[h=6]- JULY 25, 2016 -[/h][h=1]SANDERS VS. KAINE ON WALL STREET[/h]
The Intercept Headline: "Tim Kaine, Possible Hillary Clinton Pick For Vice President, Goes To Bat For Banks" (David Dayen, "Tim Kaine, Possible Hillary Clinton Pick For Vice President, Goes To Bat For Banks," The Intercept , 7/20/16)
The Huffington Post 's Zach Carter: Kaine Has Publicly Sided With "Bank Deregulation Advocates At The Height Of Clinton's Veepstakes." "Kaine, by contrast, is setting himself up as a figure willing to do battle with the progressive wing of the party. He has championed the Trans-Pacific Partnership trade deal that both Sanders and Warren oppose, and he is now publicly siding with bank deregulation advocates at the height of Clinton's veepstakes." (Zach Carter, "Tim Kaine Calls To Deregulate Banks As He Campaigns To Be Clinton's VP," The Huffington Post, 7/20/16)
On July 18, 2016, Kaine Signed Onto Two Letters Urging Looser Regulations For Community Banks, Credit Unions, And Regional Banks. "Virginia Sen. Tim Kaine, considered a leading contender for the Democratic vice presidential nomination, has spent this week signaling to the financial industry that he'll go to bat for them.On Monday, Kaine signed onto two letters, one to federal banking regulators and the other to the Consumer Financial Protection Bureau, urging them to loosen regulations on certain financial players. The timing of the letters, sent while Kaine is being vetted for the top of the ticket, could show potential financial industry donors that he is willing to serve as an ally on their regulatory issues. In the letters, Kaine is offering to support community banks, credit unions, and even large regional banks."(David Dayen, "Tim Kaine, Possible Hillary Clinton Pick For Vice President, Goes To Bat For Banks," The Intercept , 7/20/16)
The Washington Post Headline: "Liberals Criticize Kaine For Supporting Regulations Pushed By Banks" (Anne Gearan, "Liberals Criticize Kaine For Supporting Regulations Pushed By Banks," The Washington Post , 7/21/16)
The Hill Headline: "Liberal Group: Kaine Could Be 'Disastrous' VP Pick" (Naomi Jagoda, "Liberal Group: Kaine Could Be 'Disastrous' VP Pick," The Hill, 7/21/16)
Democracy For America Executive Director Charles Chamberlain Said In A Statement: "Let's Be Really Clear: It Should Be Disqualifying For Any Potential Democratic Vice Presidential Candidate To Be Part Of A Lobbyist-Driven Effort To Help Banks Dodge Consumer Protection Standards And Regulations Designed To Prevent Banks From Destroying Our Economy." "Yesterday, Zach Carter at the Huffington Post broke the news that, while campaigning for the 2016 VP slot, Senator Tim Kaine had recently signed on to a letter calling on Fed. Chairwoman Yellen and others calling for bank deregulation.Here's a response from Democracy for America's Charles Chamberlain on the Sen. Kaine bank deregulation letter and what it means for his standing as a potential VP candidate: 'Let's be really clear: It should be disqualifying for any potential Democratic vice presidential candidate to be part of a lobbyist-driven effort to help banks dodge consumer protection standards and regulations designed to prevent banks from destroying our economy.Our presidential ticket cannot beat the billionaire bigot by simply being not-Donald Trump. To win in November, our ticket needs to have an unquestionably strong record in the fight against income inequality, one of the defining issues of the 2016 election. With his vote for fast track authority for the job-killing Trans-Pacific Partnership and this newly uncovered push for bank deregulation, making Senator Tim Kaine our vice presidential candidate could be potentially disastrous for our efforts to defeat Donald Trump this fall.' -- Charles Chamberlain, Executive Director, Democracy for America" (Democracy For America, "Democracy For America Says Kaine Bank Letter 'Should Be Disqualifying' For VP Candidate," Press Release, 7/21/16)
