Washington, D.C. – Dennis M. Kelleher, President and CEO of Better Markets, and Chris Jurgens, Director at Omidyar Network, issued the following statement today announcing a new partnership as part of Omidyar Network’s ‘Reimagining Capitalism’ program:
“Long before the coronavirus crisis, tens of millions of hardworking Americans faced extraordinary threats to their economic security, prosperity and opportunity from a dangerous, unstable and fragile financial system. Those threats have now materialized and increased, which is why Better Markets and Omidyar Network are working together to create a post-pandemic financial system that prioritizes and supports the productive economy, jobs and growth while reducing inequality and racial injustice,” said Mr. Kelleher. “Better Markets fights a financial system that is too often a predatory wealth-extraction mechanism rather than a wealth-creation system. Omidyar Network’s support will enable Better Markets to tackle that challenge through the policymaking process and be a more effective counterweight to Wall Street’s lobbying and influence.”
“We believe that a healthy, competitive, fair and stable financial system is a fundamental building block of our economy and of a reimagined capitalism. We need structural reform of the financial sector to achieve this goal, with checks on concentrated power to reorient the financial sector to serve the needs of the real economy,” said Mr. Jurgens. “We are proud to support Better Markets in its work on behalf of the public interest to promote a more inclusive and equitable economy for all.”
This partnership was made possible by a grant from Omidyar Network. This grant is the first received by Better Markets in conjunction with Omidyar Network’s ‘Reimagining Capitalism’ program. For more information about the partnership, read today’s blog post by Mr. Jurgens.
Better Markets is a non-profit, non-partisan, and independent organization founded in the wake of the 2008 financial crisis to promote the public interest in the financial markets, support the financial reform of Wall Street and make our financial system work for all Americans again. Better Markets works with allies – including many in finance – to promote pro-market, pro-business and pro-growth policies that help build a stronger, safer financial system that protects and promotes Americans’ jobs, savings, retirements and more. To learn more, visit www.bettermarkets.com.