Is Charlie Rangel Next?

Tyler Durden's picture

Submitted by Mike Krieger of Liberty Blitzkrieg blog,

Charlie Rangel has been a U.S. Representative. since 1971 and is currently the third longest serving Congressperson in America. He turned 84 years old this past Wednesday, and was at the center of a tax avoidance scandal several years ago. As the Wall Street Journal reported in its 2009 article, Morality and Charlie Rangel’s Taxes:

Ever notice that those who endorse high taxes and those who actually pay them aren’t the same people? Consider the curious case of Ways and Means Chairman Charlie Rangel, who is leading the charge for a new 5.4-percentage point income tax surcharge and recently called it “the moral thing to do.” About his own tax liability he seems less, well, fervent.

Of course, if a mere pleb like you or I were caught avoiding taxes we’d likely face harsh consequences. However, for a crony politician like Charlie Rangel all is forgiven and is allowed to continue to “represent” his constituents.

In light of the stunning upset Dave Brat just pulled off against House Majority Leader Eric Cantor earlier this week, many are asking the question as to whether or not we are seeing a genuine political shift against the incredibly corrupt status quo. Personally, I think so. Even if I am incorrect on that front, one thing that is abundantly clear is that any candidate with strong ties to Wall Street will be attacked like a piñata. While the mainstream media likes to talk nonsense about how Brat won because of his opposition to immigration reform, it appears the opposite is true. His winning issue was actually crony capitalism and Wall Street theft. As was so fantastically reported on by The Republic Report:

“All of the investment banks, up in New York and D.C., they should have gone to jail.”

 

That isn’t a quote from an Occupy Wall Street protester or Senator Elizabeth Warren. That’s a common campaign slogan repeated by Dave Brat, the Virginia college professor who scored one of the biggest political upsets in over a century by defeating Majority Leader Eric Cantor in the Republican primary last night.

 

The national media is buzzing about Brat’s victory, but for all of the wrong reasons.

So while Democratic pundits may be laughing at the “civil war” within the Republican Party, they better look in their own backyard. Anti-Wall Street and anti-crony capitalism as a political issue isn’t just big within the GOP, it is set to take American politics by storm in general. Just ask Charlie Rangel, who faces a tough primary from Dominican born Adriano Espaillat in the primary. In fact, he is under so much heat, he pulled out of the final debate at the last minute. The Huffington Post reported yesterday that:

Something new is happening in a New York Democratic primary contest: An incumbent is getting hit for being too close to Wall Street.

 

The unlucky congressman is Rep. Charles Rangel, who was called out by challenger Adriano Espaillat during a recent debate for a vote to water down Wall Street reform. Espaillat, a state senator, has been hammering Rangel for weeks over his ties to the financial industry. On Thursday night, Rangel pulled out of the final debate before the election.

 

Rangel, 84, has been in office since 1971, but is in a dead-heat with Espaillat in the primary for New York’s 13th Congressional District, which represents Harlem and some sections of the Bronx. Rangel, Espaillat and a third contender, the Rev. Michael Walrond Jr., squared off in a debate Wednesday evening.

 

Espaillat attacked Rangel’s 1999 vote to repeal the Glass-Steagall separation between traditional banking and risky securities trading, saying economists widely cited it as a cause of the 2008 banking collapse. Espaillat then asked why Rangel voted to roll back a key aspect of the 2010 Dodd-Frank financial reform law, referring to Rangel’s support for a measure that would reinstate taxpayer support for risky derivative trades by big banks. The bill, HR 992, had been the subject of intense lobbying from the nation’s largest financial institutions.

The primary is on June 24th, and while Rangel is already half out the door anyway, a loss still would serve as a huge wakeup call into 2016, when Wall Street crony Hilary Clinton (she has earned millions speaking to private equity and Wall Street giants lately) assumes she is owed the crown.

Meanwhile, I want to highlight an article from Naked Capitalism yesterday titled: SEC Commissioner Kara Stein Declares War on SEC Chair Mary Jo White. Mary Jo White is a totally captured Wall Street lapdog, as I noted as soon as she was appointed in my piece: Meet Mary Jo White: The Next SEC Chief and a Guaranteed Wall Street Patsy. This is precisely what makes the Naked Capitalism piece so interesting. We learn that:

A relatively new SEC Commissioner, Kara Stein, has decided to depart from the usual polite behavior regulatory overseers and is making noise about SEC decisions and policies that she finds to be dubious. The word most commonly used in the media about her remarks is “blistering”.

 

But the press, while giving Stein’s unusually forthright speeches the attention they warrant, has either failed to notice or is pretending to miss what is really going on: Stein is taking on SEC chairman Mary Jo White on her finance-firm-friendly regulatory stance in a remarkably frontal manner.

