Last week, Elizabeth Warren gave what some are calling a historic speech against bank power, telling Citigroup, “[we] should have broken you into pieces.”
Thursday, right on Wall Street, the PCCC is holding a big media event to amplify to the need to break up Citigroup and the other too-big-to-fail banks. Are you in New York City? RSVP here.
This petition will be featured at the Wall Street event, and the PCCC will use the growing number of signers to convince other senators to support Warren’s agenda. Your signature will have an immediate impact.
The PCCC will also be working hard — through grassroots phone calls and in-person Capitol Hill meetings — to get more support for Elizabeth Warren’s big ideas on Wall Street reform.
After Senator Elizabeth Warren famously told Citigroup the Dodd-Frank financial reform bill “should have broken you into pieces,” she said this:
A century ago, Teddy Roosevelt was America’s trustbuster. He went after the giant trusts and monopolies in this country, and a lot of people talk about how those trusts deserved to be broken up because they had too much economic power. But Teddy Roosevelt said we should break them up because they had too much political power. Teddy Roosevelt said break them up because all that concentrated power threatened the very foundations of our democratic system.
And now we’re watching as Congress passes yet another provision that was written by lobbyists for the biggest recipient of bailout money in the history of the country. And it’s attached to a bill that needs to pass or else the entire federal government will grind to a halt.
Think about this kind of power. A financial institution has become so big and so powerful that it can hold the entire country hostage. That alone is a reason enough for us to break them up. Enough is enough.
In her speech, Senator Warren addressed Citigroup criticism of the Dodd-Frank financial reform bill, saying this:
If we are going to open up Dodd-Frank, let’s open it up so that, once and for all, we end “too big to fail”. And I mean let’s really end it — not just say we did.
Instead of passing laws that create new bailout opportunities for too-big-to-fail banks … let’s pass something — anything — that would help break up these giant banks.
If you missed Senator Warren’s amazing speech, watch it in full just below this post. Then, sign the PCCC petition to Congress to break up these giant Wall Street banks.