of food.
I mean, the future of this country is pretty bleak.
And if you happen to be an interracial couple, you won't be welcome in any of these enclaves.
I mean, that's scary.
I don't want to see that kind of future happen.
I mean, I like the Americas, they like the United States to be the United States of America, not the divided states of America.
And this is where we're heading towards.
Hey, Jeff, that's all good points, my friend.
Thanks for listening.
Thanks for calling and sharing your ideas with the audience.
I appreciate it.
We're going to take a break, everybody.
We'll be back with more right after this.
Go away.
There's more Political Sense Pool coming your way right after these messages.
Welcome back.
To get on the political cesspool, call us on James's Dime, toll-free, at 1-866-986-6397.
And here's the host of the Political Cesspool, James Edwards.
Man, it's been a fast-paced show so far.
We're going to continue at that breakneck speed right now.
I got a surprise for everybody.
Got a surprise for everyone right now.
My gift to you this evening, we are breaking away from standard format.
And, well, we're going to double our quotient of Keith Alexander right now.
Keith Alexander joining us for the remainder of the second hour.
Normally, he's only in for the first.
Tonight, he is pulling double duty, going to be working for that overtime.
He's working for that overtime.
And here he is now.
He just got so much on his plate, he couldn't eat it all in an hour.
So I said, hey, man, just settle in, let it digest, and we'll see what we can do in the second.
Here he is for more play.
We're the double Minton twins.
Double your pleasure, double your fun here at the political cesspool.
I'm going into my typical mode, the thing that we started out with in my segment, which is the behind enemy lines segment where we basically debunk a couple of typical Memphis commercial appeal newspaper articles and get down to the real meat of the coconut and tell you what things are really about.
Now, the first one is a guest column in the Memphis Commercial Appeal from Tuesday, April the 5th, 2011 called Protect Our Legacy and the Least of These.
And the subheadline is, the U.S. is funding effective programs that save lives in sub-Saharan Africa, says Molly Mary Campbell.
And that need to be saved from budget.
That needs to be saved.
They mess up the grammar again.
That needs to be saved from budget elimination.
Of course, you know, the liberals apparently aren't too smart and don't know how to use the English language properly.
Let's go into this.
As director of community engagement at Bridges, a nonprofit organization in Memphis, actually a hard leftist organization in Memphis, it's kind of the junior auxiliary to Leadership Memphis, and they have these leadership groups throughout the country like Leadership Memphis, Leadership Kukamanga, you name it.
They've got it.
And they're basically intended to make sure that all of the potential leaders for the next generation are good card-carrying liberals.
If you're a conservative and happen to go into this, then they know that you're outed and they know who not to ask to be on this board and that board.
This is like the demolaise of the liberal gateway hierarchy.
Now, here's what Molly Mary Campbell has to say.
I am blessed with the opportunity to help Memphians become leaders in fighting poverty and advancing justice in our community.
In other words, I am a full-blown leftist kook.
Here we go.
Seeing so many people working together to build a brighter future here every day makes me proud to call Memphis home.
In other words, I'm busily trying to undermine Western civilization, and that's what really animates me.
But doing my part to help improve the lives of people here does not ease my heartache for those suffering and dying from extreme poverty around the world.
For my friends in Africa and the more than 1.4 billion people worldwide who live on less than $1.25 a day, the obstacles and preventable tragedies are vast and varied, and the immense progress that has been made over the past decade due in large part to U.S. support is at serious risk of being erased.
Each day, approximately 12,000 people die from HIV AIDS, tuberculosis, or malaria, nearly two-thirds of whom live in sub-Saharan Africa.
In other words, two-thirds of the people dying worldwide from AIDS, tuberculosis, or malaria are in sub-Saharan Africa.
That's more than 360,000 people a month, or three times the number of children in the Memphis City schools.
Why she threw that in, I'll never know.
Each day, 1,000 babies are born with HIV.
More than half of them will die before the age of five.
More alarming, pneumonia and diarrhea, two common and easily treated afflictions in the U.S., kill more children in the developing world under age five than HIV, AIDS, TB, and malaria combined.
Americans have been working to combat these unnecessary tragedies through proven and effective programs such as President George W. Bush's Landmark AIDS Fighting Initiative, the U.S. President, that's so much for the good conservative George Bush that all these mainstream Republicans like to heart to.
The U.S. President's Emergency Plan for AIDS Relief, or PEPFAR, that's the acronym for it, as well as the Global Fund to Fight AIDS, Tuberculosis, and Malaria.
Now, here she goes again.
