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    Common DreamsTo inform. To inspire. To ignite change for the common good.

    great recession

    John Fetterman

    Senators Sound Alarm on Push to 'Undermine the Goals of Dodd-Frank'

    "We urge the commission to continue to focus on its vital work preserving market integrity and protecting the public, uphold the letter and spirit of the Dodd-Frank Act, and withdraw the proposed rule."

    Brett Wilkins
    Nov 27, 2023

    A trio of Democratic U.S. senators on Monday wrote to Commodity Futures Trading Commission Chair Rostin Behnam expressing their "serious reservations" with the agency's proposed rule on seeded funds and money market funds, a policy the lawmakers warned would "undermine the goals of Dodd-Frank" by rolling back the already weakened financial oversight law.

    Passed in the wake of the 2008 global financial meltdown, the Dodd-Frank Wall Street Reform and Consumer Protection Act—which was partially rolled back during the Trump administration—overhauled federal financial regulation. In a letter to Behnam, Sens. John Fetterman (Pa.), Sherrod Brown (Ohio), and Tina Smith (Minn.) assert that the CFTC's proposed rule is a "step in the wrong direction" that would increase market instability by decreasing collateral requirements for certain transactions.

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    News
    dodd-frank

    Why Student Loan Debt Harms Low-Income Students the Most

    Maggie Thompson
    May 03, 2016

    Four years ago, student loan debt in America topped $1 trillion. Today, that number has swelled even further, with some 43 million Americans feeling the enduring gravity of $1.3 trillion in student loan debt.

    While student debt may not intuitively register as something that plagues the poor, student debt delinquency and defaults are concentrated in low-income areas, even though lower-income borrowers also tend to have much smaller debts. Defaults and delinquencies among low-income Americans escalated following the Great Recession of 2008, a period when many states disinvested from public colleges and universities. The result was higher costs of college, which has led to larger loans.

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    Opinion
    student debt relief

    The Important Education Issue Leaders Are Still Ignoring

    Jeff Bryant
    Dec 18, 2015

    One of the more telling combinations of news stories from the past week found education policy insiders in Washington, DC, rejoicing over the passage of a new law rewriting federal education policy while, at the same time, a new report revealed how political leadership is continuing to fail America's public schools.

    This is not to say that revising federal education policy wasn't a worthwhile goal. For sure, the new law, dubbed the Every Student Succeeds Act, has corrected some harmful aspects of federal education policy. Many good commentaries have pointed out significant problems with the new law too. But such is the nature of legislating. You don't always get everything you want.

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    Opinion
    public schools

    Obama Regrets 'Taking the Joy Out of Teaching and Learning' with Too Much Testing

    Jesse Hagopian
    Oct 30, 2015

    In a stunning turn of events, President Obama announced last weekend that "unnecessary testing" is "consuming too much instructional time" and creating "undue stress for educators and students." Rarely has a president so thoroughly repudiated such a defining aspect of his public education policy. In a three-minute video announcing this reversal, Obama cracks jokes about how silly it is to over-test students and recalls that the teachers who had the most influence on his life did not prepare him best for his standardized tests. Perhaps Obama hopes we will forget it was his own Education Secretary, Arne Duncan, who radically reorganized America's education system around the almighty test score.

    Obama's statement comes in the wake of another study revealing the overwhelming number of standardized tests children are forced to take: The average student today is subjected to 112 standardized tests between preschool and high school graduation. Because it's what we have rewarded and required, America's education system has completely fixated on how well students perform on tests. Further, the highest concentration of these tests is in schools serving low-income students and students of color.

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    Opinion
    barack obama
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