Appointment of Another Former Goldman Sachs Insider Shows Why Fed Presidential Appointment Process Needs Reform
Appointment of Another Former Goldman Sachs Insider Shows Why Fed Presidential Appointment Process Needs Reform
Jordan Haedtler, Campaign Manager for the Fed Up coalition, released the following statement following the Minneapolis...
Jordan Haedtler, Campaign Manager for the Fed Up coalition, released the following statement following the Minneapolis Federal Reserve Bank’s announcement that it would appoint Neel Kashkari as its president:
“For the past year, the Fed Up coalition has worked to develop relationships with the presidents of all 12 regional Federal Reserve Banks, and we look forward to developing a relationship with Neel Kashkari. When he ran for California Governor last year, Mr. Kashkari spent a week posing as a jobseeker in some of the hardest hit parts of the state. We hope Mr. Kashkari recognizes that job prospects remain far too weak for too many people, particularly Black and Latino people, and that his brief experiences searching for jobs in California are the real, lived experience for millions of people every day. Our partners in Minneapolis look forward to welcoming Mr. Kashkari to the Minneapolis region, and showing him the many communities in the region that are still struggling with economic recovery.
"Mr. Kashkari joins a Federal Reserve System that too often excludes the perspectives of working families and communities of color. We are very disappointed that his appointment marks the third presidential appointment this year of a regional Bank president with strong ties to Goldman Sachs. Come January, 1/3rd of the 12 regional Bank presidents will have served in senior roles at the investment bank that most epitomizes the problems that led to the financial crisis.
"Kashkari’s appointment illustrates the problem with the regional Bank president selection process. Federal Reserve Bank presidents are some of the most influential economic policymakers in the country, and they have an obligation to represent the public. Unfortunately, the public is completely shut out of the process for their selection, which is dominated by corporate and financial elites.
"We were very pleased when the Minneapolis Fed took a small and unprecedented step toward transparency by outlining the criteria for their next president. We wish the Minneapolis Fed had gone a step further, publishing the list of candidates being considered, and giving the public an opportunity for input. A history of working with labor and community groups, and an understanding of how working families and communities of color have been impacted by a sluggish economic recovery should qualify candidates for consideration. But the presidential appointments we have seen this year suggest that regional Banks are looking for a history of working at Goldman Sachs instead.”
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Economic Recovery? Not for Ferguson or Black America
MSNBC - March 13, 2015, by Jane Timm - “America is coming back,” President Obama declared late last month, touting...
MSNBC - March 13, 2015, by Jane Timm - “America is coming back,” President Obama declared late last month, touting strong job creation and rising wages. “We’ve risen from recession.” But for Ferguson, Missouri – and black America as a whole – the recovery still hasn’t come.
“Black unemployment rates are still at the height of the national unemployment rates during the Great Recession,” the Center for Popular Democracy’s Connie Razza told msnbc. “We’re still in a recession in black America.”
Indeed, while American unemployment is down to 5.5%, black unemployment is at 10.4%. While wages have risen over the last 15 years by 45 and 48 cents for Latino and white workers, respectively, they’ve fallen 44 cents for black workers, according to a study produced by Razza at the left-leaning organization. The net wealth of African-American families, too, is hurting. “As the wealth of the other groups is stabilizing in the wake of the recession, the wealth of the African-American community is declining,” Razza added.
Blacks have long faced unemployment rates that are double those of white workers – according to Pew, it’s been that way since 1954 – but sources say the recession has hurt black America, and the St. Louis region, particularly hard. “It’s not just a recession of jobs, it’s a recession of income; it’s a recession of wealth in the sense that a whole lot of homes in Ferguson are still under water. It’s a three-way disaster for people in that part of St. Louis county,” Dave Robertson, a political science professor at the University of Missouri at St. Louis, told msnbc. “In places like Ferguson, it’s not coming back quickly.
The most recent racial employment breakdown indicates that Missouri’s problems may be worse than the rest of the country’s, too. In Missouri, black unemployment was 15.7% in the fall of 2014 – triple the state’s 4.5% white unemployment at the time.
“It’s not just unemployment,” Robertson added. “It’s the poor wages, it’s the under-employment, it’s the part-time work.”
