Would Re-establish Key Provisions of the Glass-Steagall Act—Limiting Risk Taking by Commercial Banks, Requiring Investment and Insurance Spin-offs, Ending Era of 'Too Big to Fail'
Increasing numbers of low- and middle-income families use credit cards for basic living expenses. As health care costs have increased and health insurance coverage has become inadequate, medical expenses have become another basic cost that families increasingly cover through credit cards.
"Public structures" has proven to be an effective organizing idea for more constructive conversations about the role of government in American life. The concept was first developed by the principals of the Topos Partnership in research they conducted for Public Works in 2005, and since then, it has been field-tested by Public Works with advocates, elected officials, public sector managers, and public policy organizations around the country.
Paving the Way is part of a larger effort undertaken by the Topos Partnership and Public Works to create more constructive public dialog about public policy and economic outcomes. Promoting Broad Prosperity contains the complete findings and recommendations from this body of research.
As Congress Takes Up Sweeping Financial Reform, Report Urges Fundamental Change of Ratings Agency Model
Washington, DC — With the House of Representatives and a key Senate committee poised to vote on sweeping financial industry reforms, a new report by Demos finds that the proposed remedies fail to fully address the problems that led the credit rating agencies to become key enablers of the housing bubble and Wall Street meltdown.
America's students are facing a serious threat from subprime private loans, and the situation could worsen unless Congress votes to close a potential loophole in the proposed Consumer Financial Protection Agency.
Expanded Presence In Nation's Capital Will Strengthen Congressional And White House Policy Outreach, Host Public Events Series
Washington, D.C. — This week, Demos, a national, non-partisan public policy research and advocacy center, is pleased to announce two significant staffing changes:
Heather McGhee has been named Director of Demos' new Washington, D.C., office.
Testimony of Margrete Strand Ranges, Director of the Sierra Club's Responsible Trade Program
Demos, in collaboration with a variety of environmental groups, including the Sierra Club, helped prepare the following testimony presented at the House Ways and Means Committee hearing on the operation, impact, and future of U.S. trade preference programs, arguing for inclusion of environmental criteria.
The United States has long granted trade preferences to developing countries that meet various criteria. These criteria, which are stipulated by the Generalized System of Preferences (GSP), have changed with time — reflecting U.S. economic and foreign policy priorities.
While the criteria include non-support for terrorism, enforcement of intellectual property rights, and respect for internationally recognized worker rights, the GSP does not include an environmental provision.
The United States has long granted trade preferences to developing countries that meet various criteria. These criteria, which are stipulated by the Generalized System of Preferences (GSP), have changed with time — reflecting U.S. economic and foreign policy priorities.
While the criteria include non-support for terrorism, enforcement of intellectual property rights, and respect for internationally recognized worker rights, the GSP does not include an environmental provision.
10 years later, the end of Glass-Steagall has been blamed by some for many of the problems that led to last fall's financial crisis. While the majority of problems that occurred centered mostly on the pure-play investment banks like Lehman Brothers, the huge banks born out of the revocation of Glass-Steagall, especially Citigroup, and the insurance companies that were allowed to deal in securities, like the American International Group, would not have run into trouble had the law still been in place.
Comprehensive and meaningful systemic risk reform must undo many of the ill-advised deregulatory measuresof the past 20 years, including the four key changes wrought by the Gramm-Leach-Bliley Act.
The result of all this has been that many of today's young people--again, especially the poor, those with less education and people of color--have a measurably harder road to travel than their generational elders, according to "The Economic State of Young America," a report published in spring 2008 by Demos, a New York-based research and advocacy organization. Between 1975 and 2005, for instance, the typical annual income for workers between the ages of 25 and 34 decreased across all educational brackets, with the exception of women with bachelor's degrees.
