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Showing posts with label too big to fail. Show all posts
Showing posts with label too big to fail. Show all posts

01 January 2016

PCCC's / PROGRESSIVE CHANGE CAMPAIGN COMMITTEE's TOP 10 HIGHLIGHTS OF 2015 & The Left’s Quest to Create Hundreds of Elizabeth Warrens 31DEC & 2AUG15


THE PCCC / Bold Progressives have been working hard in 2015 to have a major influence in the 2016 elections, from the presidential to congressional, state and local elections. Our support of +Senator Elizabeth Warren D MA got her appointed to the Democratic National Committee so we now have a powerful voice influencing the party's platform and agenda. +Senator Bernie Sanders I VT presidential campaign is being supported by the PCCC. Below are some of the highlights of 2015, check out the PCCC website for more on our progressive policies, actions and candidates and join the movement to restore America to our full potential for all Americans, not just the 1%. Followed by the +TIME article on the PCCC.....

This New Year, let’s be proud of what we did together in 2015!

PCCC Top Ten of 2015

Bernie Sanders holds Big Ideas sign.
1. Big Ideas Project:
Democrats lost the 2014 election because they lacked big ideas that inspire voters. So the Progressive Change Institute launched the Big Ideas Project, calling for a bold new agenda. PCCC members submitted their own ideas and voted on others, casting over one million votes.
Polling showed that big progressive ideas are popular with Democrats, Independents, and Republicans alike. These results were shared with dozens of members of Congress and presidential campaigns -- leading to many high-profile endorsements of the big ideas submitted by PCCC members.

Hillary Clinton debt-free college TV ad.
Historic first: TV ad for debt-free college

Students across the country took action to demand debt-free college
We organized events on campuses.
2. Debt-Free College Campaign:
One of the most popular ideas from the Big Ideas Project was debt-free college -- the idea that students should be able to graduate from any public college or university without debt.
Thanks to your phone calls, letters to the editor, and nearly half-a-million petition signatures, as well as a strong lobbying effort and coalition of allies like Demos and Democracy for America, we now have over 100 congressional co-sponsors on a resolution calling for debt-free college! Plus all 3 Democratic presidential candidates have called for debt-free college, legislators in 10 states are planning their own local efforts, and TV ads are hitting the airwaves. By next year, there will be a major mandate in this country for debt-free college… because of you.
As Bloomberg News reports, “The phrase ‘debt-free college’ was hardly present in the national political lexicon until the Progressive Change Campaign Committee launched a campaign in January to push Democrats to support the idea.”

3. Impact on the Presidential Debates:
We’ve been pushing these “big ideas” into the political mainstream, and the presidential debates are one great example of our success.
In all three Democratic debates, the candidates brought up issues like debt-free college, expanding Social Security, and Wall Street accountability! Meanwhile, our “Twitter army” helped spread bold progressive messages, sending thousands of tweets to 125 key reporters before and during the first debate -- helping to shape the narrative for the presidential race.
Sneak preview: In 2016, get ready for Open Debates -- where moderators ask questions directly submitted and voted on by the public.

Elizabeth Warren, Adam Green, Stephanie Taylor, and trainees at the PCCC's National Candidate Training.
Sen. Warren at National Candidate Training

Candidates at the PCCC's National Candidate Training.
Candidates at the 2015 Candidate Training
4. National Candidate Training
Who could forget the National Candidate Training?
Nearly 200 local, state, and federal candidates gathered in Washington DC for four days of intensive work in fundraising, messaging, and field. The training gave these bold progressives all the tools they need to win. The candidates even took professional headshots and launched their websites with the help of our talented team.
If you are a potential candidate, or know a progressive candidate who might benefit from our trainings, the application is here.
For a trip down memory lane, check out the TIME magazine article about our “quest to create hundreds of Elizabeth Warrens” here.

