Wednesday, October 23, 2013

Join Senator Grayson on new proposed financial rule

The following is from the Progressive Change Campaign Committee. The link to the petition has a button to read Senator Grayson's entire letter about the proposed new rule.

We could strike a major blow against the big banks and their ability to gamble with our money if we act by tomorrow. Financial regulators have proposed a new rule that ends big bank gambling. The rule requires banks to put up $89 billion to protect against the unforeseen losses like the ones that destroyed the economy in 2008. With this rule in place, the eight biggest banks -- including JP Morgan Chase, Bank of America, Citigroup, Wells Fargo, and Goldman Sachs -- will be much safer. The federal regulators are taking public comments on the rule this week and they usually only hear from banks. Those comments will help determine whether the final rule actually makes big banks safer, so we need to make sure the regulators hear from us.

If thousands of us sign, we’ll show that the public supports strong rules. This will be important throughout the regulatory process. Please take one minute to add your name to the letter.

We’ll deliver your signatures and comments to the bank regulators. Thanks for being a bold progressive.
--Forrest Brown, PCCC organizer

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