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13 Jan, 5 tweets, 4 min read
Under @BankersPrez Rob Nichols, American Bankers Assn gave $1.3 million to the 147 Republicans who voted to overturn a fair election after a violent assault on the U.S. Capitol

@ABABankers is their BIGGEST corporate PAC donor

#CorporateComplicity 1/4

infogram.com/1pegze7xnpvxge…
ABA also financed ads in support @RepTedBudd, another objector to a fair election

@BankersPrez Nichols was enthusiastic about him back in September: 2/4

aba.com/about-us/press…
Jan. 6 was, as @BankersPrez Nichols put it “a dark day.” Yeah.

Rioters were assaulting police officers, hunting elected officials, and flying the flag of hate and treason 3/4

businessinsider.com/photo-trump-su…
When @LaurenSHirsch @nytimes asked about pausing contributions, you referred meekly to “the troubling events of the past week.”

Is that all you can do for American democracy, @BankersPrez?

Or are you still hoping for favors from the 147 members who tried to subvert it? 4/END
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More from @RealBankReform

AFR Profile picture
17 Sep 20
OVERSIGHT HEARING ON STATE MUNICIPAL LENDING: Why is the Fed offering so little support for state and municipal governments? Let's find out in this THREAD:
@federalreserve's Kent Hiteshew continuing to evade arguments in favor of greater support for state and municipal lending ... The Fed has used 0.3% of its $500 billion facility while pumping money into corporate markets
@BharatRamamurti points out, the Fed is giving “no strings attached support to some of America’s biggest corporations” while the municipal and state governments face tough conditions, ones that hurt first responders crucial to #COVID19 response
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10 Sep 20
The @federalreserve has done a damn good job of bailing out the investor class on #WallStreet during the #COVID19 pandemic: big banks, big investors, and big corporations are all doing great. And the evidence is in the data THREAD 1/8
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For some perspective, imagine that you took out a loan for $100,000 and the creditor handed you $107,000 and said, “Hey, keep it, I have plenty.” That’s how well corporate America and its bankers are doing thanks to the Fed. 3/8
Read 8 tweets
AFR Profile picture
16 Jun 20
Today @federalreserve Chair Powell will be appearing before the Senate Banking Committee at 10am ET. We will be clipping videos in this thread.

You can watch live here: banking.senate.gov/hearings/06/08…
@SenSherrodBrown: "Across the country, Americans are outraged over the killings of #BreonnaTaylor @GeorgeFlyod #AhmaudArbery #RayshardBrooks & so many other Black Americans. They are demanding justice & an end to the systemic racism that pervades every aspect of society"
We're not just looking at a "theoretical, academic model of a perfect market," as @SenSherrodBrown would suggest.

Systemic racism in our financial system must be taken account for AND addressed in order to have a economic recovery for ALL Americans for #COVID19.
Read 25 tweets
AFR Profile picture
11 Jun 20
Private equity firms make tremendous profits investing in business practices and industries that reinforce systemic racism. Thread:
medium.com/@RealBankRefor…
Private equity investors invest in for-profit private prisons and detention centers, prison phone calls, and electronic monitoring of ex-offenders re-entering the community. pestakeholder.org/issue/civil-ri…
Private equity firms also profit from the xenophobic immigration policies of the Trump Admin, including the policy of violently separating migrant children from their parents. @MRVAssociates bit.ly/2Uza0n6
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AFR Profile picture
2 Apr 20
We need BETTER OVERSIGHT of a #bailout for the #COVID19 crisis. It's worth $5 trillion - a quarter of GDP. We need to use Phase 4 legislation to improve oversight. Let's not play small ball. (Hat tip: @kyledcheney+@mzanona) THREAD 1/12
.@RepKatiePorter, mindful that the public remembers the #bailout of #WallStreet all too well, hits the right notes: “In the wake of the financial crisis 10 years ago, there are going to be a lot of suspicions. Can we trust the Fed and the Treasury?” 2/12 politico.com/news/2020/04/0…
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AFR Profile picture
24 Mar 20
Great stuff from @DamonSilvers of @AFLCIO - "Then as now, big banks and big companies wanted money without conditions. Everything seemed so much easier that way. Government officials wanted flexibility, and no unpleasantness." 1/5 prospect.org/economy/repeat…
But the result was that Wall Street and company executives got what they wanted, and the public, and anyone else who was supposed to be helped, like homeowners in 2008, and workers today, ended up with crumbs, or worse. 2/5
The American economy needs huge help now—trillions of dollars to support employment and keep broad swaths of otherwise healthy American business from collapsing. That requires real accountability, real oversight. 3/5
Read 5 tweets

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