Global Unions: Reform Banks Worldwide
The global union movement is calling on other governments to follow President Obama’s commitment to restructure banks as a key part of comprehensive financial regulatory reform. Obama has proposed a series of urgently needed reforms, including an end to the practice of banks using depositors’ money to engage in the kind of high-risk speculative operations, such as hedge funds and private equity, which helped plunge the world into recession.
As AFL-CIO President Richard Trumka said last week:
Financial companies must not be allowed to go back to business as usual—or worse. We urge the President and Congress to make financial re-regulation a top priority.
Trumka: Massachusetts Election Shows Need for Results in Washington
The American people are urgently expecting RESULTS from Washington. If elected officials want the support of working families, they need to fight to win legislation on jobs, health care and financial regulation. Americans need champions who will fight for their cause.
Scott Brown’s victory as the next senator from Massachusetts is a giant step backward for working families. Brown has already promised to be the 41st vote for the Republican party of NO on crucial improvements for working men and women.
Let’s just hope, as Jason Rosenbaum warns at the Seminal, that the Democrats don’t take the wrong lessons from this loss.
