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A decade in the making, the controversial Trans-Pacific Partnership (TPP) is reaching its climax and as Congress hotly debates the biggest trade deal in a generation, its backers have turned on the cash spigot in the hopes of getting it passed.
“We’re very much in the endgame,” US trade representative Michael Froman told reporters over the weekend at a meeting of the 21-member Asia-Pacific Economic Cooperation forum on the resort island of Boracay. His comments came days after TPP passed another crucial vote in the Senate.
That vote, to give Barack Obama the authority to speed the bill through Congress, comes as the president’s own supporters, senior economists and a host of activists have lobbied against a pact they argue will favor big business but harm US jobs, fail to secure better conditions for workers overseas and undermine free speech online.
Those critics are unlikely to be silenced by an analysis of the sudden flood of money it took to push the pact over its latest hurdle.
Fast-tracking the TPP, meaning its passage through Congress without having its contents available for debate or amendments, was only possible after lots of corporate money exchanged hands with senators. The US Senate passed Trade Promotion Authority (TPA) – the fast-tracking bill – by a 65-33 margin on 14 May. Last Thursday, the Senate voted 62-38 to bring the debate on TPA to a close.
Those impressive majorities follow months of behind-the-scenes wheeling and dealing by the world’s most well-heeled multinational corporations with just a handful of holdouts.
Using data from the Federal Election Commission, this chart shows all donations that corporate members of the US Business Coalition for TPP made to US Senate campaigns between January and March 2015, when fast-tracking the TPP was being debated in the Senate:
Out of the total $1,148,971 given, an average of $17,676.48 was donated to each of the 65 “yea” votes.
The average Republican member received $19,673.28 from corporate TPP supporters.
The average Democrat received $9,689.23 from those same donors.
The amounts given rise dramatically when looking at how much each senator running for re-election received.
Two days before the fast-track vote, Obama was a few votes shy of having the filibuster-proof majority he needed. Ron Wyden and seven other Senate Democrats announced they were on the fence on 12 May, distinguishing themselves from the Senate’s 54 Republicans and handful of Democrats as the votes to sway.
In just 24 hours, Wyden and five of those Democratic holdouts – Michael Bennet of Colorado, Dianne Feinstein of California, Claire McCaskill of Missouri, Patty Murray of Washington, and Bill Nelson of Florida – caved and voted for fast-track.
Bennet, Murray, and Wyden – all running for re-election in 2016 – received $105,900 between the three of them. Bennet, who comes from the more purple state of Colorado, got $53,700 in corporate campaign donations between January and March 2015, according to Channing’s research.
Almost 100% of the Republicans in the US Senate voted for fast-track – the only two non-votes on TPA were a Republican from Louisiana and a Republican from Alaska.
Senator Rob Portman of Ohio, who is the former US trade representative, has been one of the loudest proponents of the TPP. He received $119,700 from 14 different corporations between January and March, most of which comes from donations from Goldman Sachs ($70,600), Pfizer ($15,700), and Procter & Gamble ($12,900). Portman is expected to run against former Ohio governor Ted Strickland in 2016 in one of the most politically competitive states in the country.
Seven Republicans who voted “yea” to fast-track and are also running for re-election next year cleaned up between January and March. Senator Johnny Isakson of Georgia received $102,500 in corporate contributions. Senator Roy Blunt of Missouri, best known for proposing a Monsanto-written bill in 2013 that became known as theMonsanto Protection Act, received $77,900 – $13,500 of which came from Monsanto.
Arizona senator and former presidential candidate John McCain received $51,700 in the first quarter of 2015. Senator Richard Burr of North Carolina received $60,000 in corporate donations. Eighty-one-year-old senator Chuck Grassley of Iowa, who is running for his seventh Senate term, received $35,000. Senator Tim Scott of South Carolina, who will be running for his first full six-year term in 2016, received $67,500 from pro-TPP corporations.
“It’s a rare thing for members of Congress to go against the money these days,” said Mansur Gidfar, spokesman for the anti-corruption group Represent.Us. “They know exactly which special interests they need to keep happy if they want to fund their reelection campaigns or secure a future job as a lobbyist.
“How can we expect politicians who routinely receive campaign money, lucrative job offers, and lavish gifts from special interests to make impartial decisions that directly affect those same special interests?” Gidfar said. “As long as this kind of transparently corrupt behavior remains legal, we won’t have a government that truly represents the people.”
The federal government has captured America by capturing the states.
This was done by the usurpation of the founder’s laws – namely and particularly, “No state shall make any Thing but gold and silver coin a tender in payment of debts.” (Art. I, Sec. 10, U. S. Constitution) Once the “insiders” (bankers, politicians, giant corporations, etc.) completed the unlawful seizure of this monetary power, there was no stopping them. It was but a mere hole in the dike in 1913 that became the collapsed dam by the turn of the century. The further capture of the “Robes” – the judges, professors, economists and news editors – cemented the perpetual deception.
