Wall Street Reform

This congressional race will open the progressive floodgates. John Iadarola and Alex Morse break it down on The Damage Report. Follow The Damage Report on Facebook: https://www.facebook.com/TheDamageReportTYT/ Help build the Home of the Progressives http://tyt.com/JOIN Subscribe to The Damage Report YouTube channel: https://www.youtube.com/thedamagereport?sub_confirmation=1 Follow The Damage Report on Twitter: https://twitter.com/TheDamageReport Read more here: https://alexmorseforcongress.com/ "Alex’s story in the 1st congressional district starts in a Holyoke housing project where his parents met and fell in love. Both his mother and father grew up in poverty. Alex’s parents started a family as teenagers and neither had a chance to attend college. They worked tirelessly with what they had, struggling from job to low-wage job on public assistance in public housing. Over time they were able to make their way into the working class. Now 33 years down the road, Alex’s father heads to the same meat packing company in Springfield every day of the week for work. And Alex still recalls the neighborhood family daycare his mom ran at his childhood home. Alex’s parents worked hard to provide opportunities for their children — Alex and his two older brothers — that they didn’t have. Alex’s gratitude for his parents, and for the city of Holyoke, led to his passion for public service. The gratitude he has to his parents, and to Holyoke, became a passion for public service. At 16, Alex came out to his parents, and their response of unconditional love and support gave him the courage to bring his whole self into this life, and into this work." #TheDamageReport #JohnIadarola #TheYoungTurksMay 14

Sen. Kelly Loeffler's is under federal investigation for insider trading. John Iadarola and Jayar Jackson break it down on The Damage Report. Follow The Damage Report on Facebook: https://www.facebook.com/TheDamageReportTYT/ Help build the Home of the Progressives http://tyt.com/JOIN Subscribe to The Damage Report YouTube channel: https://www.youtube.com/thedamagereport?sub_confirmation=1 Follow The Damage Report on Twitter: https://twitter.com/TheDamageReport Read more here: https://www.axios.com/kelly-loeffler-stock-trades-coronavirus-pandemic-b12e7ed7-ef14-4ede-9a33-758d4e9cdf51.html "Sen. Kelly Loeffler (R-Ga.) and her husband, Jeffrey Sprecher, purchased and sold about $1.4 million in stock during the market panic set off by the coronavirus pandemic, the Wall Street Journal reports. Why it matters: Though the couple still lost money, they were able to limit the financial blow from the stock market's worst month since October 2008. Details: Loeffler reported that she and her husband bought $590,000 worth of stock and sold about $845,000 from Feb. 18 through March 13, according to WSJ's review of the senator’s financial disclosure. - If they held the shares they sold until March 31, they would have been valued at $86,000 less than what they sold them for. - The stocks they bought declined after they purchased them and resulted in losses of $102,000 through March 31. Loeffler and her husband sold stocks in retail stores, such as Lululemon and T.J. Maxx, and invested a company that makes COVID-19 protective garments for medical workers, according to a review by the Atlanta Journal-Constitution. Of note: Sprecher is the CEO of Intercontinental Exchange, which owns the New York Stock Exchange." #TheDamageReport #JohnIadarola #TheYoungTurksApril 1

Watch Bernie Sanders lay into the GOP for their relentless effort to punish poor Americans. John Iadarola and Michael Shure break it down on The Damage Report. Follow The Damage Report on Facebook: https://www.facebook.com/TheDamageReportTYT/ Help build the Home of the Progressives http://tyt.com/JOIN Subscribe to The Damage Report YouTube channel: https://www.youtube.com/thedamagereport?sub_confirmation=1 Follow The Damage Report on Twitter: https://twitter.com/TheDamageReport Read more here: https://www.commondreams.org/news/2020/03/26/watch-fiery-floor-speech-sanders-rips-gop-relentless-efforts-punish-poor-people "In a fiery speech on the Senate floor Wednesday ahead of the chamber's passage of a massive coronavirus stimulus bill, Sen. Bernie Sanders ripped his Republican colleagues for doing everything in their power to ensure that poor and vulnerable people receive less financial assistance than they desperately need in this moment of nationwide crisis. "Now I find that some of my Republican colleagues are very distressed. They're very upset that somebody who's making 10, 12 bucks an hour might end up with a paycheck for four months, more than they received last week," Sanders said, referring to the group of Republican senators who threatened to delay passage of the stimulus bill over its temporary expansion of unemployment benefits, which they described as overly generous." #TheDamageReport #JohnIadarola #TheYoungTurksMarch 26