This is America at our best, targeting our federal funding in the most effective ways to help solve these health problems and teach people how to hold sustainable pathways out of poverty.
Unfortunately, with the way things are going in Congress these days, this all might change.
Over the next few weeks, our representatives have some very difficult budgetary decisions to make.
As we all personally tighten our belts, reducing our national debt is also critical, if not for us, then for the future of our children.
The key is for our elected officials to have a strong sense of their priorities before they make decisions that can literally mean life or death for millions around the world.
For less than 1% of the entire U.S. budget, we can help end mother-to-child transmission of HIV, help, not end, okay, and provide children and pregnant women with bed nets to stop malaria-carrying mosquitoes from infecting them in the night.
Well, you know what, Molly, if other leftists called environmentalists had not stopped the production of DDT, malaria would not be a problem in sub-Saharan Africa or anywhere else.
It had almost eradicated malaria until the environmentalists got a hold of it, inspired by Rachel Carson's book, Silent Spring, and basically outlawed the production of DDT.
That's why malaria is a problem.
You know, physician, heal thyself, or liberal, look in the mirror if you want to know where the true enemy of world health is.
Okay, now let's move on.
We can help build wells for clean water.
We can continue to provide the most basic childhood vaccinations and train communities and advanced farming techniques to help them become financially independent.
Wait a minute.
What happened in the former Odisha Zimbabwe, the former breadbasket of Africa?
What happened in South Africa?
The white farmers are being dispossessed and the black farmers, despite all of these so-called advanced farming techniques, aren't able to grow crops on this land.
That's why people are starving over there, Molly, not because of some lack of funding from the United States.
You know, what do they say?
You can dress them up, but you can't take them to town.
Apparently, farming just isn't in the genes of these people, but killing people with machetes is.
Okay, now, I'm a member of 11.org, a grassroots advocacy campaign dedicated to fight against extreme poverty and preventable disease, particularly in Africa.
Having spent three months in Malawi with the Clinton Hunter Development Initiative, I had the opportunity to experience part of the critical progress that American supported programs have been making on the ground.
And then let's just keep going on.
It says, the children born in Malawi are no less deserving of life than children born here in Memphis.
But if we slash the funding that keeps them alive and serves as a hand up for their parents, that's exactly the message we send.
And it's not who we are as Americans.
We are exceptionally blessed as a nation.
And as such, we have a special leadership role in the world.
Please, let's not turn back the clock on the progress we have made.
Let's not let them do it in a vacuum.
Tell them to allow us to remain the leader in helping the least of these.
Okay, now that's the article.
We're going to get back with commentary on it after this break.
Keith Alexander doing the commentating and the hosting, getting his hosting chops right there and leading us into breaking.
And ladies and gentlemen, he's exactly right.
We've got to go to break.
We'll be back.
Keith's going to read the newspaper a little bit more.
No, no, no, he's not.
But listen, it's a big story.
It's a typical story.
He's going to analyze that story now that he's given you the facts right after this.
Stay tuned.
Don't go away.
The political cesspool, guys.
We'll be back right after these messages on the show and express your opinion in the political says pool.
Call us toll free at 1-866-986-6397.
All right, folks.
The Political Cesspool rolls on.
James Edwards and Keith Alexander.
Still with us here for tonight's second hour.
If you want to join a riveting discussion about Natalie Portman, I encourage you to visit the Political Cesspool virtual fan party and online chat hosted by our partners, the Council of Conservative Citizens.
I don't know exactly why a discussion of Natalie Portman's looks is going on in our chat room.
We certainly haven't gotten into that on the program tonight, but in the chat room, the fans have a mind of their own.
If you want to weigh in on the best-looking actors and actresses in Hollywood, that's what they're talking about there, Keith.
I don't know.
It's kind of like kind of like children in the classroom.
Every now and then they just lose focus.
But anyway, check it out, everybody.
C OF Cc.org, C Ofcc.org.
Weigh in on Natalie Portman and other modern day actresses here on the program, though we still have political issues to discuss and with that being said, I'll turn it back over to Keith.
A little good natured chiding there for our friends.
Back to ground zero in the culture war here in Memphis Tennessee, I just read you an article called Protect Our Legacy and the Least of These, featuring a commentary by and I'm not making this up Molly Mary Campbell.
Now, they have a picture of Molly Mary Campbell here, and quite frankly, she looks like Malibu Barbie, at least from the face that I can see here.
A typical, soft-hearted, suburban, probably housewife, you know, she looks appropriate age for that.
