Editors' Stuff

As the financial reform legislation makes it’s way to President Obama’s desk for his signature, the position for head  of financial Consumer Protection  is available.

Vermont Senator, Senator Bernie Sanders has endorsed Elizabeth Warren for this position (see below). As usual, Senator Bernie Sanders is once again right on with our views on how things in Washington should operate in the best interest of the We The People.

We have followed Ms. Warren’s work. Ms. Warren is bright, articulate and has a refreshing “tell it as she sees it” way of doing things. Let’s just hope the ways of Washington don’t change Ms. Warren - we don’t think it will.

Sanders Urges President to Name Elizabeth

Warren to Head Consumer Protection Agency

WASHINGTON, July 20 – Sen. Bernie Sanders (I-Vt.) urged President Obama to pick Elizabeth Warren to be the first director of a new consumer protection bureau.

Obama on Wednesday plans to sign into law a bill overhauling financial regulations that would create the new Bureau of Consumer Financial Protection.

In a letter sent to the White House on Monday, Sanders wrote that “at a time when doubts about Wall Street and its practices run very deep … American consumers need a federal government that is looking after their best interests.”

Sanders acknowledged that some senators may oppose Warren. “Good!” he wrote. “It will allow for a serious debate as to the role that government should play in protecting the American people against the outrageous behavior we have seen on Wall Street.”

For a copy of the letter, click here.

Media Contact: Michael Briggs or Will Wiquist (202) 224-5141

Tonight at 7:00 (central), 8:00(eastern) President Obama will address the Gulf Coast oil spill and the tragic effects on the people, the environment and the economy.

We hope to hear an open, honest assessment of what is being done to stop the flow and the specific plans and resources that will be allocated to cleaning up this mess.

Once again we see big companies driven by greed employing unnecessary and irresponsible strategies that produce devastating effects. This is all too similar to the financial companies that brought our economy to it’s knees in September, 2008 where we had to bail them out to avoid a financial meltdown.

Let’s all watch and listen tonight.

We hope President Obama has the political will to use this Gulf Coast tragedy as the foundation for a comprehensive energy strategy that will offer substantial incentives for energy conservation and a full court press to develop and implement a sustainable energy strategy based upon clean, renewable energy production from the infinite resources of the sun and the wind.

This AP photo pretty much says it all!

The Military Spending Bill that passed in the Senate last night contained an amendment by Vermont Senator Bernie Sanders that would require transparency (internet posting) of federal contractors that engaged in misconduct while performing their government contract.

Just maybe BP will be on this list?

Once again our thanks to Senator Sanders.

Fighting Fraud A military spending bill that passed the Senate on Thursday includes a Sanders amendment to make a federal contractor fraud database accessible to the public.  The Federal Awardee Performance and Integrity Information System is a database created by the Clean Contracting Act of 2008 that lists incidences of misconduct by federal contractors.  The database is an important tool for tracking the behavior of federal contractors. It lists prior findings of liability relating to federal contracts, including findings from criminal, civil, and administrative proceedings.  The database also lists whether the contractor has ever defaulted on a prior federal contract.  Finally, it lists whether contractors have engaged in such egregious behavior to have been suspended or disbarred from contracting.  The Sanders amendment would require that the database be posted on the Internet, ensuring that the public has access to this critical, public information about where their tax dollars are going. “We cannot let corporations rip off American taxpayers,” Sanders said.

Vermont Senator Bernie Sanders once again is the champion for the people of this country in dealing with the major issues facing US.

The Gulf Oil Spill is the result of so many factors that our legislators in Congress have not adequately addressed. Does it take a disaster like the Gulf Oil Spill to get the attention of the other 534 representatives we have? Still, we have folks in Congress that continue to resist progressive thinking and actions in the best interest of the people rather than those of special interests.

We thank you again Senator Sanders - we need you and your efforts to continue!