A recession could crash and burn the Trump economy. John Iadarola and John Haltiwanger break it down on The Damage Report. Follow The Damage Report on Facebook: https://www.facebook.com/TheDamageReportTYT/ Help build the Home of the Progressives http://tyt.com/JOIN Subscribe to The Damage Report YouTube channel: https://www.youtube.com/thedamagereport?sub_confirmation=1 Follow The Damage Report on Twitter: https://twitter.com/TheDamageReport Read more here: https://www.businessinsider.com/global-recession-could-boost-far-right-populism-in-us-worldwide-2019-8 "There are fears an economic recession is on the horizon, the consequences of which could reach far beyond people's bank accounts. After years of rising nationalism and right-wing authoritarian populism in countries across the world, a global recession could inflame tensions as desperate leaders look for scapegoats and opportunistic politicians seek to exploit divisions that tend to come in concert with tough times. "Generally, tough economic times tend to exacerbate a lot of the negative trends that we associate populism and democratic backsliding," Sheri Berman, a professor of political science at Barnard College with expertise in democracy, populism, and fascism, told INSIDER. "Tough economic times create all kinds of social and political tensions that can be exploited by populists and those who are trying to sow discord within democracy."" #TheDamageReport #JohnIadarola #TheYoungTurksAugust 21

Where did Trump's tax plan come from? John Iadarola and Center for Public Integrity's Allan Holmes break it down on The Damage Report. Follow The Damage Report on Facebook: https://www.facebook.com/TheDamageReportTYT/ Help build the Home of the Progressives http://tyt.com/JOIN Subscribe to The Damage Report YouTube channel: https://www.youtube.com/thedamagereport?sub_confirmation=1 Follow The Damage Report on Twitter: https://twitter.com/TheDamageReport Read more here: https://publicintegrity.org/business/taxes/trumps-tax-cuts/the-secret-saga-of-trumps-tax-cuts/ "On a balmy April day in 2017, a sandy-haired, square-jawed New York tax lawyer named Dana Trier was heading to Washington, D.C., for a graduate-level economics class at Johns Hopkins. Trier, a tax policy official in the Ronald Reagan and George H.W. Bush administrations, had made a name for himself as a tax expert at the Wall Street firm Davis Polk. By this time, he was 68, semi-retired, working a bit at the law firm, teaching law at the University of Miami, and taking graduate courses. Trier was affable, but also a straight shooter. As he settled into his seat on the Acela, Trier’s phone buzzed with an email alert. It was a message from another tax expert, Daniel Berman. Four months earlier, Trier had run into Berman, a longtime friend and a former Treasury tax lawyer, at an American Bar Association tax section meeting in Orlando. They had briefly discussed new tax legislation being considered by the just-seated Congress, and Trier half-joked that he might be interested in being part of that effort." #TheDamageReport #JohnIadarola #TheYoungTurksMay 14

