If it's good enough for the banks, it's good enough for students:Become a citizen co-sponsor of the Bank on Students Loan Fairness Act now

	On July 1st, the interest rate on new, federally subsidized student loans is set to double from 3.4 to 6.8 percent. The government plans to charge students 6.8%, but they lend money out every day for a whole lot less. They just don't do it for everyone. Right now, a big bank can get a loan through the Federal Reserve discount window at a rate of about 0.75%. Those are the same big banks that destroyed millions of jobs and nearly broke our economy. That isn't right. And that's why I introduced legislation to give students the same deal we give to the big banks. This was my very first bill in the U.S. Senate, and I'm going to fight for its passage. And we're already starting to move: Rep. John Tierney just introduced a companion bill in the U.S. House. We're ready to go! Become a citizen co-sponsor of the Bank on Students Loan Fairness Act now. The Bank on Students Loan Fairness Act would allow students who are eligible for federally subsidized Stafford loans to borrow at 0.75% -- the same rate that big banks get. For one year, the Federal Reserve would make funds available to the Department of Education to cover the loans and give students relief from high interest rates while giving Congress time to find a long-term solution. If the government can float huge sums of money to large financial institutions at low interest rates to grow the economy, surely it can float the money necessary to fund our students, keep us competitive, and grow our middle class. I need your help building the public support to get my first bill through the House and Senate. Become a citizen co-sponsor of the Bank on Students Loan Fairness Act now. I met a young man at a campaign event last year. He held his hand out, looked me straight in the eye, and he said to me: I did everything you all told me to do. I worked hard, I got good grades, and I got into college. I borrowed money, I worked hard, and I graduated. Now I have $54,000 in student loans. The best I can find is a part-time job. I've moved back in with my mom and dad… And I'm getting scared about whether there's a future out there for me. The worst part of that young man's story is that he's not alone -- He's part of a whole generation drowning in student loans. Today's students carry more than $1 trillion in debt -- more than all the outstanding credit card debt in the whole country. That young man said to me, "I'm here because I'm looking for a fighter." I'm ready to fight. Thank you for being a part of this, Elizabeth P.S. Students don't have an army of lobbyists, but they do have us. Don't forget to show your support for the Bank on Students Loan Fairness Act now.

Elizabeth Warren Wants a New Glass-Steagall Act

We've seen all the headlines: JP Morgan Chase took risky bets and lost two billion dollars in a matter of weeks.
CEO Jamie Dimon called the bets "poorly reviewed" and even "sloppy." He added, "We will learn from it, we will fix it, and we will move on."
Frankly, I don't think we should just trust Wall Street banks to regulate themselves. Because as we learned during the 2008 financial crisis, they are not just taking risks with their own money -- they are taking risks with the whole economy.
That's why today, with the Progressive Change Campaign Committee, I'm calling on Congress to put Wall Street reform back on the agenda and to begin by passing a new Glass-Steagall Act. This was the law that stopped investment banks from gambling away people's life savings for decades -- until Wall Street successfully lobbied to have it repealed in 1999.
Will you join us in calling on Congress to hold Wall Street accountable and pass a new Glass-Steagall Act? Click here to stand with us!
A new Glass-Steagall would separate high-risk investment banks from more traditional banking. It would allow Wall Street to take risks, but not by dipping into the life savings and retirement accounts of regular people.
And by making banks smaller, a new Glass-Steagall could also help put an end to banks that are "too big to fail" -- further avoiding costly taxpayer bailouts.
Wall Street's risky bets nearly brought the economy to its knees in 2008. But instead of taking responsibility, Wall Street lobbied to water down the Dodd-Frank financial reforms of 2010 and fought to weaken the reforms Congress passed.
It has become clear over time -- and made even clearer this past week -- that additional Wall Street reforms are needed.
Please join us in urging Congress to put Wall Street reform back on the table -- and pass a new Glass-Steagall Act today.
If I'm elected to the U.S. Senate from Massachusetts, I promise this difference from my Republican opponent Scott Brown: I will be a reliable and strong champion for commonsense Wall Street reform. But we don't have a moment to waste.
Together, we must urge Congress to act now.
Thank you,

Elizabeth

Oppose attempts to weaken the Consumer Financial Protection Bureau.

Senate Republicans have given up their fight against consumer advocate Elizabeth Warren.

That's the good news. But the bad news is now they say they’ll oppose any nominee to run the new Consumer Financial Protection Bureau unless the agency is watered down first.*

Republicans in the House are fighting the new consumer bureau too, with bills to weaken the agency. It’s time to send a clear message that Americans want to end the financial tricks and traps.

Tell your representative: Oppose attempts to weaken the Consumer Financial Protection Bureau.

Warren recently explained to Jon Stewart on the Daily Show that opponents of Wall Street reform in the House are still attempting to “stick a knife in the ribs” of the new agency.

These enemies of Wall Street reform are working to make the bureau into a weak, ineffective agency without the will or ability to curb the kind of financial abuses that caused the nation’s worst financial crisis since the Great Depression.

Go to: Learn more about the bills attacking the consumer bureau and take action.


Thanks for all you do,

Rick Claypool
Public Citizen’s Online Action Team
action@citizen.org

Donate to Public Citizen to fight anti-Wall Street Reform efforts

* Read more about the politics surrounding the nomination of Elizabeth Warren to run the Consumer Financial Protection Bureau and why we think we're in a position to win.

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