5. Big Improvements in Campaign Software:
How do we support these "hundreds of Elizabeth Warrens"? We give them our easy-to-use campaign software!
Candidates can now design their own website, run their own email program, manage their endorsements and press contacts, and download templates and guides. We use this software to help hundreds of progressive candidates running for local, state, and federal office all over the country. If you are running for office (or know someone who is) you can request your own account here.

PCCC video with Al Franken speaking on debt-free college.
Al Franken teamed up with PCCC members.
6. Net Neutrality Victory:
Americans won a huge victory in February when the Federal Communications Commission (FCC) issued a rule that stopped cable and phone companies from speeding up some web services while slowing down others -- making Net Neutrality the law of the land.
When a reporter asked President Obama about the PCCC's activism, the White House urged the FCC to do the right thing. Working with a big coalition, PCCC members gathered 147,000 petition signatures, submitted 25,000 public comments to the FCC, and made thousands of phone calls to members of Congress. We also partnered with Hollywood celebrities, video gamers, and political heroes like Sen. Al Franken to mobilize the public on this issue. What a great win!

7. Ready for Boldness:
In March and April, over 5,000 political leaders signed our “Ready for Boldness” letter, calling on all Democratic presidential candidates to run on “big, bold, economic populist ideas” like debt-free college, expanding Social Security, and breaking up big Wall Street banks.
This received media attention everywhere from the New York Times to MSNBC -- and set the tone for the 2016 election. Nearly 50,000 PCCC members signed on, creating extra momentum! (At the same time, the number of Senate Democrats who support expanding Social Security jumped from 7 to 42! Huge momentum for bold ideas!)

Elizabeth Warren, Keith Ellison, Raul Grijalva, Adam Green, Stephanie Taylor
PCCC Co-Founders with the "Warren wing" of American politics
8. We Hired Progressive Lobbyists:
Elizabeth Warren often points out that Wall Street has hundreds of lobbyists in Congress. We’re fighting back.
Thousands of PCCC members donated to help hire two progressive lobbyists on Capitol Hill, to build a staff for P Street -- the progressive alternative to K Street.
When you hear about 100 members of Congress supporting debt-free college, other big ideas from PCCC members being introduced in Congress, or media events that highlight heroes like Elizabeth Warren, you can thank this progressive lobbying operation -- and the PCCC members who made it happen!

Solidarity Panel at the PCCC's National Candidate Training.
Solidarity Panel with representatives from Planned Parenthood and Black Lives Matter
9. Solidarity with Planned Parenthood and Black Lives Matter:
When Rep. Hank Johnson introduced his proposal for special prosecutors to investigate police killings, PCCC members took action in support of that bill.
When Planned Parenthood was under attack -- both verbally from Republicans in Congress, and literally from domestic terrorists -- we responded by raising tens of thousands of dollars directly for Planned Parenthood.
PCCC members have stepped up this year in solidarity with these two movements.

Joseline Peña-Melnyk at the National Candidate training
Joseline Peña-Melnyk, one of our early endorsed candidates, takes part in our Advanced Candidate Training
10. 2016 Endorsements:
Thousands of PCCC members donated a combined $600,000 to the first 2016 “Warren wing” candidates.
We endorsed great progressives early in their U.S. Senate races -- Russ Feingold in Wisconsin and Donna Edwards in Maryland. And we endorsed three progressive champs running in competitive U.S. House primaries -- Joseline Peña-Melnyk (MD-4), Jamie Raskin (MD-8), and Susannah Randolph (FL-8).
Our team is now working deeply with all these candidates to make sure their campaigns are as strong as possible. Get ready for more “Warren wing” endorsements in 2016!

We accomplished so much together in 2015. And we look forward to more big fights and progressive victories together in 2016!
Thanks for being a bold progressive. And Happy New Year!
Stephanie, Adam, Sarah, Kayla, Lacey, Keith, Kenton, Marissa, Ethan, Jackie, DeVeria, Max, Jen, Courtney, Ryan, Ian, Summer, Doug, Abby, and Molly.
 (The PCCC Team)

Want to support the Warren wing? Senator Elizabeth Warren says, "When PCCC members donate millions in small-dollar donations and make millions of phone calls for progressive candidates, leaders in Washington, they take notice." Chip in $3 here.
Paid for by the Progressive Change Campaign Committee PAC (www.BoldProgressives.org) and not authorized by any candidate or candidate's committee. Contributions to the PCCC are not deductible as charitable contributions for federal income tax purposes.

