Elizabeth Warren | Republicans AND Democrats Are Gutting the Rules on Wall Street

Elizabeth Warren | Republicans AND Democrats Are Gutting the Rules on Wall Street

Please read the article and sign the PETITION: 

We need to make some noise about this big wet kiss to the big banks by reminding Senators as loudly as possible: they work for the American people, not for big bank lobbyists. Sign our urgent petition right now to tell the Senate not to weaken the rules on big banks.

RSN: Goldman Sachs Thinks We Are "Dangerous"

Senator Bernie Sanders. (photo: BernieSanders.com)

Goldman Sachs Thinks We Are "Dangerous"

By Bernie Sanders, Reader Supported News

05 February 16

he CEO of Goldman Sachs, Lloyd Blankfein, said yesterday our campaign represents a dangerous moment, "not just for Wall Street, but for anyone who is a little bit out of line."

I have to say, I find it a little beyond comprehension that Lloyd Blankfein would lecture our campaign about "dangerous moments" after Wall Street received huge bailouts from the working families of this country, when their greed and recklessness caused millions of Americans to lose their jobs, livelihoods, and homes just a few years ago. His arrogance has no end.

Now Wall Street is pouring money into other campaigns. But I am here to tell you that we don’t want their money and we don’t want their super PACs. We are going to do it differently. We are going to win together on the strength of millions of small donations.

Here’s the truth: Wall Street is terrified because we are running a campaign that does not support their agenda. They never expected us to battle to a virtual draw in Iowa, and they are starting to get a bit nervous about New Hampshire too.

The next primary is less than one week away, and we have a slight lead in the polls despite opposition from the economic and political establishment in the state. But if we stand together, I know that we have a good chance to win next week.

In solidarity,
Bernie Sanders

http://readersupportednews.org/opinion2/277-75/35022-goldman-sachs-thinks-we-are-dangerous

RSN: Bernie Sanders | To Rein In Wall Street, Fix the Fed

It's Live on the HomePage Now:
Reader Supported News

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Bernie Sanders | To Rein In Wall Street, Fix the Fed

Bernie Sanders, The New York Times
Sanders writes: "Wall Street is still out of control. Seven years ago, the Federal Reserve and the Treasury Department bailed out the largest financial institutions in this country because they were considered too big to fail."
READ MORE

all Street is still out of control. Seven years ago, the Federal Reserve and the Treasury Department bailed out the largest financial institutions in this country because they were considered too big to fail. But almost every one is bigger today than it was before the bailout. If any were to fail again, taxpayers could be on the hook for another bailout, perhaps a larger one this time.

To rein in Wall Street, we should begin by reforming the Federal Reserve, which oversees financial institutions and which uses monetary policy to maintain price stability and full employment. Unfortunately, an institution that was created to serve all Americans has been hijacked by the very bankers it regulates.

The recent decision by the Fed to raise interest rates is the latest example of the rigged economic system. Big bankers and their supporters in Congress have been telling us for years that runaway inflation is just around the corner. They have been dead wrong each time. Raising interest rates now is a disaster for small business owners who need loans to hire more workers and Americans who need more jobs and higher wages. As a rule, the Fed should not raise interest rates until unemployment is lower than 4 percent. Raising rates must be done only as a last resort — not to fight phantom inflation.

READ MORE

http://readersupportednews.org/opinion2/277-75/34277-to-rein-in-wall-street-fix-the-fed

Remarks by Senator Warren on Citigroup and its bailout provision

From MoveON:

This speech could make Elizabeth Warren president.

 

You need to watch this speech. It's electrifying. It's historic.
Barack Obama's 2004 Democratic Convention speech launched him into the running for President. This could do the same for Elizabeth Warren.

So turn up your speakers and watch the whole thing. And then chip in to support MoveOn's work, as we get Elizabeth Warren's back in the Senate—and encourage her to run for president.

When big banks wrecked our economy, they went to Congress for a half-a-trillion-dollar bailout. Now—six years later—Citigroup thought they could quietly sneak a provision into a must-pass spending bill to let them gamble with taxpayer money again. But Senator Warren fought back hard, and is winning in the court of public opinion.

Barack Obama's 2004 Democratic Convention speech launched him into the running for president. This could do the same for Elizabeth Warren.

Please watch the video right now. And then chip in to help MoveOn as we support Elizabeth Warren's work in the Senate and encourage her to run for president.

Thanks for all you do.

–Mark, Robert, Kristin, Ilya, and the rest of the team

Sources:

1. "The Speech That Could Make Elizabeth Warren the Next President of the United States," The Huffington Post, December 13, 2014
http://www.moveon.org/r/?r=302028&id=105927-3735812-oWJvA5x&t=1

http://warren.senate.gov
Senator Elizabeth Warren spoke on the floor of the Senate on Dec. 12, 2014 about the provision that Citigroup added to the omnibus budget package.

CNBC: In Bed With Wall Street, Censors Senator Warren

Did CNBC think no one would notice?
American taxpayers need protection from Casino Capitalism to prevent future bailouts.

CNBC is in bed with Wall Street execs. That why they don't want people to see the video of Elizabeth Warren crushing a ridiculous CNBC host in a debate about her new Glass-Steagall Wall Street reform bill.

CNBC made Youtube take down the video. Luckily, we still have a version up (for now).

About a year ago, on the campaign trail, I asked PCCC members to join with me in pushing for a new Glass-Steagall bill.

This law stopped investment banks from gambling away people's life savings for decades -- until Wall Street successfully lobbied the regulators to chip away at the rules in the 1980s and Congress to repeal it entirely in 1999.

Over 100,000 people joined the fight. And now, I am proud to introduce the 21st Century Glass-Steagall Act -- along with Republican John McCain, Independent Angus King, and Democrat Maria Cantwell -- as my first big banking bill in the U.S. Senate.

 

We learned during the 2008 financial crisis that Wall Street is not just taking risks with their own money -- they are taking risks with the whole economy.

A new Glass-Steagall would separate high-risk investment banks from more traditional banking. It would allow Wall Street to take risks, but not by dipping into the life savings and retirement accounts of regular people.

And by making banks smaller, a new Glass-Steagall could also help put an end to banks that are "too big to fail" -- further avoiding costly taxpayer bailouts.

 

I've already talked about this petition on MSNBC, and I'll keep my Senate colleagues informed of the growing public support for this reform.

By mobilizing people across the nation, we can get this done.

Thank you,
Senator Elizabeth Warren