In Citizens United v. FEC, the U.S. Supreme Court held that corporations were free to use money from the corporation’s treasury on political activity.1 Setting aside for a moment the many criticisms of the decision, Citizens United left open a number of questions about who at a corporation should get to decide when a corporation spends money on politics. It has fallen to our system of corporate law to provide an answer.
This is the third of several papers examining the underlying validity of the assertion that regulation of the financial markets is unduly burdensome. These papers assert that the value of the financial markets is often mis-measured. The efficiency of the market in intermediating flows between capital investors and capital users (like manufacturing and service businesses, individuals and governments) is the proper measure. Unregulated markets are found to be chronically inefficient using this standard. This costs the economy enormous amounts each year.
Dramatic new public policy initiatives are needed to accomplish two broad interrelated goals: to ensure that all Americans have a chance to move into the middle class and, second, to ensure greater security for those in the middle class.
Good Afternoon. My name is Amy Traub and I am a senior policy analyst at Demos. We are a public policy organization working for an America where we all have an equal say in our democracy and an equal chance in our economy. I would like to thank the Progressive Caucus for this opportunity to provide testimony on our recent research.
I thank the committee for this opportunity to present testimony on the IDC’s campaign finance reform proposal. This testimony is submitted on behalf of myself and Miles Rapoport, President of Demos and former Secretary of the State of Connecticut.
Connecticut has offered a voluntary public financing system for state-wide constitutional and General Assembly offices since 2008. Through financing from the Citizens' Election Fund, candidates that obtain the required number of small donations can receive a lump sum to fund their campaign. The program is very popular and in 2012, 77 percent of successful candidates were publicly financed.
As former and present Secretaries of the State of Connecticut, we are very proud of our state for broadening our democracy by adopting a public financing system for our legislative and statewide campaigns. As former legislators, we understand intimately the fundraising aspects of standing for election, and as Secretaries of the State we have been responsible for administration and implementation of campaign finance laws.
One motivation for this hearing is the recent study by the Federal Trade Commission finding that one in five American consumers identified material errors on their credit reports that were substantiated by the credit reporting agencies.
Over the past decade, Demos has conducted extensive research on credit card debt among low- and middle-income households. As part of this research, we have become increasingly concerned with how families are being financially penalized for being in debt, making it difficult, if not impossible, for them to ever get out of debt. In 2012, we surveyed a nationally representative sample of about a thousand low- and middle-income households that were carrying credit card debt for three months or longer. I was the principal researcher on that study.
Young adults are in a critical period of change and choices, as they confront the decisions that will pave the way to their futures. But the generation coming into its own in the aftermath of the Great Recession faces challenges that threaten to undermine even the best laid plans.
Senator Musto, Representative Jutila, Senator McLachlan, Representative Hwang, Members of the Committee. Thank you for having me here today. It gives me great pleasure to come before the Committee on which I served for all ten years of my legislative service and with which I worked so closely in my years as Secretary of the State.
Demos is a public policy organization working for an America where we all have an equal say in our democracy and an equal chance in our economy. We are based here in New York City. On behalf of Demos, I thank the Committee on Civil Service and Labor for this opportunity to present testimony on Intro 97-A: The Paid Sick Time Act.
On March 15, 2013, the Senate’s Permanent Subcommittee on Investigations held hearings on the London Whale scandal. The indomitable and indefatigable Chairman Carl Levin, ably supported by the brilliant committee chief of staff, Elise Bean, took on six JP Morgan Chase (“JPMC”) current and former executives for four hours and three regulators for two, with support from other Committee members.