On this day in history, the U.S. launches a 2003 attack on Baghdad, Iraq; In 1987 televangelist Jim Bakker resigned as chairman of his PTL ministry organization amid a sex-and-money scandal involving a former church secretary, Jessica Hahn; The State of Nevada legalizes gambling in 1931; In 1962 Bob Dylan's self-titled debut album was released by Columbia Records.

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Transcript:

From the Debtor's Jungle:

We are the Invisible Army of Defaulters. We are your neighbors. We are your family, your friends. We are millions. We are everywhere. We are going to bring the system to its knees. We can, because we wield the one power that all the armies of the world can never defeat: The power of refusal. This power has destroyed the mightest empires. The same fate awaits the current system of mafia capitalism in America, an economic system driven by Wall Street CEOs who produce nothing, contribute nothing, who have bought our government and reduced it into a criminal enterprise whose main purpose is to support loan-sharking, gambling, extortion, and the slow reduction of American citizens into debt peons. Every dollar we take from a subprime mortgage speculator, every dollar we save from a collection agency is a tiny piece of our own lives and freedom that we can give back to our communities. To be able to take care of our children, our friends, our families is a value that no accountant can ever measure, that no government, loan administrator, or hedge fund manager can ever have the right to take away from us. We are an army of lovers who cannot be defeated. We are laying the groundwork for another world. Strike debt.

Resist. Insist. Stand together. Build. Never give up. #S17.

Good morning! Today is Saturday, May 19, 2012. Beautiful weather for an Occupy march.

JPMorgan Chase CEO Jamie Dimon has been one of the most outspoken critics of the Volcker Rule, a section of the Dodd-Frank Act that aims to keep the banks in which you deposit your money from gambling it on their own sometimes-risky investments. Now Dimon has announced that risky trades have cost his company $2 billion in losses. In this April 22, 2012 Moyers Moment from Moyers & Company, Paul Volcker himself responds to Jamie Dimon’s complaints about the rule and its effects.