And economic inequality is fueling the protests and activist movement, sources said. “There’s a real sense of despair especially for those young folks. You just don’t have the economic opportunities for young people. Especially young people coming out of sub-standard school districts … not having the tools prepared for the economy,” Ferguson activist Umar Lee told msnbc. “And then there’s a shortage of jobs, leaving young people at a disadvantage, and so they just drop out.”
“That’s the driving force, we believe,” former state Sen. Maida Coleman told msnbc. She’s heading up Gov. Jay Nixon’s Office of Community Engagement, a state office formed in the wake of August’s protests to focus on low-income and minority communities. “What’s happening now is that we see a real need to address these high levels of unemployment, just as we are addressing education,” Coleman said. “The hopelessness needs to be addressed.”
But the problem extends beyond Ferguson; when there are jobs to be had, black Americans struggle to get hired.
A 2013 study found that black college grads had twice the unemployment rate of white college grads and that racial inequality actually grew during the recovery. A 2014 study by nonpartisan education and economic advocacy group the Young Invincibles found that black workers need college credit to compete with white high school drop-outs thanks to racial discrimination.
Getting an interview may be half the battle, too. A 2003 study found that very white-sounding names received 50% more callbacks for interviews than a very black-sounding name.
For these reasons, Razza and the Center for Popular Democracy are urging the Federal Reserve to keep interest rates low. The Fed had vowed to keep rates low until employment dipped below 6.5% and the recovery came in earnest, but Razza argued that the country needs to be closer to “full employment”—that is there are close to the same number of jobs as people who want to work—before the Fed can really stop intervening. “The fact that black Americas are still experiencing a recession is really … the canary in the coal mine of the recovery,” she said.
Source
Activists: US Justice Department Response to Baltimore Police Racism Falls Short
Activists: US Justice Department Response to Baltimore Police Racism Falls Short
The response by the US Department of Justice to exposing Baltimore Police Department (BPD) violations of citizens’...
The response by the US Department of Justice to exposing Baltimore Police Department (BPD) violations of citizens’ constitutional rights falls short of addressing the systemic problem of racism in US policing, activists said.
WASHINGTON (Sputnik) — "[The Department of Justice] is being forced to look like it is responsive, so to speak, but it also can’t deal with the systemic nature of things," Pan-African Community Action activist Netfa Freeman told Sputnik.
On Wednesday, the Justice Department released a report concluding that the BPD systematically engaged in conduct that violates the US Constitution, and disproportionately targets African-Americans. In response, the Justice Department entered into a consent agreement with the BPD to reform the latter.
"We know it is not just Baltimore and it’s not just ‘bad apples’," Freeman said. The report is still "treating things like they are isolated incidents, not like it is a systemic problem or an epidemic," he said of anti-black police misconduct.
In a forum hosted by the Institute for Policy Studies, policy advocate at the Center for Popular Democracy, Marbre Stahly-Butts, said that while it was "important" for the federal government to articulate the problem of police abuses, Justice Department's actions did not go far enough.
An anti-terrorism rehearsal is held targeting a possible bomb attack during the Olympic Games at the main bus station in Rio de Janeiro, Brazil on May 12, 2016
Stahly-Butts argued the Justice Department should leverage the findings of the report to cut off funding to local law enforcement caught violating federal law.
"If we find… that you are violating the basic human rights of people in this city, we, as the government, will not give you taxpayer money to do that," Stahly-Butts said.
The Justice Department report covered police misconduct that took place from January 2010 through May 2015. The investigation was launched in 2015 following the widely publicized death of Freddie Gray, a 25-year-old African-American who died from wounds he sustained while in BPD custody.
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Puerto Rico: "No te hemos olvidado"
La semana pasada marcó dos meses desde la devastación del huracán María en la bella isla de Puerto Rico. A pesar de...
La semana pasada marcó dos meses desde la devastación del huracán María en la bella isla de Puerto Rico. A pesar de todo este tiempo, más de la mitad de la isla -más de un millón de personas- aún están sin electricidad, las enfermedades propagándose y muchos aún no tienen los recursos necesarios para reconstruir sus hogares y sus vidas.
