The Bern has a differerent take on banking, that Clinton has jumped on: Bernie Sanders makes the case for banking at post offices 01/05/16 04:23 PM—UPDATED 01/05/16 04:24 PM By Steve Benen Bernie Sanders delivered a big speech in New York today on Wall Street and the economy – arguably his signature issue – and we’ll have more on his remarks on tonight’s show. But there was one topic the Vermont senator raised that’s worth singling out. From the transcript: “[We] need to give Americans affordable banking options. The reality is that, unbelievably, millions of low-income Americans live in communities where there are no normal banking services. Today, if you live in a low-income community and you need to cash a check or get a loan to pay for a car repair or a medical emergency, where do you go? “You go to a payday lender who could charge an interest rate of over 300 percent and trap you into a vicious cycle of debt. That is unacceptable. “We need to stop payday lenders from ripping off millions of Americans. Post offices exist in almost every community in our country. One important way to provide decent banking opportunities for low income communities is to allow the U.S. Postal Service to engage in basic banking services, and that’s what I will fight for.” To be sure, as Sanders supporters know, this isn’t exactly a new part of his policy platform. But it’s a really interesting idea that’s worth broader consideration. There is, not surprisingly, a concerted push in the opposite direction. Rand Paul, for example, argued as recently as November that he’d consider doing away with the Postal Service altogether, even though the Constitution explicitly lists this as a governmental benefit (Art. 1, Sec. 8). Sanders has a much better idea: let’s not only keep post offices, let’s also expand the role they can play in a community. a good piece on this in the fall: …Sanders’s idea is quite sensible. “Postal banking” – which just means that post offices run savings accounts, cash checks, and perform other basic financial services – is common in most of Asia and Europe, and only about 7 percent of the world’s national postal systems don’t offer some bank-like services. Postal banking is a really good way to reach people who haven’t had access to standard savings accounts. One estimate figures that more than 1 billion people have used post offices for making deposits. The reason why this would be so useful in the U.S. is that somewhere between 20 and 40 percent of the population has to rely on check-cashing or payday-lending services, which in some places charge usurious rates that send people into spirals of recurring debt... http://www.msnbc.com/rachel-maddow-show/bernie-sanders-makes-the-case-banking-post-offices
This guy should be shitting in his chair facing EW. Instead, he knows all the other cronies sitting in the Senate are in his pockets.
CNBC lapdog anchors need to go to school. Bill Clinton made several mistakes, but maybe non more catastrophic than removing Glass-Steagall. And if these clowns did go back to school, they would be taking their classes from? EW.
And yet EW supports Clinton/Kaine - too pro banksters. She plays the anti-bank stance to get votes. Pocahontas is a charlatan.
Clinton weighed reinstating Glass-Steagall, Wikileaks emails show © REUTERS/Lucy Nicholson U.S. Democratic presidential nominee Hillary Clinton speaks at a voter registration rally at Wayne State University in Detroit A longtime political adviser to Hillary Clinton last year urged her presidential campaign to support a new version of a law that separated commercial and investment banking to avoid antagonizing the Democratic Party's progressive wing, according to emails published by Wikileaks on Monday. Mandy Grunwald, an outside adviser to Clinton, urged Clinton's policy team in October 2015, just days before a Wall Street policy rollout, to consider endorsing a new version of the Glass-Steagall Act, according to an email reviewed by Reuters. The Glass-Steagall Act was a Depression-era law that prohibited commercial banks from engaging in risky trading activities. The 1933 law was repealed in 1999 during the presidency of Bill Clinton when he passed legislation removing barriers between commercial banks, investment banks and insurance companies. Many Democratic activists believe that reinstating the Glass-Steagall law and breaking up large financial institutions would help prevent future financial crises such as the one that rocked the U.S. economy in 2008. Grunwald said if Clinton did not back a new Glass-Steagall, she risked alienating liberal U.S. Senator Elizabeth Warren of Massachusetts, an outspoken critic of Wall Street who is popular in the left wing of the Democratic Party. The Clinton campaign would neither confirm nor deny the authenticity of the latest batch of hacked emails of Clinton campaign Chairman John Podesta released by Wikileaks... http://www.msn.com/en-us/news/polit...l-wikileaks-emails-show/ar-BBxgNTO?li=BBnb7Kz
It is a sad reflection of the honesty of banks that they need close regulation. Hillary ought to add billionaires too, to clip their wings !! The Catholic church owned most of Britain in Tudor times through devious manoeverings. Their wings were clipped by Henry VIII.
Leaked Speech Excerpts Show a Hillary Clinton at Ease With Wall Street In lucrative paid speeches that Hillary Clinton delivered to elite financial firms but refused to disclose to the public, she displayed an easy comfort with titans of business, embraced unfettered international trade and praised a budget-balancing plan that would have required cuts to Social Security, according to documents posted online Friday byWikiLeaks. ..... -------- -------- Liberals, your party left you years ago.
Why doesn't Trump bring it up then? According to threads in P&R, it is because this would implicate the Republicans even more so. Maybe now that Trump has gone rogue, he no longer has to lippy-toe around the issue. I agree this is an issue, and lots of progressives that side with EW wondered how she could endorse Clinton given Clinton's tidy history with Wall Street. While I see all sorts of progress in forming new policy between Clinton and Sanders, I see no news of Clinton and Warren on negotiating for example, reinstating Glass-Steagall. Where does EW fit in the Clinton machine?
Senate members progressive score. Only Ed Markey can claim a sliver higher lifetime rating than EW. Also, notice the dramatic drop from 46 to 47, where the D & R lines delineate: 46 Heitkamp, Heidi D ND 56.44 40.00 80.29 65.54 Leaning Rep - 16.89 47 Collins, Susan R ME 28.21 31.25 39.19 37.23 Leaning Dem - 51.79 http://progressivepunch.org/scores.htm?house=senate