GOP Prez Candidate Regrets Repealing Glass Steagall

 

At the South Carolina Tea Party Coalition Convention in Myrtle Beach, I asked GOP presidential candidate and former Senator Rick Santorum whether he would break up the banks and reinstate Glass Steagall, the Depression-era law that created a firewall between commercial and investment banking. The idea was to shield traditional banking assets from risky, speculative trading activities.

Glass Steagall was partially repealed under the Clinton administration in 1999, with the passage of the Graham-Leach-Bliley Act, a supporter of which was then-Senator Santorum. The repeal allowed for already big banks to become Too-Big-to-Fail behemoths, and thus has been widely cited as a cause of the 2008 financial crisis.

Although Santorum regrets his GLBA vote, he would nonetheless repeal Dodd Frank.

Sun., Jan. 17, 2016.

Ted Cruz: Natural Born Canadian

With just seven days until the Iowa caucus, this morning Republican presidential frontrunner Donald Trump tweeted that Ted Cruz should either settle claims of his eligibility for office or get out of the race. What was initially dismissed as trolling by both Cruz and the media has turned into a legitimate question for many voters. And some legal scholars agree.

Suits challenging Cruz’s eligibility have already been filed in Texas and Utah, but others are sure to follow. Progressive firebrand Congressman Alan Grayson is pledging to file, and Trump himself is mulling it over.

Against the odds, Ted Cruz is uniting both the right and left — uniting them against a common target. Who said Ted Cruz is divisive?

Graphic below is a Lady Libertine original.   

Natural Born Canadian

Tea Party Congressman Wants to Roll Back Clean Air and Water Acts

This piece was originally published in The Huffington Post.

At the South Carolina Tea Party Coalition Convention on Sunday, Congressman Jeff Duncan (R-SC 3) told me he wants to roll back the Clean Air and Water Acts and shrink the EPA. Meanwhile an enormous methane gas leak is poisoning the air in Southern California, and a state of emergency has been declared over the water crisis in Flint, Michigan. Plus there are a couple of other agencies Rep. Duncan would like to eliminate entirely…

Fairness AND Growth: the Progressive Economic Alternative

Today, my organization, American Family Voices launched a new campaign with the video release of “Fairness AND Growth: the Progressive Economic Alternative.” You can view the video below and read all about it in the following press release.

AFV LAUNCHES CAMPAIGN TO UNITE PROGRESSIVES ON ECONOMIC AGENDA  

New York City Mayor Bill de Blasio, Sen. Elizabeth Warren, Sen. Sherrod Brown,
Rep. Raul Grijalva, progressive movement advocates, and business leaders
make the argument for a progressive economic agenda.

Washington, D.C. — Today, American Family Voices is launching a new campaign uniting progressive politicians, movement advocates, and socially conscious business leaders to make the argument for a progressive economic agenda, with the video release of “Fairness AND Growth: the Progressive Economic Alternative.” On Friday, October 2nd, AFV, in collaboration with State Innovation Exchange, will convene the “Forging an Alliance Between Progressive Leaders and Socially Conscious Businesses” conference to advance this agenda.

What does such an agenda look like? To make an expanding and prosperous middle class the engine of our economy again, we support ending corporate welfare and closing tax loopholes; increasing wages and strengthening working families; protecting the dignity of retirement by strengthening Social Security and Medicare; investing in infrastructure, education, and green energy to create more jobs; and taming the power of Wall Street.

Our video features exclusive interviews with New York City Mayor Bill de Blasio, Sen. Elizabeth Warren, Sen. Sherrod Brown, Rep. Raul Grijalva, Dr. Gabriela Lemus of Progressive Congress, Damon Silvers of the AFL-CIO, Deepak Bhargava of Center for Community Change, Khalid Pitts of USAction, small business owner MaryAnne Howland, New Resource Bank President Vince Siciliano, and economist Mike Konczal of the Roosevelt Institute, and quotes from Pope Francis, Richard Trumka, and Robert Reich.

The president of American Family Voices, Mike Lux, said, “Together, these voices tell the story of how a movement is rising once again to create an economy that raises working families up instead of enriching wealthy elites — an economy based on a prosperous and expanding middle class, not a trickle-down fantasy.”

Since the beginning of 2015, a variety of organizations and individuals have promoted a progressive economic agenda:

AFL-CIO
Alliance for a Just Society
American Family Voices
Campaign for America’s Future
Center for Community Change
Center for Popular Democracy
Leadership Conference on Civil and Human Rights
MoveOn.org
National People’s Action
Progressive Change Campaign Committee
Progressive Congress
Roosevelt Institute
The Progressive Agenda Coalition
USAction
Working Families Party

“The emperor has no clothes: Reaganomics simply doesn’t work for the majority of Americans,” said AFV Executive Director Lauren Windsor. “This country was not built to be a serfdom. We need a progressive economic agenda to ensure we don’t become one.”