Do we really think a few new laws will be enough to stop big banks and Wall Street from creating the next economic crash?
Yes, we need to pass new safeguards like the Consumer Financial Protection Agency and we need to take on too big to fail and outrageous executive compensationbut its not enough.
Today I addressed a crowd of more than 5,000 people outside the American Bankers Association convention in Chicago. I told them that we need to think bigger and bolder if we are really going to transform our economy.
We need to break the power that big banks and corporations have on our economy. They have spent decades rigging a system so that no matter what they do, they will always win at our expense.
So what do we do about it? We can begin by making sure that the architects of our current economic crisis are investigated, and if necessary, prosecuted for crashing our economy.
And who exactly are the architects of this crisis? Well, by now theyve become household namesGoldman Sachs CEO Lloyd Blankfein, JPMorgan Chase CEO Jamie Dimon, Bank of America CEO Ken Lewis, Wells Fargo CEO John Stumpf, and the list goes on.
These are the guys who spent years working to take our economy hostage, these are the guys who created the mortgage crisis, these are the guys who mastered credit default swaps and derivates, and these are the guys who will invent the next scheme to crash our economy and rob taxpayers of our hard earned money if we dont stop them.
The bankers have left Chicago with their marching orders and we have our own. The massive mobilizations we witnessed this week will continue in cities across our country until Congress puts the banks on trial and investigates exactly how we got to where we are today.
Pick up the phone or send an email and tell Congress to call the bankers in for an investigation into their efforts to crash our economy.
Do we really think a few new laws will be enough to stop big banks and Wall Street from creating the next economic crash?
Yes, we need to pass new safeguards like the Consumer Financial Protection Agency and we need to take on too big to fail and outrageous executive compensation - but it's not enough.
Today I addressed a crowd of more than 5,000 people outside the American Bankers Association convention in Chicago. I told them that we need to think bigger and bolder if we are really going to transform our economy.
We need to break the power that big banks and corporations have on our economy. They have spent decades rigging a system so that no matter what they do, they will always win at our expense.
So what do we do about it? We can begin by making sure that the architects of our current economic crisis are investigated, and if necessary, prosecuted for crashing our economy.
And who exactly are the architects of this crisis? Well, by now they've become household names - Goldman Sachs CEO Lloyd Blankfein, JPMorgan Chase CEO Jamie Dimon, Bank of America CEO Ken Lewis, Wells Fargo CEO John Stumpf, and the list goes on.
These are the guys who spent years working to take our economy hostage, these are the guys who created the mortgage crisis, these are the guys who mastered credit default swaps and derivates, and these are the guys who will invent the next scheme to crash our economy and rob taxpayers of our hard earned money if we don't stop them.
The bankers have left Chicago with their marching orders and we have our own. The massive mobilizations we witnessed this week will continue in cities across our country until Congress puts the banks on trial and investigates exactly how we got to where we are today.
Pick up the phone or send an email and tell Congress to call the bankers in for an investigation into their efforts to crash our economy.
Support HuffPost
Our 2024 Coverage Needs You
Your Loyalty Means The World To Us
At HuffPost, we believe that everyone needs high-quality journalism, but we understand that not everyone can afford to pay for expensive news subscriptions. That is why we are committed to providing deeply reported, carefully fact-checked news that is freely accessible to everyone.
Whether you come to HuffPost for updates on the 2024 presidential race, hard-hitting investigations into critical issues facing our country today, or trending stories that make you laugh, we appreciate you. The truth is, news costs money to produce, and we are proud that we have never put our stories behind an expensive paywall.
Would you join us to help keep our stories free for all? Your contribution of as little as $2 will go a long way.
Can't afford to donate? Support HuffPost by creating a free account and log in while you read.
As Americans head to the polls in 2024, the very future of our country is at stake. At HuffPost, we believe that a free press is critical to creating well-informed voters. That's why our journalism is free for everyone, even though other newsrooms retreat behind expensive paywalls.
Our journalists will continue to cover the twists and turns during this historic presidential election. With your help, we'll bring you hard-hitting investigations, well-researched analysis and timely takes you can't find elsewhere. Reporting in this current political climate is a responsibility we do not take lightly, and we thank you for your support.
Contribute as little as $2 to keep our news free for all.
Can't afford to donate? Support HuffPost by creating a free account and log in while you read.
Dear HuffPost Reader
Thank you for your past contribution to HuffPost. We are sincerely grateful for readers like you who help us ensure that we can keep our journalism free for everyone.
The stakes are high this year, and our 2024 coverage could use continued support. Would you consider becoming a regular HuffPost contributor?
Dear HuffPost Reader
Thank you for your past contribution to HuffPost. We are sincerely grateful for readers like you who help us ensure that we can keep our journalism free for everyone.
The stakes are high this year, and our 2024 coverage could use continued support. If circumstances have changed since you last contributed, we hope you’ll consider contributing to HuffPost once more.
Support HuffPostAlready contributed? Log in to hide these messages.