Today, citing clear evidence that the State of California is violating its federally-mandated responsibility to offer California drivers and ID card holders the opportunity to register to vote, attorneys from Demos, Project Vote, ACLU Foundation of San Diego and Imperial Counties, and the global law firm Morrison & Foerster sent a pre-litigation notice letter to the California Secretary of State on behalf of the League of Women Voters of California, ACCE Institute, California Common Cause, the National Council of La Raza, and several individual California citizens.
Eric Holder and his team announced a $1.4 billion settlement with Standard & Poor’s regarding its ratings of mortgage backed securities and its role in the crash of 2008. There is no question of the venality that dictated behavior at S&P and probably the other major rating agency, Moody’s. The financial and econometric models used by S&P were allowed to yield rosier results and to ignore risks despite internal concerns, and a major motivator was the drive to maintain market share in the massive mortgage marketplace.
Just 8 months ago, McDonald’s shareholders awarded Don Thompson with nearly $8 million in incentive pay for his performance as CEO—that’s compensation in addition to a base salary and benefits that topped $1.5 million.
According to the analysis of Americans for Financial Reform, that’s the amount the Consumer Financial Protection Bureau has returned to over 12 million Americans who have been harmed by the illegal, deceptive, and discriminatory practices of financial services companies. And the agency has only been around for three and half years.
For some in the financial services industry, that type of effective law enforcement is a problem.
Much of the buildup to President Obama’s State of the Union address made it sound as if he was going to read chapter and verse from French economist Thomas Piketty’s book, Capital in the 21st Century—you know, last year’s 700-plus page best seller, the one that was unexpectedly all the rage as it argued that vast economic inequality is as much about wealth (what’s owned) as it is about income (what’s earned). That one.
(NEW YORK, NY) – Last night, the President’s annual State of the Union highlighted policy proposals and reforms the administration will pursue in the coming months. In response, Demos President Heather McGhee issued the following statement:
For too long these issues, and many others that would tackle inequality to ensure a thriving American economy, have been placed on the back burner due to two issues that the President touched too briefly upon: our unequal democracy and our racial divisions.
The President’s focus on paid family leave in his State of the Union address and the week leading up to it is, in practical terms, a modest step forward. By requiring federal agencies to advance employees up to six weeks of paid sick leave when they have a baby, his memorandum issued last Thursday will directly strengthen the safety net under more than four million federal workers.
On the day before the fifth anniversary of Citizens United, the Supreme Court will hear arguments in Williams-Yulee v. The Florida Bar, which asks whether a rule that prohibits candidates for judicial office from personally soliciting campaign funds violates the First Amendment. At its core, the case raises the question as to what measures we will be permitted to take to protect the integrity of our justice system from the influence of big money.
Today, Obama will deliver the State of the Union address, which will focus on inequality, which he has previously called, “the defining issue of our time,” and which was recently highlighted by a proposal by Chris Van Hollen.
Today, President Obama announced a proposal to make two years of community college tuition-free. It’s a big deal. But it would be just as powerful a signal if we promised students a debt-free system of public higher education, one that could be financed entirely through part-time or summer work and modest savings.
Regulatory policies are expected to play a significant part in the agenda of the new Congress. Congressional leaders have indicated in particular that they will be holding hearings on EPA regulations that would affect the operation of coal fired power plants, and on aspects of the Affordable Care Act and the Dodd-Frank financial reforms.
Like all of us at Demos, I read the news of the murder of two NYPD officers and the attempted murder of a Baltimore woman with a feeling of horror. In a society so riddled with violence, access to guns and mental illness collide all too often in America, and in fact, every day a woman is attacked by a partner or estranged partner. When violence like this is prevented and assailants are apprehended, police officers get to be the heroes—but this weekend, two officers became victims.