November, 05 2020, 11:00pm EDT
For Immediate Release
Contact:
Wall Street Must Condemn Trump's Attack on Democracy
Stop the Money Pipeline calls on Wall Street and corporate leaders to condemn Trump’s attacks on democracy.
WASHINGTON
With Donald Trump attempting to undermine election results, Wall Street institutions and their CEOs must step up to help defend our democracy, say groups with Stop the Money Pipeline, a coalition of over 130 organizations working to end the financing of fossil fuels.
"Trump is trying to steal the election and Wall Street is silent," said Amy Gray, co-coordinator of the Stop the Money Pipeline coalition. "The only thing that Trump cares about nearly as much as himself is the stock market. If Wall Street tells Trump and the GOP every vote must be counted, he might just listen. After all the ways the public has bailed out these financial institutions, they have a moral responsibility to help defend our democracy during this dark hour."
The CEOs of major financial institutions and other corporations have remained largely silent since the election, seemingly content to make millions on a stock market bump while our very democracy hangs in the balance.
The only CEO who came close to a public statement about the importance of counting every vote was JPMorgan Chase CEO Jamie Dimon, who sent a memo to employees on Wednesday, saying, "While strong opinions and tremendous passion characterized this U.S. election, it is the responsibility of each of us to respect the democratic process, and ultimately, the outcome." No executive at a major bank, insurance company or asset manager has openly criticized the President's blatant attempts to steal the election.
"This is a once in a lifetime moment of consequence and we demand Wall Street leaders like Jamie Dimon rise to the occasion and make clear that above all else the preservation of our democracy must be prioritized at all costs," said Paddy McCully, Climate and Energy Program Director with Rainforest Action Network. "And preserving our democracy means counting all the votes and being willing to shut down the economy and withdraw all forms of cooperation with an illegitimate regime if Trump follows through on threats to undermine our democratic systems to hold onto power."
In late October, groups with Stop the Money Pipeline sent a letter to the CEOs of nine different financial institutions calling on them to make public statements about the need for a free and fair election. The groups wrote, "We know that Wall Street cannot, and should not, save our democracy. But any claim to civic leadership entails both the opportunity and the responsibility to help defend democracy in moments of crisis and potential peril."
The letter echoed the Interfaith Center for Corporate Responsibility's call for corporations to ensure a free and fair election and peaceful transfer of power, as well as other public calls for business leaders to protect our democracy. The ask for financial institutions was to make a public commitment, either by signing on to a statement like the Leadership Now Project's Business Statement on the Election, making a commitment with the Civic Alliance, or making their own public statement.
A number of corporations made relatively bland statements about the importance of a free and fair election ahead of November 4. That included JPMorgan Chase CEO Jamie Dimon, who sent a memo to all his employees that said, "The peaceful and stable transition of power -- whether it is to the second administration of a president or a new one -- is a hallmark of America's 244-year history as an independent nation." An executive at Goldman Sachs responded to Stop the Money Pipeline with an email that said they were giving their employees half a day off to vote.
Since then, most corporations have remained silent, although the US Chamber of Commerce did put out a joint statement with the AFL-CIO calling on all parties to respect the vote. As of Thursday evening, no CEO or corporation, including on Wall Street, had spoken out about Trump's outrageous attacks on democracy at his White House press conference.
Stop the Money Pipeline has been encouraging its tens of thousands of supporters to join demonstrations to protect our democracy and demand that every vote be counted. Many of our over 130 coalition partners are engaged in similar efforts to "protect the process." Over the coming days, Stop the Money Pipeline will continue to call on Wall Street institutions and other corporations to publicly condemn Trump's baseless attacks on the election and our democracy.
LATEST NEWS
Grand Jury Indicts Top Trump Aides, 11 Arizona Republicans Over 'Fake Electors' Scheme
Had it succeeded, said the state's attorney general, the scheme would have "deprived Arizona's voters of their right to have their votes counted for their chosen president."
Apr 25, 2024
A grand jury in Arizona on Wednesday charged seven aides to Donald Trump and nearly a dozen Republican officials over a "fake electors" scheme in the state that aimed to keep the former president in power after his 2020 loss to President Joe Biden.
Trump, who is currently facing nearly 90 charges across four criminal cases as he runs for another White House term, was described as "unindicted co-conspirator 1" in the 58-page indictment, which was announced by Arizona Attorney General Kris Mayes.
"The people of Arizona elected President Biden," Mayes, a Democrat, said Wednesday. "Unwilling to accept this fact, the defendants charged by the state grand jury allegedly schemed to prevent the lawful transfer of the presidency. Whatever their reasoning was, the plot to violate the law must be answered for."
The indictment names former Arizona Republican Party Chair Kelli Ward, sitting state Republican Sens. Jake Hoffman and Anthony Kern, former U.S. Senate candidate Jim Lamon, and seven others as the "fake electors" who sought to declare Trump the rightful winner of the state's presidential contest.
