The public has a thirst for a real crackdown on Wall Street. The Progressive Change Campaign Committee, in the 48 hours since it went out with a petition in support of a new Glass-Steagall Act to separate commercial and investment banking received 60,000 signatures, and counting. But it’s not just arcane subjects about permitted practices by financial firms that has animated people. Eric Griego, a Democrat running for the House in New Mexico, released an ad this week with the line “I won’t stop until Wall Street bankers who broke the law go to jail.” The ad starts with the story of Alan and Melinda Witt who lost a good deal of their life savings in the stock market during the 2008 crash, right as they had planned to retire.
|By: David Dayen Thursday May 17, 2012 12:00 pm|
|By: David Dayen Wednesday May 16, 2012 11:20 am|
The polling showing that voters hold negative opinions of the President’s performance in housing policy and Wall Street accountability suggests that Americans have a hungering for a much tougher policy on these issues and will reward candidates who reflect that, according to the pollster who did the survey.
|By: David Dayen Tuesday May 15, 2012 9:30 am|
If there’s one thing to be gained from the Fail Whale trade, it’s that one section of the political class has rediscovered the need for stronger financial regulations. Even politicians running for office are starting to runn on the need for more reform.