Washington DC’s funding by apportionment only from the states, which provided control over that central government, became a thing of the past. The power is in the money, and now, instead of floating upwards with one purpose, it is drifting downward to the states with all kinds of strings attached, with the main one being the oncoming federal influence within the states that goes along with it.
This invasion could have been stopped with the people’s proper knowledge of the supreme law of the land wherein each politician, bureaucrat and appointee was sworn to (among other things) “protect against all enemies foreign and domestic.”
Did no one in the twentieth century understand what the founders meant by “domestic enemy?” Did nobody realize that anyone from inside the government (particularly the federal faction) that in any way threatened the liberty of individual citizen was a “domestic enemy”? Is there any better way to define the unconstitutional (unlawful, by definition) performance of those “Twin Sisters of Deception,” the agents of the Federal Reserve Band and the Internal Revenue Service? Each employee was sworn to protect us (that’s “We, the People”) against all enemies both foreign and domestic, but instead and with proper coercion, became one.
In its pretended consideration for the rights of the accused, the courts will appoint counsel to represent the victim of a crime that government created in the first place. This appointed counsel who accepts the Coin of the Realm, induces this victim, now his client, to plead guilty to mitigate the upcoming punishment. It’s what my new book is all about — not accepting a disloyal appointee and the only winning alternative; and its title, Miracle in Atlanta may offer some insight to the resulting verdict.
However, if this victim of the system is idealistic enough to still believe that he will receive a fair trial and decides to go to court, he will find that he will be faced with trial by Caesar, where Caesar’s judge and Caesar’s prosecution will manipulate all of the facts and evidence. And this happens even in Caesar’s lower traffic courts. It will not be an actual trial by jury because mendacious prosecutors and government agent witnesses, who are well-trained and well-practiced liars, will deceive that jury. The exculpatory evidence and/or extenuating circumstances will not be heard until after the defendant is convicted. This process of horror is perpetrated daily by the American government’s hunger for drug and tax crime. And what public danger has the American citizen exhibited by not wearing a seat belt?
And if it seems that there is no fairness in the courts today, it’s only because there isn’t. Here’s why:
How can anyone expect a fair trial in a system that is offering incentives of financial remuneration to all that help achieve a conviction? With all this done behind the scenes and under the table, certainly the defense attorneys (appointed or hired) have sometimes been involved, and we have seen it. Then, with this power, can there be any reason why a few on the jury would not be included in this payoff as well?
If crime doesn’t exist in sufficient proportions, the domestic enemies will create it. If a person cannot be induced to commit the crime, he will be punished for discussing it. Hundreds of thousands of Americans are victims of this government oppression. The crime is called “Conspiracy,” and it has provided for most of the jailing of two and a half million Americans, more than any nation on earth. The legal tender fraud has allowed for the governmental pillage of the people’s freedom and property, and it is designed to continue America’s phony wars on “Drugs and Terror” and to perpetuate the myth that taxpayers fund the government.
The distinction between real crime and government-created crime has been blurred because the government needs an enemy. This enemy has become the bewildered American people.
One of the best ways to gain negative whispers from your friends, neighbors and relatives in America these days is to go about writing and teaching the same principles that our founding fathers used in the great struggle for independence.
Would-be gawkers in New York’s wealthy Hamptons neighborhoods are easily foiled by tall, thick hedgerows and long, gated driveways. For a long time, so were tax assessors wanting to check properties with a quick drive-by. Then they found an easy way past all those defenses. They just went over their heads—or specifically, a pilot in a tricked-out Cessna did, with cameras in the plane’s belly and sides taking high-resolution photos of lawns speckled with pools, cabanas, and tennis courts.
The Southampton town assessor used such aerial photos of one of the most highly assessed gated properties in Sagaponack to show the town board how useful the flyover imagery, which cost around $110,000, could be. “We could see everything,” says Lisa Goree, the town assessor. “We could measure every roofline, every structure, the land between the structures. It was amazing.” The town already had the permits for construction done on the property, but the added detail from on high helped send the assessed value of the property from $218 million to $240 million, she says.1
Resource-strapped local governments across the U.S. like how the photos can lead to more accurate tax rolls, greater tax revenue, and a far faster, easier way to assess properties. For an extra fee, counties can use software to compare current photos with prior flyovers. That helps them find potential changes to properties—and a good recent aerial photo can also stop a property tax appeal in its tracks. So while government users of the photos welcome it as a revenue and productivity boon, the impact on homeowners is more mixed.
In addition to being shot straight down, the photos are taken at an angle, from all four directions. That makes changes to a property far easier to see and measure, and with every pixel in the photo geo-referenced, land parcels are easy to identify. Southampton's vendor, aerial measurement company Pictometry International, which developed an angled "oblique" photography method, merged with EagleViewTechnologies, an aerial roof and wall measurement company, in 2013. Pictometry's 80 Cessnas have shot high-resolution aerial photography in counties that include about 90 percent to 95 percent of the U.S. population, according to Chris Barrow, EagleView's chief executive officer. The company has clients from every state, more than 1,300 counties in total, he says, and more than 1,700 clients if municipalities and Canada are included.