Progressive Change Campaign Committee (PCCC) Co-Founder Stephanie Taylor Said In A Statement Responding To Questions About Kaine's Letter That It Is Important Clinton Pick Someone "Committed To Strong Wall Street Reform." "Progressive Change Campaign Committee co-founder Stephanie Taylor noted that Kaine has also supported the Trans-Pacific Partnership deal, a grave sin among progressives. 'Hillary Clinton's vice presidential pick will be seen by many as a proxy for how she will govern - boldly or cautiously? The wrong pick could deflate energy among potential donors and volunteers, hurting Democratic efforts to win the White House,' Taylor said in a statement responding to questions about Kaine's decision to write the letter. 'After promising to oppose the TPP, it's important for Clinton to pick someone who shares that position - especially after her delegates rejected that position in the party platform. It's also important she pick someone committed to strong Wall Street reform. Otherwise, there will be a giant opening for Trump and other Republicans to outflank Democrats on economic populism issues and win important swing votes.'" (Daniel Strauss and Zachary Warmbrodt, "Liberals Lash Out At Tim Kaine Over Banking Letter," Politico, 7/21/16)
Maine State Rep. Dianne Russell Issued A Press Release Referring To "Tim 'Big Banks' Kaine" And Criticizing His "Signal To Wall Street" In Signing The Letters. "Maine state Rep. Dianne Russell, a proponent of overhauling Democrats' superdelegate system, pointed to the letters signed by Kaine in a new statement about changing the super delegate system. Russell's statement referred to Kaine as 'Tim 'Big Banks' Kaine.' 'Kaine, in what many consider a signal to Wall Street, signed two letters this week to banking regulators and the Consumer Financial Protection Bureau urging them to loosen regulations of the financial industry. That sentiment flies in the face of the majority of democratic voters who supported both Clinton and Senator Bernie Sanders,' the press release from Russell said." (Daniel Strauss and Zachary Warmbrodt, "Liberals Lash Out At Tim Kaine Over Banking Letter," Politico, 7/21/16)
Kaine Has Supported Looser Bank Regulations
In 2016 Kaine Signed Onto Two Letters Urging Looser Regulations For Community Banks, Credit Unions, And Regional Banks
The Huffington Post Headline: "Tim Kaine Calls To Deregulate Banks As He Campaigns To Be Clinton's VP" (Zach Carter, "Tim Kaine Calls To Deregulate Banks As He Campaigns To Be Clinton's VP," The Huffington Post, 7/20/16)The Intercept Headline: "Tim Kaine, Possible Hillary Clinton Pick For Vice President, Goes To Bat For Banks" (David Dayen, "Tim Kaine, Possible Hillary Clinton Pick For Vice President, Goes To Bat For Banks," The Intercept , 7/20/16)
The Huffington Post 's Zach Carter: Kaine Has Publicly Sided With "Bank Deregulation Advocates At The Height Of Clinton's Veepstakes." "Kaine, by contrast, is setting himself up as a figure willing to do battle with the progressive wing of the party. He has championed the Trans-Pacific Partnership trade deal that both Sanders and Warren oppose, and he is now publicly siding with bank deregulation advocates at the height of Clinton's veepstakes." (Zach Carter, "Tim Kaine Calls To Deregulate Banks As He Campaigns To Be Clinton's VP," The Huffington Post, 7/20/16)
On July 18, 2016, Kaine Signed Onto Two Letters Urging Looser Regulations For Community Banks, Credit Unions, And Regional Banks. "Virginia Sen. Tim Kaine, considered a leading contender for the Democratic vice presidential nomination, has spent this week signaling to the financial industry that he'll go to bat for them.On Monday, Kaine signed onto two letters, one to federal banking regulators and the other to the Consumer Financial Protection Bureau, urging them to loosen regulations on certain financial players. The timing of the letters, sent while Kaine is being vetted for the top of the ticket, could show potential financial industry donors that he is willing to serve as an ally on their regulatory issues. In the letters, Kaine is offering to support community banks, credit unions, and even large regional banks."(David Dayen, "Tim Kaine, Possible Hillary Clinton Pick For Vice President, Goes To Bat For Banks," The Intercept , 7/20/16)
Progressives Strongly Criticized Kaine Over His Position
Politico Headline: "Liberals Lash Out At Tim Kaine Over Banking Letter" (Daniel Strauss and Zachary Warmbrodt, "Liberals Lash Out At Tim Kaine Over Banking Letter," Politico, 7/21/16)The Washington Post Headline: "Liberals Criticize Kaine For Supporting Regulations Pushed By Banks" (Anne Gearan, "Liberals Criticize Kaine For Supporting Regulations Pushed By Banks," The Washington Post , 7/21/16)
The Hill Headline: "Liberal Group: Kaine Could Be 'Disastrous' VP Pick" (Naomi Jagoda, "Liberal Group: Kaine Could Be 'Disastrous' VP Pick," The Hill, 7/21/16)