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Chicago Group Pushing For $15 Minimum Wage
Huffington Post - May 28, 2014, by Joseph Erbentraut - A coalition of Chicago aldermen on Wednesday introduced an...
Huffington Post - May 28, 2014, by Joseph Erbentraut - A coalition of Chicago aldermen on Wednesday introduced an ordinance that would increase the minimum wage for many workers in the third-largest U.S. city to $15 an hour.
The ordinance calls for corporations with more than $50 million in annual sales to increase worker pay to at least $15 an hour with a year of the law's effective date. Smaller businesses would be allowed more than five years to raise pay. Twenty-one of the council's 50 members have signed on as cosponsors, Crain's Chicago Business reports.
The current minimum wage in Chicago is $8.25 an hour, a dollar more than the federal minimum wage.
Several aldermen joined low-wage workers at a press conference at City Hall on Wednesday, before the meeting where the ordinance was filed. Home care worker Darlene Pruitt, a 55-year-old mother of three and grandmother of 22, said she earns $10.65 an hour after five annual raises of a dime an hour working for the Help at Home agency. It's not enough, the West Side resident told The Huffington Post.
Pruitt said she has sometimes turned to a food pantry to make sure her family has enough to eat. "It's hard out there," Pruitt said. "The cost to live in Chicago and meet your basic needs -- rent, utilities, food, medication, clothes -- is high."
Pruitt said she is not afraid of retribution from her employer from speaking out because she is optimistic her efforts will help other workers like her who are in a similar position. If she earned more money, much of it would go right back into her community, she said.
The Center for Popular Democracy, in partnership with Raise Chicago, an advocacy group pushing for the higher wage, released a study Wednesday claiming the higher wage would decrease worker turnover and stimulate the local economy.
The study said the higher minimum wage would be responsible for $616 million in new economic activity and would help create 5,350 new jobs in its first phase. The higher wage also would add $45 million in sales tax revenues, but would raise consumer prices about 2 percent, according to the study.
Voters overwhelmingly backed the $15 minimum wage in a non-binding ballot question on about 5 percent of the city's ballots in the March primary election.
Business groups, however, have yet to be swayed.
Doug Whitley of the Illinois Chamber of Commerce told DNAinfo Chicago the proposed ordinance is "a ridiculously excessive reach on the part of a local government to try to instruct private-sector employers how to manage their businesses." The chamber said in a previous statement with other business groups that employers "cannot afford another minimum-wage increase" of any amount.
Mayor Rahm Emanuel has announced his support of a higher minimum wage, but for less than $15 an hour. Emanuel last week trumpeted the creation of a minimum wage "working group" tasked with creating a plan for increasing worker wages in the city and previously said he backed President Barack Obama's push for a $10.10 federal minimum wage.
Source
Protesters Converge On Stephen Schwarzman's Water Mill Home
About 35 protesters from various political organizations—the Center for Popular Democracy, Make the Road New York, New...
About 35 protesters from various political organizations—the Center for Popular Democracy, Make the Road New York, New York Communities for Change, and Strong for All Economy Coalition—converged on the Water Mill Home of Stephen Schwarzman on Friday afternoon.
Mr. Schwarzman is the chairman and CEO of The Blackstone Group and an adviser to President Donald Trump.
Read the full article here.
For immigrants fighting deportation, a push for government-funded lawyers
For immigrants fighting deportation, a push for government-funded lawyers
Nearly 4,000 immigrants in the Washington region face deportation every year without a lawyer, according to a report...
Nearly 4,000 immigrants in the Washington region face deportation every year without a lawyer, according to a report that calls on area governments to follow the lead of New York and Los Angeles and provide funding for legal aid to immigrants.
The Center for Popular Democracy, a national nonprofit organization, analyzed thousands of deportation cases at immigration courts in Baltimore and Arlington and found that immigrants were far more likely to prevail if they had a lawyer...
Read full article here.
Black Lives Matter asks state Dems for 'reparations'
Will Black Lives Matter revive the debate over reparations? The case for reparations is typically made as a form of...
Will Black Lives Matter revive the debate over reparations?
