Wednesday, August 19, 2015

Let's Put Some Brakes on the Revolving Door

Dear MoveOn member,

I'm Lisa Donner, Americans for Financial Reform of Americans for Financial Reform, and I started a petition to The United States House of Representatives, The United States Senate, and President Barack Obama , which says:

Support the Financial Services Conflict of Interest Act -- new legislation, introduced by Sen. Tammy Baldwin and Rep. Elijah Cummings, that would slow down the revolving door between Wall Street and Washington.

The revolving door is out of control, and we've paid the price dearly – both in the years leading up to the financial crisis, when regulators too often ignored or abetted the reckless and irresponsible practices that ultimately brought down the economy, and in the years since, when too many regulators have succumbed to pressure to water down critical reforms designed to protect consumers and taxpayers.

We need rules to make sure our officials in Washington are tough, independent, and dedicated to the public interest. The Financial Services Conflict of Interest Act can be an important step in that direction. We ask you to do all you can to get this crucial legislation enacted.

The Financial Services Conflict of Interest Act would ban the "golden parachutes" that Wall Street uses to reward executives for taking jobs in government (a subtle form of bribery), limit the lobbying that can be done by financial regulators after they leave government, and expand the range of situations in which officials must recuse themselves from decisions affecting their former employers.

Personnel decisions are policy decisions - we've learned that again and again. This bill could make an important difference in slowing the revolving door.

Click here to add your name to this petition, and then pass it along to your friends.


–Lisa Donner, Americans for Financial Reform

This petition was created on MoveOn's online petition site, where anyone can start their own online petitions. Americans for Financial Reform didn't pay us to send this email—we never rent or sell the list.

Want to support our work? MoveOn member contributions have powered our work together for more than 17 years. Hundreds of thousands of people chip in each year—which is why we're able to be fiercely independent, answering to no individual, corporation, politician, or political party. You can become a monthly donor by clicking here, or chip in a one-time gift here.

This email was sent to eddie alfaro on August 19, 2015. To change your email address or update your contact info, click here. To remove yourself from this list, click here.

No comments:

Post a Comment