The names of other individuals indicted by the state grand jury are redacted, but the document's descriptions make clear that former White House Chief of Staff Mark Meadows, former Trump attorney Rudy Giuliani, and top Trump legal strategist Boris Epshteyn are among those facing felony charges—including fraud, forgery, and conspiracy.
"In Arizona, defendants, unindicted coconspirators, and others pressured the three groups of election officials responsible for certifying election results to encourage them to change the election results," the document reads. "Discussions about using the Republican electors to change the outcome of the election began as early as November 4, 2020. Those plans evolved during
November based on memos drafted by [an attorney for the Trump campaign, Kenneth Chesebro]."
Mayes said Wednesday that had the fake elector scheme succeeded, it would have "deprived Arizona's voters of their right to have their votes counted for their chosen president."
"It effectively would have made their right to vote meaningless," said Mayes.
A state grand jury, made up of everyday, regular Arizonans, has handed down felony indictments in the ongoing investigation into the fake elector scheme in Arizona. pic.twitter.com/Nu8GcD4ZqJ
— AZ Attorney General Kris Mayes (@AZAGMayes) April 24, 2024
Alex Gulotta, state director of All Voting Is Local Action Arizona, said Wednesday that "the indictment of the eleven fake electors is one of the first steps required in holding these election deniers accountable for their alleged attempts to take power away from voters by disrupting our free and fair elections."
"Arizonans deserve to trust the election officials responsible for administering our elections and preserving our democracy," said Gulotta, "and this is a positive step forward as we continue to strengthen the foundations of our democracy and restore faith in our elections."
The Arizona Republicreported Wednesday that "several of the Arizona electors have previously claimed they were merely offering Congress a backup plan, though nothing in the documents they sent to Congress and the National Archives backs up that assertion."
"The indictment includes several statements the false electors made on social media that contradict those claims," the newspaper observed.
Jenny Guzman, director of Common Cause's Arizona program, said the indictment "marks the start of a new chapter for the fake elector scheme that has plagued Arizona."
"Arizonans are still dealing with the fallout from the false electors and the Big Lie about the 2020 elections," said Guzman. "We are relieved that the investigation by Attorney General Mayes has concluded and Arizonans can now know that what comes next is accountability. These efforts by these fake electors to undermine the will of Arizona’s voters have had implications far beyond their failed attempt to overthrow the 2020 election."
"This indictment can reassure all Arizonans that if anyone, regardless of their political affiliation, attempts to undermine their vote, consequences will follow," Guzman added.
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Watchdog Urges FEC to Investigate Trump Campaign Over Scheme for Legal Fees
"By not disclosing the vendors that actually provided legal services, the Trump-affiliated committees effectively blocked the public from knowing which attorneys and firms are being paid—and how much."
Apr 24, 2024
A campaign finance watchdog on Wednesday filed a Federal Election Commission complaint accusing former President Donald Trump's 2024 campaign, affiliated political groups, and an accounting firm of violating U.S. law in a scheme "seemingly designed to obscure the true recipients of a noteworthy portion of Trump's legal bills."
The Washington, D.C.-based Campaign Legal Center (CLC) said that "evidence appears to show an illegal arrangement between several Trump-affiliated committees and a compliance firm named Red Curve Solutions that is designed to obscure the identities of those providing legal services and how much they are being paid."
"Voters have a right to know how the presidential campaigns and other committees supporting presidential candidates spend their money."
CLC alleges that the Trump campaign, Trump's political action committee (PAC) Save America, and three affiliated organizations "violated federal reporting requirements based on a scheme in which the committees reportedly paid over $7.2 million—described as 'reimbursement for legal' costs or expenses"—to Red Curve.
The watchdog also said that Red Curve appears to be "making or facilitating illegal contributions that violate either federal contribution limits or the prohibition on corporate contributions."
According to CLC:
Red Curve is a domestic limited liability company that offers compliance and FEC reporting services but does not appear to offer any legal services. It is managed by Bradley Crate, who also serves as the treasurer for each of the five Trump-affiliated committees concerned in this complaint, as well as over 200 other federal committees.
According to filings with the FEC, Red Curve appears to have been fronting legal costs for Trump since at least December 2022, with Trump-affiliated committees repaying the company later. This arrangement appears to violate FEC rules that require campaigns to disclose not only the entity being reimbursed (here, Red Curve) but also the underlying vendor. By not disclosing the vendors that actually provided legal services, the Trump-affiliated committees effectively blocked the public from knowing which attorneys and firms are being paid—and how much they are being paid—through this arrangement.
