Below is the opening of our monthly newsletter. View the full newsletter online here.
Summer is often a slow time in Washington. Not this year! As the headlines make clear, there’s tons of dramatic and consequential political news. But there’s also lots of economic and financial news below those headlines that directly impact the lives and livelihoods of all Americans. That’s why our team has been crazy busy from the Supreme Court and the Federal Reserve to the SEC and the National Economic Council.
There’s lots going on, with important debates about innovation and technology in finance in the forefront. Some of those—like artificial intelligence—hold real promise, but peril as well. We must all rise to the challenge to work together to get the balance right. Others, however, are predatory and have no legitimate use, like crypto and gamification. Meanwhile, the growing prominence of special interests and lobbying, the manipulation of our courts, and proposals to allow gambling on elections are threatening to weaken our democratic institutions.
We know that powerful financial institutions and their many allies have the money, access and influence to have a say on all the key issues. The question is whether the interests of Main Street Americans will be considered. As you’ll see below, our team is working to ensure that all Americans have a voice in the future of our economy and country.
Our work in these areas aims to ensure that the public interest is represented and that there is an effective counterweight to the special interests that are all too powerful in Washington. While much of that work is fighting over highly technical rules, the overriding goal is a financial system that supports the real productive economy and generates broad-based wealth, which, done right, leads to social, economic, and racial justice.
With your help we will get a financial and economic system focused on wealth creation, not wealth extraction, one that doesn’t exploit hardworking Americans living paycheck to paycheck but one that enables them to have economic security and, ultimately, prosperity.
Dennis
Dennis Kelleher
Co-Founder, President, and CEO,
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