The Left’s Quest to Create Hundreds of Elizabeth Warrens

Federal Reserve Chair Janet Yellen Delivers Semiannual Report On The Economy To The Senate Banking Committee
Bloomberg—Bloomberg via Getty Images Senator Elizabeth Warren, a Democrat from Massachusetts, listens to Janet Yellen, chair of the U.S. Federal Reserve, during her semiannual report on the economy to the Senate Banking Committee in Washington, D.C., U.S., on Thursday, July 16, 2015.
“Elizabeth—she’s here?”
The thumbs up came from the back of the meeting room, and two hundred future Sen. Elizabeth Warrens stood up and waited for their prototype to enter. Spindly and with a bouncy step, the Massachusetts senator strode rapidly into the room and was waylaid by a friendly sea of imperfect facsimiles calling for selfies. “What a way to start the morning!” Warren said at last, breathless at the podium.
Warren was stopping by a conference on Thursday just a 10-minute walk away from the Capitol building in Washington DC, where the goal was unabashedly to bolster the Warren brand of the Democratic party. In the belly of the swank Washington Court Hotel—also the host of a recent events for steel wire producers and the beef industry—progressive candidates for municipal and state office across the country had gathered for a four-day affair to create a surge of Democratic candidates in municipal and state elections, and build a movement of rookie Warrens.
The conference, organized by the advocacy group Progressive Change Campaign Committee, was intended to train candidates and activists from states far flung as Wisconsin and Louisiana to run for office and eventually shape national policy. TIME was one of the only publications granted access to the meeting.
Much of the focus was on the nuts and bolts of effective campaigning and fundraising. Questions flew: Do candidates need to fundraise within their own district? How much time should candidates spend on fundraising calls? How do you best target voters during get-out-the-vote efforts? Should candidates’ events have red wine, or are cookies enough? The PCCC offered candidates who attended back-end internet tools replete with website templates, and readymade email blasters and event managers.
And Warren was the star attraction. “You are the progressive bench, and we need a bench,” Warren told them. Dozens of attendees wore identical blue shirts that said, I’m from the Elizabeth Warren wing of the Democratic party. “Elizabeth Warren is the North Star,” said Adam Green, co-founder of the PCCC. And the enthusiasm for Warren has spilled over all across the left: “I want to clone Elizabeth Warren into every candidate,” said Tefere Gebre the executive vice president of the AFL-CIO, in an interview with TIME two weeks ago.
In the Washington hotel, building an army of Warrens to challenge establishment-backed Democrats was exactly the point. “Yes, this is about building campaigns and winning office, but this is also about building a movement,” Warren said during her keynote on Thursday. “You are the living spark of the progressive movement.” It was a sentiment made clear by the conference organizers. “How do we elect 300 more Elizabeth Warrens?” said Stephanie Taylor, the co-founder of the PCCC who dreamt up the conference. “This training is part of it: finding them and giving them the tools to run great campaigns.”
Movement-building with Warren in the lead is in part about catching up to conservatives. Republicans can boast of presidential candidates Ted Cruz and Rand Paul, Rush Limbaugh and a formidable coalition of right-wing legislators threatening to unseat their house speaker. Meanwhile the left has a few big-city mayors, a struggling cable network (MSNBC), handful of legislators (Sherrod Brown, Keith Ellison) and a upstart presidential candidate, Sen. Bernie Sanders, who counts Eugene V. Debs and the nation of Denmark among his biggest influences. And Warren, the progressive nonpareil, has refused to run for the White House.
Anger over the Obama years is a key motivator for conservatives. The stimulant on the left is made of a milder sauce, namely, disappointment over the Obama years, and many progressive ideals have faltered in Congress and on their way to the White House.