"Voters have a right to know how the presidential campaigns and other committees supporting presidential candidates spend their money," CLC senior director of campaign finance Erin Chlopak said in a statement. "When campaigns and committees obscure that information from the public, not only do they make it difficult to determine if the law has been violated, but they deny voters the ability to make an informed choice when casting a ballot."
"The steps taken by the Trump campaign, its affiliated committees, and Red Curve Solutions concealed information about how campaign funds were used to pay former President Trump's legal expenditures, including the amounts and ultimate recipients of these expenditures—and the FEC must investigate immediately," Chlopak added.
Trump—who is the presumptive 2024 GOP presidential nominee—faces 91 federal and state felony charges related to his role in the January 6 insurrection and his organization's business practices. He is currently on trial in New York for allegedly falsifying business records related to hush money payments to cover up sex scandals during the 2016 election cycle. The twice-impeached former president has been open about his use of campaign donations to pay his legal costs.
The new CLC filing comes a day after the watchdog filed separate FEC complaints urging investigations into a pair of Trump-affiliated "scam PACs," which "pretend to fundraise for major candidates or issues while secretly diverting almost all of their donors' money back into fundraising or the fraudsters' own pockets."
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'One Step Closer': Arizona House Votes to Repeal 1864 Abortion Ban
"With a total ban still set to take effect June 8, the Arizona Abortion Access Act is needed now more than ever," one state campaigner said of a November ballot measure.
Apr 24, 2024
Three Republicans in the Arizona House of Representatives on Wednesday joined with Democrats to advance legislation that would repeal an 1864 ban on abortion—a development rights advocates welcomed while stressing that the fight is far from over.
The 32-28 vote on House Bill 2677—with GOP Reps. Tim Dunn (25), Matt Gress (4), and Justin Wilmeth (2) voting in favor—was the third attempt in as many weeks to pass repeal legislation since the Arizona Supreme Court upheld the ban.
"The state Senate could vote on the repeal as early as next Wednesday, after the bill comes on the floor for a 'third reading,' as is required under chamber rules," according toNBC News. Democratic Gov. Katie Hobbs on Wednesday toldThe Washington Post that "I am hopeful the Senate does the right thing and sends it to my desk so I can sign it."
Applauding the House passage of H.B. 2677, Planned Parenthood Advocates of Arizona president and CEO Angela Florez said that "today, Arizona is one step closer to repealing the state's Civil War-era total abortion ban. While the repeal still must pass the Senate, this is a major win for reproductive freedom."
"We must celebrate today's vote in support of abortion rights and harness our enthusiasm to spread the word and urge lawmakers in the Senate to support this necessary repeal bill," she continued. "Despite this step forward, Arizonans cannot stop fighting."
Florez noted that "even with the repeal of the Civil War-era ban, the state will still have a ban on abortion after 15 weeks of pregnancy that denies people access to critical care. And lawmakers continue to attack Arizonans' ability to access reproductive healthcare. Our right to control our bodies and lives is hanging on by a thread."
"Thankfully, voters will have the opportunity to take back control if the Arizona Abortion Access Act is on the ballot this November," she added. "Abortion bans are out-of-step with the will of Arizonans and will force pregnant people to leave their communities for essential healthcare. Planned Parenthood Advocates of Arizona will continue fighting to ensure everyone has the right to make decisions about their health and futures."
The Arizona Abortion Access Act is a proposed state constitutional amendment that would prevent many limits on abortions before fetal viability and safeguard access to care after viability to protect the life or physical or mental health of the patient.
The coalition supporting the amendment, Arizona for Abortion Access, highlighted on social media that the House-approved bill "did not include the emergency clause required to stop the 1864 ban from taking effect on June 8," meaning H.B. 2677 wouldn't apply until 90 days after the end of the legislative session.
Coalition campaign manager Cheryl Bruce said that "with a total ban still set to take effect June 8, the Arizona Abortion Access Act is needed now more than ever. We remain committed to taking these decisions out of the hands of extremist politicians."
Arizona is one of multiple states where rights advocates are promoting abortion rights ballot measures this cycle. Reproductive freedom is also dominating political races at all levels, including the presidential contest. Democratic President Joe Biden is set to face former Republican President Donald Trump in November.
"Donald Trump is responsible for Arizona's abortion ban. Women in the state are still living under a ban with no exceptions for rape or incest and have been stripped of the freedom to make their own healthcare decisions," said Julie Chávez Rodriguez, Biden and Vice President Kamala Harris' reelection campaign manager.
While the presumptive GOP nominee has tried to distance himself from the Arizona Supreme Court's reinstatement of a 160-year-old abortion ban, he has also campaigned on his three appointees to the U.S. Supreme Court who helped reverse Roe v. Wade.
"Trump brags that he is 'proudly' the person responsible for these bans and if he retakes power, the chaos and cruelty he has created will only get worse in all 50 states," Chávez Rodriguez said. "President Biden and Vice President Harris are the only candidates who will stop him."
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