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Winning Issue » BANK BAILOUTS


The Troubled Assets Relief Program (TARP) redistributed $700 billion of taxpayer funds to banks and financial institutions that were about to go bankrupt when the housing bubble burst in 2008. At the time, these institutions were considered to be “too big to fail.” This catastrophe would have led our nation and the world into a deep economic depression had we not agreed to a bailout. TARP was passed with hardly any debate, little oversight, and was virtually a giveaway to our financial services sector. Many families lost their homes, retirement savings and the ability to pay for their children’s college educations. Opponents charged that TARP let banks evade responsibility for their reckless gambles. No bank executives were charged with the crimes that brought the world to the brink. Advocates say we are still vulnerable from unscrupulous actions by our financial sector that could lead to another economic meltdown.

Proposed Legislation: Reintroducing S.1005 - Ending Too Big to Jail Act (116th Congress 2019-2020)
Prospective Sponsor: Sen. Elizabeth Warren (MA)




Options


  • I oppose reforming current bank bailout policy and wish to donate resources to the campaign committee of Leader Charles Schumer (NY).
  • I support:
    1.) Investigating crimes within financial institutions when such institutions fail.

    2.) Requiring these institutions, bank holding companies and savings and loan holding companies with assets greater than $10 billion to annually certify that all criminal conduct and civil fraud has been disclosed to the Department of Justice.

    3.) Establishing civil and criminal penalties for violations.

    And wish to donate resources to the campaign committee of Sen. Elizabeth Warren (MA) and/or to an advocate group currently working with this issue.


Winning Option
  • I support:
    1.) Investigating crimes within financial institutions when such institutions fail.

    2.) Requiring these institutions, bank holding companies and savings and loan holding companies with assets greater than $10 billion to annually certify that all criminal conduct and civil fraud has been disclosed to the Department of Justice.

    3.) Establishing civil and criminal penalties for violations.

    And wish to donate resources to the campaign committee of Sen. Elizabeth Warren (MA) and/or to an advocate group currently working with this issue.
There has been $0.00 pledged in support of this issue
Trustee Candidates

If elected as a trustee, the campaign committee of Sen. Elizabeth Warren (MA) will be unconditionally awarded the funds pledged to this issue along with a letter requesting her to favorably consider reintroducing S.1005 - Ending Too Big to Jail Act (116th Congress 2019-2020).

If elected as a trustee, Democracy For America will be awarded the funds pledged to this issue along with a letter requesting these funds be used to advocate against bank bailouts.

Democracy for America is a member-driven, people-powered political action committee. Our mission is building and empowering a broad coalition of grassroots organizers to elect the New American Majority - people of color and white progressives - to fight for inclusive populism at all levels of office in all 50 states. In 2010, DFA launched a national campaign encouraging individual and institutional consumers to move their money from banks who received taxpayer funded bailouts to smaller local banks and credit unions.
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Trustee Election - Opening Date
June 5, 2023
Trustee Election - Closing Date
June 12, 2023