Wall Street > Main Street

Donald Trump campaigned on a series of populists promises aimed at, allegedly, protecting working Americans. One of the most notable of those promises was his pledge to be tough on Wall Street (“Hedge fund managers are getting away with murder”). Today he broke that promise. Trump signed a series of executive orders aimed at rolling back financial reform.

The actions include announcing Trump’s intention to dismantle the Dodd-Frank Act, the economic safeguard enacted to prevent the type of risky financial behavior that led to the Great Recession, and reversing the fiduciary rule, the Department of Labor’s rule that reins in crooked financial advisers.

It wasn’t long ago that the financial crisis wiped out 8.5 million jobs, sent unemployment over 10 percent, and left working families picking up the pieces. Meanwhile, Wall Street banks like Goldman Sachs (formerly run by Trump’s NEC Director Gary Cohn) were bailed out by taxpayers. Two weeks into his presidency, Trump has staffed his administration with Wall Street alums and is enacting policies that help—you guessed it—Wall Street, all at the expense of American consumers and economic growth.

WHAT’S TRENDING

Jobs. Even though former President Obama is currently putting the fun in (f)unemployment, he made sure to end his jobs record with a bang: 227,000 jobs were added in January, underscoring the fact that Trump is inheriting a much, much stronger economy than Obama did. Who knows how long it will last, as President Trump has already enacted executive orders, like the bans on refugees and immigrants, that are not only immoral, but hurt long term economic growth.

Being unhelpful. Amidst the Trump Administration’s continued, multi-pronged attack on communities of color, Breitbart editor Milo Yiannopoulos started a college scholarship exclusively for young white men…

Priorities. Congressional Republicans seem to have theirs mixed up, especially when it comes to supporting policies to Make America Safe. Their response to Trump’s executive orders banning immigrants from seven majority-Muslim countries ranged from supportive to silent. Then yesterday, the House voted to roll back an Obama Administration rule requiring background checks on gun sales. No one has ever been killed in the U.S. by terrorists from any of the seven banned countries. More than 30,000 people are killed by guns in the U.S. every year.

Right to work. Yesterday, Missouri lawmakers passed a right to work law and sent it to Governor Greitens, who has promised to sign it. With Greitens’ signature, Missouri will become the 28th state in the US with right to work laws. This is bad news as right to work laws take workers in the wrong direction. Numerous studies show that these laws harm all workers—regardless of their union status—as well as families without stimulating any additional job creation.

“Plans.” Remember all that talk about congressional Republicans making health care great again? Well the current replacement plan proposed by Sens. Collins (R-ME) and Cassidy (R-LA) isn’t going to do much for working families. The plan relies on Health Savings Accounts (HSAs), which according to the Center on Budget and Policy Priorities, “would do little to help low- and moderate-income people afford adequate health insurance while greatly expanding tax-sheltering opportunities for high-income people.”

ACTION(S) OF THE DAY

Can you hear me now? That’s what a bunch of Nevadans are saying as they try, with little success, to reach Senator Dean Heller. Voters are particularly concerned about Trump’s cabinet nominees, especially the grizzly bear-phobic Department of Education nominee Betsy DeVos. Check out all of these stories of frustrated Nevadans. Heller isn’t the only one whose phone has been ringing off the hook. Sen. Lisa Murkowski’s office was flooded with calls earlier in the week and she announced Wednesday that she will vote against DeVos. Resistance works! DeVos is only one vote away from being defeated! Call your Senator today: (202) 224-3121 and demand they #DumpDeVos.

#WeAreAllAmerican. Today, civil rights and faith groups, immigrant rights leaders, and advocates are gathering in cities across the country to respond to Trump’s assault on immigrants and refugees. See the full list of events here.

#CRA. Now Congress will vote to overturn a rule preventing oil and gas companies from releasing unlimited amounts of methane pollution when drilling on public lands. Call this number: (202) 224-3121 today to urge your senator to oppose rollbacks of pollution standards that protect our climate, clean air, and taxpayer dollars.

UNDER THE RADAR

Take it slow. More than half of Americans think Trump is taking his relationship with the country too quickly, according to a new Gallup poll. The poll also finds that a majority of Americans disapprove of Trump’s executive actions: 55 percent disapprove of the Muslim ban and 60 percent oppose the wall. In other polling news, 40 percent of Americans already want to impeach Trump. He’s been president for two weeks.

FACT CHECK

Bowling Green Massacre. It wasn’t in your history books or your newspapers, folks, because it never happened. But that’s what Kellyanne Conway used to justify President Trump’s Muslim Ban. Looks like someone’s taken her ‘alternative facts’ a little too far.

GOOD NEWS

“We will not retreat.” That’s what Oregon Governor Kate Brown had to say in response to Trump’s executive order that threatens sanctuary cities. Yesterday, Gov. Brown signed her own executive order forbidding state agencies and employees from helping federal immigration officials locate or apprehend unauthorized immigrants.