Bernie Sanders appeared on Dylan Ratigan’s show yesterday talking about Elizabeth Warren’s appointment. Towards the end of his interview, he said a few words about his opposition to extending the Bush Tax cuts to the wealthiest Americans. His proposal was to end the tax breaks the high income people, take the $700 Billion freed up, spend $350 Billion on sorely needed infrastructure projects, creating millions of jobs over a 10 year period and taking the other $350 million in savings and applying it to deficit reduction. So, Bernie’s heart is in the right place but he really doesn’t get the economics of it.

Two critical Wall Street reforms, once declared dead by U.S. megabanks, are suddenly close to Congressional approval. As the House and Senate iron out the differences between their financial overhauls, it now appears that lawmakers are finally willing to ban banks from gambling with taxpayer money by implementing a strong Volcker Rule, and to end taxpayer subsidies for risky derivatives operations.

Senate Environment Committee Letter to A.G. Holder Requesting BP Investigation

An analysis of the legislative language changes made to modify the original Bernie Sanders Audit the Fed amendment (SA 3738), after those modifications were unexpectedly introduced on the Senate floor 5/6/2010.

progressive sell-outs

We all know that there has been a fight brewing in the Senate over Audit the Fed. A small band of Senators has been fighting to expand the power to audit the fed. However, Bernie Sanders, who with Demint spearheaded this policy, has betrayed transparency.

Senator, a lot of your constituents want real not fake reform. Please actively support strong measures like the Safe Banking Act, a truly independent Consumer Finance Protection Agency, reinstating the Glass-Steagall Act, prohibiting derivatives trading by commercial banks, and auditing the Fed.

The Senate is about to debate financial reform legislation. While the bill itself is far from what’s needed to shut down Wall Street’s casinos, we have a big opportunity to bring real accountability to the big banks.

From the tone and content of the press release out of his office this afternoon, it sounds likely that Sanders is preparing supporters for a retreat from his promise to introduce a public option amendment to the Senate reconciliation bill

The Senate voted against a Bernie Sanders sponsored bill to provide $250 payouts to the elderly, the disabled and veterans.