Since Southampton’s first run of photos in 2009, it has paid for two more flights and bought more of the company’s analytics software to identify property changes and track valuation trends among homes. In 2014, two staffers used Pictometry's ChangeFinder software, which cost the town $18,000, and found second-floor additions, extensions to first-floor living space, new garages, and other changes that all added $41 million in assessed value to the tax rolls, says Goree.
Appraisers in Florida's Hillsborough County, which started using aerial photographylast year, have spotted everything from an entire house that had been left off the rolls to a new fireplace chimney. After analyzing more than a quarter of the tax roll, the head of the property appraiser's office, Bob Henriquez, says the photos and software added a net of $9.5 million to the value of properties in the area, amounting to about $182,000 in tax revenue to be collected every year.
The photos, though, can be a big investment. Angled photos by Pictometry at a 3-inch resolution (the better the resolution, the more expensive the photos) cost Hillsborough about $272,000 per year for a four-year contract. It used another firm,Aerial Cartographics of America (ACA), for the straight-down shots.
But prices for aerial imagery are coming down, says Kevin Cameron, chief appraiser for Georgia's 374-square-mile Elbert County. After looking around at a variety of companies, including Pictometry, he chose one that began expanding into the aerial imagery business in the past few years2, ControlCam, for his most recent flyover. Its bid of less than $30,000 for both straight-down and oblique imagery, at a 6-inch resolution, was much lower than that of Pictometry and other vendors, he says. Cameron hasn't received the imagery yet, so he can't speak to its quality.
The aerial imagery isn’t entirely a game of gotcha for those who don’t bother, or aren’t prompt, about getting building permits. “For every dollar that we placed on the tax roll, we’ve taken a quarter off,” says Henriquez. His staff is finding “subtractions” to valuations, such as pools that added value but are now filled in or a dock that is no longer there.
The photos do make it harder for property owners to fudge facts. “It’s pretty funny sometimes,” says Goree, the Southampton assessor. When attorneys or homeowner representatives make a claim about a property that’s not quite right, “when I pull out this big beautiful photo just taken in 2014 there’s not really much they can argue,” she says.
Assessors say the flights don't spark much in the way of privacy concerns. Issues that have popped up when some jurisdictions start using Pictometry's product "are often quickly addressed when residents understand that the images are captured on a schedule of once every two years and do not involve satellites or real‐time monitoring," the company has written.
Imagery at a 3-inch resolution means that one pixel represents 3 inches on the ground. At that resolution, you can see rooflines and shrubs, according to Pictometry, but a face or license plate would be only a few pixels and so not recognizable. (Pictometry also offers 1-inch resolution and says even then it's very hard to identify faces or smaller details.)
"The larger point is that advancing technology—particularly drone technology—will increase the privacy risks associated with this kind of work," says Jeramie Scott, national security counsel for the Electronic Privacy Information Center. Once technology has evolved so that drones don't have to be within a line of sight, "having so many drones flying may add additional avenues for revenue, like collecting license plate data or mapping the presence of Wi-Fi or cellphones," he says.
Drones will definitely allow for higher resolution; that's one reason the Federal Aviation Administration is working on regulations for the use of commercial drones, says EagleView. Last December, the company led the formation of the Property Drone Consortium. A white paper written for the group by an EagleView executive notes that drones "can make a huge impact" in lowering the cost of aerial assessments of low-density rural areas, as well as the expense of the multiple low-altitude flyovers planes must take to get resolution at 1-inch per pixel.
The paper's less compelling, if true, argument? "The reduction of site inspections ... lessens the chances of [assessor] run-ins with angry dogs."
The most recent phase of layoffs began earlier this year and would eliminate at least 2 percent of JPMorgan's workforce, according to the newspaper. The bank has already cut at least 1,000 of those jobs, a source told Dow Jones.
JPMorgan declined to comment on the report to CNBC.
Scott Mlyn | CNBC
A pedestrian walks past the JPMorgan Chase headquarters building in New York.
JPMorgan—which has 5,570 branches—has moved to emphasize technology and rely less on human tellers. Its Chairman and CEO Jamie Dimon said recently that the bank's average branch would lose one employee over the next two years.
However, the cuts affect all of JPMorgan's major business units, theJournal reported.
The company cut 7,900 mortgage jobs and left certain businesses last year. It has slimmed its workforce to about 240,000 employees, with cuts in 11 of the last 12 quarters, according to the report.
Still, JPMorgan hires about 40,000 employees annually, according to the report.
JPMorgan has not outlined plans for job cuts previously, but broadly touched on expense cutting plans in a February investor presentation. The bank said it expected expenses to drop to $57 billion this year from about $58.4 billion last year.
"We won't compromise investment dollars in order to improve short-term efficiency or performance," said JPMorgan Chief Financial Officer Marianne Lake at the the time.
Other large American banks including Bank of America and Citigrouphave also cut costs amid a tougher regulatory and legal environment in recent years.
JPMorgan Chase shares were trading slightly lower Thursday afternoon.
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