Tag Archives: Wall Street

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Consumer Financial Protection Bureau -Thank President Obama & Elizabeth Warren


This morning, a group of public servants showed up to work at a brand-new agency created to protect everyday Americans from the abuses of Wall Street.

They’re the folks of the Consumer Financial Protection Bureau, and they’ll be the cops on the beat protecting consumers from predatory credit card and mortgage lenders, bait-and-switch creditors, and anyone trying to make a quick buck by deceiving or manipulating Americans who are just trying to secure their financial future.

Many Americans don’t know it, but this bureau is just one part of a sweeping Wall Street reform law — the most pro-consumer and pro-taxpayer reform of our financial system since the Great Depression — that President Obama signed a year ago today.

Watch this video to get a quick overview of the law, and a briefing on the special interests trying to undermine it:

  http://youtu.be/STAm_6csuxc
Whether you watch the video or not, please share this email with someone.

It’s important that everyone knows what this law means for all of us. Simpler mortgages. Clearer credit card rates, fees, and rules. Fairer loan terms. It’s based on the simple idea that if you make sure that people get clear information, they’ll make the financial decisions that work best for them.

And we can all rest a little easier knowing that our common financial future is more protected from the irresponsibility of a few. This law made structural reforms to ensure that the financial crisis we experienced in 2008 never happens again and that taxpayers aren’t on the hook to pay for Wall Street’s risky bets.

It’s up to you to make sure more people know about this. Most Americans don’t have all the details on how this law is working for them, and it’s our job to change that.

Take a look, and be sure to pass this one on:

Amazingly, each and every Presidential candidate on the other side opposes this law.

And the same opposition that tried to block it more than a year ago is still alive and well.

Right now, lobbyists are at work trying to weaken the tough regulations this law imposes.

That’s no accident — its provisions are designed to rein in the Wall Street, credit card, and mortgage banking interests these people represent.

As we know, there aren’t a whole lot of high-powered lobbyists in Washington looking out for the common good of everyday families.

That’s exactly why this law is necessary, and why our growing organization in all 50 states is so important. It’s up to us to make sure our friends and neighbors know about it.!!!

Thanks,

Messina

Jim Messina

Campaign Manager

Obama for America

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Issa’s witch hunt flops – demand accountabi​lity …Ben Betz, People For the American Way


House Government Reform and Oversight Committee Chairman Darrel Issa has led one partisan witch hunt after another since his party became the majority and he became committee chair. But his latest grasping-at-straws attempt to shame Democrats has blown up in his face.

Rep. Issa accused Democratic appointees on the Financial Crisis Inquiry Commission (FCIC) — the independent commission established in 2009 to investigate the causes of the financial crisis — of financial mismanagement, disclosing confidential information, conflicts of interest and unethically pursuing a partisan agenda. But the documents produced in this investigation not only failed to substantiate these claims, they actually demonstrated improprieties by some of the Republicans on the Commission.

Now, Chairman Issa wants to brush it all under the rug and look the other way. We can’t let him!

Join PFAW‘s petition to the Government Reform and Oversight Committee now demanding that they investigate improprieties by Republican members of the FCIC.

Outrageously, upon canceling a committee hearing on the FCIC accusations, an Issa staffer was quoted as saying, “they had found some documents at the last minute that didn’t fit the narrative.” A report by committee Democrats, based on 400,000 internal FCIC emails, memos and other documents, shows that those documents didn’t just “not fit” Issa’s narrative, they outright refuted them!

Issa’s allegations of financial mismanagement, inappropriate disclosure and partisan conflicts of interest on the part of Democratic commissioners all turned out to be bogus — frivolous charges not based on evidence of any impropriety. HOWEVER, the same could not be said of Republican members of the Commission.

There is evidence that Republican FCIC Commissioners Peter Wallison and Bill Thomas violated ethics guidelines and shared confidential information about the commission’s work with political insiders and Republican consultants. And contrary to the FCIC’s mission, Republican Commissioner Wallison repeatedly urged his GOP colleagues on the FCIC to use their positions on the Commission to help Republicans in their efforts to repeal the Dodd-Frank financial reform bill.

Don’t let Chairman Darrel Issa get away with this blatant hypocrisy. His witch hunt failed, but now he, and his committee, MUST investigate evidence of improprieties and conflicts of interest by Republicans on the FCIC.

Thanks for standing up for justice and accountability — the American Way.