Sanders Proposes Drilling Ban and

Stronger Fuel Efficiency Standards

WASHINGTON, May 27 – Sen. Bernie Sanders (I-Vt.) said today that the United States must learn a profound lesson from the BP oil catastrophe in the Gulf of Mexico and make certain we protect our oceans from future disasters and transform our energy system away from fossil fuels.

Sanders introduced legislation that would ban offshore drilling along America’s ocean coastlines and increase fuel efficiency in American cars.

The measure would prohibit drilling in the Pacific and Atlantic oceans and along Florida’s gulf coastline. A moratorium on drilling in those areas that Congress approved every year since 1982 lapsed in 2008.

Sanders’ bill also would set a fuel economy standard of 55 miles per gallon, up from an average of 35 mpg that American car makers must achieve by 2030 under current law.

An outgrowth of an Obama administration push to stiffen the standards, the detailed requirement proposed by Sanders would bring the United States up to par with China, Japan, Canada, South Korea and nations in Europe that already have more aggressive standards than the U.S. In Europe, for example, cars already get the equivalent of 42 mpg and by 2020 cars in Europe will be required to get at least 65 mpg.

The improved fuel economy would translate into a savings of $1.43 per gallon of gas.  Opening all of America’s coastal waters to drilling would yield such a modest boost in petroleum supplies that the price of gas would dip by only 3-cents a gallon.

“Is 3-cents-a-gallon in the year 2030 worth the potential risk of another disaster like this?” Sanders asked. “I don’t think it is.”

The legislation already has drawn support from leading national environmental groups, including Friends of the Earth. “As the Deepwater Horizon disaster shows, new offshore drilling puts our coasts at unacceptable risk,” said Erich Pica, president of Friends of the Earth.

Contact: Michael Briggs or Will Wiquist (202) 224-5141

No wonder only 23% of the people trust Congress!

We have all the critics of the Administration’s efforts to reform Health Care, Financial regulations, our Educational System and our Energy Policies saying “No to Big Government - saying “We don’t want the Federal government involved in our States and our lives”.

That’s just fine until a crisis happens like the Gulf Coast Oil disaster.  Now, those same critics are calling out the Administration for not “responding fast enough” - not “doing enough”.

What is it folks - you only want the Federal Government involved when you can’t handle a mess you’ve created?

Hypocrisy at it’s finest!

Let’s get behind the Administration and start pushing Congress to become effective regulators by being efficient in dealing with the major issues facing our country.

If anything is too big to fail it’s a Congress that can’t deal with issues that have been ignored for so long.

The Senate moved forward with financial reform yesterday - that’s good news. However, does this reform package really address the core issues?

One of the key issues is the high risk derivative trading moves by banking firms that also have on deposit what money most of us in this country have left and is insured by the FDIC. It also does not address capping interest rates and outrageous charges these same banking firms charge even their best customers for credit.

It is our opinion true financial reform lies with Glass-Steagall Act type legislation that separates high risk financial trading activities from the less risky, traditional banking for the people.

You might think we post a lot of releases by Senator Bernie Sanders of Vermont - you’re right - we do!

Of the 535 people in Congress that are responsible for how our country works - or doesn’t, Senator Bernie Sanders is truly a voice of the people.

Thanks again Bernie Sanders - keep up your great efforts on behalf of US!

Now we would like to see and hear President Obama step out strongly in front of these issues. We voted for “change we can believe in”.

Vermont Senator Bernie Sanders released this statement.

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Sanders Statement on Senate

Passage of Wall Street Reform

WASHINGTON, May 20 – Sen. Bernie Sanders (I-Vt.) issued the following statement after the Senate tonight voted 59 to 39 for a major Wall Street reform bill:

“As a result of the greed, recklessness and illegal behavior of Wall Street, this country was plunged into a horrendous recession. While this bill does not go as far as I would like, it is a strong beginning in the effort to reregulate huge financial institutions and to bring transparency to their often nefarious activities.

“I am especially proud that in this bill there is a major provision I authored which, for the first time, will lift the veil of secrecy at the Federal Reserve and give the American people an understanding of where trillions of their tax dollars went in the Wall Street bailout.

