House Volcker Letter Needs Support

On April 26th, Occupy the SEC sent out the following email as a call to action to the members of our mailing list:

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Dear Friends,

We wrote to you last week, asking you to call your Senators and Representatives and encourage them to attend our Volcker Rule Congressional Briefing, which was held this past Monday, April 23.  We want to sincerely thank all of you who called your Congresspeople.  Approximately 60 staffers attended from both the House and Senate, and the briefing was very well-received.

We now ask you to take an additional action in support of the Volcker Rule.

This morning, Senators Levin (D-MI) and Merkley (D-OR) put out a letter calling on our financial regulators to finalize a strong version of the Volcker Rule by the summer.  Twenty-two Senators have co-signed the letter, which has been finalized.

There is a draft companion letter circulating today in the House of Representatives that is being pushed by Rep. Blumenauer (D-OR3), Rep. Waters (D-CA35) and many other representatives.  It is important that as many members of the House of Representatives as possible co-sign the companion letter.  This would show the regulators that Congress is looking to them to complete the rule by the summer, without loopholes.

Please call your House representative and ask him/her to co-sign Rep. Blumenauer et al’s Volcker Rule letter.

The easiest way to do this is to call the Capitol switchboard at (202) 224-3121, and ask for your Representative’s office by name. You can also look up your Representative on Open Congress.

When you call, we suggest you tell the staffer:

I am your constituent, and I am calling to ask Rep. _____ to co-sign the  Volcker Rule letter being circulated by Rep. Blumenauer and Rep. Waters.  The letter calls on the regulators to finalize a strong Volcker Rule by this summer.

In case the person you speak to needs more information about the Volcker Rule, you could tell them:

The Volcker Rule is section 619 of the Dodd-Frank Act.  It is an important rule that will help address systemic risks to our banking system and the Too Big to Fail status of institutions managing trillions of federally insured deposits.  I support the rule and ask you to co-sign the letter from Rep. Blumenauer and Rep. Waters.

Thank you for your help and support.

In Solidarity,
Occupy the SEC

For More Information:
What is Occupy the SEC?
What is the Volcker Rule?
What was Glass-Steagall?