— Ben Betz, Online Strategy Manager

P.S. It’s hardly a surprise that partisan and corporate conflicts of interest have been found among Republican FCIC members — these are the same people who insisted on issuing a minority report of the Commission’s findings that whitewashed the findings of phrases like “Wall Street” and “deregulation” in an attempt to rewrite the history of the financial meltdown. But Chairman Issa decided to open this can of worms with his own ideologically driven attacks on the Commission’s Democratic members. Now, it’s his responsibility to do the right thing and hold the real culprits accountable.

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Rebuild the Dream …


I trust my neighbors more than any Wall Street bank, hedge fund, or oil company. I think we all do.

But we keep letting the banks and multinational corporations, and their high-priced lobbyists, call the shots in our economy.

You know what? I think they’re doing a terrible job. Now it’s time for us, the American people, to come up with our own vision.

So today we’re launching a new effort. And we need your help.

Our goal is to help create a “Contract for the American Dream“—a people-powered plan for creating an economy that works for ALL of us.

When it is completed, this document will be very special. For one thing: thousands of us will have created it TOGETHER, as a community of friends and neighbors.

You are an important part of this community, and you have a key role to play in this effort:helping to choose the best ideas for fixing our economy.

It won’t take long, and you don’t need to be an expert. Just visit our new site and rate which ideas you think will make a real difference. We have some great ideas from progressive leaders. And you can add your own, too. No idea is too big or too small, too tame or too out there. We need your brain engaged on this.
To help get started, former Labor Secretary Robert Reich made a short video about how we can invest in creating more good jobs.
Check it out, then help rate some proposals!

We’re building this Contract with a deep belief that folks like us—all across America—have enough wisdom and common sense to come up with workable solutions to our nation’s problems. By putting our heads together, and combining our best thinking on a national basis, we believe we can craft a plan that unites our struggles for economic fairness and opportunity.

The key to this idea working is simple: we need as many people as possible to participate. We need you to submit ideas and to give feedback. The more people who join in to help craft the Contract, the better it’s going to be.

This week we’re going to focus on four areas. We are starting today with good jobs. Over the coming days, we’ll look for solutions to problems in other areas—from education, to labor rights, to taxes.

Then, on July 16 and 17, thousands of Americans are going to gather in living rooms, community centers, and church basements across the country. In just ten days, people will discuss and help sort the top ideas we have generated together. Between now and then, it’s up to all of us to feed the very best, most creative, most inspiring ideas into the conversations.

Can you help right now—by rating ideas and submitting your own?

http://www.moveon.org

Thanks for all you do.

–Van Jones

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Stuck in a ditch …AFL – CIO


When your car breaks down in a ditch and you need it to get to work, what do you do?

A. Fix it, even if you have to responsibly take out a loan—and work harder over time to pay off the debt, even if it means taking a second job.

B. Stay in the ditch, throw a tantrum and default on your mortgage.

The economy still is reverberating from the deepest financial crisis since the Great Depression. But rather than work to fix our economy, congressional Republicans are willing to keep it in a ditch.

Two leading Republicans—Rep. Eric Cantor (R-Va.) and Sen. Jon Kyl (R-Ariz.)—recently left budget negotiations and are threatening to force default on our national debt if they don’t get their way.

Tell President Obama and congressional Democrats: Stand up to bullies. Don’t let working families get stuck in a ditch.   http://act.aflcio.org/salsa/track.jsp?v=2&c=UZ3aVnXHtxRDesymLrVOYnBq%2BlrJVD9v

When our economy’s broken, we need leaders who will fix it—not politicians who throw temper tantrums when millionaires and billionaires are asked to pay their fair share. Programs like Medicare, Medicaid and Social Security are not just lifelines for working people and poor families—they’re all that’s stopping our economy from falling off a cliff again.

With businesses not hiring and wages flat, every dollar in cuts will hurt the economy—and cuts that hurt middle-class and poor Americans will hurt the economy most. Some jaded Republican politicians are willing to let that happen. They figure that if the economy tanks, it’ll cost Barack Obama the 2012 election—and that’s all they care about.

To fix our economy, we can and should be building up the American middle class—not tearing it down. We need to educate our children, build a clean energy future and invest in 21st century American infrastructure that makes us competitive in the world. It’s time to act like the wealthy, compassionate, imaginative country we are—not let hypocritical politicians turn us into an impoverished nation.

Let President Obama and congressional Democrats know working people need them to reject radical demands and stand up to temper tantrums. Demand a fair budget deal that keeps our economy growing.    http://act.aflcio.org/salsa/track.jsp?v=2&c=qp3JHjN2szJ7nA9DG22cUHBq%2BlrJVD9v

Some congressional Republicans say they’ll accept a temporary default on our national debt to get the cuts they demand. But it’s a big lie. A temporary default would hurt Wall Street and Big Banks more than it would hurt working folks. And Wall Street controls enough of our politics these days that it will never happen.

