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Join Occupy the SEC in Opposing Deregulatory Riders to the Omnibus Government Spending Bill

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As your constituent, I am requesting that you OPPOSE current efforts to roll back protections for ordinary investors, consumers and debtors. Specifically, I am calling for you to oppose riders to the proposed Omnibus spending bill.

The Holidays are a time for giving. Unfortunately, for some members of Congress, December seems to be time for bestowing lavish presents on Wall Street bigwigs and debt collectors. Just like in prior years, these legislators are attempting to attach dangerous riders to the must-pass budget bill, in an effort to force Congress to adopt dangerous corporate giveaways that would have had little or no chance of passing under the normal legislative process. The most troubling of these corporate giveaways would hurt ordinary investors, indebted college students and consumers.

One proposed rider would gut and delay the Department of Labor's fiduciary rule for investment advisors working on 401(k) accounts. If passed, the bill would threaten retirement security for millions of ordinary Americans. The passage of this rider would allow investment advisors to continue with business as usual despite dangerous conflicts of interest, and would rob savers of their hard-earned money.

Other proposals would reorganize the CFPB in a way that would undermine its effectiveness and prevent it from resolving lending discrimination by car dealers. The CFPB has been one of the most effective government agencies in fighting against the exploitative practices that currently plague consumer finance.

Certain other riders would hamper the ability of the FSOC and the Federal Reserve to regulate the kind of Too Big to Fail institutions that nearly brought down the whole economy during the 2008 recession.

I ask you to seriously oppose these riders to the Omnibus bill. December is a time for a number of holidays traditions. The hijacking of the year-end budget process simply to enrich corporate America should not be one of those traditions.
Public Comments
May 8th, 2016
Someone from Sammamish, WA signed.
May 7th, 2016
Someone from Wiscasset, ME signed.
May 6th, 2016
Someone from Cashiers, NC signed.
May 5th, 2016
Someone from Murphysboro, IL signed.
Feb 15th, 2016
Someone from Lafayette, CO writes:
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I'm opposed to any omnibus bills and riders. Let them take on to digest one bill at a time. Let them sink in one item at a time and abort all financial incentives.
Dec 19th, 2015
Someone from Brooklyn, NY writes:
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At a time of increasing vulnerability in the global economy - and for ordinary American workers and savers - demolishing the limited and inadequate protections for banking and retail investors we have is inexcusable. The American government should also acknowledge its extraordinary obligation to the people of Puerto Rico and the role it has played as a not-so-benign colonial overlord in weakening the territory and limiting its economic growth.
Dec 19th, 2015
Someone from Brooklyn, NY writes:
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At a time if increasing vulnerability in the global economy - and for ordinary American workers and savers - demolishing the limited and inadequate protections we have is inexcusable. The American government should also acknowledge its extraordinary obligation to the people of Puerto Rico and the role it has played as a not-so-benign colonial overlord in weakening the territory and it's economic growth.
Dec 16th, 2015
Someone from Frankfort, IL signed.
Dec 16th, 2015
Someone from Decatur, GA signed.
Dec 16th, 2015
Someone from Los Angeles, CA signed.
Dec 16th, 2015
Someone from Arlington, VA signed.
Dec 15th, 2015
Someone from Sand Creek, WI signed.
Dec 15th, 2015
Someone from Orlando, FL signed.
Dec 14th, 2015
Someone from Boca Raton, FL signed.
Dec 14th, 2015
Someone from Manchester, CT signed.
Dec 14th, 2015
Someone from Reno, NV signed.
Dec 14th, 2015
Someone from Muncie, IN signed.
Dec 14th, 2015
Someone from Chicago, IL signed.
Dec 14th, 2015
Someone from Chicago, IL signed.
Dec 14th, 2015
Someone from Madison, WI signed.
Dec 14th, 2015
Someone from Madison, WI signed.
Dec 14th, 2015
Someone from Bowling Green, OH signed.
Dec 14th, 2015
Someone from Chicago, IL signed.
Dec 14th, 2015
Someone from New York, NY signed.
Dec 14th, 2015
Someone from Alexandria, VA signed.
Dec 14th, 2015
Someone from High Rolls Mountain Park, NM writes:
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Really . . . ! It's time for a serious re-evaluation of Capitalism, and our constitutional form of government.
Dec 14th, 2015
Someone from Chicago, IL signed.
Dec 14th, 2015
Someone from Davis, CA writes:
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This is important please work to help average investors
Dec 14th, 2015
Someone from Cambridge, MA signed.
Dec 14th, 2015
Someone from Oakland, CA writes:
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Courage - we are counting on you
Dec 14th, 2015
Someone from Las Cruces, NM signed.
Dec 14th, 2015
Someone from San Jacinto, CA signed.
Dec 14th, 2015
Someone from Reno, NV writes:
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The multiplier effect of fractional reserve banking creates money. A fractional reserve system allows banks to keep a fraction of its deposits on hand for depositors use. That fraction tends to be set at less than 10%. The rest of deposits are loaned out as the economy requires. Banks make their money on the interest they charge on those loans. But each loan represents two simultaneous uses of that money. In other words, the velocity of money is increased. Theoretically, $100,000 in deposits with an 8% reserve requirement can create $1.25 million in additional deposits (or ((1/.08)*100,000))). That?s a theoretical number because the later loans will be so small that they?ll likely not be made. Nevertheless, that?s money that isn?t printed by the Treasury but that banks are allowed to create. The integrity of those loans must be very high to generate trust among depositors that they?ll be able to withdraw their money when they want to. Federally guaranteed deposit insurance backs up loan integrity and ultimately it is taxpayers who guarantee the whole system. So banking is not really a private business. It is in no way a restriction on the free market that there are regulations governing how banks use Other People?s Money. And Congress has the ultimate responsibility to ensure that the banking system is sound. I question whether small business is being squeezed by banking regulation when banks prefer to put deposits into derivatives rather than lend at home to businesses. Do you know that back during the S&L crisis, Congress allowed thrifts to use deposits to take ownership interests in various real estate projects? The thrift owned real estate and if it hit a home run reaped the profit. If it went bust, the FDIC and ultimately the taxpayer were on the hook. Congress really shirked its responsibility back than. They did again in repealing Glass-Steagel and allowing derivatives to go unregulated during the first decade of this century. The ignorance of the American public about how banking works allowed Congress to deregulate the financial system. Again, I say that you have an affirmative responsibility to regulate the banks. Banking is not strictly free enterprise. It is not overburdened with regulation.
Dec 14th, 2015
Someone from Hermitage, TN signed.
Dec 14th, 2015
Someone from Mesa, AZ signed.
Dec 14th, 2015
Someone from Miami Beach, FL signed.
Dec 14th, 2015
Someone from Galesburg, IL signed.
Dec 14th, 2015
Someone from New York, NY signed.
Dec 14th, 2015
Someone from Philadelphia, PA writes:
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With greed acceptable and profit all that matters we need regulation now more than ever.
Dec 14th, 2015
Someone from San Francisco, CA writes:
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We are watching!
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