To: The United States Senate
Support the Brown-Vitter Terminating Bailouts for Taxpayer Fairness (TBTF) Act
"We believe that the big banks have far too much power in the nation’s capital, and they have too many government officials willing to do their bidding. We need to break up the biggest banks and break their stranglehold on our nation's economy and democracy. We call on the Senate to pass the Terminating Bailouts for Taxpayer Fairness (TBTF) Act in order to help our economy continue to recover."
Why is this important?
“The inside-the-beltway world of Washington, DC rarely deals with truly foundational economic issues. When they do, it is only because they are being forced to by crisis or a political movement forcing something onto center stage. Over the past few decades, we have watched the steady destruction of the American middle class by the massive expansion of the low wage worker economy – it’s time that we banded together to fight back.
The first step in that fight legislatively is the introduction of Sherrod Brown and David Vitter’s bill taking on the Too Big To Fail banks. Brown and Vitter’s Terminating Bailouts for Taxpayer Fairness (TBTF) Act puts serious pressure on “Too Big to Fail” banks in a variety of ways, and those banks are doing some serious squealing as a result. The bill would force the TBTF banks to stop playing some of their most egregious accounting games and make the TBTFers keep almost twice the percentage of capital reserves.”