June, 25 2014, 12:36pm EDT
Who is Sallie Mae Lobbying?
Shareholders, students demand accountability from Sallie Mae at company’s annual shareholder meeting
NEWARK, Del.
Shareholders, student loan holders and veterans called on student lending giant Sallie Mae on Wednesday to disclose all its lobbying expenditures, both direct and indirect.
"Stockholders should be able to verify if Sallie Mae is acting consistently with its mission and publicly stated values," said Marilyn Carpinteyro, director for state operations for Common Cause and a speaker on behalf of the groups at Sallie Mae's annual shareholders meeting.
The lobbying disclosure proposal at Sallie Mae is part of a trend of shareholders asking major companies for more information regarding political activity. This year, shareholders have filed 135 proposals asking companies to disclose more about their lobbying activity and political spending. Proposals at Lorillard and Valero Energy received support from more than half of the shareholders.
Carpinteyro's plea, on behalf of a disclosure resolution filed by the AFL-CIO Reserve Fund, comes on heels of revelations that Sallie Mae violated the Servicemembers Civil Relief Act, the Federal Trade Commission Act and the Equal Credit Opportunity Act.
Last month, the Justice Department ordered Sallie Mae to pay $97 million for the violations, which included overcharging, mischarging or discriminating against more than 60,000 members of the armed services.
In a prepared statement, James Gilbert, director of the AFL-CIO Union Veterans Council, contended that the violations represented "a corporate culture that operates in the dark and victimizes borrowers."
Gilbert added, "Sallie Mae and Navient depend upon trust. They cannot afford to play fast and loose with lobbying spending. They cannot afford to cover up lobbying in Congress and in the state capitals."
The violations have raised questions about Sallie Mae's lucrative federal loan servicing contract with the Department of Education (DOE). The agency recently renewed the contract despite the Justice Department's findings, prompting renewed scrutiny from shareholders and activists who believe the company's lobbying of the department played a role in the DOE's leniency.
Jobs With Justice has spearheaded a petition asking DOE Secretary Arne Duncan to drop Sallie Mae/Navient's contract. Jobs with Justice also organized protests at DOE regional braches around the country to coincide with Sallie Mae's shareholder meeting today.
Public Citizen is a nonprofit consumer advocacy organization that champions the public interest in the halls of power. We defend democracy, resist corporate power and work to ensure that government works for the people - not for big corporations. Founded in 1971, we now have 500,000 members and supporters throughout the country.
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'My Own University... Has Abandoned Me': USC Cancels Muslim Valedictorian's Speech
"I am both shocked by this decision and profoundly disappointed that the university is succumbing to a campaign of hate meant to silence my voice," student Asna Tabassum said in a statement.
Apr 16, 2024
In a decision that the largest U.S. Muslim civil rights organization called "cowardly," the University of Southern California announced Monday that it would not allow a Muslim valedictorian to speak at its commencement ceremony, citing safety concerns.
USC's 2024 valedictorian, Asna Tabassum, is a first-generation South Asian Muslim student majoring in biomedical engineering with a minor in resistance to genocide. Her selection as valedictorian drew criticism from pro-Israel groups because of a link pasted into her Instagram profile that advocates for a single Palestinian state where "both Arabs and Jews can live together without an ideology that specifically advocates for the ethnic cleansing of one of them."
"This campaign to prevent me from addressing my peers at commencement has evidently accomplished its goal: Today, USC administrators informed me that the university will no longer allow me to speak at commencement due to supposed security concerns," Tabassum said in a statement. "I am both shocked by this decision and profoundly disappointed that the university is succumbing to a campaign of hate meant to silence my voice."
"I am not surprised by those who attempt to propagate hatred," Tabassum continued. "I am surprised that my own university—my home for four years—has abandoned me."
"USC cannot hide its cowardly decision behind a disingenuous concern for 'security."
In announcing the university's decision, provost and senior vice president for academic affairs Andrew Guzman said that, in recent days, "discussion relating to the selection of our valedictorian has taken on an alarming tenor."
Several groups had called for Tabassum's removal as valedictorian entirely because they argued the link that she shared, a slideshow titled "Free Palestine," was antisemitic.
"Trojans for Israel strongly supports the right to free expression—including informed criticism of the Israeli government. However, rhetoric that denies the right of the Jewish people to self-determination or calls for the destruction of the only Jewish state in the world must be denounced as antisemitic bigotry," a campus group wrote in a social media post calling on USC to choose a new valedictorian.
The slideshow Tabassum shared includes a page explaining that anti-zionism is not antisemitism and linking to a debate on the topic featuring former MSNBC host Mehdi Hasan and Israeli-Jewish historian Ilan Pappé.
