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.

Three things you can do:

1)  Send a letter to the Senate to break up the banks

2) May 17:  Showdown on K street in DC, the political center of Wall street and corporate greed

3) June 22-26:  come to the

Continue reading Yes we CAN break up the big banks!

“If the people lead, eventually the leaders will follow.” 

Over the past year, JwJ coalitions have been calling for a break up of the “too big to fail” banks, new regulations that make the finance sector work for the economy and a large scale national jobs creation program.

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.

Rep. Paul Kanjorski from Pennsylvania is reportedly planning a similar bill. 

“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.