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Issue Position: For Stopping Deregulation and Privatization

Issue Position

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Issue Position: For Stopping Deregulation and Privatization

The present financial crisis has been fueled by the elimination of all financial regulatory measures, particularly by the repeal in 1999 of the Glass-Steagall Act (GSA), which in 1933, in the immediate aftermath of the Great Depression, had separated investment and commercial banking activities. The repeal of GSA -- which was demanded by the corporate elite -- was supported actively by Congresswoman Nancy Pelosi and other leaders of the Democratic Party.

The Federal Reserve System does not represent consumers, workers or the public. I support elected community-labor boards in which there will be accountability from those running our financial system.

The drive to privatize and contract out jobs is a threat to our workforce. It undermines standards -- including the merit system -- and has replaced them with nepotism and corruption. It has become a norm today for contractors to pay off Congresspeople to obtain contracts.

I oppose all privatization of federal jobs and will require that all funds disbursed by the federal government go only to government agencies, not to private contractors.

I support the U.S. Postal System and oppose all efforts to privatize it through contracting-out operations, including joint ventures with private corporations. I will support Congressional investigations, with managers and workers placed under oath, to examine the health and safety conditions in the USPS that have led to the "going postal" incidents across the country, including in San Francisco.

I support legislation making it illegal to force workers into jobs with independent contractors in which employers such as FedEx use the "independent contractor" status to prevent unionization and to transfer the costs of unemployment, social security and workers' compensation to the individual worker.

I also will investigate and eliminate the massive cost-shifting by the insurance industry of workers' compensation costs. Millions of injured workers are now forced to go on SSI and State Disability or to publicly funded hospitals, thereby shifting these costs to the state. I will initiate and organize Congressional hearings on these issues and put employers, insurance executives and workers under oath to expose and change these schemes. I also support criminal penalties for the conspiracies to shift such costs to the federal government.

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