Tabassum toldNBC Los Angeles that she had added the link to her Instagram bio five years ago—long before Hamas' deadly October 7 attack on Israel and Israel's ongoing genocide in Gaza—and that she had not written the text herself.
However, Israel's current war on Gaza has led to widespread campus protests at U.S. universities, as well as repression of pro-Palestinian student groups and national attention on university leaders' responses to the conflict, which has led to the resignation of at least two high-profile university presidents.
"The intensity of feelings, fueled by both social media and the ongoing conflict in the Middle East, has grown to include many voices outside of USC and has escalated to the point of creating substantial risks relating to security and disruption at commencement," Guzman said in the university announcement. "We cannot ignore the fact that similar risks have led to harassment and even violence at other campuses."
Guzman continued that he had spoken with the university's Department of Public Safety and campus security teams.
"After careful consideration, we have decided that our student valedictorian will not deliver a speech at commencement," Guzman said. "While this is disappointing, tradition must give way to safety."
The provost maintained that this was not a free speech issue.
"There is no free-speech entitlement to speak at a commencement," Guzman said. "The issue here is how best to maintain campus security and safety, period."
However, in her statement, Tabassum said that she attended a meeting with the provost and the associate senior vice president of safety and risk on Sunday, during which they told her that campus security would be able to protect her from any threats while speaking, but that taking appropriate measures would result in a commencement ceremony that was not what the university wants to "'present as an image.'"
"Because I am not aware of any specific threats against me or the university, because my request for the details underlying the university's threat assessment has been denied, and because I am not being provided any increased safety to be able to speak at commencement, there remain serious doubts about whether USC's decision to revoke my invitation to speak is made solely on the basis of safety," Tabassum said.
Council on American-Islamic Relations-Los Angeles (CAIR-LA) executive director Hussam Ayloush also cast doubt on the university's motives in a statement.
"USC cannot hide its cowardly decision behind a disingenuous concern for 'security,'" Ayloush said. "Asna is an incredibly accomplished student whose academic and extracurricular accomplishments made her the ideal and historic recipient of this year's valedictorian's honor. The university can, should, and must ensure a safe environment for graduation rather than taking the unprecedented step of cancelling a valedictorian's speech."
"The dishonest and defamatory attacks on Asna are nothing more than thinly-veiled manifestations of Islamophobia and anti-Palestinian racism, which have been weaponized against college students across the country who speak up for human rights—and for Palestinian humanity," Ayloush continued.
Earlier this month, CAIR released its 2024 civil rights report, stating the organization received more complaints of anti-Muslim bias than during any other year in its three decades of existence.
Ayloush argued that USC's decision to cancel Tabassum's speech "empowers voices of hate and censorship, violates USC's obligation to protect its students, and sends a terrible signal to both Muslim students at USC and all students who dare to express support for Palestinian humanity."
Washington Post columnist and Columbia adjunct Karen Attiah also saw the university's decision as a setback for academic freedom.
"What is happening at USC shows that the credibility/legitimacy of many liberal institutions died in Gaza," Attiah wrote on social media. "Western journalistic objectivity died in Gaza. True academic freedom died in Gaza. Do we see how much violence it takes to uphold an imperial status quo?"
Writer and editor Tom Gara called out the university for the discrepancy between its actions and its course offerings.
"Incredible story. USC offers a minor in 'resistance to genocide,' this girl minored in it, was named valedictorian, and then they cancelled her speech because she might talk about genocide," Gara said on social media.
CAIR-LA is calling on USC to reverse its decision and circulating a petition in support of this demand.
Tabassum, meanwhile, addressed her fellow students.
"As your class valedictorian, I implore my USC classmates to think outside the box—to work toward a world where cries for equality and human dignity are not manipulated to be expressions of hatred," she said. "I challenge us to respond to ideological discomfort with dialogue and learning, not bigotry and censorship. And I urge us to see past our deepest fears and recognize the need to support justice for all people, including the Palestinian people."
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Open Letter Demands Global Finance Overhaul to Fight Climate and Debt Crises
"The institutions of world finance have lost their muscle," wrote more than 100 activists, celebrities, and political leaders. "You can be the leaders who bring them into the 21st century."
Apr 16, 2024
Quoting the economist John Maynard Keynes at the time of the founding of the modern global finance system in 1944, more than 100 signatories on Tuesday called on the world's largest economies to allow the world "to taste hope again" by pouring resources into solving the global debt and climate crises.
Keynes remarked after the historic Bretton Woods meeting in New Hampshire that the summit offered new hope to everyone from "our businessmen and our manufacturers and our unemployed" as world leaders established the World Bank and the International Monetary Fund (IMF).
