Senators Menendez, Jack Reed (D-RI), Bob Casey (D-PA) and Jeff Merkley (D-OR) discuss the need for strong consumer protections in Wall Street accountability legislation. They opposed an amendment that protects Wall Street more than Main Street and would allow big banks to escape many of the new rules.
As the Gulf Coast braces for the environmental and economic damage that the massive oil spill in April, Senator Menendez along with Senators Frank Lautenberg (D-NJ) and Bill Nelson (D-FL), discuss legislation introduced to ensure that oil companies are not allowed off the hook when it comes to paying for economic damages as a result of spills. Menendez’s Big Oil Bailout Prevention Act would raise the liability cap from $75 million to $10 billion.
Senator Robert Menendez is joined by the National Latino Children’s Institute (NLCI) and Hispanic youth from around the country to commemorate "El Día de los Niños" --Celebrating Our Youth-- which is observed on April 30. To recognize this special day, Senators Menendez, Orrin Hatch (R-UT), and Bob Casey (D-PA) also introduced a resolution to mark the celebration and declare it a national holiday. During the event, Menendez highlighted the importance of giving children the tools they need to be successful, including quality early education, adequate health care and proper nutrition. After concluding his remarks, Senator Menendez read a story to children from the DC area and was given an award by a student from New Jersey for his work on behalf of our nation’s youth.
Senators Menendez and Jack Reed are joined Jim Guest, President and CEO of Consumers Union, and Gloria McAlpin, a victim of mortgage fraud, to discuss the importance of protecting consumers from risky behavior and excess on Wall Street. The Senators and consumer advocates also denounced the obstruction of debate on the legislation to reform Wall Street and protect American consumers.
U.S. Senator Robert Menendez (D-NJ) is joined by Rev. Jesse Jackson and other major labor and civil rights leaders to introduce the Protect Our Workers from Exploitation and Retaliation (POWER) Act, which aims to improve workers’ rights across the board by protecting those at the bottom of the ladder. Cosponsored by Sen. Kirsten Gillibrand (D-NY), this legislation would offer protections for whistleblower workers who expose workplace abuses by their employers. Joining Senator Menendez and Reverend Jackson were Daniel Castellanos, of the Alliance of Guestworkers for Dignity; Arturo Rodriguez, president, United Farm Workers of America; and Marielena Hincapié, executive director of the National Immigration Law Center.
At the U.S. Senate begins to debate Wall Street reform legislation, Senator Menendez and consumer groups tout the need of an "Orderly Liquidation Fund" pre-paid by "too big to fail" banks to prevent the need for future taxpayer bailouts.