Are the Banksters Too Big to Jail

Building Momentum for Bank Reform and Jobs

For decades, the big Wall Street banks had Congress in their back pockets while they wrecked the economy and pushed millions out of jobs and homes.  But momentum is building to break them up, rein them in and make them pay for their corporate crimes.  In March and April, hundreds of protests across the country at banks, on Main Streets and at post offices on Tax Day are starting to make an impact.

• After the SEC charged Goldman Sachs with civil fraud, Re. Marcy Kaptur (D-OH) and others sent a letter to Attorney General Eric Holder to start a criminal investigation — the kind that can result in jail time, not just the fines that these banks consider a cost of doing business.
• The banks are losing their grip on Congress … let’s keep it up!  Some candidates have been forced to return campaign cash from Goldman Sachs and others.  The big banks were toxic to our jobs and homes.  We need to continue to make them politically toxic as well.

Jobs with Justice is continuing to mobilize with our partners in the coming weeks:

• April 27 in San Francisco, CA: JwJ is working with PICO, AFL-CIO, SEIU and others to bring thousands of people to the Wells Fargo shareholders meeting.
• April 28 in Chicago, IL: JwJ and the Chicago Federation of Labor are marching on Bank of America and the Federal Reserve to “Make Wall Street Pay”
• April 29 in New York, NY: JwJ is joining the AFL-CIO, National Peoples Action and others to mobilize thousands in a march on Wall Street
• May 17 in Washington, DC: JwJ is working with unions and NPA to shut down K Street, the political epicenter of corporate and Wall Street greed.
• June 22-27 in Detroit, MI: JwJ is working with labor and allies to plan a jobs march, workshops, and more at the US Social Forum.

We’re beginning to shift the balance of forces, but we have a long way to go.  The Senate is now taking up a financial reform bill that has some good elements, but should be strengthened to include:

• a strong, independent Consumer Financial Protection Agency (not under the control of the Federal Reserve);
• ending “Too Big To Fail” by breaking up the big banks (e.g. the “Safe Banking Act” introduced by Senators Brown (OH), Kaufman, Casey and Whitehouse;
• stronger rules on derivatives regulation and other measures.

TAKE ACTION NOW! Tell Congress to Create millions of good new jobs, tax the Wall Street speculators that broke our economy, and reign in the Big Banks and protect consumers.