This past week, while much of D.C. has been focused on the healthcare mark-up (us included), we've also been tracking a few other stories that we wanted to bring to your attention. First--the encouraging news that Massachusetts will return to full representation and the Democrats in Congress to a cloture-proof majority. Also, don't miss two stories on SEIU's calls for financial reform and a questionable award choice from the U.S. Chamber of Commerce.
Keep reading for all of this week's stories...
60 Senators. SEIU and our allies welcome the newly appointed Senator Paul Kirk to represent Massachusetts in the interim before the January special election. In a statement released today, Andy Stern applauded the choice of Senator Kirk and the leadership of Governor Patrick: "The Governor and the Legislature showed real leadership to move swiftly and ensure that one of Senator Kennedy's last requests is fulfilled and the Bay State has a full say in helping move America forward. Paul Kirk will be a strong voice for the hard working families and communities of the Commonwealth. Massachusetts needed more than a placeholder in the U.S. Senate and the Governor has given his citizens a leader who will get to work fighting for the change working families need on healthcare reform, rebuilding our economy, and providing new financial protections for consumers." More here.
Banks Leave Taxpayers on the Hook for $17.8 Trillion. On Wednesday during a call with reporters, SEIU Secretary Treasurer Anna Burger and Assistant to the President Stephen Lerner released a new report that details the impact that the economic crisis has had on working families. According to the report, once all crisis-related programs are factored in, taxpayers could be on the hook for up to $17.8 trillion to rescue the big banks. You can view the report here. The rest of the rest of the blog post on the report here.
New Round of Protests Target Banks. SEIU and a growing chorus of voices once again spoke out against banks for trying to block financial reforms after receiving billions of taxpayer dollars. As Secretary Treasurer Anna Burger put it, "They're back to their old tricks and the same practices that caused this crisis in the first place...They're getting bailed out and normal people are losing."
Dozens of SEIU members and activists rallied outside a secret meeting of the Financial Services Roundtable, a group of 90 companies in the finance and insurance industry who received hundreds of billions in taxpayer bailouts and then used that money to lobby against needed corporate reforms. "We need to demand that banks use their resources and power to fix the economy and not make it worse," said Stephen Lerner, Special Assistant to SEIU President Andy Stern.
A series of protests around the county will lead up to the largest demonstration in Chicago between Oct. 25 and Oct. 27 at a meeting of the American Bankers Association. Read the full story from The Hill here. Click here to learn about upcoming actions to hold corporate barons and banks accountable.
The U.S. Chamber's Puzzling Definition of "Corporate Citizenship." Each fall, the U.S. Chamber of Commerce honors member organizations with its "Corporate Citizenship Award" as a way of recognizing contributions to communities. Unfortunately for the U.S. Chamber, the award is blind to a multitude of misdeeds committed by honorees. Indeed, for two years running, the U.S. Chamber has selected companies rife with problems. This year, the US Chamber chose to give this award to Aramark, a firm notorious for refusing to recognize its employees' voices. Read more about Aramark's bad record on employee relations and more on their relationship with the US Chamber here.