AOC and Bernie Sanders are teaming up to tackle predatory lending. John Iadarola and Nayyera Haq break it down on The Damage Report. Follow The Damage Report on Facebook: https://www.facebook.com/TheDamageReportTYT/ Help build the Home of the Progressives http://tyt.com/JOIN Subscribe to The Damage Report YouTube channel: https://www.youtube.com/thedamagereport?sub_confirmation=1 Follow The Damage Report on Twitter: https://twitter.com/TheDamageReport Read more here: https://theintercept.com/2019/05/09/alexandria-ocasio-cortez-bernie-sanders-bank-legislation/ "ALEXANDRIA OCASIO-CORTEZ will announce her first major bill today, in partnership with Vermont Sen. and presidential candidate Bernie Sanders. It’s something Sanders has proposed for many years: a 15 percent interest rate cap on all consumer loans, which would reduce what many Americans pay on their credit cards and effectively eliminate the payday loan industry. The bill is called the Loan Shark Prevention Act, and it’s only two pages long. It includes language that would prevent lenders from adding fees to “evade” the interest rate cap and sets penalties for violators, including a forfeiture of all interest on the illegal loans. According to Ocasio-Cortez’s office, the freshman representative plans to suggest postal banking as a public option for consumer lending, though that is not in the legislation. A postal lending option would in theory minimize the impact on access to credit from the rate cap. Sanders endorsed postal banking during his 2016 presidential campaign." #TheDamageReport #JohnIadarola #TYTNetworkMay 10

In a 2004 interview, Elizabeth Warren predicted the 2008 financial crisis four years before it would happen. John Iadarola and Michael Shure break it down on The Damage Report. Follow The Damage Report on Facebook: https://www.facebook.com/TheDamageReportTYT/ Help build the Home of the Progressives http://tyt.com/JOIN Subscribe to The Damage Report YouTube channel: https://www.youtube.com/thedamagereport?sub_confirmation=1 Follow The Damage Report on Twitter: https://twitter.com/TheDamageReport Read more here: https://theweek.com/speedreads/839949/watch-elizabeth-warren-stunningly-predict-2008-economic-crisis--4-years-before-happened "Sen. Elizabeth Warren (D-Mass.) either has a crystal ball or some serious experience in bankruptcy law. In 2004, the U.S. was blindly headed toward a devastating economic meltdown. Yet Warren knew it was coming, and gave a shockingly prescient breakdown of where America's economic policies were taking the country in a recently surfaced interview with PBS NOW's David Brancaccio. In a segment of the interview, Warren, then a Harvard Law School professor, notably called out then-Federal Reserve Chair Alan Greenspan for focusing on banks rather than everyday Americans and their debt. Warren characterized Greenspan as telling Americans to "borrow against your house ... just to put groceries on the table." But that means trusting that "nothing serious is going to go on in your family that's going to make it hard to make those payments," Warren continued — something that obviously isn't guaranteed." #TheDamageReport #JohnIadarola #TYTNetworkMay 8

Establishment Wall Street donors are terrified of Elizabeth Warren. May 1

Chase bank tweeted out one of the most tone-deaf memes ever. John Iadarola breaks it down on The Damage Report. Follow The Damage Report on Facebook: https://www.facebook.com/TheDamageReportTYT/ Help build the Home of the Progressives http://tyt.com/JOIN Subscribe to The Damage Report YouTube channel: https://www.youtube.com/thedamagereport?sub_confirmation=1 Follow The Damage Report on Twitter: https://twitter.com/TheDamageReport Read more here: https://www.cnn.com/2019/04/29/business/chase-bank-tweet-outrage-trnd/index.html "(CNN) JPMorgan Chase tried to give its customers a bit of "Monday motivation." It backfired in spectacular fashion. The largest bank in the United States deleted a tweet posted by its Chase Bank Twitter account Monday after several people — including Democratic Senator and presidential candidate Elizabeth Warren — criticized it as tone deaf. The tweet depicted a hypothetical conversation between a customer and their bank account. Chase Bank tagged it with the hashtag "#MondayMotivation." "You: why is my balance so low Bank account: make coffee at home Bank account: eat the food that's already in the fridge Bank account: you don't need a cab, it's only three blocks You: I guess we'll never know Bank account: seriously?" The tweet drew ire from several people on the social media service, including Warren — a politician who frequently criticizes the country's largest banks. In a response that mimicked the style of the original tweet, Warren called the bank out for receiving $25 billion in taxpayer money as part of a government bailout in 2008 in the wake of the financial crisis. The bank later repaid the Treasury." #TheDamageReport #JohnIadarola #TYTNetworkApril 30

