REFORM AT RISK

There are 3 Big No-Bailout Reforms worth fighting for in The Financial Reform Bill

...but now it's behind closed doors... sign up to call!


Without the crucial Big 3, this bill will do nothing to make banks safer for consumers and taxpayers (read full post). The bill is in the final crucial conference where bank lobbyists and bought-out lawmakers most easily strip reforms from the bill. Let's tell Congress that we will hold them accountable if they take out any of these reforms.

1. Stop Taxpayer Subsidies for Risky Derivatives (more).
2. Sufficient Capital for Bets - take the strongest measures from the House and Senate versions (more and here)
3. Independent Consumer Agency - a focused watchdog like the EPA, an agency to stop obvious bank abuses. (more)

How do we fight back against secret negotiations?



We do it by getting every conference member on the record for/against the Big 3. Sign up for a day to call below - Wed or Thurs - and we'll send you a reminder and the most important conferees to call that day.

Who of the 28 conferees are trying the hardest to water down the bill?


(tip us off here or use twitter #finreg #716)

schumer

Sen. Jack Reed (R, RI) 202-224-4642 has been inconsistent on his support for structural financial reform. He's generally a defender of the public good, but he's been pushing recently for inclusion of a weaker prop-trading ban at the expense of the strong Lincoln "no bailouts for derivatives" language. Is all that big bank money getting to his head?

schumer

Sen. Tim Johnson (D-SD) 202-224-5842 is next in line to take over Chris Dodd's chairmanship of the Banking Committee. He's taken millions from the finance industry and seems to be getting in pretty cozy with their lobbyists. We need him to know that we're counting on him to be tough on financial reform and stand up for common-sense protections.

schumer

Sen. Bob Corker (R-TN) 202-224-3344 has long been considered one of the only gettable GOP votes for the Dems on this issue. Not surprisingly, he's using his leverage here to push for a prop-trading restriction over the strong, bank-opposed Lincoln Sec. 716 language.

schumer

Rep Barney Frank, (D-MA) 202-225-5931
Chair of the House bill, he's known to be unpredictable, a flip-flopper, and often contradicting his own public statements. He has said that stopping taxpayer subsidies of bank gambling "goes too far". He recently said he may change his mind on that one, we hope he does.



Report what you hear so we can update the whole list of good/sleazy deals happening here. You can also watch the proceedings happening through C-SPAN - yeah! (Tues/Wed/Thurs only)












Let's air out those nasty backroom deals together.

Congress needs to be held accountable at some point, the next few days are our best chance - we also know what we want from them right now. We demand they preserve the only reforms that stop bailouts for the biggest, most dangerous banks.

That's why it's so important for you to signup above to call in.


This campaign is not possible without coordinating with other strong campaigns:

No Backroom Deals Needs PC's Transparency Effort. We are grateful for the collaborative and amazing work of Public Citizen and Campaign for America's Future to get all amendments a full daylight view and vote. This is a integral piece of reform.

Petition to stop subsidizing derivatives casinos. We support and are supported by current strong reform efforts coordinated by writers of the Motley Fool and BanksterUSA. Every signature counts on this.

BanksterUSA's powerful leadership and whipping is guiding this strong derivatives reform effort towards home.