CPD IN THE NEWS

Democratic presidential candidate Sen. Bernie Sanders, I-Vt., holds a town hall meeting at the Luis Muñoz Marin Foundation in Trujillo Alto, Puerto Rico, Monday, May 16, 2016. Sanders arrived in Puerto Rico on Monday to talk about the U.S. territory's worsening debt crisis ahead of the June 5 primary.

The race for the Democratic nomination is in its final throes, and Sen. Bernie Sanders (I-VT) and Hillary Clinton are fighting it out for every last remaining delegate. Puerto Rico’s June 5 primary — in which 67 delegates are up for grabs — will carry more political weight than usual, and the campaigns are lavishing attention on the island.

As he campaigned in the territory’s capital on Monday, Sanders laid out a bold proposal to help Puerto Rico dig itself out from $72 billion dollars in debt, but economists and former government officials tell ThinkProgress the plan is legally impossible.

Both Sanders and Clinton have urged Congress to pass a bill giving Puerto Rico the ability to declare bankruptcy and restructure its debt. But Sanders went further this week, demanding that the Federal Reserve act unilaterally to help the island if Congress continues to drag its feet on a bill to restructure the massive debt the Puerto Rican government says it cannot pay.

Ironically, the reforms Congress passed to rein in Wall Street following the 2008 financial crisis — reforms Sanders supported — are part of why the Federal Reserve can’t do what Sanders is now demanding.

“If the Federal Reserve could bail out Wall Street, it can help the 3.5 million American citizens in Puerto Rico improve its economy and lift its children out of poverty,” he said. “Under current law, the Federal Reserve has the authority.”

Some progressive groups, like the Center for Popular Democracy, are voicing support for Sanders’ plan. In an e-mail to ThinkProgress, the director of the CPD’s “Fed Up” campaign said that if the U.S. government could find a way to prop up Wall Street during the 2008 crash, it can do the same for Puerto Rico.

“When the financial crisis hit Wall Street, they used all of their most creative legal minds and institutional power to design solutions that would protect the big banks from collapse; if they wanted to, Fed officials could similarly find appropriate solutions here.”

But other economic experts and former Federal Reserve board members told ThinkProgress that Sanders is mistaken. Ironically, the reforms Congress passed to rein in Wall Street following the 2008 financial crisis — reforms Sanders supported — are part of why the Federal Reserve can’t do what Sanders is now demanding.

“The type of assistance Senator Sanders is asking the Fed to provide would not be legally possible,” said Donald Kohn, who served on the Federal Reserve’s Board of Governors from 2002 to 2010. “[It is] not what the Congress intended. Among other things, [the law] requires that any facility be broadly based and not intended for a particular troubled borrower.”

The reforms in the 2010 Dodd-Frank bill sharply curtailed the central bank’s ability to make emergency loans to struggling banks, partnerships, or corporations in order to keep them afloat. While questioning whether the Puerto Rican government counts as a bank, partnership, or corporation in the first place, Kohn also cited another section of the law saying the Federal Reserve must “prohibit borrowing from programs and facilities by borrowers that are insolvent,” as Puerto Rico will soon be, and that emergency lending powers are “not to aid a failing financial company.”

The Federal Reserve has given Congress the same message, and other fiscal policy experts agree. University of Pennsylvania professor Peter Conti-Brown, an expert on the Fed’s legal authority, told the Washington Examiner that Dodd-Frank “specifically forbids this kind of targeted bailout,” while Cato Institute director of financial regulation studies Mark Calabria added that “the intent and clear language forbids ‘one-off’ rescues to single entities.”

Warren Gunnels with the Sanders campaign argued in an e-mail to ThinkProgress that because only a fraction of Dodd-Frank’s reforms have been finalized and implemented, the Federal Reserve can still step in. “The Federal Reserve has the authority to facilitate an orderly restructuring of Puerto Rico’s debt through a reverse auction process that will lead to major haircuts for Wall Street vulture funds,” he said.

Still, most experts say it falls on Congress to act to rescue Puerto Rico. House Republicans introduced a bill this week that would allow Puerto Rico to restructure its debt, but would also implement an un-elected control board to oversee the island’s budget and cut the minimum wage from $7.25 to $4.25 an hour for workers under 25.

We don’t need more austerity for children in Puerto Rico who are going hungry.

Sanders blasted the proposal as undemocratic and a further burden on the poor. “We need austerity for billionaire Wall Street hedge fund managers who have exacerbated the financial crisis in Puerto Rico. We don’t need more austerity for children in Puerto Rico who are going hungry,” he said.

Regardless of the feasibility of Sanders’ Federal Reserve proposal, his pro-sovereignty and anti-austerity message resonated with Puerto Ricans on and off the island. Two prominent officials, including the mayor of the capital of San Juan, rescinded their endorsements for Hillary Clinton after Sanders’ visit, while other community leaders sang his praises.

“Bernie Sanders is the only candidate dedicated to the people of Puerto Rico,” said Jose Nicolas Medina, an attorney in San Juan. “Much of our problems are due the policies of Clinton. As first lady and as Senator, Hillary did nothing to help the situation of Puerto Rico. So we punish the Clintons with our votes.”