The case for reparations is typically made as a form of economic compensation to descendants of slaves. These days, some racial activists also make the case for reparations as compensation for systemic discrimination in law enforcement.
Several black leaders addressed Democratic state legislators Friday at the State Innovation Exchange in Washington, D.C.
"Thinking about decriminalization with reparations," Marbre Shahly-Butts, deputy director of racial justice at the Center for Popular Democracy, said. "The idea is we that have extracted literally millions of dollars from communities, we have destroyed families. Mass incarceration has led to the destruction of communities across the country. We can track which communities, like we have that data. And so if we're going to be decriminalizing things like marijuana, all of the profit from that should go back to the folks we've extracted it from." That comment received widespread applause from the crowd of Democratic state legislators. Shahly-Butts was referring to decriminalizing more than drug crimes, but also loitering, bans on saggy pants and thousands of other laws that disproportionately affect blacks.
Shahly-Butts added, "'Reparations' makes people kind of uncomfortable, so we can call it 'reinvestment' if you want to. Use whatever language makes you happy inside."
Fellow panelist Dante Barry, executive director of the Million Hoodies Movement for Justice, also called for a type of reinvestment. "In terms of response around black youth unemployment, it gets back to this whole piece around reinvestment," Barry said. He spoke about New York City's plan to spend $100 million on 1,000 new cops. "What would you do with $100 million? How would we better use that money to provide jobs for unemployed youth, to provide housing, to have mental health access. … It's really about how do we rethink some of our budgetary needs and how we're putting power behind the way that we can really incorporate reinvestment in communities."
Barry must have decided "reinvestment" made him happier inside than "reparations."
When asked if she could pick just one policy change for state legislators to work on, Shahly-Butts replied, "State budgets and then reparations are my two go-to [ideas]." In response to the same question, Barry called for banning all guns on campus.
Source: Washington Examiner
Gov. Cuomo Signs New Legislation Making it Easier for Workers and the State Labor Department to Fight Wage Theft
New York Daily News - January 4, 2014, by Albor Ruiz - It feels good to be able to write about something positive for...
New York Daily News - January 4, 2014, by Albor Ruiz - It feels good to be able to write about something positive for New York workers in my first column of 2015. After all, measures that benefit them and rein in abuses by their bosses are as rare as snow in August.
It took a long time but on Monday Gov. Cuomo gave a last-minute Christmas gift to hundreds of thousands of low-wage laborers across the state by signing legislation making it easier for workers and the state Department of Labor to fight wage theft, which in New York has been an epidemic for many years.
“I am tired of waiting,” said Marcos Lino, who filed a complaint with the Department of Labor in 2008 after enduring four years of being shortchanged by his boss in a small Flushing grocery store. Six years have passed and his case is still unresolved.
Hopefully now Lino — and thousands more who, like him, have waited far too long to recover what is rightfully theirs — will finally get some justice.
“The groundbreaking legislation signed today will protect both workers from abuse, and law-abiding businesses from being undercut by employers who turn a profit by breaking the law,” said Andrew Friedman, co-executive director of the Center for Popular Democracy.
It should also help reduce the backlog at the Department of Labor.
The legislation, sponsored by Bronx Democratic Leader and now Assembly Labor chair Carl Heastie and state Sen. Diane Savino, improves on the landmark Wage Theft Prevention Act (WTPA), also sponsored by them and signed in 2010 by then-Gov. Paterson. The WTPA strengthened penalties for wage theft and protections for workers who report it.
“Mugging employees out of pay not only hurts families, it hurts communities. It makes honest employers less competitive,” Savino said when the WTPA was signed into law . “Businesses that are good citizens and pay their employees exactly what is owed them and on time, as is required by law, should not be at a disadvantage to companies that are illegally withholding wages from their workers.”
The New York Coalition to End Wage Theft supports the new legislation, which also has the backing of labor, community and religious groups, and law-abiding employers. It improves on retaliation protection for workers, transparency provisions to help advocates and workers identify cases of wage theft and helps facilitate wage theft policing.
But as Deborah Axt, co-executive director of Make The Road New York, warns, the new law is no panacea.
“Much remains to be done,” she said, “to eliminate the scourge of wage theft that still victimizes working families and responsible businesses alike.”