Republicans have taken notice of Warrens influence over Democrats. While the activists met in Washington, her name came up on the Republican campaign trail in Cedar Falls, Iowa. “The fact is the Democratic Party has a problem,” New Jersey Gov. Chris Christie said. “Their problem is that Elizabeth Warren is taking over that party.”
“They’re all running to be just like Elizabeth Warren,” he added, saying that Hillary Clinton has borrowed from Warren’s playbook on the campaign trail.
Though Warren was only present for the first hour of the four-day training session, her name came up again and again. When she ran for Senate in 2012, Warren liked to make fundraising calls from her kitchen at home while boiling a pot of tea and wearing a headset, an alumna of Warren’s fundraising team, Sarah Badawi, told trainees. Joel Silberman, a speech trainer, said in a session that when he consulted Warren before a Massachusetts state convention speech, he told Warren a trick to cure nerves: count the number of steps to the podium.
Taylor and Green of the PCCC once sat on Warren’s front porch and shared lemonade and iced tea to convince her to first run for Senate, Warren noted during her address. The former director of research for Warren’s senatorial campaign, Peter Jones led a class on opposition research. (A quick Google search on Warren’s defeated opponent for Senate, Scott Brown, shows him shirtless in photos hawking diet pills, a fact that Warren recently noted in a speech.)
Most of those hoping to follow Warren’s lead at the conference don’t look anything like her or share her Ivy League background. There was the black state senator who represents Ferguson, an Indian-American candidate for Congress from a Detroit suburb, and as many pairs of sneakers as suits. Union organizers, mothers, climate activists, feminists and campaign staffers were in Washington from Vermont and Georgia.
“You are a part of a global re-owning of a populist, progressive vision of America,” said Zephyr Teachout, chief executive of the Mayday PAC which aims to get money out of politics.
Many at the conference argued local victories could sway their states, and ultimately, Congress. Over a lunch of ravioli and tagliatelli with lemon sauce and iced tea, two attendees from Rhode Island debated the merits of the conference. “The more states have something like paid leave, and it’s successful, the more likely we’ll be able to get Congress to move it forward,” Shandi Hanna, an activist at the Women’s Fund of Rhode Island. “We need to infiltrate the system and change it.”
“You look around this room people—the people I’ve met makes me realize the country is moving in a good direction,” said Margaux Morisseau, a candidate for Rhode Island state Senate.
So far, the left has been unable to create the kind of movement that caught fire on the right after President Obama’s election. But in some ways, things have changed in recent years. Cities and states like California and Rhode Island are requiring businesses to provide paid family leave; activists in New York, Los Angeles and Seattle have with mixed success pushed for a $15-minium wage; Bernie Sanders has attracted crowds of 10,000 and more in purple and red states like Wisconsin and Arizona. To progressives, those are signs of shifting winds. “People will start to realize there’s a change happening from underneath. They’ll either have to evolve or die,” said Chris Larson, a state senator in Wisconsin.
Some date the recent wave in progressive activism back to Howard Dean’s 2004 campaign. A left-backed candidate, Dean’s loss in the primary spawned Democracy for America, a progressive PAC. The past five years has seen a slow increase in organizational support for progressive Democrats. DFA, MoveOn.org, Progressive Majority also aim to train progressive candidates for office.
It’s Warren’s message that has helped motivate them in recent years, and attendees repeatedly mentioned Warren’s name during the conference. “We can whine about this, we can whimper about this, or we can fight back,” Warren said Thursday. “I’m fighting back!”
The goal, of course, is victory against Republicans, and against old-line Democrats in primary contests. If they win, it will come the way of conquerors of old: by conversion, or a rout.
“It’s our movement,” said CM! Winters Palacio, a Chicago librarian (with punctuation in her first name) who is running for City Council and says she is facing pushback from the moderate Democratic mayor, Rahm Emmanuel. “We will eat the elephant one bite at a time.”