The reality is, a deal will have to be reached soon to keep us from defaulting on our national debt—and if President Obama and congressional Democrats stand strong, that deal doesn’t have to hurt working families.

 Vice President Biden said, “We’re never going to get this done, we’re never going to solve our debt problem if we ask only those who are struggling in this economy to bear the burden and let the most fortunate among us off the hook.” We agree.  

Urge the president—and congressional Democrats—to keep standing with working families against bullies, and to protect America’s future.      http://act.aflcio.org/salsa/track.jsp?v=2&c=2I1tjcLTrunVxECYzq9tm11WX7swzlJA

Thank you for standing with us.

In Solidarity,

Richard L. Trumka
President, AFL-CIO

P.S. The ”Robin Hood in Reverse” budget ideas proposed by congressional Republicans are shocking:
Congressional Republicans want to end Medicare as we know it and put Americans at the mercy of private insurance companies. Congressional Republicans voted for a radical budget that would end Medicare and replace it with underfunded vouchers for private insurance. It would cause a typical 65-year-old to spend $6,359 more per year out of pocket for health care in 2022.
    
Congressional Republicans want hundreds of billions in cuts to Medicaid. These cuts would hurt millions of children and seniors in nursing homes. Medicaid is health care of last resort. It’s for poor kids and our most vulnerable senior citizens. It saves the lives of countless children each year and keeps senior citizens in quality nursing homes. According to Families USA, “Every federal Medicaid dollar that flows into a state stimulates business activity and generates jobs.” Cutting Medicaid will kill jobs—and there are way too few private-sector jobs to fill in the gap.
    
Congressional Republicans want to rob the Social Security Trust Fund. Social Security has a $2.6 trillion surplus—and will pay full benefits through 2037 if we just leave it alone. Even after that, it will pay 78 percent of benefits. It’s completely separate from the federal budget. We have time to make responsible fixes to shore up Social Security in the long term, separate from the immediate budget issues.

Tell President Obama and congressional Democrats: Don’t cut Medicare, Medicaid or Social Security. Make millionaires and billionaires pay their fair share.

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Protect Medicare … AFSCME e-Action Network


It’s truly scary.

The federal budget that was introduced by
Rep. Paul Ryan (R-WI) and passed in the House of Representatives last month
is being voted on in the Senate this week. And in all my years of working
in Washington, DC, I can honestly say that I’ve rarely seen anything this
alarming.

That’s why I need you to take just a minute and send a message
to your senators right now.

Protect MedicareYou’ve probably already heard about the Ryan budget
because of its radical proposal to eliminate Medicare as we know it. But
it’s worse than that. It’s clear that what he’s calling the “Pathway to
Prosperity” should really be named the “Pathway to Poverty,” given what it means
for most Americans. The Ryan pathway is a wrong turn for America. It only brings
more prosperity to insurance companies, Wall Street fat cats, and the wealthiest
companies and individuals in America while dumping the rest of us in a dead end.
It’s outrageous.

And it must be stopped in the
Senate: Please take action against this radical bill right
now.

  • Ryan’s budget includes deep
    cuts to federal programs that fund state and local governments at a time when
    many states are already in crisis, and more and more people need their services.
    It’s nothing short of
    another outright attack on public employees and the services we provide.
  • The non-partisan Congressional Budget Office estimates
    that Medicare beneficiaries’ premiums and other out-of-pocket expenses would double when compared to
    Medicare as it is now – from $6,150 to $12,500.
  • Ryan claims this bill would
    reduce the deficit by $4.3 trillion. What he doesn’t say is that it’s almost
    entirely wiped out by the
    $4.2 trillion in tax cuts to benefit the wealthiest Americans. Indeed, it would reduce the
    tax rate for prosperous corporations and reduce the tax rate paid by the
    wealthiest to its lowest level since 1931.

This budget proposal is so radical
that even some Republicans, like Newt
Gingrich, are distancing themselves from it. And while home during
recess, many of the House Republicans who voted for it (all but 4 did) were
taken to task at town hall meetings by the same people who voted for them last
November.

It’s clear
that the voices of working Americans are being heard and making a difference in
this fight. So please, speak out against this extreme proposal today by sending
a message to your senators. Let them know that you won’t stand by while Medicare, Medicaid,
and even Social Security are dismantled to pay for tax breaks for the rich and
subsidies to oil companies.

In solidarity,

Chuck Loveless
Legislative
Director
AFSCME