Thursday, October 16, 2008

During the recess: tell Congress to stop casino economics




Members of Congress have left Washington for the campaign trail.

Now is the time to tell them you want strict regulation of Wall Street. No More Casino Economy! Like the $60 TRILLION in "credit default swaps" that are totally unregulated.

Congress must convene for a Lame Duck session in order to:

Create a Public Reconstruction and Development Bank to create jobs at home for the victims of the speculators by investing in

  • energy efficiency, public transportation and decentralized solar/wind to stop the climate melt down
  • our municipal water/sewer infrastructure to ensure safe, affordable drinking water for everyone
  • high quality public education for all

Finance the bank by

  • instituting a tax on all investment transactions including on “new financial products” such as the credit-default swaps
  • heavily taxing speculator profits
  • establishing progressive income and inheritance taxes
  • eliminating the tax preference for capital gains

And tell all candidates you want their pledge to:

  • Establish single payer health care to stop the hemorrhaging from unaffordable health care while private health insurers pocket the profits. Support HR 676, the United States National Health Insurance Act
  • Fully fund public radio and TV to eliminate all corporate sponsorship and ensure unbiased reporting
  • Stop the Casino Economy. There must be strict regulation for all of Wall Street, not just the banks. Congress must not allow risky transactions like the approximately $60 TRILLION in "credit default swaps" to remain unregulated.

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