Democracy For America Executive Director Charles Chamberlain Said In A Statement: "Let's Be Really Clear: It Should Be Disqualifying For Any Potential Democratic Vice Presidential Candidate To Be Part Of A Lobbyist-Driven Effort To Help Banks Dodge Consumer Protection Standards And Regulations Designed To Prevent Banks From Destroying Our Economy." "Yesterday, Zach Carter at the Huffington Post broke the news that, while campaigning for the 2016 VP slot, Senator Tim Kaine had recently signed on to a letter calling on Fed. Chairwoman Yellen and others calling for bank deregulation.Here's a response from Democracy for America's Charles Chamberlain on the Sen. Kaine bank deregulation letter and what it means for his standing as a potential VP candidate: 'Let's be really clear: It should be disqualifying for any potential Democratic vice presidential candidate to be part of a lobbyist-driven effort to help banks dodge consumer protection standards and regulations designed to prevent banks from destroying our economy.Our presidential ticket cannot beat the billionaire bigot by simply being not-Donald Trump. To win in November, our ticket needs to have an unquestionably strong record in the fight against income inequality, one of the defining issues of the 2016 election. With his vote for fast track authority for the job-killing Trans-Pacific Partnership and this newly uncovered push for bank deregulation, making Senator Tim Kaine our vice presidential candidate could be potentially disastrous for our efforts to defeat Donald Trump this fall.' -- Charles Chamberlain, Executive Director, Democracy for America" (Democracy For America, "Democracy For America Says Kaine Bank Letter 'Should Be Disqualifying' For VP Candidate," Press Release, 7/21/16)
Progressive Change Campaign Committee (PCCC) Co-Founder Stephanie Taylor Said In A Statement Responding To Questions About Kaine's Letter That It Is Important Clinton Pick Someone "Committed To Strong Wall Street Reform." "Progressive Change Campaign Committee co-founder Stephanie Taylor noted that Kaine has also supported the Trans-Pacific Partnership deal, a grave sin among progressives. 'Hillary Clinton's vice presidential pick will be seen by many as a proxy for how she will govern - boldly or cautiously? The wrong pick could deflate energy among potential donors and volunteers, hurting Democratic efforts to win the White House,' Taylor said in a statement responding to questions about Kaine's decision to write the letter. 'After promising to oppose the TPP, it's important for Clinton to pick someone who shares that position - especially after her delegates rejected that position in the party platform. It's also important she pick someone committed to strong Wall Street reform. Otherwise, there will be a giant opening for Trump and other Republicans to outflank Democrats on economic populism issues and win important swing votes.'" (Daniel Strauss and Zachary Warmbrodt, "Liberals Lash Out At Tim Kaine Over Banking Letter," Politico, 7/21/16)
Maine State Rep. Dianne Russell Issued A Press Release Referring To "Tim 'Big Banks' Kaine" And Criticizing His "Signal To Wall Street" In Signing The Letters. "Maine state Rep. Dianne Russell, a proponent of overhauling Democrats' superdelegate system, pointed to the letters signed by Kaine in a new statement about changing the super delegate system. Russell's statement referred to Kaine as 'Tim 'Big Banks' Kaine.' 'Kaine, in what many consider a signal to Wall Street, signed two letters this week to banking regulators and the Consumer Financial Protection Bureau urging them to loosen regulations of the financial industry. That sentiment flies in the face of the majority of democratic voters who supported both Clinton and Senator Bernie Sanders,' the press release from Russell said." (Daniel Strauss and Zachary Warmbrodt, "Liberals Lash Out At Tim Kaine Over Banking Letter," Politico, 7/21/16)
Sanders Wants To Strengthen Wall Street Regulations And Break Up The Big Banks
Sanders "Has Been Clear About His Support For Breaking Up Big Banks" And Increasing Wall Street Regulation. "'No single financial institution should have holdings so extensive that its failure would send the world economy into crisis,' Sanders wrote in a May 2015 op-ed. 'If an institution is too big to fail, it is too big to exist.' In July, he called for reinstating the Glass-Steagall Act, a set of rules originally enacted in the aftermath of the Great Depression that prevented commercial banks from teaming up with ones that handle investments and securities. So Sanders has been clear about his support for breaking up big banks." (Will Cabaniss, PunditFact, 9/2/15)
