PCCC-endorsed candidates are turning up the heat on Wall Street! Last night, Elizabeth Warren went on The Ed Show to call for Wall Street reform to be put back on the agenda -- including a new Glass-Steagall Act. She said:
I pushed for a renewed Glass-Steagall, a new version of Glass-Steagall. And right now I'm working with the Progressive Change Campaign Committee -the PCCC has been out there circulating a letter, we've had over 75,000 people who have signed up and said 'enough of this!'
Add your name to the PCCC's petition with Elizabeth Warren in support of a new Glass-Steagall Act.
Ed asked, "Is a renewed Glass-Steagall really the remedy for Wall Street?"
Well. Let's put it this way. A new Glass-Steagall is the first step to making banking boring. It separates commercial banking - checking accounts and savings accounts - from the trading and risk taking that occurs on Wall Street. The notion is both of those are fine activities but they ought to be separated from each other in order to reduce the risk to the American tax-payer.
On Daily Kos this week,
we wrote about how Wall Street reform is increasingly an issue that progressive candidates are campaigning on. Last night, Warren addressed this when Ed Shultz asked if this was a focal point of her campaign:
Yes, very much. This is very much a part of the campaign. And I'll tell you why, as I see this, ultimately, it's a real question of who's side do you stand on? Back during the financial reforms when they were being debated in 2010, Scott Brown, my Republican opponent, is the one who held the deciding vote on the financial regulations, and you know what he traded the deciding vote for? To weaken the Volker rule and to take $19 billion dollars in costs and shift them from the biggest financial institutions to the tax payers. It's no wonder he was named one of Wall Street's favorite Senators!
In addition, PCCC-endorsed Eric Griego (running for Congress in NM-1) launched an ad boldly demanding we jail Wall Street bankers who broke the law.
Click here to see Eric's ad and help keep it on TV in New Mexico. (The primary against more conservative opponents is in less than 3 weeks.)
Look out for Eric Griego on The Young Turks with Cenk Uygur on Current TV tonight at 8pm EST.
With true progressives like Elizabeth Warren and Eric Griego running in this election, we can make real reform on Wall Street.
Warren and Griego can't fight the good fight alone. Please add your name to Elizabeth's petition and contribute to Eric's campaign.