05 September 2015

Sign if you agree: This ends when I am President from BERNIE 2016 5SEP15

Bsan-dk-petition-v3-575x411
SEN BERNIE SANDERS I VT is committed to fixing our financial system, here is a brief outline of what he will do when he is elected President. You can find more on his political platform at Bernie 2016


Endorse Bernie's plan to take on Wall Street, break up the big banks, and restore sanity to our financial system.
Wall Street's greed, recklessness, and illegal behavior drove this country into the worst recession since the Great Depression. For too long, this billionaire class has corrupted our political system. We must act decisively to make our economy fair again.

Wall Street's dangerous manipulation of our economy has helped divert most of all new income to the top one percent, contributing to the most unequal level of wealth and income distribution of any major country on earth.

Today, we live in the richest country in the history of the world, but that reality means little because much of that wealth is controlled by a tiny handful of individuals. The skyrocketing level of income and wealth inequality is not only grotesque and immoral, it is economically unsustainable.

The reality is that for the past 40 years, Wall Street and the billionaire class have rigged the rules to redistribute wealth and income to the wealthiest and most powerful people in this country. As a result, Wall Street exists as an island unto itself, benefiting only the extremely wealthy while using our money to get rich.

That ends when I am president. Let me tell you what I'm going to do, then sign on to endorse my plan to take on Wall Street.

Tax Wall Street Speculation to Make College Tuition Free

Too many firms on Wall Street using high-speed trading to try to make a quick buck. But it's risky and unproductive. Banks can execute thousands of stock trades a second thanks to sophisticated computer algorithms.

Wall Street can keep doing this if it wants—but they'll have to pay a tax on every one of those trades. And this tax on Wall Street speculation would be enough to pay for my plan to make tuition free at every public college or university.

Break Up Banks that are Too Big to Fail

In the midst of all of this grotesque inequality in our country sits a handful of financial institutions that are still so large, the failure of any one would cause catastrophic risk to millions of Americans and send the world economy into crisis.

Most of the major Wall Street financial institutions that we bailed out because they were "too big to fail" are now bigger than they used to be. The six largest financial institutions now have assets equivalent to nearly 60% of our GDP, issue 35% of the mortgages, and oversee 65% of credit cards.

My view: If it's too big to fail, it's too big to exist. That's the bottom line. As president, I will break up the big banks and restore some sanity to our banking system.

Make Banking Boring: Reign in the Recklessness

Banking should be boring. It shouldn't be about making as much profit as possible by gambling on esoteric financial products. The goal of banking should be to provide affordable loans to small and medium-sized businesses in the productive economy, and to Americans who need to purchase homes and cars.

That is not what these huge financial institutions are doing. They're instead creating an economy which is not sustainable from a moral, economic, or political perspective. It's a rigged economy that must be changed in fundamental ways.

We need banks that invest in the job-creating productive economy. We do not need more speculation with the American economy hanging in the balance.

Unrig the Tax System

Our tax system is wildly unfair — rigged to benefit the very rich. Major corporations that earn billions in profits stash their money in tax havens and pay nothing in federal income taxes, while billionaire hedge fund managers pay a lower effective tax rate than nurses or teachers.

In order to reverse the massive transfer of wealth and income from the middle class to the very rich that we have seen in recent years, we need real tax reform which makes the wealthy and profitable corporations begin to pay their fair share of taxes. It is fiscally irresponsible that the U.S. Treasury loses about $100 billion a year because corporations and the rich stash their profits in the Cayman Islands, Bermuda and other tax havens.

We need a tax system which is fair and progressive. Children should not go hungry in this country while profitable corporations and the wealthy avoid their tax responsibilities.

We Can Do This

The issue of wealth and income inequality is the great moral issue of our time, it is the great economic issue of our time, and it is the great political issue of our time.

I can understand how this might feel daunting. We are up against a billionaire class that has bought our political system to enrich itself, and is now faced with the breakup of their oligarchy.

