November, 04 2011, 01:00pm EDT
For Immediate Release
Contact:
Adam Sarvana (Rep. Grijalva) (202) 225-2435
Jennifer Porter Gore (Rep. Ellison) (202) 225-4755
Progressive Caucus Co-Chairs Urge No Immunity for Wall Street Banks
Reps. Raul M. Grijalva (D-AZ) and Keith Ellison (D-MN), co-chairs of the Congressional Progressive Caucus (CPC), today released the following statement in response to the proposed $25 billion settlement currently under negotiation by the state Attorneys General and the U.S. Department of Justice with banks largely responsible for the national foreclosure crisis:
WASHINGTON
Reps. Raul M. Grijalva (D-AZ) and Keith Ellison (D-MN), co-chairs of the Congressional Progressive Caucus (CPC), today released the following statement in response to the proposed $25 billion settlement currently under negotiation by the state Attorneys General and the U.S. Department of Justice with banks largely responsible for the national foreclosure crisis:
"Across the country, Americans are outraged and taking to the streets to demand accountability from the big Wall Street banks whose reckless actions cost millions of families their homes and wreaked havoc on the American middle class.
We applaud President Obama and the Justice Department for this effort to hold these banks accountable. However, a $25 billion settlement pales in comparison to the trillions of dollars in lost home equity, retirement savings and exploding public debt caused by these institutions.
We stand in support of the numerous Attorneys General that have demanded a better deal for homeowners in their states, from New York to California.
Instead of immunity for Wall Street banks, let's stand with the American people and demand a fair deal for homeowners."
The Congressional Progressive Caucus (CPC) is made up of nearly 100 members standing up for progressive ideals in Washington and throughout the country. Since 1991, the CPC has advocated for progressive policies that prioritize working Americans over corporate interests, fight economic and social inequality, and advance civil liberties.
(202) 225-3106LATEST NEWS
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