 

The reason that Stein’s outspokenness is so unusual is that it is almost unheard of for a regulatory supervisor to cross swords openly with an agency head who hails from the same party.

 

Stein described one pre-crisis rule change that some readers may remember, namely, that the SEC changed its net capital rule in 2004 to let dealers use their own models, including dubious but still widely used Value-at-Risk models. Stein stresses that at the time, the SEC knew full well that this change would let firms get away with carrying less capital. Indeed, the wink-and-nod was that that was the point: the objective was to “reduce regulatory costs for broker-dealers.” Part of why the SEC took such a narrow view of risk was that historically, the agency was concerned only that the customers of a broker-dealer would come out whole if a firm fails, and not to make sure the firm can survive market upheaval. We all know how that movie turned out. The biggest US securities firms did indeed lever up and either failed, were rescued or merged into banks.

 

It’s important to take note of and support Stein’s efforts at the SEC. There is a lot of well-deserved cynicism about regulators and regulatory processes. But it is also critical to remember that well-placed individuals can make a difference. Even as one commissioner out of five, Stein has already made a mark on the final Volcker rule and is throwing a lot of sand in the gears of Mary Jo White’s game plan of going easy on the financial services industry on the regulator front. So if you have a minute, send a note to your Congressman and/or Senator (particularly if they are on any of the banking or financial services committees) praising her latest speech. The more notice Stein gets, the more effective she will be in her reform efforts.

Slowly but surely, things are changing. Keep pushing everyone.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Overfed's picture

Charlie Rangel should die in a fire. If that muffugger were standing on a gallows with a rope around his neck, I would yank the lever with glee. Fucking piece of shit.

Omegaman2211's picture

They all should, Overfed. They all should.

kchrisc's picture

All of them, past or present, should be judged against whether they violated their oath or Article 3, Section 3. Those guilty should be separated from their heads and the blood spread at the base of a Liberty Tree or Pole.

 

"There's a guillotine for that."

Urban Redneck's picture

A sharp kitchen or butchering knife works just as well, and is far more portable and practical for the average person. I hear they are offering free classes on how to use them in South Asia (again), or if airfare for the live show is bit much, then you can always catch the free version on YouTube.

F Dick, Forschner (Victorinox), Dexter-Russell... take your pick, readily available for under $30 with no background check required,

(and double smart ass points for Amazon drone delivery)

Smart Phone - Verizon (Pre-Owned) $0.99

F. Dick Ergogrip 8" Butcher Knife $19.99

The look on the 534 congress critters faces when they see the video of what justice really looks like...

TeamDepends's picture

"...attacked like a pinata.."  Finally, someone making sense.

macholatte's picture

 

Hope & Change ... skinned alive and washed with vinegar as the Half Time show of the Super Bowl all done to the tune Blue Danube as played by a symphony orchestra.

TeamDepends's picture

Yes, it hurts mon ami, but it's for the children.

kchrisc's picture

Unfortunately your method is too slow when one considers the thousands of guilty pols, crats and banksters, past and present that are in need of Retribution.

shovelhead's picture

I can recommend Dexter Russell. Very inexpensive yet NSF approved for easy cleaning and preventing cross-contamination.

You wouldn't want to infect your chicken with some unknown biohazard from a politician.

ParkAveFlasher's picture

My man Charlie has the lawn-je-vah-tee, n'ah mean?  Mr. Charlie know.  He gots all dem ghetto ho's dat dem pasty whiteez be diggin', bitchez!

Squid Viscous's picture

they are saving the 10 pm PMSNBC time slot for his show Let's "Wrangle with Rangel"...

JLee2027's picture

Nothing will change until Diebold fails.

Freddie's picture

Democrats.  The only thing worse than scum AIPAC RINO NeoCons is all Democrats,  The only honest one might be Dennis Kucinich. 

drendebe10's picture

Send the corrupt, fat fuk to Iraq along with the corrupt, incompetent, arrogant, narcissistic illegal indoesian kenyan muslim sociopathic liar in chief.

Emergency Ward's picture

Charlie is done when he decides he is done.

Hippocratic Oaf's picture

Exactly

He'll dance if he has to, but the part of NYC that he's repsentin' won't give up the cookie

knukles's picture

MAXINE "I forget how to hook my bra" Waters is immune to overthrow as well.... for the same racist reason

0b1knob's picture

Al "Idiot Grin" Franken is starting to look vulnerable too.  Hey Al, what's so funny?

http://content.answcdn.com/main/content/img/getty/3/3/71882733.jpg

Nice teeth.   I thought congress would have a better dental plan.

Emergency Ward's picture

He's laughing about Obama's non-deployment of troops in Iraq.