Know this: when people come together to organize, we can beat any amount of money thrown around by the Koch Brothers, Goldman Sachs executives, or anyone else.

Our political revolution is underway, and when it is built, we will win not just against Wall Street, but we will win the White House.

Add your name to endorse my plan to take on Wall Street and the billionaire class.

We can do this. Thank you for standing with us.

In solidarity,
Bernie Sanders






Paid for by Bernie 2016
 

26 April 2014

"Over 300K home owner suicides attributed to foreclosures." 25APR14

 
WHILE it seems this chain e mail is targeting wall street and the bank-financial cabal, spreading false information doesn't do the cause any good at all. The American people are right to be angry about the bailout of the "too big to fail, too big to jail" banks and their executive boards, but to spread falsehoods like this only make the movement look stupid, dishonest and extreme. From PolitiFact.....
The Truth-O-Meter Says:
Facebook posts

"Over 300K home owner suicides attributed to foreclosures."

Facebook posts on Friday, April 25th, 2014 in a meme shared on social media

Social media meme says 300,000 suicides are attributable to foreclosures

A reader recently asked us to check a social media meme with a striking statistic about foreclosures and suicides.
It said, "1.4 million homes stolen by banks since 2008. Over 300K home owner suicides attributed to foreclosures. Why won't anyone defend these American property owners' rights?"
Have there really been 300,000 suicides linked to foreclosures? We decided to take a look.
We first checked with the group credited with creating the meme -- a news and opinion site called occupycorporatism.com -- but an email to the site’s general inbox was not returned.
So we next checked annual death statistics from the Centers for Disease Control and Prevention. The most recent report came out in December 2013, covering statistics for 2010.
For 2010, CDC found that suicide was the 10th most common cause of death, with 38,364 cases. Here’s the number for the past nine years:

Year
Suicides
2010
38,364
2009
36,909
2008
36,035
2007
34,598
2006
33,300
2005
32,637
2004
32,439
2003
31,484
2002
31,655
Total, 2002-10
307,151

So the total number of suicides from 2002-10 is around 300,000. But for the meme to be correct, you’d have to believe that every single American suicide between 2002 and 2010 was caused by a foreclosure.
Of course, that assumes there was a reliable way to measure this kind of causal effect. (The CDC reports don't address what caused a person to commit suicide.) And the meme is even further off-base it it intends to be referring only to suicides since 2008.
We asked several experts whether the meme's claim was even remotely possible.
"There is no basis for this claim," said Douglas Massey, a population-research professor at Princeton University.
"It isn't plausible that every suicide over a nine-year period could be attributed to foreclosure," agreed Janet M. Currie, a Princeton University economist who, along with Erdal Tekin of Georgia State University, has studied the health impacts of the rising tide of foreclosures in the United States. Tekin expressed similar skepticism when contacted by PolitiFact.
In their own research, Currie and Tekin found that a location with about 400 foreclosures in a year might see 24 more medical visits for mental health conditions, including suicide attempts. But that wouldn’t be enough to support the meme’s claim, Currie said.
Our ruling
The meme said that over 300,000 homeowner suicides are attributable to foreclosures. But that would mean every suicide over a nine-year period would have been caused by a foreclosure, and experts say that’s not credible. We rate the claim Pants on Fire.
About this statement:
Published: Friday, April 25th, 2014 at 4:52 p.m.
Subjects: Economy, Health Care, Housing, Public Health
Sources:
Social media meme submitted to PolitiFact
Centers for Disease Control and Prevention, annual reports on deaths, 2002, 2003, 2004, 2005, 2006, 2007, 2008, 2009, 2010
American Foundation for Suicide Prevention, "Facts and Figures," accessed April 25, 2014
Wall Street Journal, "Tying Health Problems to Rise in Home Foreclosures," Aug. 31, 2011
Huffington Post, "Foreclosure Related Suicide on the Rise," July 17, 2012
Email interview with Douglas Massey, Princeton University professor of population research, April 25, 2014
Email interview with Janet M. Currie, Princeton University economist, April 25, 2014
Email interview with Erdal Tekin, economist at Georgia State University, April 25, 2014
Written by: Louis Jacobson
Researched by: Louis Jacobson
Edited by: Aaron Sharockmanhttp://www.politifact.com/truth-o-meter/statements/2014/apr/25/facebook-posts/social-media-meme-says-300000-suicides-are-attribu/

