Inland Empire Progressive

Rep. Gary Miller likes to go on and on about the full repeal of the Frank-Dodd act, but offers no substitute legislation to regulate Wall Street and hold them accountable. Like many of his Conservative allies, he probably believes it was all the regulator's fault by not being competent enough to understand what was going on. But what Conservatives fail to point out is the revolving door between regulators and Wall Street and that financial institution shop for the most lenient regulator. I think the reality is that Mr. Miller does not want to bite the hand that feeds him. Wall Street and the financial industry are big contributors to his campaign coffers and any sense of holding them accountable for misdeeds is thrown out the window. The most glaring fact is that to date, not one financial executive has been arrested our charged with fraud and sent to jail. You would think that someone would be held responsible for the Global Collaspe of the enconomy. It would seem as if legisl...

Contributor Name Amount AMERICAN BANKERS ASSOCIATION $2,500 BANK OF AMERICA CORPORATION PAC $5,000 JPMORGAN CHASE & CO. FEDERAL PAC $4,000 THE GOLDMAN SACHS GROUP, INC. PAC $5,000 An overview of Rep. Gary Miller’s financial records has shown that some of the Too Big Too Fail (TBTF) Banks have backed him to the maximum extent possible. These banks have made it known that they oppose the weak Frank-Dodd regulator framework or any legislation that will will make the financial sector more stable and secure.  While Rep. Gary Miller supports minimal transparency requirements of Wall St. He will not have the TBTF banks submit to the rule of law. Why does Rep. Gary Miller supports strict financial discipline on backs of poor in the district while letting wealthy banksters do as they please? Yet, he and other Conservatives claim there is no class warfare going on. Please... I ask the residents of the 31st Congressional District this: How many banksters went to jail for...

  For all the innovation over the last three decades of the financial system, we still cannot have mechanisms for the poor to be apart of the banking system. Kiva the micro lending/crowd source model has yet to catch on here in the Inland Empire. Most of the folks here would rather use alternative banking systems such as payday loans, title loans, pawn shops, etc. to take care of their banking needs. I cannot walk at least two blocks without seeing a payday loan provider. The most popular one in San Bernardino is Speedy Cash. That place is always packed. I have used alternative banking on occasion to buy food or take care of expenses.  For the most part, I would try to use overdrafts in my checking account rather than take out a payday loan because overdraft fees are held at a constant no matter how much you take out. What I find funny is that I make a decent income, around 32K a year (not including benefits) and still struggle.