I get sick to my stomache when I read these posts and one ignoramous makes comments like the bank has paid us back. You must not have a BRAIN in your scull. The WORLD ECONOMY is suffering as a direct result of a few GREEDY wall street banks HERE in the USA – NOT over seas. The mortgage crisis was started by the banks and should END with the banks either FAILING or being regulated. I for one will NOT be paying higher taxes so the slimy ass banks can have a reserve of my tax dollars at their fingertips to steal from us whenever they want. The banks do not have standing to foreclose on the majority of homes in foreclosure because of the BANKS negligence in processing the paperwork properly. The BANKS are NOT caring for blighted properties. I was unlawfully evicted from my house and I continue to fight to get it back from the SCUM. I will call the number posted by Craig Gordon, I will be involved.

People who don’t know what is REALLY going on and the Bank’s role in this entire mess, should keep their comments to themselves until they educated themselves on these matters.

I get sick to my stomache when I read these posts and one ignoramous makes comments like the bank has paid us back. You must not have a BRAIN in your scull. The WORLD ECONOMY is suffering as the direct result of a few GREEDY wall street banks HERE in the USA – NOT over seas. The mortgage crisis was started by the banks and should END with the banks either FAILING or being regulated. I for one will NOT be paying higher taxes so the slimy ass banks can have a reserve at their fingertips to steal f rom use whenever they want. The banks do not have standing to foreclose on the majority of homes in foreclosure for the BANKS negligence in processing the paper work properly. The are NOT caring for blighted properties. I was unlawfully evicted from my house and I continue to fight to get it back from the SCUM. I will call the number posted by craig gordon, I will be involved.

People who don’t know what is REALLY going on and the Bank’s role in this entire mess, should keep their comments to themselves untill they educated themselves on these matters.

Who said anything about lobbying legislators? We have an initiative process in this state. Time and effort spend on feel-good pseudo-PR stunts should be spent collecting signature, registering voters, etc.

Public pressure like the kind of campaign this one could become, if you and others join it, pressure not just on politicians but corporate powers, could begin to shift things in our direction. That kind of pressure requires grassroots, public action. This particular one took very little of your hard-earned dues (though CTA/NEA’s lobbying operation takes a huge amount), just the extremely hard work of a few activists who also happen to teach just like you do. The effort will only prove to be futile (though it won’t “feel good”), if our members and others stand on the sidelines instead of joining it. The labor movement–like any other movement–is not a pay-for-service opeeration. You have to show up.

Check out oaklandea.org or call (510) 763-4020 to get involved.

Craig Gordon

ToM: GM has not paid back their bailout yet. “(Reuters) – General Motors Co GM.UL is determined to pay back taxpayers as quickly as possible, but the process could take “several years,” GM Chief Executive Dan Akerson said on Thursday [Sept 16, 2010].” http://www.reuters.com/article/idUSTRE68F2NB20100916

The management of OUSD couldn’t make payroll, and couldn’t borrow, resulted in the District giving management over to the State. The State management obtained a $100 million line of credit from private banks for the State take-over management to make payroll.

The line of credit was in theory used to not only make payroll but to make changes in the District’s financial systems to reform the system so that it could make payroll in the future.

Unfortunately, Eli Broad trained management used the District to implement its concept of how to run an urban district and returning the District to solvency was not a priority.

What seems unfair is that the State take-over management spent the $100 million line of credit but was not held responsible for mismanagement adding to the problems.

While managing the District the State was responsible for millions in State Ed Code non-compliance issues uncovered by State audits. The State in effect was making money off not solving the problems audits uncovered. It also ignored the problems with mishandling of cash and left the District $15 million in additonal debt.

Superintendent Chaconas was held accountable for the debt by being fired. The Teachers were to pressured to accept a pay cut or worse under take-over law. And, all students until 2023 were held accountable for paying down the $100 million credit line.

Is it not surprising that some would feel that mismanagement should be managements’ and not teachers’ and students’ responsibility?

The juxtaposing how bank bailouts were handled, and how the OUSD take-over was handled deserves attention. I support those OEA Members that want to bring that comparison to the public’s attention.

And, as education under the California Constitution is a responsibility of the State and the State is responsible for providing its citizens (including children) the equal protection of the law, I would support a law suit that makes frees future OUSD students from having to pay for the mistakes of management and not provide an equal education opportunity for all of California’s students.

Supporting the Bank action does not preclude your idea of lobbying for increased State funding. But, any such funding received will be diluted of course by the existing debt created by former administrations of the District and by the administration of the State.

Jim Mordecai

The teachers are diverting attention from their own day of reckoning. We need a system of merit based employment for teachers. Also teachers will not be spared the re-adjustment of retiree pension and health care benefits that governments can no longer afford. Are the teachers really more concerned with political gamesmanship than about critical thinking?

Catherine’s main point remains valid: The bailout of companies is, in fact, supposed to be paid back, or earned back. According to NPR, a little less than 1/2 has been recouped. http://marketplace.publicradio.org/features/bailout-follow-the-money/

More importantly, SCHOOLS DID GET A BAILOUT — that was what the fiscal stimulus plan was all about. Oakland High still has some stimulus money that it needs to spend, and there was an article in today’s Chron about stimulus money being used to fund school health centers, including at several schools in Oakland.

Moreover, much of the “bailout” money was “spent” by the Federal Reserve, which obviously cannot give money to schools; the Fed can deal only with financial institutions. Would schools REALLY be better off if the Fed had fiddled while Rome burned, as they did at the beginning of the Great Depression?

OEA should spend its time and efforts (and my union dues) on more effective lobbying than this. Eg: working to promote a state tax increase to fund schools, etc. That might accomplish something; this bank protest is just a feel-good exercise.

Actually, the banks still have not repaid a full $2 trillion. That’s about the same amount as the total debt of all states, counties, municipalities in the U.S. combined, including the unfunded liabilities of all public employee pension plans. This isn’t exactly a secret, but the mainstream media usually focuses only on the TARP. Anyway, don’t take my word for it. Here’s a link where you’ll find a breakdown of the total bailout:

http://sourcewatch.org/index.php?title=Total_Wall_Street_Bailout_Cost

Do a quick calculation of how much money the banks make on the trillions they’ve been loaned. It’s in the hundreds of billions of dollars. And funny thing, they’ve given out record bonuses in the past two years of economic slump that they triggered, while public programs have been cut and unemployment has soared.