Chase Bank tweeted a tone-deaf meme about their customers and Elizabeth Warren made them pay for it. April 30

The Inter-American Development Bank is quietly attempting to undermine the current government of Venezuela. John Iadarola and The Intercept's Rafael Moro Martins break it down on The Damage Report. Follow The Damage Report on Facebook: https://www.facebook.com/TheDamageReportTYT/ Help build the Home of the Progressives http://tyt.com/JOIN Subscribe to The Damage Report YouTube channel: https://www.youtube.com/thedamagereport?sub_confirmation=1 Follow The Damage Report on Twitter: https://twitter.com/TheDamageReport Read more here: https://theintercept.com/2019/04/18/venezuela-idb-maduro-guaido/ "THE INTER-AMERICAN Development Bank is quietly circulating an analysis that foresees an up to $48 billion infusion of capital into the Venezuelan economy should President Nicolás Maduro be removed from office. A pair of confidential documents, both called “Venezuela: Challenges and Opportunities,” outlines a four-year plan to open the country’s beleaguered economy to foreign corporations through privatization, structural reforms, and public-private partnerships. The documents — slide decks that were obtained by The Intercept — are circulating in an 11-slide summarized version and a 27-slide full version, both classified as “confidential.” The author is marked in the first slides of both presentations as the bank’s secretary, who is responsible for organizing discussions between the bank, governments, and private companies. The presentations, which are dated March 15, are addressed to executive directors of the Inter-American Development Bank and IDB Invest, the bank’s investment arm aimed at lending to private companies. Founded in 1959, the IDB offers financing and technical assistance for infrastructure, health, and education projects in Latin America and the Caribbean. The bank is owned by 48 countries: 26 borrowing member countries and 22 nonborrowing member countries. Currently, the five largest shareholders are the U.S., with 30 percent of voting shares; Argentina and Brazil, with 11.2 percent each; Mexico, with 7.2 percent; and Japan, which has 5 percent of voting shares." #TheDamageReport #JohnIadarola #TYTNetworkApril 19

Trump has no idea how grocery stores work. John Iadarola breaks it down on The Damage Report. Follow The Damage Report on Facebook: https://www.facebook.com/TheDamageReportTYT/ Help build the Home of the Progressives http://tyt.com/JOIN Subscribe to The Damage Report YouTube channel: https://www.youtube.com/thedamagereport?sub_confirmation=1 Follow The Damage Report on Twitter: https://twitter.com/TheDamageReport Read more here: https://www.mercurynews.com/2019/01/24/trump-banks-grocery-stores-will-work-along-with-furloughed-workers/ "President Donald Trump suggested Thursday that grocery stores and banks will give a break to the 800,000 federal workers who are without pay due to the partial government shutdown. Trump was responding to a question about comments Commerce Secretary Wilbur Ross made hours earlier. Ross had prompted a wave of criticism after he claimed not to understand why furloughed workers were visiting food banks and suggested they take out a loan to cover their lost wages. Trump said he hadn’t heard Ross’ statement but acknowledged that “perhaps he should have said it differently.” He claimed that grocery stores would “work along” with furloughed employees because “they know the people” and have been “dealing with them for years.” “Local people know who they are, when they go for groceries and everything else,” Trump said of furloughed workers. “And I think what Wilbur was probably trying to say is that they will work along.” #TheDamageReport #JohnIadarola #TYTNetworkJanuary 25

Will Bernie's plan become a reality? John Iadarola and Jules Suzdaltsev discuss Bernie Sanders' plan for "too big to fail" banks.October 4

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