Watch The 2015 Awards Gala Celebrating America's Future
See the powerful speeches from award winners Sen. Elizabeth Warren, Lily Eskelsen García, Scott Wallace and National People's Action on our 2015 Awards Gala page.
Stiglitz Lays Out Economic Vision
New book from Joe Stiglitz details plan to reduce income inequality. The Atlantic: "...the solutions cover everything from fiscal policy to corporate boardrooms to retirement savings ... massive changes to tax laws, regulations, and the financial sector are needed, he says, in order to curb rent-seeking ... He accuses the Fed of being both too narrowly focused on macroeconomic indicators ... He wants the government to sponsor a homeownership agency that would dole out housing loans in a way that encourages buyers instead of developers..."
Sen. Warren is still shaping the Democratic agenda. LAT: "Five months after her most zealous backers officially moved on to other candidates, the Democratic Party’s issues in 2016 are largely Warren’s issues: college affordability, Wall Street accountability, Social Security without compromise, skepticism about a Pacific trade deal ... The question now is whether she can maintain her cudgel as Clinton solidifies her strength..."
Politico reports Wall Street banks are shrinking: "J.P. Morgan is selling off a chunk of its private equity business. AIG is contemplating breaking into smaller pieces. Goldman Sachs and Morgan Stanley are watching trading profits dwindle with no real clue if or when they will ever come back. Giant banks including Wells Fargo will now be required to raise around $120 billion in new capital. General Electric is getting out of the financial services business entirely."
TPP text may be released soon. The Hill: "The deal was completed on Oct. 5 and the administration said it was aiming to release the text within 30 days after that. However, there remain several sticking points that could stand in the way of final passage next year..."
Ryan In Middle of GOP Civil War
Speaker Ryan has to navigate GOP civil war between Chamber of Commerce and Tea Party. NYT: "Chamber leaders say they intend to 'double down' in the 2016 elections and jump in against the hard-right conservative critics when a winnable opportunity arises ... They praise Mr. Ryan, but do not seem totally sure what to expect ... Ryan opposes the renewal of the Export-Import Bank..."
Republican candidates don't emphasize their tax plan details. NYT's Josh Barro: "The biggest tax in [Ted Cruz's] plan is a 16 percent value added tax ... equivalent to a very broadly based sales tax ... the Rubio plan offers ... the smallest improvements for moderate earners ..."
Keystone Stalls
TransCanada asks Obama administration to suspend Keystone process. The Hill: "TransCanada Corp., which until recently repeatedly pressured President Obama to take action on the permit after seven years of delay, cited Nebraska officials’ review of Keystone’s route in asking for the pause from the State Department Monday. The request is almost certain to push the timeline for Keystone’s review past January 2017, when Obama’s term will be over and a new a president will take office."
But is Keystone really dead? Politico: "On MSNBC, the liberal talk show host Rachel Maddow declared: 'Keystone is dead.' But TransCanada's gambit can also be seen as a bet on the outcome of the next presidential election."
