The biggest banks in the country—the ones that wrecked our economy and cost millions of Americans their jobs—pay next to nothing on the debt they owe the government, while students pay nine times as much. That isn’t right.
That’s why I’ve introduced the Bank on Students Loan Fairness Act to let students take advantage of the same low rates offered to banks for one year while Congress finds a fair, long-term solution on student loan interest rates.
The interest rate on federal subsidized Stafford student loans is set to increase from 3.4% to 6.8% on July 1st. If Congress doesn’t act soon, millions of college students will see their student loan payments jump.
Some argue that it’s too expensive to keep government loans at low interest rates, but the federal government makes low interest loans all the time—just not to everyone. Big banks can borrow money through the Federal Reserve discount window at a rate of about 0.75%.
That’s why I started a petition on MoveOn‘s petition site which says:
Wall Street banks—the ones that wrecked our economy—should not be getting a better interest rate on their government loans than young people trying to go to college.
This petition was created on MoveOn’s online petition site, where anyone can start their own online petitions. Senator Elizabeth Warren didn’t pay us to send this email—we never rent or sell the MoveOn.org list.
Incredible! More than 325,000 MoveOn members have signed on in support of Senator Elizabeth Warren’s first bill—the Bank on Students Loan Fairness Act. Will you join them? Click here to sign.
Get this: Student loaninterest rates are about to double to 6.8 percent. But big banks? They’re getting a sweet, sweet deal on borrowing money from the Fed: 0.75 percent.
No, that’s not a typo. Students will be paying 900 percent more than the biggest banks on Wall Street to borrow money.
“As a country, every time we advance money to the big banks at low interest rates, we invest in those banks. We should be making at least that same kind of investment in our students.”
She’s right — and she just introduced her first bill to the Senate to fix this absurdity.
Back up Sen. Elizabeth Warren — become a citizen co-sponsor of her bill to give students the same ultra-low interest rates as big banks.
Sen. Warren Introduces the Bank on Students Loan Fairness Act
Published on May 8, 2013
Senator Warren Introduces the Bank on Students Loan Fairness Act, her first piece of stand-alone legislation, on May 8, 2013. The bill would would students who are eligible for federally subsidized Stafford loans to borrow at the same rate the big banks get through the Federal Reserve discount window. The full text of Sen. Warren’s remarks may be found here:http://1.usa.gov/143CUcs
On July 1st, the interest rate on new federal student loans is set to double from 3.4% to 6.8%. That rate is nine times higher than the rate at which the government loans money to the big banks.
That just doesn’t make sense. The federal government is profiting off loans to our young people while giving a far better deal to the same Wall Street banks that crashed our economy and destroyed millions of jobs.
That’s why I’ve introduced the Bank on Students Loan Fairness Act as my first bill in the Senate: To allow students to borrow money at the same rate as the biggest banks.
College students carry more than $1 trillion in student loan debt, more than all the credit card debt in the country.
That’s a crushing burden on our kids and a crushing burden on our economy. Today’s graduates aren’t just delaying buying a home and starting a family — they’re moving back home with mom and dad and struggling to create some economic security.
The big banks that crashed our economy receive loans from the federal government at a rate of only 0.75% — that’s right, three-quarters of ONE percent. If Congress doesn’t act by July 1, our students will pay nine times more than big banks. Our students are the engine of our economic future, and they deserve at least the same deal as Wall Street.
Students don’t get the same Too Big to Fail guarantee as the big banks. But even though some students can’t pay their loans, overall the government is making 36 cents on every dollar we put into the student loan program. Next year, student loans are expected to bring in $34 billion.
Why should the big banks get a nearly-free ride while people trying to get an education pay nine times more? It isn’t right.
P.S. Loan rates double in less than two months. We can’t afford to wait – sign on today.
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The U.S. Senate blocked simple legislation that would have expanded background checks and kept guns out of the hands of dangerous people. Join mothers like Roxanna Green, and contact your Senators today to let them know that you’ll keep the pressure on Congress until meaningful reform — including expanded background checks for gun sales — is passed.
Enter your information in the form to the right and we’ll connect you to your senator’s office.
When you are connected to your Senator’s office, tell them three things:
1. Tell them your name and where you are from.
2. Tell them to support criminal background checks for all gun sales.
3. Let them know that no mom should ever have to bury her own child, and that you will continue to demand action until Congress acts.
If you aren’t able to call, click here to add your name to a Mother’s Day card for the U.S. Senate.
I still have one of the last Mother’s Day cards my daughter, Christina-Taylor Green, gave me.
She was just nine years old when she was murdered in the mass shooting in Tucson, Arizona. She only gave me a few cards, but I cherish them all.
This Mother’s Day — if you can — send a card to your mother. Or give her a call.
But today, I hope you’ll take a minute to stand with moms who won’t hear from their children this Sunday. The moms of Columbine. Virginia Tech. Tucson. Aurora. And Newtown. The moms of the 33 people who are murdered with guns every single day in this country.
