FOR IMMEDIATE RELEASE
July 15, 2010

CONTACT:
Tiffiniy Cheng 413-637-6255
Zephyr Teachout 802-922-1719

ANWF: The Finreg Bill Proves The Banks Proved the Banks Can be Beaten

Worcestor, MA – A New Way Forward, an online organization that has been fighting for structural reform for since March 2009, with over 24,000 members, released the following statement today:

Tiffiniy Cheng, Director, A New Way Forward: “The financial reform bill does not go far enough on structural reform, but its passage today shows that grassroots activists, and a small network of committed organizers, can make a difference in winning real reform.

All of the strong items in the bill — the derivatives chapter, the Fed audit and the leverage limits — were pushed into the debate by activists despite reservations from the people writing the bill. These are significant wins in their own right, but they also show that real financial reform is only possible if the public is organized and fighting.

This is the beginning of a long fight to restructure the economy, and to break up the biggest banks. We are proud of the extraordinary work done by every member of the Americans for Financial Reform coalition, and our own active members.”

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