Squid Viscous's picture

typical ny kike and he was never funny-  oh wait when he played the fat gay guy in the oversized sweater that was hilarious!!

detached.amusement's picture

no, sorry, Franken was NEVER even remotely funny, the more he wrote for SNL, the more it sucked

kliguy38's picture

Just another slimy dirtbag that the bankers pay to get re elected......he's a bagman for them just like most Republipukes and demadumbs are.....

madcows's picture

Charlie Rangel is a white hating black guy.  Ain't no way his all black contingency would vote him out.  Are you crazy.  He's black!  These are the same folks that praise Al Sharpton and Jesse Jackson, and rejoiced for OJ.  Hell, they voted in Jesse Jackson's kid, even after he was indicted.    You could throw a child molester up there, and he'd win, so long as he's black.

rwe2late's picture

 Be fair,

there have been a whole lot of white voters thrilled to elect and support a corrupt politician

just because he is half black.

Meat Hammer's picture

I only hate the white part.

Squid Viscous's picture

Tawana Brawley can take his seat, lyin' azz bitch is #1 job requirement, i hear

Squid Viscous's picture

J fred muggs was a monkey, and he won hypothetical election in NYC probably would have done a  better job than than the current monkey  contingent

gdiamond22's picture

Yes, lets replace an old race-baiting liberal prick with a younger one.

Harbanger's picture

One thing about the FSA is they are very faithful voters.  Many people think voting doesn't matter, they may be right, but it's not because of diebold, it's changing demographics.

Big Corked Boots's picture

Charlie Rangel does NOT want to be referred to as the congressman from Harlem. The fact that he represents that part of town tells you all you need to know.

ceilidh_trail's picture

Median Harlem sales price is $750k and average sales price is $1 million??? I guess the only hoouse to have sold is the Clinton's and maybe another.

slightlyskeptical's picture

84 years old and still running for office. That alone should tell he is a no good MF. Kind of hard to gain opportunity when those who have it refuse to move on.

Harbanger's picture

Why would any politician leave on their own without Terms limits?  That's the problem.

saltedGold's picture

That's what gets me though... you'd think at 84 years old, you'd have better shit to do than work!  Unfortunately, these power hungry pricks can't think of anything better to do than fleece the country till their dying breath. 

ebear's picture

Term limits & campaign finance reform (public funding ONLY for election campaigns, and elimination of lobby groups).

If your candidates won't support that, they are not worth voting for.

 

wmbz's picture

Rangel is a lying fucking thief, like all the rest of them. The media loves old black Charlie though so he always has and always will get a pass. The folks who vote for him are morons but that goes without saying. They still think they are "sticking" it to the man. 

jbvtme's picture

sorry, man.  voters followed by morons is redundant

Flakmeister's picture

By all means, his time has come and gone...

Edit: 3 junks for agreeing Rangel should go. Only possible conclusion is that the Hedgetards are at it again.... Must be a reading comprehension thingie...

Overfed's picture

Wasn't me. It should be noted that he shouldn't just be voted out. He should be tried for treason and hung upon conviction. Along with a whole bunch of his ilk in Congress.

Flakmeister's picture

No real argument, treason might be a stretch though, definately tax evasion (it was good enough for Al Capone)....

Overfed's picture

I guess I would take what I could get in that regard. As if.....

Dr. Engali's picture

Viewing the world through different political lens is one thing, but junking a person just for existing says more about the junkers than it does about the junkie. Although, it doesn't help when your first tendency is to go to a dark place just because you don't like what a person says.

shovelhead's picture

Thanks for reminding me, Doc.

I always forget to junk people I disagree with.

I have to work on my slothful character.

 

cougar_w's picture

It means you can automatically remove 3 junks from anything you post. Actually I'd recommend discounting 6 junks; it's been a slow news day and some of the troglodytes might be down at the bar already getting plastered.

replaceme's picture

Charlie not get elected?  Couldn't happen to a nicer pig-eyed sack of shit.

waterhorse's picture

Hey how about that.  Mary Jo White rhymes with parasite.

disabledvet's picture

There a comes a point in time where maybe you realize you don't want that victory anymore. That everything you ever said and ever were was simply a fraud.

You have to cut deals.
You have to work with the PTB.

"And then just like that the deal is off."

We'll see but this has the feel of a sea change with a "lot of fluidity dead ahead."

Inthemix96's picture

Any of you fuckers get the feeling in your bones that its all coming apart at the seams?

30% vote here for the UKIP, you lot unseating dyed in the wool cunts for the first time in a hundred years, the EU falling apart, grief all over the Middle East and West Prussia?

There is a sea change coming.  You sow the seeds, you reap the rewards.

I have never felt more alive bitchez, this could be the start of 'Direct Democracy', its either that or they meet us at the gates of hell.

I have said it before, and I will say it till I am blue in the face.

We, Will, Be, Heard.

Smile you overseeing bitch cunts from the observatories of evil, (NSA, GCHQ), youre on candid fucking fucked off camera.

:-)