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Regulating from Below: How Front-Line Bank Workers Can Help Fix the Financial Industry
Ten years after risky practices at our largest banks wreaked havoc on the global economy, we face a financial sector that, despite some reforms, remains broken in fundamental ways.
Wall Street has beat back many of the kinds of structural changes that happened after the Great Depression, and the reforms that have happened in the United States are rapidly being undermined by the Donald Trump administration. Banking scandals still abound—from Wells Fargo to Santander to Bank of America to Deutsche Bank. Consumers are encouraged to take on more debt than they can bear. Trust in the banking system remains dreadfully low while opacity of the financial system is near an all-time high.
In the wake of the 2008 crash, there was a renewed intensity by regulators and central banks to stop the bleeding caused by the banks’ irresponsible behavior, but that coordination has slipped away while power in the sector has concentrated in the hands of fewer and fewer banks and corporations.
The public is right to sound the alarm.
Strengthening oversight...
Best Candidates for Working People, 2018: Justin Nelson
AFL-CIO
This November's elections are shaping up to be among the most consequential in recent U.S. history. Throughout the summer and fall, we are taking a look at the best candidates for working people. Today, we feature Texas attorney general candidate Justin Nelson.
Here are some of the key reasons why Nelson is one of the best candidates for working people in 2018:
As the son of a former teacher and a labor lawyer, he understands the value of working people's right to organize.
He founded "One Nation One Vote," a nonprofit dedicated to making our electoral process more fair and democratic.
Nelson has authored briefs before the Supreme Court challenging gerrymandering.
He will fight to make sure Texans have access to health care that doesn't discriminate because of gender, age or pre-existing conditions.
Nelson will withdraw Texas from the state's lawsuit to end the Deferred Action for Childhood Arrivals. He will shift the focus of enforcement to criminals who actually threaten our safety.
He will fully enforce the...
Enjoy the Best of Oktoberfest with Ethical Brews and Bites
AFL-CIO
The salt will be plentiful and the steins will be full. Get ready for the bubbly, savory and salty sensations of Oktoberfest! The much-loved holiday officially lasts from Sept. 22 to Oct. 7 in Munich, but here in the United States, some of us choose to feast on the ’fest into November. And this Friday is National Drink Beer Day! Regardless of the calendar, Labor 411 has the seasonal and ethical brews to make your celebration that much more delicious. When you buy the products made by these manufacturers who treat their workers fairly, you’ll be supporting good middle-class jobs.
Seasonal Beer
Dundee Oktoberfest
Goose Island Oktoberfest
Leinenkugel’s Oktoberfest
Mad River Brewer’s Secret
Mendocino Brewing Engine 45 Pumpkin Ale
Samuel Adams Octoberfest
Samuel Adams Pumpkin Batch
Schell’s
Shock Top Pumpkin Wheat
Stegmaier Pumpkin Ale
Stegmaier Oktoberfest
Bratwurst
Boar’s Head
Koegel’s
Saag’s
Wenzel’s Farm Sausage
Sauerkraut
Claussen...
National Hispanic Heritage Month Profiles: Dora Cervantes
IAM
Throughout National Hispanic Heritage Month, the AFL-CIO will be profiling labor leaders and activists to spotlight the diverse contributions Hispanics and Latinos have contributed to our movement. Today's profile covers Dora Cervantes.
In nearly 30 years in the labor movement, Cervantes has participated in nearly every aspect of the fight for the rights of working people, and she has a distinguished career that is still going stronger than ever. Cervantes joined the labor movement in 1989, when she became a reservations agent for Southwest Airlines in Houston. Before long, she was an active member of Machinists (IAM) Local 2198, serving as an organizer, shop steward, recording secretary and then vice president.
After a decade of dedicated service, she was chosen to serve as an apprentice organizer for Airline District 142 and then became a general chairperson for the district the following year. Tom Buffenbarger, then-IAM international president, later appointed her to serve on IAM's 2002 Blue Ribbon Commission. In the following years, she served as a...
Best Candidates for Working People, 2018: Fred Hubbell
AFL-CIO
This November's elections are shaping up to be among the most consequential in recent U.S. history. Throughout the summer and fall, we are taking a look at the best candidates for working people. Today, we feature Iowa gubernatorial candidate Fred Hubbell.
Here are some of the key reasons why Hubbell is one of the best candidates for working people in 2018:
He wants to end tax giveaways for big corporations and use the money to grow local businesses, including expanding broadband across the state.
As interim director for the state's Department of Economic Development, he prioritized investments that created good returns for the state's workforce.
Hubbell wants to invest in wind and solar energy to create new jobs.
He wants trade partnerships with other states and countries that will expand markets for goods grown on Iowa farms.
Hubbell wants to simplify the state's tax code and lower rates for working families and small businesses.
Not only is he a dues-paying union member, his daughter and son-in-law are, too....
