For Immediate Release
National Campaign: Mobilize for OUR Economy Launched
As Senate Says 'No' To Breaking Up Big Banks and Waters Down Audit of Fed
WASHINGTON - A coalition of advocacy groups have announced a broad-based Mobilization for Our Economy (see www.forOUReconomy.org), a grass roots campaign to wrest control of our economy from the big banks, crony capitalists and financial elites.
The group will be targeting the Federal Reserve system and the "Too Big to Fail" banks -- JP Morgan Chase, Bank of America, Goldman Sachs, Citigroup, Morgan Stanley and Wells Fargo -- with a wide range of ongoing protests.
While the Mobilization is timed with consideration of the so-called financial reform bill, the organizers see the current proposal being considered as an insufficient measure that will allow business as usual to continue in the financial industry that brought the nation to economic collapse and has stolen trillions of dollars in national wealth through the bailouts from the Federal Reserve and Treasury Department.
"The vote in the senate against an amendment to break up the big banks and the Sanders deal watering down the audit of the Federal Reserve ensure that there will be no real reform this year. We cannot let rhetoric of reform disguise enshrinement of the status quo. It's time for Americans to take OUR economy back from the big banks and financial interests that have looted it. Wall Street has pillaged our country. It has been bailed out and saved from their casino gambling, Ponzi schemes and allowed to continue their plunder," said Kevin Zeese, Executive Director of Prosperity Agenda. "These crony capitalists are the concentrated power that history has warned us about."
David DeGraw of AmpedStatus.com continued: "How much do they have to steal before Americans say, ‘No more, it is OUR money, it is OUR economy, it is OUR future'? How many more honest, law abiding, hardworking Americans have to lose their homes, jobs and struggle just to acquire basic necessities and make ends meet before these greedy bankers are held accountable?"
"We need to restructure, decentralize, and democratize the financial system," said Tiffiny Cheng of A New Way Forward. "The first step is to break up the too big to fail banks. You can't have free-market competition when a handful of big banks can rig the market and regulatory structure to benefit themselves at the expense of everyone else. The legislation being put forward by Chris Dodd does not go far enough in confronting the too big to fail problem making more bailouts inevitable."
At the heart of the issue is the unprecedented transfer of wealth away from 99 percent of the American population to the top of the financial sector. American households have lost $17 trillion due to this crisis. The financial reform bill does very little to address the systemic issues that have led to soaring inequalities of wealth and fueled the crisis.
This mobilization of groups aims to curtail the power and ability of the big banks to corrupt and capture regulators and policymakers. The founding organizations of the Mobilization include Amped Status, A New Way Forward, Prosperity Agenda, After Downing Street, the Backbone Campaign and Code Pink.
To see the video and Call to Action visit www.forOUReconomy.org.