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The economic and financial decks are stacked against most Americans, no matter how hard they try or how hard they work. That is largely because the already wealthy have a stranglehold on the economy via a financial system that too often is focused on highly profitable wealth extraction activities to enrich the few rather than enabling broad-based wealth creation for the many. A big reason for that is that those wealthy few and the financial industry have hijacked, captured, and corrupted the democratic processes in Congress and at the regulatory agencies.
In just the past few months, we’ve seen Members of Congress parroting bank lobbyist talking points on proposals to curb predatory bank fees and shilling for a lawless crypto industry that has spent millions to get Congress to put its priorities above those of the American people. In fact, the crypto industry is poised to spend hundreds of millions of dollars this year targeting elected officials who don’t sell out the public interest and serve their special interests, copying a common tactic of the traditional financial industry.
For most Americans, even the most informed and even well-meaning lawmakers, it can be very difficult to see the truth through the financial industry’s barrage of propaganda, advertising campaigns, astroturf campaigns, lobbying, and campaign expenditures. (For just how common, longstanding, misleading and mendacious such influence campaigns can be, see Nick Hanauer’s new book “exposing the lies and half-truths that protect profit, power and wealth in America.”) That’s why we work tirelessly to strip away that PR-driven baloney, shine a bright light on what the financial industry is really doing, and push the best interests of Main Street Americans to the top of the agenda across Washington. This includes providing facts, analysis, and truly independent views for policymakers as they make decisions that impact the economic and financial well-being of all Americans.
Earlier this month, Rep. Stephen Lynch (D-MA) cited our work in a debate at a hearing about the importance of disclosure in our markets, especially around climate-related risks. The fossil fuel industry and its many allies on Wall Street and throughout the financial industry, as well as their many friends in Congress, have grossly distorted this crucial debate and policymakers fighting for the public interest need support as they take on those special interests.
“I think it’s described well by the folks over at Better Markets.”
Our advocacy is crucial on the full range of economic and financial issues, including for example the Department of Labor’s recently finalized Retirement Security Rule. We relentlessly advocated for this rule that will save tens of millions of Americans tens of billions of dollars in retirement investments. But the rule now faces a wave of misinformation and baseless opposition from the financial industry at the regulatory agencies, in Congress, the media, and even during sports events like the Superbowl! Better Markets will be fighting the industry’s relentless disinformation and lobbying campaigns on this issue every step of the way.
Hardworking Main Street Americans need a fighter who is expert in how power really works in Washington, fearless in opposing the financial industry and its many allies, and tireless in protecting, promoting, and prioritizing their financial and economic interests. Better Markets is that fighter, but we can only do that because of your support. That’s how we are able to take on the most powerful special interests in Washington.
Dennis
Dennis Kelleher
Co-Founder, President & CEO
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