Join me in telling the Senate to stand with moms & kids — not with the gun lobby:
The US Senate blocked legislation that would have expanded background checks and kept guns out of the hands of dangerous people. They went against the will of more than 90% of Americans who support background checks for all gun sales.
Join me and other moms in thanking those who did the right thing and telling those who voted against background checks that they should be ashamed.
Call your senators and tell them you stand with moms:
I know there’s nothing we can do to bring back all the children who have been murdered with guns. But we can do our best to make sure no other families have to go through this pain.
A July 4 march encourages gun advocates tocarry loaded rifles into Washington, DC and knowingly break the law. Although described as a nonviolent “act of civil obedience,” organizer Adam Kokesh implied a threat of violence if “the government chooses to make it violent.” He encourages participants to peacefully submit to law enforcers but underlines that point with, “We are truly saying in the SUBTLEST way possible that we would rather die on our feet than live on our knees.”
Since Friday, more than 2,000 people have RSVPed to the march to “put the government on notice.”
In a local news channel interview pointed out by Politico, Metropolitan Police Department Chief Cathy Lanier explained that this is an open disregard for DC law:
[W]hen you cross with firearms and you’re not in compliance with the law now you’re talking about a criminal offense and there’s going to be some action by police. Obviously there has been no permit filed by the organizer and we’ve not made contact with the organizer yet. But we will, and we’ll make sure they understand that if they want to pass through the District of Columbia with loaded firearms as long as they are in compliance with the firearms laws for transportation of firearms to the District, we’re all for it. But passing into the District of Columbia with firearms is a violation of the law and we’ll have to treat it as such.
Whether Lanier’s warning invigorates or extinguishes the protest remains unclear.
Kokesh’s plans, along with a series of other open carryprotests, undermines arguments made by the National Rifle Association against gun violence prevention. The NRA claims that it is unfair of the government to strengthen background checks or ban assault rifles for law-abiding citizens. Yet this protest plans to purposely break the law.
That point is missed by Kokesh. Open carry is illegal in the District, but Kokesh wants to aim his message at the federal government for attempting modest background checks supported by gun owners and non-gun owners alike.
“Today’s vote is a damning indictment of the stranglehold that special interests have on Washington. More than 40 U.S. senators would rather turn their backs on the 90 percent of Americans who support comprehensive background checks than buck the increasingly extremist wing of the gun lobby. Democrats – who are so quick to blame Republicans for our broken gun laws – could not stand united. And Republicans – who are so quick to blame Democrats for not being tough enough on crime – handed criminals a huge victory, by preserving their ability to buy guns illegally at gun shows and online and keeping the illegal trafficking market well-fed.
Senators Manchin and Toomey – as well as Majority Leader Reid and Senators Schumer, Kirk, Collins, McCain and others – deserve real credit for coming together around a compromise bill that struck a fair balance, and President Obama and Vice-President Biden deserve credit for their leadership since the Sandy Hook massacre. But even with some bi-partisan support, a common-sense public safety reform died in the U.S. Senate at the hands of those who are more interested in attempting to protect their own political careers – or some false sense of ideological purity – than protecting the lives of innocent Americans. The only silver lining is that we now know who refuses to stand with the 90 percent of Americans – and in 2014, our ever-expanding coalition of supporters will work to make sure that voters don’t forget.”
About Mayors Against Illegal Guns
Since its creation in April 2006, Mayors Against Illegal Guns has grown from 15 members to more than 900 mayors from across the country. We have more than 1.5 million grassroots supporters, making us the largest gun violence prevention advocacy organization in the country. The bipartisan coalition, co-chaired by New York City Mayor Michael Bloomberg and Boston Mayor Thomas Menino, has united the nation’s mayors around these common goals: protecting communities by holding gun offenders accountable; demanding access to crime gun trace data that is critical to law enforcement efforts to combat gun trafficking; and working with legislators to fix weaknesses and loopholes in the law that make it far too easy for criminals and other dangerous people to get guns. Learn more at www.MayorsAgainstIllegalGuns.org.
Mayors Demand Action to End Gun Violence
Published on Mar 6, 2013
Mayors Against Illegal Guns released this PSA featuring 30 mayors demanding that Congress take immediate action to prevent gun violence by requiring background checks for all gun sales, removing military-style assault weapons and high-capacity magazines from our streets and making gun trafficking a federal crime.
Mayors Against Illegal Guns has released a PSA featuring 30 mayors demanding that Congress take immediate action to prevent gun violence. The PSA marks a transition in the coalition’s campaign from demanding a plan to demanding that Congress take action to pass legislation to require background checks for all sales, limit military-style assault weapons and high-capacity magazines and make gun trafficking a federal crime. The bipartisan coalition now includes more than 900 mayors from 45 states and more than 1.4 million grassroots supporters.