“I am disappointed that we could not garner the necessary votes to lower interest rates on credit cards or to begin the process of breaking up the largest financial institutions in this country which are the cause of so many of our problems. I intend to continue that effort until we succeed.”

Contact: Michael Briggs or Will Wiquist (202) 224-5141

You might think we post up a lot of releases by Senator Sanders - you’re right - we do!

Of the 535 people in Washington that are responsible for how our country works - or doesn’t, Senator Bernie Sanders is truly a voice for the people.

Thanks again Bernie Sanders - keep up your great efforts on behalf of US!

WE would like to see and hear President Obama step out strongly in front of these issues. WE voted for “change we can can believe in”.

We just don’t understand how anyone in Congress, especially the Senate can oppose financial reform legislation.

Is it wrong to ask the firms on Wall Street to have sole accountability for bad financial decisions they make - not us tax payers? Is it wrong for the Federal Reserve to exhibit transparency on what deals they are making with these firms?

Maybe, it has to do with all the money the financial lobbyists are throwing at our elected representatives.

With credit cards interest rates from these guys at 20% to 30% (even for good paying customers) and the devastating effect their bad decisions have had on our economy and our retirement funds, it’s time for them to become responsible. If responsibility is in conflict with the need to make as much money as possible as fast as possible, it’s time for Congress to take serious and substantial action.

It’s time to reinstate the Glass-Steagall Act from 1933 that prohibits commercial banks from being engaged in the investment banking world. The Wall Street folks need to decide what they want to be: A commerical bank or an investment bank!

Vermont Senator Bernie Sanders released this statement - we agree with Senator Bernie Sanders 100%.

Sanders Statement on Financial Reform Vote

WASHINGTON, April 26 – Sen. Bernie Sanders (I-Vt.) issued the following statement after Republicans blocked the Senate from proceeding to legislation that would tighten regulation of the nation’s financial system:

“I am disappointed but not surprised that not a single Senate Republican voted to allow us to proceed to consideration of Wall Street reform.  I hope they reconsider. To my mind, it is absolutely imperative that we end the greed, recklessness and illegal behavior on Wall Street which has led to the loss of millions of jobs and the worst recession in modern history.”

Contact: Michael Briggs and Will Wiquist at (202) 224-5141

Below are some eye-opening data from Vermont Senator Bernie Sanders. Is it any wonder why our economy is in the shape it’s in?

Keep it coming Senator Sanders - you’re on our side.

Federal Taxes Drop for Middle Class

WASHINGTON, April 15 –On today’s income tax filing deadline, Sen. Bernie Sanders (I-Vt.) said federal taxes are down for most middle-class Vermonters and Americans but much more needs to be done to create a fair and equitable tax system.

“Despite much political rhetoric to the contrary, 99 percent of Vermont working families and individuals received a much-needed average federal tax cut of over $1,100 for 2009,” Sanders said.

As a result of the American Recovery and Reinvestment Act, some 300,000 Vermont households were able to receive a tax cut of up to $400 ($800 for married couples). Further, 14,000 Vermont families were able to receive an expanded tax cut to send their kids to college last year. More than 20,000 Vermont children benefitted from an expansion in the child tax credit. Nearly 60,000 Vermont small businesses received tax cuts to purchase new equipment and other things.

Nationwide, Congress cut individual federal income taxes by about $173 billion shortly after President Obama took office. “This tax relief is welcome news for Vermonters who continue to suffer through the worst economic crisis since the Great Depression,” the senator said.

While federal taxes on middle class fell, Bush-era tax breaks for the wealthy continue to increase the skyrocketing federal deficit and too many large corporations took advantage of loopholes in the tax code to evade paying billions of dollars.

“Congress has a lot of work to do to create a fairer tax system. This tax day we must resolve to make the tax code more progressive, simpler and fairer to the American people,” Sanders said.

“With the top 1 percent now earning more income than the bottom 50 percent and the gap between the very rich and everyone else growing wider, we have to make sure that the wealthiest in our society and the largest and most profitable corporations in America pay their fair share in taxes. This is especially relevant given the reality that we have a record-breaking deficit and our national debt is approaching $13 trillion.”

