Make a Call: No More BailOuts For the Big Banks or Wall Street

Click below for a sample script and the number to call:

Seventeen Senate Democrats voted to side with Donald Trump and Wall Street and voted for legislation that would make bank bailouts more likely.¹

Progressive champion Sen. Elizabeth Warren blasted the vote, calling it “the same mistake [Congress] has made many times before, deregulating giant banks while the economy is cruising, only to set the stage for another financial crisis.”² It could get even worse – the far-right banking chair in the House is trying to fill the final legislation with even more gifts for Wall Street.

Every phone call to the 17 members of the Senate Bailout Caucus will show there are repercussions for picking Wall Street over Main Street and that making the bill worse is unacceptable. Can you help with a quick call right now?

Make a call: Shame on the Senate Bailout Caucus. Click here for a script and the phone number to get started with your calls.

Republicans have spent years attacking the Dodd-Frank protections on behalf of their big bank benefactors. Trump has made letting Wall Street go back to greedy and dangerous speculation one of his top priorities.

Recently, 17 members of the Senate Democratic caucus voted to line up behind Trump’s plans: Sens. Michael Bennet, Tom Carper, Christopher Coons, Joe Donnelly, Heidi Heitkamp, Doug Jones, Tim Kaine, Joe Manchin, Claire McCaskill, Gary Peters, Jon Tester, Mark Warner, Angus King, Jeanne Shaheen, Maggie Hassan, Debbie Stabenow and Bill Nelson.³

Intense pressure and phone calls from CREDO members and our progressive allies convinced a number of wavering senators to oppose the bill. We need to mobilize that same kind of pressure to make sure the Democrats who voted the wrong way know we are paying attention. Plus, every call makes it clear there is no political wiggle room to make the final legislation any worse.

Make a call: Shame on the Senate Bailout Caucus. Click here for a script and the phone number to get started with your calls.

Despite what some corporate Democrats say, there is no excuse for supporting this bill. Instead of colluding with an unpopular Trump White House, they could have put Republicans on the defensive with a bold agenda. Instead of echoing Republican talking points about protecting small banks, they could point to statistics that show that small banks are more profitable now than they were when Dodd-Frank was passed.⁴ They decided they would rather add their name to a Wall Street regulatory bailout the Trump administration has been pushing.

Make a call: Shame on the Senate Bailout Caucus. Click below for a script and the phone number to get started with your calls.

https://act.credoaction.com/call/bailout_caucus_acct/?t=8&akid=27843%2E6686651%2EQXYOTq

Thank you for speaking out,

Josh Nelson, Co-Director
CREDO Action from Working Assets

Click below for a sample script and the number to call:

References:

1. Jeff Hauser and Kurt Walters, “17 Senate Dems broke their contracts with their voters,” The Hill, March 25, 2018.
2. Erica Werner and Renae Merle, “Senate passes rollback of banking rules enacted after financial crisis,” The Washington Post, March 15, 2018.
3. Hauser and Walters, “17 Senate Dems broke their contracts with their voters.”
4. Hannah Levintova, “The Senate Is Getting Ready to Erode Obama’s Landmark Wall Street Law,” Mother Jones, Nov. 15, 2017.