But unfortunately, all of her maternal instincts have been subverted by the left into basically an excuse to use our money.
support people overseas in the third world, particularly Sub-Saharan Africa.
Now, why is Sub-Saharan Africa the target of so much of this?
Why is it the total subject of this article?
Well, that's where black folks come from and of course the left loves black people.
They are very useful at deconstructing the old order in America and you know, I guess it has never occurred to Molly Mary Campbell that foreign aid is unconstitutional, that we shouldn't be using the tax dollars of Americans to support either military adventurism overseas or humanitarian adventurism overseas.
Quite frankly, the more we do, the worse things get.
We give tons of humanitarian aid every year to prop up a pernicious, bloodthirsty tyrant in Zimbabwe called Robert Mugabe, Desmond Tudu and all these people in South Africa that were supposedly such wonderful people.
Likewise, you know, his Nelson Mandela's wife Winnie, used to necklace people.
That's putting a political opponent.
She would put a tire around them, fill the tire with gasoline, light it and watch the fun unfold.
These are the people that get the benefit of all this humanitarian aid.
In fact, most of this humanitarian aid finds its way into the hands of these tin pot dictators that they have over there and they sell it or give it out to cronies and friends.
So none of this is ever going to find its way into the pages of the commercial appeal they want you to give till it hurts.
You know we're having a lot of pain in America now with budget constraints, but what a lot of people don't understand is 54 54 percent of the?
U.s budget is spent overseas.
I'm not making that up between the military and between humanitarian uh uh, uh gestures like the one that Molly Mary Campbell supports, or just flat out, uh bribe money to foreign dictators, everybody from Hosni Mubarik and uh Moamar Gaddafi to uh Benjamin Netanyahu.
That's 54% of the American budget, the U.S. Governmental Budget.
If we actually went back to the Constitution and stopped doing all of that, stopped making those expenditures, there would be no pain in America.
You know, basically, public sector unions could have the money that they want, and every other domestic program could be fully funded if we would just basically follow the Constitution.
You know, the Constitution is the fundamental law of our nation.
It is the supreme law of our nation, and it is ignored blithely by the leftists that run America today, James.
Now, you know, soft-heartedness, which Molly Mary Campbell represents here, unfortunately leads to soft-headed decisions politically.
Now, what's going to happen with all these people whose lives they're saving over there, supposedly?
First of all, they're in jeopardy because their own government isn't doing its job.
And it's not doing its job, not because they don't have natural resources in Africa.
In fact, the continent of Africa has more natural resources and more abundance than almost any other place on earth.
They have a long growing season.
They have plenty of rare minerals, everything from diamonds and gold to all these heavy metals that they use in nuclear projects.
They have oil in abundance, but they're impoverished.
Why are they impoverished?
They're impoverished because of the leaders that they allow to control their nations.
And what we're doing basically by giving this money to them is propping up these dictators.
Now, see, you read this article, and I mean, it's just like Rodney King saying, can't we all just get along?
All the suburban housewives are billing and cooing over this.
But it's all a ruse.
It's a fraud.
Don't be deceived.
If you really believe this money is going directly to these people, see me after the show.
There's a bridge in Brooklyn I'd like to sell you.
What this does, again, it's another colossal waste of money.
And if we followed the sage advice of the founding fathers, none of this would ever happen.
And basically, Molly Mary Campbell could devote all of her maternal instincts and nurturing talents to her own family, which, quite frankly, is where they belong.
If people could see the newspaper from which Keith is reading right now, you would also see the picture of Molly Mary Campbell, the author of this guest opinion piece, and you would see that she looks like a poor man's Carrie Prajan,
the Miss California winner, the Miss America runner-up that advocated a traditional viewpoint on homosexual marriage, and you thought that the world was coming to an end, according to the media.
Of course, as Mississippi proved in the first hour, the media doesn't speak for America.
We do.
And Red State Americans, when given a chance, will speak out.
But don't let all this constant brainwashing lead you to believe that you were that far removed from the mainstream folks.
Quite the opposite is true.
But nevertheless, this piece, the author, Mary Molly Campbell, looks like Carrie Prajan.
Keith, what would happen to her if she actually stepped it up to the last full measure, went over to Africa, or for that matter, went down to New Orleans and got down, got her boots on the ground in the ghetto doing this great humanitarian work that she so advocates for?
Well, she went over there, apparently, in some carefully controlled environment government program to pluck at her heartstrings even more.
But if she actually went in there and put boots on the ground in the area where all this, supposedly, all this need is, she'd probably wind up like Amy Byrick killed.