Demand a Plan – Roxanna Green
Published on Jan 7, 2013
Roxanna Green’s nine year-old daughter Christina-Taylor was killed at the Tucson shooting.
Watch her personal message asking leaders in Washington to offer a plan to end gun violence, and join her by signing our petition.
Statements of Mayors Against Illegal Guns Co-Chairs on President Obama’s Comprehensive Proposal to Reduce Gun Violence
Mayors Against Illegal Guns Releases New Television Ad Demanding Action From Washington and Report On Gun Lobby Suppression of Research on Gun Violence on One-Month Anniversary of Newtown Shooting
In light of the NRAsshole Convention in the great city of Houston, Greater State Of Texas…here is the first really true public service announcement from the NRAsshole Organization for it’s membership….
A ‘Gun Lobby’ commercial reassuring all Americans that 2nd Amendment Gun Rights will not be taken away by the government. Help Support their efforts to keep guns in the hands of those who want them. No questions asked.
The current background check ‘loopholes’ create a very dangerous environment, where anyone can easily bypass the system of safety regulation and get the guns that they desire. Contact your local Senator and tell them that this is unacceptable.
For More Information about how you can support the effort, please visit:
The George R. Brown Convention Center in Houston is prepared for the annual convention of the National Rifle Assn. The event, which begins Friday, is expected to draw more than 70,000 people. (Johnny Hanson / Associated Press / May 1, 2013)
HOUSTON — The National Rifle Assn.’s annual convention begins in earnest Friday in Houston, with leaders who have spent the year defending the group in the wake of mass shootings emboldened by the recent defeat of federal gun control legislation and ready to rally around this year’s theme: “Stand and Fight.”
“If you are an NRA member, you deserve to be proud,” Wayne LaPierre, the NRA’s chief executive wrote to members last week, saying they “exemplify everything that’s good and right about America.”
On Friday afternoon, LaPierre is scheduled to appear at the convention with a panel of political leaders who have championed gun rights, including former Republican vice presidential candidate Sarah Palin (who some tea party advocates are hoping will make a run for the Senate), Texas Sen. Ted Cruz (also a tea party favorite), Texas Gov. Rick Perry, Louisiana Gov. Bobby Jindal and former Pennsylvania Sen. Rick Santorum.
LaPierre will address the membership again Saturday before a “Stand and Fight” rally.
More than 70,000 people from across the country and abroad are expected to attend the three-day event at Houston’s downtown convention center drawn by, among other things, a gun trade show, youth day, firearms classes and a speech by rocker and NRA ally Ted Nugent.
“It is on track to be the largest NRA annual meeting ever,” NRA spokesman Andrew Arulanandam told the Los Angeles Times. “I think a lot of it has to do with the fight that we’re in. People understand that now more than ever they need to come out and support the 2nd Amendment.”
Gun control advocates also planned to flock to the convention center, and Arulanandam said that shouldn’t cause friction.
“That is people exercising their 1st Amendment rights. We respect their 1st Amendment rights, and we hope they respect our 1st and 2nd Amendment rights,” he said.
Among events gun control groups have planned: a petition drive for expanded background checks of gun purchasers, veterans speaking out against illegal guns, and a vigil near the convention center for victims of gun violence that will start Friday morning and last through Sunday.
The “No More Names” vigil includes the names of those killed in the massacre at Sandy Hook Elementary School in Newtown, Conn., and others who have died since then in gun violence, said Lauren Weiner, a spokeswoman for Washington, D.C.-based Americans United for Change.
When supporters held a similar event last month ahead of the Senate gun control vote, they had collected about 3,300 names, Weiner told The Times.
“We don’t want to add any more names to the list. That’s our goal ideally through passing legislation,” Weiner said.
Among those expected to attend the convention is Erica Lafferty, daughter of slain Sandy Hook principal Dawn Hochsprung. Lafferty has become an outspoken proponent of gun control legislation.
Weiner said the failure of gun control legislation has emboldened rather than demoralized supporters, citing an incident earlier this week in which Lafferty and others confronted Sen. Kelly Ayotte (R-N.H.) over her vote.
“We look at it as a first step in a process,” Weiner said of the legislation’s defeat. “It has galvanized folks — you’ve seen it in New Hampshire this week. Folks realize that we need to be louder,” particularly relatives of those killed in Newtown.
Kim Russell, national field director for the gun control group Moms Demand Action for Gun Sense in America, said their membership grew and donations poured in after the Senate vote (20% of their total donations to date came within 24 hours). They, too, plan to have a presence in Houston.
“That Senate vote was the second alarm. Newtown was the first,” Russell told The Times. “There’s a backlash now.”
RT @citiZENsROCK: Dear @GOP: If you’re looking for “an enormous national security failure,” don’t keep spinning Benghazi—take a hard look a…Still A MilitantNegro 2 hours ago
Jueseppi B.