Best Candidates for Working People, 2018: Steve Sisolak
AFL-CIO
This November's elections are shaping up to be among the most consequential in recent U.S. history. Throughout the summer and fall, we are taking a look at the best candidates for working people. Today, we feature Nevada gubernatorial candidate Steve Sisolak.
Here are some of the key reasons why Sisolak is one of the best candidates for working people in 2018:
As a former member of the Nevada Board of Regents, Sisolak was a champion for students and parents who fought for increased education funding.
He will fight for higher teacher salaries and reduced class sizes.
Sisolak wants to expand job training and vocational education in Nevada so more students graduate high school with career options. This includes promoting partnerships between technical training programs and employers.
He will invest in clean technology. As Clark County commissioner, he helped recruit a solar manufacturer to the state, creating good-paying jobs.
Sisolak will work to diversify the state's economy by bringing in new industries while also ...
Everyone Needs an ‘Equity Card’
Harmony Gerber
The younger people in my life introduce me to songs they consider vintage but that are completely new to me. The Dead Kennedys, for example, are alive and well on my most recent playlist. And just this morning I heard, for the first time, "Work Bitch," by Britney Spears. As I listened to her sing "Bring it on/ring the alarm/don’t stop now/just be the champion," I added, in my best BritBrit voice, "and get a labor union, get some collective bargaining." (This is what it is like to ride in the car with me.)
The movie "9 to 5" came out when I was in sixth grade. It was a hit, even in West Texas. The decade that was the '80s was full of "Work Bitch" songs—beats to sweat off the toxic stress of the union-busting Ronald Reagan era. But no "Eye of the Tiger" could compare with the thrill of the fight that Dolly Parton, Lily Tomlin and Jane Fonda carried out together on screen. I had overheard grown women around me shaking their heads with a kind of laughter mixed with wistful, delayed revenge. When I saw the movie with friends in the theater, my laughter was mixed with dread. Is...
Best Candidates for Working People, 2018
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This November's elections are shaping up to be among the most consequential in recent U.S. history. Throughout the summer and fall, we are taking a look at the best candidates for working people. Here are the candidates we've covered so far!
Stacey Abrams (Ga.), governor
Randy Bryce (Wis.), U.S. House
Rich Cordray (Ohio), governor
Andrew Gillum (Fla.), governor
Jared Golden (Maine), U.S. House
Jahana Hayes (Conn.), U.S. House
Andy Levin (Mich.), U.S. House
Mahlon Mitchell (Wis.), governor
Bill Nelson (Fla.), U.S. Senate
Jacky Rosen (Nev.), U.S. Senate
Kyrsten Sinema (Ariz.), U.S. Senate
Tina Smith (Minn.), U.S. Senate
Jon Tester (Mont.), U.S. Senate
Tim Walz (Minn.), governor
Gretchen Whitmer (Mich.), governor
Check back regularly for more between today and Election Day!
Kenneth Quinnell
Tue, 09/18/2018 - 11:11
Tags:
Elections 2018
You Can Be Fired for Not Showing Up to Work During a Hurricane
Jobs With Justice
Ahead of a natural disaster like Hurricane Florence, politicians and safety officials tell the public to evacuate early and not wait until conditions get bad. We all know that you can lose your home and your belongings, but politicians never talk about the fact that during a disaster, many people can lose their jobs as well.
Even when there are mandatory evacuation orders, many businesses insist that employees still show up for work. Many more won’t pay employees for time missed ahead of, during and after a storm. This forces many to make an impossible choice between protecting their lives or protecting their jobs.
In September 2017, Hurricane Irma wrecked vast portions of Florida. In its wake, Irma left many Floridians without power, shelter or essential belongings. Worse, the impact of the storm meant many people did not know how they would earn their next paycheck. Some lost their jobs because they couldn’t make it into work during the storm, while others were left unemployed after businesses had to shut down for repairs. After...
What's Up with NAFTA, Anyway? Some Frequently Asked Questions
I’ve been getting so many questions about NAFTA, I thought I’d answer a few for everyone.
Why are they renegotiating the North American Free Trade Agreement? I thought NAFTA was bad.
NAFTA is bad. But the reason NAFTA is bad is not because trade is bad, or even that trading with Mexico and Canada is bad. NAFTA is bad because it is a set of rules that gives advantages to employers over workers, multinational companies over local firms, and giant corporations over communities. It has cost jobs and pushed down wages in all three countries.
In particular, NAFTA set up incentives to outsource U.S. jobs (by lowering tariffs on imports from Mexico) without requiring firms that operate there to meet basic international labor standards or minimum protections for the environment. It also incentivized additional outsourcing by creating a private justice system for firms that allows them to bypass local courts and go straight to international tribunals to argue that some health and safety standard or water protection rule or any other action by a host government deprives them...
