IF YOU HAVE A BANK ACCOUNT OR IF YOU HAVE ACCESS TO BANKING
IF YOU WANTED TO BANK YOU MIGHT BE SURPRISED TO FIND OUT
THAT FOR MANY AMERICANS THEY DON'T HAVE ACCESS TO THAT.
IT CAN BE A FINANCIALLY CRIPPLING BURDEN TO NOT BE ABLE
TO ACTUALLY GO TO A BANK, OPTIONS YOU HAVE TO TURN TO
OUR INCREDIBLY COSTLY.
THEY SPEND A LOT OF LOBBYING MONEY TO KEEP IT THAT WAY.
BUT THERE ARE SOME IDEAS THAT COULD FIX THIS PROBLEM.
SEN.
KRISTIN GILLIBRAND HAS A PROPOSAL THAT WAS RELEASED TODAY
THAT FOLLOWS SOME THINKING THAT COULD POSSIBLY FIX A PROBLEM.
YOU WOULD
BE ADDING ON EXISTING SERVICES TO A VERY
AVAILABLE SERVICE.
AND IN PARTICULAR THE UN-BANKED RATE ñ WHILE THIS WOULD HELP
MANY AMERICANS, IT COULD ACTUALLY BE MORE HELPFUL.
BERNIE SANDERS HAS BEEN PROPOSING SOMETHING LIKE
THIS FOR YEARS.
HE WAS ON VICE A WEEK AGO.
>> I'M GOING TO GIVE YOU A COUPLE MORE NUMBERS AND TELL YOU
THAT THE NUMBERS IS $375.
BY THE TIME THEY PAY BACK, THEY HAVE $520
IN INTEREST AND FEES ON TOP OF THE 375 THEY HAVE TO RETURN.
THAT IS BACKBREAKING.
ANNUAL INCOME IS 25,000 ñ THEY SPEND NEARLY 10%
ON THEIR INCOME ON JUST PAYING BACK MONEY.
IN THIS CASE INSTEAD OF PAYING HUNDREDS OF PERCENTAGES IN
INTEREST THAT THEY GET, WHICH IS UNBELIEVABLE, USED TO BECAUSE
LOANSHARKING, NOT THE POST OFFICE IF THEY DO IT THERE IT
WOULD BE A LITTLE ABOVE 2%.
DO YOU HAVE ANY IDEA WHAT KIND OF MONEY THAT WOULD SAVE?
IT COULD CHANGE THEIR LIVES.
INSTEAD OF LOSING 10% OF THEIR INCOME TO PAYING BACK INTEREST
AND FEES TO PAY A REASONABLE INTEREST.
LOOK AT ALL THE SENATORS COMPETING HAVING MORE AND MORE
PROGRESSIVE POLICY POSITIONS.
REMIND ME AGAIN WHO WAS GOING TO WIN THE PRIMARIES?
THE IDEA WAS
THAT THE ESTABLISHMENT WILL REASSERT ITSELF AND THE VOTERS
OF THE DEMOCRATIC PARTY ARE NOT REALLY THAT PROGRESSIVE,
REMEMBER HILLARY CLINTON ALSO WANTED CORPORATE TAX CUTS.
THE IDEA IS THAT THAT IS WHAT DEMOCRATS WANT.
THAT IDEA HAS BEEN DEFEATED.
IT DOESN'T MEAN THEY ARE NOT GOING TO DO IT ONCE THEY
GET INTO OFFICE.
I AM NOT NAœVE BUT RIGHT NOW EVERYONE WHO WAS THINKING OF
RUNNING FOR PRESIDENT, THEY ARE ALL COMPETING TO BE MORE
PROGRESSIVE.
>>YEARS OUT FROM THE PRIMARY.
>> SO IT TURNS OUT THE VOTERS DID WANT A PROGRESSIVE SO THE
ESTABLISHMENT WAS WRONG AND ONCE AGAIN WE WERE RIGHT.
IF WE WERE NOT RIGHT DO YOU THINK GILLIBRAND BOOKER WOULD
BE RUSHING TO THE LEFT?
THE REASON WHY I THINK THE STORY IS SO MUCH A WATERSHED MOMENT IS
BECAUSE THIS IS NOT FAKE PROGRESSIVE, THIS IS ACTUAL
PROGRESSIVE.
WHY DON'T I PASS SOMETHING THAT IS POPULAR?
IT
WILL HELP ME GET ELECTED AND BE GOOD FOR MY CONSTITUENTS.
>>SO YOU HAVE UNPOPULAR VIEWS SO WE NEED CORPORATE MONEY TO RUN
ADS TO FOOL PEOPLE TO GETTING YOU INTO OFFICE.
WHY DON'T YOU DO WHAT PEOPLE WANT THEN YOU DON'T NEED THE
MONEY AT ALL?
>> SO THIS ISñ I BELIEVE THIS IS
NOT JUST PRETENDING ANYMORE.
WE HAVE REACHED A MOMENT WHERE THEY HAVE ACTUALLY BECOME
PROGRESSIVES.
THIS IS A GREAT BILL, SHE HAS HER NAME ON IT.
LET'S SAY GILLIBRAND GOES ALL THE WAY THROUGH AND RUNS FOR
PRESIDENT NOW SHE WOULD HAVE TO PROPOSE THIS, IT IS ONE OF
THEIR SIGNATURE PROPOSALS.
>>EITHER WAY WE WILL CONTINUE TO WATCH HER, IT IS OUR JOB.
>> OF COURSE WE WILL STAY ON THEM BUT ALSO CREDIT WHERE
CREDIT IS DUE.
IT TURNS OUT WE WERE RIGHT ABOUT THE VOTERS AND NOW HAVE TO COME
CATER TO YOU, WHICH IS A GREAT PLACE
TO BE.
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