Yesterday, Elizabeth Warren told ABC News’ This Week "We can’t keep
repeating this approach of weakening the regulation over the banks, then
stepping in when these giant banks get into trouble."

She was responding to questions about the continuing fallout from the
failures of Silicon Valley Bank and Signature Bank -- bank collapses made
possible because of Trump deregulation.

Last week, Senator Warren and Representative Katie Porter introduced a
bill to restore critical bank regulations that were repealed during the
Trump administration. These protections are needed to safeguard our
economy and jobs from reckless bankers causing another disaster like the
2008 financial crisis.

[ [link removed] ]Can you sign and send a message to your members of Congress telling
them you support Elizabeth Warren and Katie Porter’s Secure Viable Banking
Act – and ask them to co-sponsor it now? Click here.

We’ve been down this path before. After the 2008 financial economic
collapse that cost millions of people their homes and jobs, Congress
passed the Dodd-Frank law to protect Americans from Wall Street banks
taking reckless risks.

But in 2018, Trump signed a law passed mainly by Republicans to roll back
some of those protections so that certain enormous banks could juice their
profits by taking bigger risks.

Elizabeth Warren and Katie Porter warned at the time that weakening the
rules for these banks was a mistake that would lead to bank failures and
put everyday people at risk. The collapse of Silicon Valley Bank and
Signature Bank should be seen as a big wake-up call that Warren and Porter
were right -- and these banks need to be re-regulated to prevent the next
crisis.

Unfortunately, some members of Congress are still listening to Wall Street
lobbyists over their own voters. They want to believe they can ignore what
happened and the public won’t care.

There's one way to change that -- hearing directly from their
constituents.

[ [link removed] ]Reversing the Trump’s dangerous and damaging deregulation must be a
priority for Congress. Tell your Senators and Representatives to
co-sponsor the Secure Viable Banking Act now.

Thanks for being a bold progressive.

-- The PCCC Team ([ [link removed] ]@BoldProgressive)

 

 

 


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