News from The Hill: Liberal lawmakers highlight Defense fraud report to influence supercommittee cuts

News from The Hill: Liberal lawmakers highlight Defense fraud report to influence supercommittee cuts By John T. Bennett  Liberal lawmakers will soon send the congressional deficit panel the details of a Pentagon report that shows defense firms over the last decade ripped off the military to the tune of $1.1 trillion, Democratic sources told The Hill. Pro-military lawmakers from both parties have warned the supercommittee to avoid Pentagon spending cuts beyond the $350 billion ordered by the August debt deal. But several Senate Democrats want the panel to keep in mind that dollars sent to the Pentagon are often lost to fraud and waste, even as some conservatives raise the possibility of retroactively exempting the Pentagon from the $600 billion cut that will be triggered if the supercommittee fails. Read the complete story here. For all the latest news: Visit TheHill.com  Follow @TheHill on Twitter Like The Hill on Facebook

News from The Hill: Liberal lawmakers highlight Defense fraud report to influence supercommittee cuts

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Cadie Thompson - CNBC.com: Occupy Wall Street Backs a Nationwide Boycott Against Banks

http://www.cnbc.com/id/44800021/Occupy_Wall_Street_Backs_a_Nationwide_Boycott_Against_Banks

Occupy Wall Street Backs a Nationwide Boycott Against Banks

Published: Friday, 7 Oct 2011 | 1:21 PM ET

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By: Cadie Thompson
Producer, CNBC.com

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In an effort to send a message to big banks, some organizers, who are supported by the protestors of the Occupy Wall Street movement, have organized an event to remove all funds from banks and into credit unions.

Organizers are calling the event "Bank Transfer Day"and are encouraging people nationwide to participate November 5.

The Facebook page for the event states the following:

"Together we can ensure that these banking institutions will ALWAYS remember the 5th of November!! If the 99% removes our funds from the major banking institutions on or by this date, we will send a clear message and give the 1% a taste of the fear that we experience every day when we aren't able to pay for our rent, food, medication, utilities, student loans, etc."

So far over 6,500 people have RSVP'ed for the event.

The participants of "Bank Transfer Day" take issue with the response of big banks' to theDurbin Amendment, which is an addition to the Dodd–Frank Wall Street Reform and Consumer Protection Act that caps the debit interchange fees banks can charge merchants.

The organizers claim the banks will begin to charge their customers $3-$5 fees to off-set the money they will lose because of the interchange fee cap.

The event's Facebook page states:

http://www.cnbc.com/id/44800021/Occupy_Wall_Street_Backs_a_Nationwide_Boycott_Against_Banks

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