11 April 2014

Consumer Financial Protection Bureau Fines Bank of America $772 Million For Credit Card Scams 9APR14

republicans and tea-baggers fought against it, third way democrats stood on the sidelines and watched the struggle, but Elizabeth Warren led the American people to victory and the CFPB / Consumer Financial Protection Bureau was established and funded to protect us from wall street and the bank-financial cabal. Here is a victory to celebrate and another reason to support Bold Progressives in the 2014 midterm elections!
Check out this video Elizabeth Warren Challenges Treasury Secretary Lew on Too Big To Fail
  ericlewis0
Bank of America Logo
From The New York Times:
Bank of America has been ordered to pay roughly $772 million in refunds to customers and fines to federal regulators to settle allegations that the bank used deceptive marketing and billing practices involving credit card products. The Consumer Financial Protection Bureau said that Bank of America “illegally charged” its customers for credit monitoring and credit reporting services that were not received.
As part of a consent order with the agency announced on Wednesday, the bank was ordered to give refunds to more than a million customers who purchased these add-on products for their credit cards.
The bank must also pay a $20 million fine to the Consumer Financial Protection Bureau and $25 million to the Office of the Comptroller of the Currency.
http://dealbook.nytimes.com/...
The bank was doing some outrageous stuff - if you told a telemarketer that yes, you'd like to "find out more" about some insurance product, they went and signed you up for it! Customers were also told that the first 30 days of a service were free! Except they were charged.
It quickly becomes obvious why the too-big-to-fail banks tried so hard to kill the Consumer Financial Protection Bureau in its crib.
http://www.dailykos.com/story/2014/04/09/1290922/-Consumer-Financial-Protection-Bureau-Fines-Bank-of-America-722-Million-For-Credit-Card-Scams?detail=email

23 May 2013

Elizabeth Warren: Break up the big banks, SIGN ON: SUPPORT THE BROWN-VITTER BILL TO END "TOO BIG TO FAIL" 22MAI13

SEN ELIZABETH WARREN D MA continues to hammer away at the bank-financial cabal and the cowards at the US Treasury and Justice departments and the SEC. She is not owned by wall street and is not afraid of them, and it shows in her persistent and intelligent questioning of bank, Treasury, Justice and SEC officials on the economic and financial crimes committed against the American people and the lack of prosecution of the criminal executives that continue their reign over the economy, waging class warfare on the American people. There is still time to charge those responsible for the near total collapse of the American economy with fraud and other financial crimes, and Sen Warren and others are right in calling for the big banks to be broken up.  Check out the video of Sen Warren grilling Sec of Treasury Jack Lew and sign the petition showing your support for her efforts to reign in the corrupting power of the bank-financial cabal and break up the banks that have been described as too big to fail....


Justice is not peripheral to God's story. Justice — in its various forms — is mentioned over 200 times in the Scriptures. It's not optional, it's central. Seek justice.

-Eugene Cho





Watch Elizabeth Warren grill the Treasury Secretary
Stand with Elizabeth Warren
Yesterday, Elizabeth Warren did it again.
In another moment sure to go viral on YouTube, she grilled Treasury Secretary Jack Lew on the Obama administration's opposition to breaking up the big Wall Street banks that are "too big to fail."
Warren endorsed the bipartisan bill by Senators Sherrod Brown (D-Ohio) and David Vitter (R-Louisiana) to break up the big banks and prevent future bailouts.
Watch Elizabeth Warren in action -- and join her in urging President Obama and Congress to end "too big to fail." Sign our petition supporting the Brown-Vitter bill.
Warren pointed out that the largest financial institutions are getting bigger and bigger -- 30% larger than they were when they wrecked our economy.
She asked Treasure Secretary Lew, “How big do the biggest banks have to get before we consider breaking them up?” He had no answer.
The media and political insiders need to see the public quickly rallying around Warren in order for her grilling yesterday to make a lasting impact.
Watch Warren in action and sign our petition in support of breaking up the big banks.
Thanks for being a bold progressive.
-- Adam Green, Stephanie Taylor, Zaid Jilani, Karissa Gerhke, and the rest of the PCCC team