Others watching Sanders’ speeches told ThinkProgress they were inspired by his promise to allow Puerto Ricans to vote for either independence or statehood during his first year in the White House, and his characterization of the current U.S.-Puerto Rican relationship as “colonial-like treatment.”

“To have a candidate for president finally admit that Puerto Rico is a colony is historic,” said Phillip Arroyo, the former chair of the Young Democrats of America’s Hispanic Caucus and a Puerto Rican living in Florida. “He has planted a seed in the mind of the new generation. It will ultimately bear fruit regardless of whether he’s elected.”

BY ALICE OLLSTEIN

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Object Action: The "F" Word in a Post-Truth Eramarks the inauguration of Collect For Change-an initiative which collaborates with artists across disciplines, offering artwork with a portion of sales benefiting a charity personally selected by each artist. As a feminist response to the one-year anniversary of the current administration, the group exhibition highlights "objects" and works by female artists "objecting" to a dominant paradigm through innovative media in the feminist realm.

Featured artists Ana Teresa Fernández, Chitra Ganesh, Michelle Hartney, Angela Hennessy, Nadja Verena Marcin, Sanaz Mazinani, and Michele Pred will donate a portion of all artwork sales to Art & Abolition, The Center For Popular Democracy's Puerto Rico Rebuilding Fund, Girls Garage, Girls Inc., NARAL Pro-Choice California, Planned Parenthood, and 350.org.

Read the full article here.

Latinos Post – October 25, 2013 -

La población hispana e inmigrante que es empleada en el sector de la construcción del estado de Nueva York es el grupo étnico más vulnerable a los accidentes fatales en su lugar de trabajo, según reveló este jueves 24 de octubre un reporte realizado por el Centro por la Democracia Popular.

De acuerdo con El Diario NY, Los datos arrojados por el estudio, muestran que entre 2003 y 2011, del total de muertes por caídas y accidentes en las construcciones registrados en La Gran Manzana, el 60% de los casos los fallecidos resultaron ser hombres hispanos y/o inmigrantes.

Se trata de una cifra alarmante ya que 75 trabajadores de la construcción mueren por accidentes de manera anual en el estado de Nueva York, según dio a conocer la periodista Blanca Rosa Vílchez a la cadena de noticias de Univisión.

La fuente señala que en Nueva York el 41% de los trabajadores del sector construcción son hispanos. Sin embargo, el informe dado a conocer este jueves demostró que el 74% de las muertes por accidentes corresponden al mismo grupo étnico.

Un problema de seguridad

El pasado 24 de septiembre, trabajadores de la construcción en Brooklyn se manifestaron para exigir mejoras en las condiciones de seguridad en sus lugares de trabajo, luego de que reportaran una importante alza en los accidentes relacionadas con la escasa inversión en esta materia que las compañías constructores ofrecen, lo que ha causado graves accidentes que en muchos casos han cobrado la vida de trabajadores que reciben un salario mínimo.

En su momento Diario NY dio a conocer que los obreros se manifestaron en el 227 de la avenida Carlton, en Fort Greene, lugar en el que el 10 de septiembre un trabajador de 62 años perdió la vida al venirse abajo el techo de uno de los apartamentos en los que trabajaba.

De acuerdo con los manifestantes, las compañías contratistas de Nueva York compran materiales de mala calidad con tal de ahorrar dinero y no invierten en cursos de seguridad para sus trabajadores, lo que deja a los constructores en una situación peligrosa.

Miedo a denunciar por falta de documentación legal

La comunidad latina que trabaja en la construcción es doblemente vulnerable a esta situación, ya que muchos de los obreros son inmigrantes indocumentados, por lo que en caso de sufrir algún accidente prefieren no denunciar a la empresa constructora por miedo a ser deportados o despedidos.

Por si esto fuera poco, en caso de reportar violaciones a las normas de seguridad, las multas a las compañías constructoras son por montos muy bajos, lo que facilita que se siga omitiendo la inversión en seguridad en los lugares de trabajo.

Según destaca Univisión, las multas a las que se enfrentan las constructoras no superan los 2 mil dólares en caso de accidente, y los 12 mil en caso de muerte de un trabajador, una cifra que refleja la dimensión de los riesgos con los que los obreros de la construcción deben trabajar todos los días.

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Brooklyn City Councilman Brad Lander is advertising for a communications director who, in addition to fulfilling the standard checklist of duties, can also help the Democrat “resist the injustice, hatred, and corruption posed by the Trump regime.”

In an unusual listing that has been posted to several job boards, including Idealist, Lander is looking for a staffer to see beyond New York City, and to keep an eye on the actions of President-elect Donald Trump.

The ideal candidate  should be able to implement Lander's communications and media program while also defending against what the councilman calls the threat "to American democratic values and vulnerable constituencies." The goal, according to the ad, is to help "build a more just, inclusive, and sustainable NYC.”

A minimum of three to four years of communications experience — ideally in New York City — is required for the job, as is a sense of humor, according to the listing. The job includes a “competitive salary,” which was not specified but reported to be in the range of $61,000 to $67,000 a year, according to the New York Daily News.

Lander, an outspoken councilmember who was once arrested for blocking traffic to support striking car washers in Park Slope, is co-founder of the Council’s progressive caucus. He is also incoming board chairman of Local Progress, a nationwide network of self-described progressive local officials.

By Alexi Friedman

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