MORNING MESSAGE
Bernie
Sanders wants to implement a new version of the law, which was repealed in 1999
after having been in effect for more than 75 years. Hillary Clinton, on the
other hand, is not calling for its reinstatement. Sen. Sanders is right. Here
are five reasons why it is important to reinstate the Glass-Steagall Act ...
Too-big-to-fail banks are bigger, riskier and more ungovernable than ever ...
The argument that the absence of Glass-Steagall didn’t cause the 2008 financial
crisis is wrong ...
Clinton Tries To Tamp Down Fundraiser Fallout
Clinton
campaign recasts 9/11 comment. WSJ: “Asked about her 9/11 remarks, Press
Secretary Brian Fallon said that she was offering one explanation for why she
worked on Wall Street’s behalf … ‘To suggest that she of all people would
politicize 9/11 is an outrageous notion.'”
Teachers’
union president defends Clinton on charter schools. NYT: “‘You can be
pro-charter and still be critical of things that charters ought not to be
doing,’ Ms. Weingarten said, pointing to instances of fraud and abuse in the
charter school system that have been written about in places like Chicago and in
Miami … Mrs. Clinton made waves when she sounded a critical note about charter
schools at a forum …”
Clinton
criticizes Sanders on taxes. Politico: “‘Bernie Sanders has called for a
roughly 9-percent tax hike on middle-class families just to cover his
health-care plan,’ said Clinton spokesman Brian Fallon, referring to legislation
Sanders introduced in 2013 … Sanders introduced a single-payer healthcare bill
in 2013 that included a 2.2 percent income tax across the board, as well as a
6.7 percent payroll tax for employers … Sanders camp has argued in response that
in the long run, the single-payer system will save the country trillions of
currently wasted dollars.”
Highway Fund Extended
House
passes two-week highway trust fund extension. The Hill: “The measure would
extend federal transportation spending … until Dec. 4. The Senate is expected to
quickly take the patch up at the end of this week … The temporary highway bill
does not include any new money because lawmakers included enough road funding in
the three-month transportation bill that was approved in July to last until the
end of the year…”
NYT
edit board rejects “inadequate transportation bills”: “…Anthony Foxx, the
transportation secretary, said that the government must spend $400 billion over
the next six years just to maintain the current transportation system; to
improve the system would take an additional $78 billion. Yet the House passed a
bill this month that budgets only $325 billion for six years…”
GOP Conflicted On Coal
Republicans
move away from pro-coal rhetoric. The Hill: “GOP candidates instead are
calling for an increase to oil and natural gas production while they promise to
roll back Obama’s regulations … Talking about coal isn’t the best way to appeal
to younger voters, say some experts. And while coal is a dominant issue in some
states, it’s not seen as a national issue.”
But
pro-coal Sen. Mitch McConnell moves to block EPA climate regs. The Hill:
“…resolutions could come up for a vote as soon as this week. President Obama is
certain to veto anything undoing the climate rules…”
TPP In Trouble?
Will
Republicans bail on TPP? The Hill: “Republicans are deeply disappointed with
the deal negotiated by Obama’s team, as are many business groups, which have yet
to embrace it … The reactions — from lukewarm support to outright hostility —
have led many to believe the deal doesn’t have the votes to pass Congress.
Breakfast Sides
Settlement
will require for-profit college to forgive student loans. NYT: “…Education
Management Corporation will forgive loans to about 80,000 former students
nationwide as part of an agreement with state attorneys general resulting from a
multiyear investigation of the company’s aggressive recruitment practices. The
$102.8 million loan forgiveness program was announced on Monday in Washington
along with a separate $95.5 million civil settlement with the Department of
Justice…”
New
report documents racial discrimination in Baltimore mortgage lending. NYT:
“The black population of Baltimore is double that of the white population. Yet
in 2013, banks made more than twice as many mortgage loans to whites in the city
as they did to blacks … the racial makeup of a neighborhood — and not income,
for instance — is the most significant predictor of whether a loan gets made in
Baltimore.”
Progressive
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