But with the world now "rocked by conflict, food insecurity, biodiversity loss, and spiraling inflation," said the signers of an open letter organized by communications and campaign group Project Everyone, the global community needs "another Bretton Woods moment"—one that would correct the "imperfect" system hammered out 80 years ago and live up to the ideals that were centered at the original meeting, including "prosperity as a means of peace" and wealth as a means of serving "the common good."
The letter states that global inequality is "compounded by the devastation wrought by climate change," which is disproportionately likely to impact the Global South even as developing countries contribute a mere fraction of the planet-heating emissions of wealthy nations.
The signatories—including International Rescue Committee CEO David Miliband, philanthropist Abigail Disney, and singer and activist Annie Lennox—called on G20 countries to take steps including tripling their investment in the World Bank and IMF, canceling developing countries' debt to the institutions, and reforming tax codes to ensure big polluters and the wealthiest people contribute to efforts to mitigate inequality.
"This is your chance," reads the letter, which was released as world leaders met in Washington, D.C. for the World Bank and IMF's Spring Meetings. "The institutions of world finance have lost their muscle. You can be the leaders who bring them into the 21st century. You can unlock the colossal public and private investment potential of renewable energy, sustainable agriculture, and climate adaptation."
Under the status quo, the signatories noted, the United Nations Sustainable Development Goals are "way off track," with $3 trillion still needed achieve the objective of a "greener, fairer, better world by 2030," as agreed to by 193 U.N. member states.
Project Everyone and its supporters reiterated a demand made by Oxfam International Monday to cancel debts owed by countries in the Global South that are facing rising inequality, as their debt obligations to the IMF and the World Bank have left them unable to invest in education, climate adaptation, housing, and other public services.
"Removing burdensome debt allows countries to invest in their people and their future: in resilience, education, health, and nutrition," wrote the signatories. "This drives growth and creates string partners to trade with... Each of us stands to gain from stability, lower food and energy costs, and nature protection."
The wealthiest countries in the world, said Project Everyone, must look to the leaders who met at Bretton Woods and "fulfill their promise: to transform these instruments for peace and prosperity and truly set them to work in our common interest."
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Aid Coalition Says Gaza Cease-Fire Needed to Avert 'Catastrophic' Middle East War
"To avoid the security situation spiraling out of control, all efforts must be made to ensure de-escalation through political and diplomatic means alone."
Apr 16, 2024
A coalition of more than a dozen humanitarian groups on Tuesday stressed the need for an immediate cease-fire in the Gaza Strip following Iran's retaliatory attack on Israel, which has been waging a devastating war on the Palestinian enclave for more than six months.
The humanitarian groups—including International Rescue Committee, Norwegian Refugee Council, Save the Children, and ActionAid—said in a joint statement that "recent escalations in the Middle East are unprecedented and risk regional conflagration, threatening the lives of millions of civilians."
"To avoid the security situation spiraling out of control, all efforts must be made to ensure de-escalation through political and diplomatic means alone," the statement reads. "A regional conflict would be catastrophic for the Middle East, where millions are already affected by existing crises due to conflict, displacement, poverty, and climate change."
The groups argued that escalating tensions between Israel and Iran "are closely linked to the ongoing conflict in Gaza," underscoring the need for "an immediate and permanent cease-fire" to "prevent further human suffering and to de-escalate tensions in the region."
"This latest round of violence was predictably fueled by decades of impunity for state violations of a most fundamental global rule: the prohibition on the use of force."
The statement comes days after Iran launched hundreds of drones and missiles at Israel over the weekend in response to the Israeli military's bombing of Tehran's consulate in the capital of Syria earlier this month—an attack that killed diplomats and a senior Islamic Revolutionary Guard Corps commander.
United Nations experts said Tuesday that both Israel's consulate attack and Iran's retaliation violated international law. The experts also said an Israeli military response to Iran's missile and drone attack would be illegal.
"This latest round of violence was predictably fueled by decades of impunity for state violations of a most fundamental global rule: the prohibition on the use of force," the experts said.
The broader Middle East conflict stemming from Israel's assault on the Gaza Strip now involves at least 16 countries, and Iran's retaliation against Israel led war hawks in the U.S. to call for further escalation—including a direct U.S. attack on Iran.
Israel, for its part, has pledged to "exact a price from Iran" in response to the firing of missiles and drones, most of which were intercepted with U.S. help.
The humanitarian coalition warned Tuesday that any further military exchanges would risk disaster and implored all parties involved to "immediately work towards de-escalation."
"Drawing on our extensive collective experience in the region, we understand that crises in the Middle East often have far-reaching consequences beyond its borders," the groups said. "A regional conflict would likely result in significant global ramifications, including forced displacement and migration, disruptions to global supply chains, and impacts on energy supplies."
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