She was a American liberal Jewish girl that went over to South Africa to help her favorite people in the whole world, sub-Saharan Africans, and they repaid the favor by killing her.
We saw this in New Orleans on several occasions with aid workers after Katrina, and this is in America.
Yeah, this was done.
I think there was some, again, Jewish girl from San Francisco that came out there to organize left-wing activity in New Orleans.
And she was riding her bicycle down the road and winds up the next day dead in the gutter.
What a surprise.
You know, this type of foolishness.
You know, just think about all this foolishness, James.
It's, you know, what's going to happen to America if we actually follow the misbeguided directives that we get from the left.
Somebody in the CFCC chat room said, I propose a trade.
Let's give the sub-Saharan Africans what's left of America, and we'll go over there and take the diamonds.
That'd be a pretty good trade, actually, the way things are standing right now.
We're going to get it back, folks.
We're going to reclaim America's destiny.
Don't you worry.
The political cesspool will lead the way, as we always do.
Got to take a break.
Coming up right after the break will be the final segment of the second hour.
And then we're going to be transitioning into the third and final hour, which will feature tonight's segment on Confederate History Month.
Of course, we're in Confederate History Month.
April of each year is Confederate History Month, and we'll do our part next year to celebrate that.
Stay tuned.
Don't go away.
The Political Cesspool, guys.
We'll be back right after these messages.
We'll return.
Jump in the political cesspool with James in the game.
Call us tonight at 1-866-986-6397.
And here's the host of the Political Cesspool, James Edwards.
Hey, folks, if you could only see what goes on behind the scenes here at WLRM Radio during these commercial breaks, I tell you what, lively conversation.
If you think it's lively when we're on the air, you should see us off the air.
We leave no stone unturned.
But welcome back to the show.
The PG-rated version of it anyway, the live part.
James Edwards, Keith Alexander with you.
One more segment tonight, this hour at least, and then a whole other hour, and we're going to get into Confederate history.
But one more segment tonight with Keith.
It's been a great show so far tonight, hasn't it?
If you've not yet joined us in the Council of Conservative Citizens chat room, do it now.
Cofcc.org, c of cc.org.
And don't forget to check out our official website, thepolitical cesspool.org.
We have really been covering a lot of stories the last seven days.
You might have to go back a couple of pages on the blog roll once you get to thepoliticalcesspool.org.
We've been filling it up, and we've already got a head start on some big stories we're going to be covering over the course of the next couple of days.
One of our biggest stories in recent weeks was a write-up I did about ABC's hit show The Bachelor being racist.
Well, I'm going to be writing about a new show that's debuting tomorrow on e-television.
The title of it, and this is all I'm going to say, because you can probably figure it out from this, Chloe and Lamar.
Chloe and Lamar.
Check the Cesspool site out on Monday for my thoughts.
And that being said, let's turn it back over to Keith for his thoughts right now.
Let me do a little wrap-up on that last behind enemy lines segment that we did.
Here's what's happening regarding that.
You know, this is a skinny on the Protect Our Legacy and the Least of These comment from the Tuesday, April 5th, 2011 Memphis commercial appeal.
Basically, it doesn't matter how much money you pump into sub-Saharan Africa, as long as the place is run by cruel, bloodthirsty, anti-white despots like Robert Mugabe, you're not going to make any idiomen, people like that.
You're not going to make any progress.
And all this concern over the least of these is just basically money saving your conscience, money that should never leave the United States, money that, according to the Constitution, the federal government doesn't have to spend.
It's not theirs to spend.
But of course, that is totally lost.
Constitutional governments and the restraints of the Constitution are the last thing from a liberal's mind.
They want to destroy the Constitution, at least the ones that bother to think about it at all.
Now, Molly Mary Campbell should be, and would have been back in a saner age than today, probably at home raising four or five children and using all of her maternal and nurturing instincts to raise those children into good, productive adults and to help her husband earn the bacon, you know, bring home the bacon and earn the money necessary to support these kids.
Instead, she's busily trying to separate us from our money and guilt-tripping people that are legitimately trying to reduce a incredibly bloated federal budget.
You know, she's chiming in for the least of these.
Now, again, behind enemy lines, let's move on to this one.
This is from the Wednesday, April the 6th, 2011 commercial appeal.
A guest column by Brian Jordan, the president and CEO of First Horizon National Corp., which is the new name for the First Tennessee bank and FTN Financial.
No effects of capping debit card fees.
Unintended results may be higher costs, fewer options to bank customers, and creation of a new class of unbanked customers.
