Look at these numbers:
- A $700 billion Wall Street bailout
- A potential $25 billion auto industry bailout
- A $20 billion Citigroup bailout
But what about taxpayers and homeowners?
Last week we introduced our Citizens’ Agenda for the next administration. Putting homeowners and taxpayers ahead of CEOs in the massive Wall Street and auto industry bailout is at the top of this agenda. You can help.
At a moment when we should be trying as hard as possible to promote sustainable energy, UniStar Nuclear Energy is trying to charge through the Nuclear Regulatory Commission’s application process and build what would be the third nuclear reactor at Calvert Cliffs, Maryland.
In today’s Washington Post, Christy Goodman reports on the resistance from Public Citizen and a coalition of environmental groups. Allison Fisher, energy organizer for Public Citizen told her, “We are basically trying to point out the inadequacy of the application itself. The issues we are raising will demonstrate that this is both an economically and environmentally bad deal for Maryland.”
Read the full story.
In the midst of the economic dive, Congress threw billions at Wall Street without enacting any real oversight or regulations for the financial services industry. Public Citizen is pressing lawmakers to rein in Wall Street – and to stop giving corporate handouts.
We explain how this $700 billion bailout of Wall Street may affect you, the consumer, in the latest version of Public Citizine, an online sampling of articles from Public Citizen’s member newspaper, Public Citizen News.
While you’re there, you also can check out other stories detailing Public Citizen’s work.
Remember when the Consumer Product Safety Commission finally decided to ban plastic containing phthalates? It really looked like the federal agency was going to do its job to protect consumers, didn’t it? Well, now CPSC has apparently decided to allow this hazardous petroleum-based product (read: Big Oil-approved) to stay on the shelves indefinitely. Phthalates are used in many soft plastic toys, like teething rings, rubber duckies, and other products infants will put in their mouths.
Auto sales have plummeted. General Motors is on the verge of bankruptcy. The Detroit auto industry, which was once the symbol of American industrial success, is now depending on a Congressional bailout to save it from collapse.
And yet, Congress, which scrambled to pass a $700 billion Wall Street bailout, can not agree on legislation that would both save auto makers such as GM and provide guidelines to ensure the future success of the American automotive industry.
What happens if Congress can’t agree on an auto industry bailout? The Center for Automotive Research (CAR) estimates that a GM bankruptcy filing would result in the initial loss of approximately 2.5 million jobs, according to the Washington Post.