{"id":10927,"date":"2012-05-14T14:17:34","date_gmt":"2012-05-14T19:17:34","guid":{"rendered":"http:\/\/ssgreenberg.name\/PoliticsBlog\/?p=10927"},"modified":"2012-05-14T14:18:10","modified_gmt":"2012-05-14T19:18:10","slug":"petition-for-a-new-glass-steagall-act","status":"publish","type":"post","link":"https:\/\/ssgreenberg.name\/PoliticsBlog\/2012\/05\/14\/petition-for-a-new-glass-steagall-act\/","title":{"rendered":"Petition For A New Glass-Steagall Act"},"content":{"rendered":"

Here is an email that I received from Elizabeth Warren via the Progressive Change Campaign Committee BoldProgressives.org<\/a><\/strong>.<\/p>\n

\n
\n

Steven,<\/p>\n

We’ve seen all the headlines: JP Morgan Chase took risky bets and lost two billion dollars<\/strong> in a matter of weeks.<\/p>\n

CEO Jamie Dimon called the bets “poorly reviewed” and even “sloppy.” He added, “We will learn from it, we will fix it, and we will move on.”  <\/p>\n

Frankly, I don’t think we should just trust Wall Street banks to regulate themselves.<\/strong> Because as we learned during the 2008 financial crisis, they are not just taking risks with their own money — they are taking risks with the whole economy.<\/p>\n

That’s why today, with the Progressive Change Campaign Committee, I’m calling on Congress to put Wall Street reform back on the agenda and to begin by passing a new Glass-Steagall Act. This was the law that stopped investment banks from gambling away people’s life savings for decades — until Wall Street successfully lobbied to have it repealed in 1999.<\/p>\n

Will you join us in calling on Congress to hold Wall Street accountable and pass a new Glass-Steagall Act? Click here to stand with us!<\/a><\/p>\n

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. <\/p>\n

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. <\/p>\n

Wall Street’s risky bets nearly brought the economy to its knees in 2008. But instead of taking responsibility, Wall Street lobbied to water down the Dodd-Frank financial reforms of 2010 and fought to weaken the reforms Congress passed.<\/p>\n

It has become clear over time — and made even clearer this past week — that additional Wall Street reforms are needed. <\/strong><\/p>\n

Please join us in urging Congress to put Wall Street reform back on the table — and pass a new Glass-Steagall Act today.<\/a><\/p>\n

Thousands of Progressive Change Campaign Committee members have stood with me in my campaign for the Senate — and many were with me before that when I was fighting for the Consumer Financial Protection Bureau. I thank you from the bottom of my heart.<\/p>\n

If I’m elected to the U.S. Senate from Massachusetts, I promise this difference from my Republican opponent Scott Brown: I will be a reliable and strong champion for commonsense Wall Street reform. But we don’t have a moment to waste.
<\/span><\/p>\n

Together, we must urge Congress to act now.<\/a><\/p>\n

Thank you,
Elizabeth Warren<\/p>\n

 <\/p>\n

\n

Like the PCCC on Facebook<\/a> and follow us on Twitter<\/a>.<\/p>\n

\nWant to support our work?<\/strong>
\nPCCC’s Draft Warren campaign was named The Nation’s “Most Valuable Campaign of 2011” and Politico called us “The Energizer Bunny of the Left”!<\/p>\n

And our tiny staff ensures that small contributions go a long way.
\nChip in $3 here.<\/a><\/p>\n

<\/p>\n
Paid for by the Progressive Change Campaign Committee PAC (www.BoldProgressives.org<\/a>) 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.<\/div>\n

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Here is an email that I received from Elizabeth Warren via the Progressive Change Campaign Committee BoldProgressives.org. Steven, We’ve seen all the headlines: JP Morgan Chase took risky bets and lost two billion dollars in a matter of weeks. CEO Jamie Dimon called the bets “poorly reviewed” and even “sloppy.” He added, “We will learn from […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[166],"tags":[],"class_list":{"0":"post-10927","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-stevegsposts","7":"czr-hentry"},"_links":{"self":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/10927","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/comments?post=10927"}],"version-history":[{"count":9,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/10927\/revisions"}],"predecessor-version":[{"id":10936,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/10927\/revisions\/10936"}],"wp:attachment":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/media?parent=10927"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/categories?post=10927"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/tags?post=10927"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}