Okay, there's your teaser.
We gave you a teaser about it last week.
You said, why are the elite, particularly in the banking industry, so animated about this one part of the Dodd-Frank banking bill, financial regulation bill that came out, which is basically putting a cap of 12 cents per transaction on debit card transactions.
Well, you know, we said it has to do with passing on the costs of misbegotten liberal initiatives on to the solvent middle class.
So, you know, let's just move on with it.
Here's what he says.
Many a good intention has been undermined by unintended consequences.
We believe this holds true for parts of the sweeping financial regulatory overhaul enacted last year, especially the mandate to limit debit card interchange fees.
If implemented as proposed, such limits would restrict how First Tennessee Bank and other members of the financial services industry can serve their customers.
In fact, a fee cap could actually be more costly to those customers, the supposed beneficiaries.
That's what we mean by unintended consequences, and that's why we support the bipartisan effort by Senator Bob Corker, Tennessee, to delay implementation to assess the impact on customers, businesses, and banks.
The push for reform was understandable in the wake of the 2008 financial meltdown.
At First Tennessee, we supported much of the 2,300-page Dodd-Frank financial regulation bill, which became law last summer.
We have always strongly backed consumer protection.
Now, here's what he says.
We urge Congress to pause and consider the consequences of caps on debit interchange fees.
Dodd-Frank contained a late entry.
The Durbin Amendment empowered the Federal Reserve to cap interchange fees which banks charge merchants for processing debit card transactions.
The Fed's initial proposal would cap interchange fees at 12 cents per transaction, a 73% cut from the current average of 44 cents.
It says, the Durbin Amendment could force banks to eliminate or curtail service or increase fees.
The free market in regulators should set prices.
Yeah, really.
Okay.
They have a real free market in this oligarchy of financial institutions here.
Organizations as varied as the National Association for the Advancement of Colored People, the Hispanic Chamber of Commerce, the National Education Association, and the Consumer Federation of America have expressed their own concerns about the full impact of the Durbin Amendment.
Does that benefit customers, especially low-income customers who may be forced out of traditional banking?
Some industry leaders are predicting millions of people will be priced out of the banking system, adding to the roles of the unbanked and underbanked in our country who pay more than necessary to conduct financial transactions.
Surely regulatory reform was not intended to cost bank customers more, restrict their options, and create a new class of unbanked customers.
Yada yada yada.
Okay, let's strip this back.
The reason they had a 2008 financial meltdown that almost crashed the world's economy was because the U.S. Congress under then President Jimmy Carter passed the Community Reinvestment Act, which forced banks and mortgage companies to make loans to minority applicants, even when they had lousy credit.
Black and Hispanic customers specifically.
Now, the people that weren't paying their mortgages that brought on this financial meltdown in 2008 were black and Hispanic homeowners.
It wasn't whites.
It wasn't white Gentiles.
It wasn't Jews.
It wasn't Asians who did this because they weren't the beneficiaries of this departure from sound banking practices that all of these banks got on board and decided this would be a great thing to do because they wanted to get props for being good liberals.
But, you know, they want props for being good liberals, but they sure don't want to have to pay for the fallout from being a good liberal.
And what they did is, you know, have you ever wondered why banks don't make loans anymore?
Why it's so difficult to get a loan nowadays.
You have to have pristine credit, and nobody has pristine credit primarily because of credit cards.
Credit cards, you know, will hold your payment, say you're late, and jack your fees up to 17% or more.
You know, it's almost diabolical.
And they do this so they can make money without lending money, which is really the primary social function of a bank.
You know, if a bank can't make loans to help businesses and people in their community, then they don't serve any community service.
Instead, they're predatory.
They're predating on people that use their credit cards.
Okay.
And what they're trying to do with that, they're making the money so they can pay off all of the expenses associated with giving loans to people that don't deserve them in the first place.
And who winds up paying for this?
They say the merchants.
The merchants pass the costs on to you and me.
We're paying for this wonderful liberal initiative.
I say, let it crater.
What do you say, James?
I say another great segment brought to you by the one and only Keith Alexander the Great, holding court and pontificating as only he can.
Keith Alexander, what an ass that he is to this program.
What a great, great gem he is in our Sultan's hat here as a member of the Political Cess Pull co-hosting staff.
We've got to take a break, everybody.
Third and final hour coming up.
We're going to transition into celebratory mode, celebrating Confederate history and heritage during tonight's third hour.
Stay tuned for that.
Believe it or not, there's a third hour of tonight's installment of the political cesspool coming your way right after these messages.