---------- Forwarded message ---------- From: Robert Reich <[email protected]> Date: Sat, Jan 9, 2016 at 12:29 PM Subject: Sign my petition: Elizabeth Warren and Wall Street react to Bernie's plan To: Robert Naiman <[email protected]>
Robert -- The reaction is in to Bernie Sanders's big, bold plan to break up the big banks and tackle Wall Street fraud. *Elizabeth Warren loves his plan:* *"I'm glad Bernie Sanders is out there fighting to hold big banks accountable, make our economy safer, and stop the GOP from rigging the system."* On the other hand, Wall Street is deeply concerned about what Bernie is proposing -- and how it's influencing lawmakers and leaders. For example, the Huffington Post reported that Wall Street analyst Jaret Seiberg issued a warning to his clients that the Sanders plan should be taken very seriously: *"This is not just about breaking up the biggest banks. Sanders is calling for a system in which financial firms are smaller, the government controls the interest rates that banks charge, certain fees are capped, the Postal Service becomes a viable competitor to banks and payday lenders [and] CEOs would be criminally liable if employees defraud customers.Sanders appears to argue that he could implement much of this agenda on his own even without the need for legislation. We caution against dismissing this view. There is much that the White House, Treasury, or the financial regulators could do by executive order... Bashing Wall Street is a populist message that appeals to conservatives and liberals. Sanders has now laid out the most radical option on the table that other candidates will be judged against."* In the message below, I explain why I support Bernie's plan. We need these bold actions in order to protect Americans from the risks of another financial crash. *More than 70,000 Democracy for America members have added their name in support of Bernie Sanders's plan to break up the big banks and tackle Wall Street fraud. Will you join us? Please sign my petition today! <http://act.democracyforamerica.com/sign/SandersWallSt/?t=1&akid=7197.1079222.l40pH1>* Thank you for taking a stand against Wall Street -- and supporting Bernie's bold plan. Robert Reich Former Secretary of Labor ---------- Forwarded message ---------- From: Robert Reich Date: Thu, Jan 7, 2016 at 11:07 AM Subject: Sign my petition: Support Bernie's plan -- and break up the big banks Robert -- *Bernie Sanders gave a major speech on Wall Street this week. In it, he committed to busting up the biggest banks and reinstating the Glass-Steagall Act.* Both of these steps are necessary to avoid another "too-big-to-fail" bailout, along with another crisis that robs millions of Americans of their jobs, homes, and savings. *The only way to contain Wall Street's excesses is with reforms so big, bold, and public they can't be watered down.* *Please sign my petition with Democracy for America in support of Bernie Sanders's plan to break up the big banks and crack down on financial fraud.* <http://act.democracyforamerica.com/sign/SandersWallSt/?t=2&akid=7197.1079222.l40pH1> Consider: Today, 3 out of the 4 largest financial institutions are nearly 80 percent bigger than before we bailed them out. The 6 largest banks now issue more than two-thirds of all credit cards and over 35 percent of all mortgages, control more than 95 percent of all financial derivatives and hold more than 40 percent of all bank deposits, and their assets are equivalent to nearly 60 percent of our GDP. *Bernie Sanders is also committing to jailing Wall Street executives who break the law.* As he points out, since 2009 major financial institutions in this country have been fined $204 billion. Wall Street has a systemic fraud problem. In last year's University of Notre Dame study on the ethics of the financial services industry, over half of Wall Street executives earning more than $500,000 a year said: - It is likely that their competitors have engaged in unethical or illegal activity in order to gain an edge in the market. - More than a third of financial executives have either witnessed or have first-hand knowledge of wrongdoing in the workplace. - Nearly one in five financial service professionals believe they must engage in illegal or unethical activity to be successful. - A quarter of financial executives have signed or been asked to sign a confidentiality agreement that would prohibit reporting illegal or unethical activities to the authorities. *The major business model on Wall Street is fraud. This harms us all. It must end.* *Show your support for Bernie Sanders's plan to break up the big banks and prosecute Wall Street fraud: Sign my petition with DFA today.* <http://act.democracyforamerica.com/sign/SandersWallSt/?t=3&akid=7197.1079222.l40pH1> Thank you for adding your name. Robert Reich Former Secretary of Labor DONATE <https://secure.actblue.com/contribute/page/sandersbigbanks?refcode=ABS010916RR&refcode2=7197&akid=7197.1079222.l40pH1> Paid for by Democracy for America, http://www.democracyforamerica.com/?t=4&akid=7197.1079222.l40pH1 <http://www.democracyforamerica.com?akid=7197.1079222.l40pH1> and not authorized by any candidate. Contributions to Democracy for America are not deductible for federal income tax purposes.
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