Elizabeth Warren: “The big banks have issued a threat, and it’s up to us to fight back.”
Mar 27, 2015 4:25 PM EDT
Just hours after Reuters reported that Citigroup and other banks are debating whether to halt some of their own donations, Senator Elizabeth Warren is calling on her followers to make up the difference.
Citing "concerns that Senate Democrats could give Warren and lawmakers who share her views more power," Citigroup has already decided for now to withhold donations to the Democratic Senatorial Campaign Committee, sources inside the bank told Reuters. The maximum that bank could donate under campaign finance rules is $15,000 per year.
"Citi's Political Action Committee contributes to candidates and parties across the political spectrum that share our desire for pro-business policies that promote economic growth," Molly Millerwise Meiners, Citi's Director of Corporate Communications said in a statement. Citigroup confirmed that it has not donated to the DSCC yet.
As for other banks, Goldman Sachs has already sent its 2015 donations, while Bank of America and JP Morgan are also considering their next steps.
In December, Warren gave a long speech criticizing the close ties between Citigroup and Congress. "There's a lot of talk coming from Citigroup about how the Dodd-Frank Act isn't perfect," Warren said. "So let me say this to anyone who is listening at Citi: I agree with you. Dodd-Frank isn’t perfect. It should have broken you into pieces."
The move is more symbolic than financial, and has already spurred a counteroffensive from Warren. In a fundraising request (titled "Wall Street isn't happy with us,"
Warren accused the banks of wanting Washington to puts its needs before Americans and "get a little public fanny-kissing for their money too." The pitch argues that 2016 Democratic Senate candidates could lose $30,000 each, and asks for for help raising matching funds.
“The big banks have issued a threat, and it’s up to us to fight back.”...
http://www.bloomberg.com/politics/articles/2015-03-27/elizabeth-warren-launches-counteroffensive-against-citigroup
Citigroup wrote their OWN deregulating legislation that got passed by a Democratic Majority senate & a president who whipped for them.
How quickly they forget.
= new reply since forum marked as read
LOL
Thanks for posting, Johnnyreb!! 
request from her and I donate what the banks and credit cards haven't ripped off from me yet, and the money will go to progressives
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But I'd really love for her to be on Bernie Sanders' ticket as his VP in 2016.
Dear Senator Warren,
I agree with your sentiment about fighting back against the big banks. But not one red cent will go to the tepid dems at organizations like the DSCC. What I am currently doing is scrimping and saving and doing with less, and paying off all my credit cards that are tied to big corporations. My Chase card will soon be paid off, and cut up. I will use my new credit union credit card, which has ONE HALF the interest rate of the Big Corp cards, and my donations will go straight to Progressive Dems...or Independents, or Socialists....to anyone with a record of backing progressive policies, and of NOT CAPITULATING.
And to YOU. ( In case you're thinking of "exploring" your options......... )