15 February 2013

Elizabeth Warren Embarrasses Hapless Bank Regulators At First Hearing (VIDEO) 14FEB13

SEN ELIZABETH WARREN D MA fired another warning shot over the bow of the government financial industry regulators and I'll bet some of them almost shit their pants. She is giving fair warning that as long as she is serving on the Senate Banking, Housing and Urban Affairs Committee they are going to be held accountable for their actions and inaction in addressing the criminal actions of the U.S. bank-financial cabal. Watch the video, she is fair and firm without resorting to demeaning the members of the panel. From HuffPost, followed by a video on Bill Moyers interviewing Neil Barofsky on the need for banking reform. 
http://youtu.be/liaUFcjPTxo

WASHINGTON -- Bank regulators got a sense Thursday of how their lives will be slightly different now that Elizabeth Warren sits on a Senate committee overseeing their agencies.

At her first Banking, Housing and Urban Affairs Committee hearing, Warren questioned top regulators from the alphabet soup that is the nation's financial regulatory structure: the FDIC, SEC, OCC, CFPB, CFTC, Fed and Treasury.
The Democratic senator from Massachusetts had a straightforward question for them: When was the last time you took a Wall Street bank to trial? It was a harder question than it seemed.
"We do not have to bring people to trial," Thomas Curry, head of the Office of the Comptroller of the Currency, assured Warren, declaring that his agency had secured a large number of "consent orders," or settlements.
"I appreciate that you say you don't have to bring them to trial. My question is, when did you bring them to trial?" she responded.
"We have not had to do it as a practical matter to achieve our supervisory goals," Curry offered.
Warren turned to Elisse Walter, chair of the Securities and Exchange Commission, who said that the agency weighs how much it can extract from a bank without taking it to court against the cost of going to trial.
"I appreciate that. That's what everybody does," said Warren, a former Harvard law professor. "Can you identify the last time when you took the Wall Street banks to trial?"
"I will have to get back to you with specific information," Walter said as the audience tittered.
"There are district attorneys and United States attorneys out there every day squeezing ordinary citizens on sometimes very thin grounds and taking them to trial in order to make an example, as they put it. I'm really concerned that 'too big to fail' has become 'too big for trial,'" Warren said.
A Warren constituent, open-Internet activist Aaron Swartz, recently committed suicide after being hounded by federal prosecutors who reportedly said they wanted to "make an example" of him. Warren had met and said she admired Swartz and, after he died, expressed her concern by attending his memorial in Washington.
The financial regulators can blame, at least in part, Wall Street lobbyists (along with outgoing Treasury Secretary Tim Geithner and Senate Republicans) for their embarrassing turn at the hearing. Warren would have been on the panel herself representing the Consumer Financial Protection Bureau, instead of a sitting senator, if her nomination to head the agency hadn't been thwarted in 2011.
Published on Oct 26, 2012
Between President Obama's ineffectual proposals and Mitt Romney's loving embrace, bankers have little to fear from either administration, and that leaves the rest of America on perilously thin economic ice. Neil Barofsky, who held the thankless job of special inspector general in charge of policing TARP, the bailout's Troubled Asset and Relief Plan, joins Bill to discuss the critical yet unmet need to tackle banking reform and avoid another financial meltdown.

Currently a senior fellow and adjunct professor at the New York University School of Law, Barofsky is the author of Bailout: An Inside Account of How Washington Abandoned Main Street While Rescuing Wall Street