The federal tax code is so absurd that Warren Buffett, the third richest person in the world worth $47 billion, pays a lower overall tax rate than his secretary.  Equally outrageous is the fact that the top 25 hedge fund managers who made an average of $1 billion last year, pay a lower effective tax rate than many teachers, nurses, police officers, and fire fighters.

Sanders also called it a “national disgrace” that Exxon Mobil, the most profitable corporation in history, evaded paying billions in taxes last year by setting up tax shelters in the Bahamas, Bermuda and the Cayman Islands, among other things.  “As gas prices continue to climb, making it harder for Vermonters to afford to commute to work, Exxon Mobil shouldn’t be allowed to skirt its tax bill by setting up bogus tax shelters in the Caribbean,” he said.

A member of the Senate Budget Committee, Sanders said he will work to repeal the Bush tax breaks for the wealthiest 1 percent, end corporate tax loopholes, and make the tax code fairer and simpler for ordinary Vermonters.

Contact: Michael Briggs and Will Wiquist at (202) 224-5141

We watched and listened intently for seven hours yesterday as President Obama and a number of Senate and House lawmakers discussed Health Care Reform and the Health Care Reform bills generated by Congress.

What was apparent to us is that everyone in the room agreed that health care needs to be reformed. What also was apparent to us was that our lawmakers are at an impasse on how to deal with this most complex issue. At the continual urging of President Obama to deal with issues, many wanted to scrap a year’s worth of work and start over - our tax dollars being wasted again.

Why do some people in Congress continue to ignore the fact that health insurance companies made record profits in their last reporting quarter while covering less people? Where is the Accountability when CEO’s of these companies are making hundreds of millions of dollars in salaries, bonuses and stock options? Where is the Transparency so that all of us know what is happening with lawmakers and who is influencing them?

In the two weeks prior to the Health Care Summit over 3,000 registered lobbyists were “working” Washington - that’s six lobbyists for every lawmaker. This gives us some insight as to the impasse and the ineffective process we continue to see from Washington in dealing with the major issues facing our country. As President Obama stated, the American people don’t much care about the process of Congress, they care about results!

It’s very interesting to see how Washington is dealing with the Health Care Reform issue today.

After the wonderful private insurance  folks have hit us with another round of double digit rate increases, it appears the folks in Congress are rising to reintroduce the Public Health Care Option.  A big thank you to the private insurance companies for getting Congress to address what the majority of the people in this country want!

Vermont Senator Bernie Sanders says it all below.

Sanders Signs Letter Supporting Public Option

BURLINGTON, Vt. February 17 – Sen. Bernie Sanders (I-Vt.) today added his signature to a letter urging Senate Majority Leader Harry Reid (D-Nev.) to bring a public health insurance option before the Senate for a vote.

“At a time when there is deep skepticism and mistrust of the private insurance industry, when just last month a major health insurer in California announced it would raise its premiums by a whopping 39 percent in one fell swoop, the American people have made it clear that they want the option to buy their insurance through a Medicare-type, government-run public insurance plan,” Sanders said.

“The public option is not just important for the individual consumer, it is an important mechanism to provide competition for the private, for-profit health insurance industry, to keep them honest, and to lower the overall cost of health care in our country,” Sanders added.  “I am very pleased to join with my Senate colleagues to urge passage of a public health insurance plan using the budget reconciliation process.”

Sanders is a member of the Senate health committee.

Sen. Michael Bennet (D-Colo.) spearheaded the effort to revive the public option.

“Although we strongly support the important reforms made by the Senate-passed health reform package, including a strong public option would improve both its substance and the public’s perception of it,” the letter stated. “The Senate has an obligation to reform our unworkable health insurance market — both to reduce costs and to give consumers more choices. A strong public option is the best way to deliver on both of these goals, and we urge its consideration under reconciliation rules.”

Contact: Michael Briggs (202) 224-5141