On June 11, the National Community Reinvestment Coalition (NCRC) hosted a lively discussion on Capitol Hill entitled Beyond Bailouts: Strategies to Achieve a Safe and Sound Financial System for America featuring Simon Johnson, a MIT economist; NCRC’s Jim Carr, and Mike Lutz, Author of Progressive Revolution. The three speakers hit upon the theme that the largest banks have become too large, creating economic and political risks for the country.
The National Community Reinvestment Coalition held public rallies, forums and other educational events at 54 locations around the country as part of its Day of Action calling for Jobs and Homes Now and urging participants to get involved in the national effort to reform the broken financial system.
The fact that regular citizens have been largely excluded from the debate over financial regulation on Capitol Hill was underscored most vividly when Sen. Richard Durbin, D-Ill, said last month that “frankly the banks own the place.”
But this week a coalition of citizens groups have taken the offensive, organizing to demand a seat at the table in making a bank system that works for all of us, not just corporate profiteers. As part of that effort, a group of organizations including Campaign for America’s Future, National Community Reinvestment Coalition, and A New Way Forward met on Capitol Hill today to discuss a growing citizen’s movement to bring the voice of working families to the debate over banking system reform.
Riddle: Why is the world’s first richest man (Warren Buffet) committing more than $30 billion of his personal fortune to the philanthropic foundation of the world’s second richest man (Bill Gates)?
Hint: It’s not because Warren Buffet and Bill Gates are good friends (which they are) and often play bridge together (which they reportedly do).
With our national Day of Action around the corner, ReinvestmentWorks…the blog! is asking its readers to help us reach our 50 co-sponsors by 6/11 goal. We have created a list of tactics to make our campaign a success, and encourage you to let your Representative know why they should sign-on to pass CRA modernization!
