The big banks thought they killed financial reform last year, but through the efforts and activism of JwJ members and allies across the country, we were able to overcome $1.5 million a day of bank lobbying and we won the first round of the fight to take back our economy from Wall Street and the corporate agenda.
Now these same big money interests want to undo that victory by blocking appointment of Elizabeth Warren as head of the new Consumer Financial Protection Bureau (CFPB). Elizabeth Warren has served as the chair of the Congressional Oversight panel created to investigate the bank bailout, acting as an advocate for accountability and transparency. Warren was also one of the original advocates for the Consumer Financial Protection Bureau.
Why do the banks want to block her appointment? Because they areafraid she might actually protect consumers at the expense of bank and corporate profits.
There is certainly more to do in democratizing our banking system and making Wall Street Pay for causing the economic crisis, but if the banksters and corporate greed crowd succeeds
As the Senate takes up its banking reform bill (the House passed its bill 5 months ago), Senator Dick Durbin (D-IL), the number 2 Democrat, spoke in favor of an amendment to cut down the size of “too-big-to-fail” banks. JwJ mobilized thousands of letters to Senators last week in support of this amendment, known as the “Safe Banking Act,” sponsored by Senators Sherrod Brown (OH) and Ted Kaufman (DE).
For 2 years, Jobs with Justice coalitions have been calling for a break-up of the big banks, a tax on the Wall Street speculators that drove our economy into ruin, and a major federal program to save and create millions of good jobs.
We’re generating pressure, but Senate leaders have not yet agreed to even allow a vote on the amendment to limit the size of the banks.
Mass deportations and workplace raids continue to terrorize communities across the United States. Racist immigration policies further divide families and communities and force millions of people to live under the constant threat that any interaction with police—however minor—could lead to detention and even deportation.
On January 26th, hundreds rallied outside the Department of Homeland Security and dozens blocked streets to bring attention to the need for immigration reform NOW. The protest was organized by CASA de Maryland and brought activists from DC Jobs with Justice, Nakasec, National Day Labor Organizing Network, and more.
Mackenzie Baris of DC JwJ explained, “this broken immigration system not only hurts the individuals and families who are caught in raids, but also hurts all workers and the economy as a whole by allowing employers to exploit the differences in immigration status to take advantage of workers and deny their rights.”
Tuesday’s action also drew attention to The Trail of DREAMs. Drawing inspiration from the civil rights movement, four students are walking from Florida to DC to bring public attention to a failed immigration system that tears
More than a year after the big banks crashed our economy and took their bailouts (without delivering on the promised help for the economy), these bailout bandits are planning record bonuses and trying to block a recovery for the rest of us (note to Goldman Sachs: There is no such thing as a “jobless recovery”).
On Wednesday, the House of Representatives is expected to vote on the Consumer Financial Protection Agency and other measures to add some accountability and responsibility to our financial system. The bill is called the “Wall Street Reform and Consumer Protection Act” (HR4173).
The bailout bandits, of course, are furiously fighting all these reforms.
Senator Sanders of Vermont is following the lead of the people in introducing a bill to break up the banks that would be “too big to fail.”
The bill would give the Treasury Department 90 days to identify any financial institution that might be ‘too big to fail,’ and then a year to break up all those institutions.
“Trust Buster” Teddy Roosevelt broke up about 40 mega-institutions (his successor President Taft more than doubled that number), understanding that they were a threat to both democracy and the economy.
Let’s hope our leaders follow the people. Now THAT would be change we can believe in.
Activists will be in the streets of Chicago tomorrow to protest the American Bankers Association meeting. These banks took bailouts that add up to $15,000 for every man, woman, and child in the U.S. They claimed they were “too big to fail.”
The reality is that these corporate criminals are too big and powerful politically. Explaining why even minor reforms have been bottled up in Congress, Senator Durbin from Illinois admitted that the banks “frankly own the place.”
First our political leaders said health care reform would cover everyone. Now we hear that Congress is considering barring legal immigrants from health reforms that would enable low and moderate income families to secure affordable coverage.
As the House of Representatives moves to finalize its health reform legislation this week, immigrants continue to be left out. As it stands now, most recent legal immigrants are forced to wait 5 years to use Medicaid, Medicare, and CHIP, even though they pay the same taxes as citizens to support these programs.
Your voice is needed to urge the House of Representatives to act right now to give immigrants a fair opportunity for affordable health insurance.
The big banks thought they killed financial reform last year, but through the efforts and activism of JwJ members and allies across the country, we were able to overcome $1.5 million a day of bank lobbying and we won the first round of the fight to take back our economy from Wall Street and the corporate agenda.