Source
Building a National People’s Movement
Over the past year, millions of workers have earned a raise as a result of the growing boldness of workers and...
Over the past year, millions of workers have earned a raise as a result of the growing boldness of workers and organizers across the country. The success of the Fight for 15 and similar movements is no accident. Rather, it is the product of years of experimentation, perseverance, and creativity—and today, organizers may have finally hit on a powerful formula for helping workers take back some measure of power.
This success stems first and foremost from a basic reality: The economy in its current state is just not working for Americans. Nearly a decade after the 2008 recession, millions of families around the country have yet to be even touched by the recovery. Wages have stayed flat even as worker productivity has soared. Too many are stuck in jobs that don’t pay the bills, working hard and failing to even stay afloat.
Moreover, it has become increasingly clear that their suffering is by design, not a product of simple economics. The bad behavior of major corporations has been a driving force. Walmart and McDonald’s have come under fire for paying workers wages that force them onto public assistance to cover their basic needs. Pharmacy chains like Walgreens “promote” workers to salaried positions that require more hours without the chance at overtime pay. And countless businesses, from pizza chains to car washes, rob workers of an honest day’s pay through different forms of wage theft.
This atmosphere is ripe for the emergence of policies that give workers the pay they deserve. Getting these policies in place, however, requires a fight.
For years, community and labor organizations around the country supported workers by helping them organize themselves, going store by store, employer by employer. More recently, though, organizations such as Make the Road New York, Working Washington, New York Communities for Change, and others have begun to target entire industries—and, in turn, the economy as a whole. Pinning the blame on bad practices that are common to all companies—rather than one individual employer—allowed them to make the case that the problem demanded a widespread response.
Moreover, the demands have grown bigger, escalating from modest increases in the minimum wage to $8.75 to a more ambitious $10.10 and then all the way to $15. And while minimum-wage fights were traditionally separate from those for paid sick days, many organizers realized linking the two made for a far more powerful and galvanizing campaigns. The more ambitious our demands became, the more effective we have become, demonstrating the political salience of transformative demands.
Finally, more money for robust field campaigns was a critical part of the solution. Unions like the Service Employees International Union made a strategic decision to invest big in campaigns that would lift up the needs of all workers—including those who weren’t part of their union, a fundamentally new approach to organizing. As momentum grew, other unions and foundations have joined the cause, recognizing that helping working women and men to stand up for themselves and their families helps the whole economy. This funding has enabled organizations to launch bigger, more ambitious campaigns and to have the firepower needed to win them.
The results have been nothing short of extraordinary. Just a few years ago, when fast-food workers first went on strike in New York City, a $15 wage was unimaginable. This year, it became a reality in two of the largest states in the country—New York and California—affecting nearly nine million workers. Nearly 30 states have taken action to lift their minimum wage above the federal threshold of $7.25—and almost ten have done so for tipped workers. Ten states and more than a dozen cities have passed paid sick days for workers.
In the coming year, more than a dozen states and cities ranging from Wisconsin to Pennsylvania will be seeking a raise for their residents, reaching as high as $15 in many places. And, with half the country concentrated in America’s top 35 metro areas, the impact of these local laws has been disproportionate.
Today, organizers around the country are setting their sights on bigger goals, applying the lessons learned from the push for higher wages. We will be working to improve access to affordable housing, enact fair scheduling reforms that protect workers from unpredictable hours, and reduce the parasitic power and tax avoidance of hedge funds and other major corporations.
Yet individual victories are not enough. To truly convert this energy into lasting change, we will need a unified, nationwide movement that situates economic justice as just one part of a broader agenda of opportunity. And we will need this movement to be rooted in resilient, democratic people’s organizations on the front lines, all across the country.
This weekend, the Center for Popular Democracy is convening a People’s Convention that will bring together thousands of organizers from community groups across the country. The weekend will provide an opportunity to share lessons learned, to strategize together and to harness the energy of the past year into a powerful organized movement for progressive change through the next decade.
By providing the space for community leaders and organizers to begin working as one, we will begin to shift the balance of power back to working families and ensure the voices calling out for a future with dignity and justice will not fade out.
By Andrew Friedman
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