Last week, we learned that the swift action by the President and Congress to pass an economic recovery package earlier this year helped stave off a global economic recession, put our economy back on the path of growth, and helped save hundreds of thousands of jobs.

SEIU was a major proponent of the economic recovery package and we believe we need to continue to make progress on a number of other economic initiatives to build long-term sustainable economic growth--these include passing meaningful financial reform, investing in green jobs, using public pension funds to build a 21st century infrastructure, and creating a new retirement system to protect our future.

Passing Meaningful Financial Reform
Anna Burger writes on New Deal 2.0 about the need to fundamentally change the way we value wealth and work in our country and act now on meaningful reforms to protect our families from future economic crises.

To build long-term economic progress we must:

• Create a strong Consumer Financial Protection Agency to serve as a watchdog against predatory and reckless banking products;
• Crackdown on out of control executive pay that rewards short term risks over long term results;
• End too big to fail once and for all by separating commercial banking from investment banking and raising capital requirements back to levels that promote safe and sound banks;
• Empower shareholders to act on executive pay and break the excessive power of executive-controlled boards;
• Force banks to expand lending to small businesses and state and local governments to create jobs and save critical services;
• Demand banks stop foreclosures and help families keep their homes;
• Reregulate the shadow financial markets--including derivatives, hedge funds and private equity; and
• Investigate, and if necessary prosecute, the big banks and Wall Street for crashing our economy.

In case you missed it--more than 5,000 Americans from 20 states--converged on the American Bankers Association convention in Chicago to demand banks stop fighting reforms that would help protect our families from future crises. It was the beginning of a national movement to hold banks and Wall Street accountable for their reckless behavior.

Investing in Green Jobs
During the first meeting of the President's Economic Recovery Board, Anna Burger shared her perspective on how business, labor and government can work together towards creating a low-carbon, green economy and a movement into sustainable good, green jobs--citing the work SEIU and other Change to Win unions are already doing on the community and national level to lead the way on green initiatives.