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Latest News
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Huffington Post: Meet The New Class Of Wall Street Democrats
“How exactly will Tester, Warner and Heitkamp explain to their constituents that they voted for a man to be Wall Street’s top cop whose only professional experience has been fighting to protect the interests of Wall Street’s most powerful institutions?” asks Karl Frisch, executive director of Allied Progress.
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The Hill: Dems Debate Working with GOP on Consumer Bureau Revamp
Progressive groups are pushing Democrats to defend the bureau, the brainchild of Sen. Elizabeth Warren (D-Mass.). The party’s liberal base, still fuming over the 2016 elections, does not want to see any compromise with Republicans over policies won by the left during the Obama era.
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Employment Law Daily: Acosta Facing Tough Questions at Nomination Hearing
Most commenters expect Acosta to be confirmed. However, that does not me the nominee will not face some tough questioning. On the day of the hearing, Allied Progress released a report supporting the nationwide progressive advocacy organization’s characterization of Acosta’s record as “one of scandal, mismanagement, and a callous disregard for the concerns of American workers.”
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The Nation: Trump’s SEC Nominee Has a Major Conflict-of-Interest Problem
An analysis of its recent clients published by Allied Progress estimates that Clayton would have to withdraw “from cases involving nearly one-third of the institutions on the Financial Stability Board’s list of ‘global systemically important banks.’”
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Politico: Sanders, Warren Gang Up Against Trump’s SEC Nominee
“Clayton’s nomination signals that President Donald Trump is putting Wall Street ahead of hard-working Americans in what amounts to a hostile takeover of our country’s future,” said the liberal coalition, which includes Our Revolution, Public Citizen, CREDO and Allied Progress.
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U.S. News & World Report: Alexander Acosta Still an Unknown Walking Into Labor Confirmation
“Anyone willing to look beyond Mr. Acosta’s Wikipedia page would see that he is a controversial figure whose mismanagement of the Department of Justice’s Civil Rights Division led to scandal and a years-long investigation,” Karl Frisch, executive director of progressive advocacy group Allied Progress, said in a statement last month. “Simply put: the last time Alexander Acosta managed a division of a federal agency, it ended in scandal and now President Trump wants him to manage an entire federal agency.”
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Huffington Post: Donald Trump Literally Nominated The Goldman Sachs Bailout Lawyer To Run The SEC
The vote will instead serve a more symbolic purpose. If moderate Democrats can’t vote against Goldman’s bailout attorney, what Wall Street-friendly vote would they oppose?
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The Mortgage Report: The Department of Justice Changed Its Tune, What Now?
On Friday, the U.S Department of Justice (DOJ) turned against the CFPB, as the DOJ formally announced their support of PHH Corp in the case against the CFPB.
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CNN: Trump Hires Yet Another Goldman Sachs Banker
Trump’s latest Goldman hire is Jim Donovan, a two-decade veteran of the Wall Street bank, who was nominated to the No. 2 position at the Treasury Department on Tuesday.
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Politico’s Morning Money: Donovan Gets Treasury Gig, Left Reacts
Allied Progress’s Karl Frisch: “President Trump should give candidate Trump a call if he’s going to keep bringing Goldman Sachs executives into his administration. By handing over our economy to Goldman Sachs, Trump continues to betray working class Americans who took him at his word when he promised to ‘drain the swamp.’”