The Week in Review
Federal Reserve Chairman Ben Bernanke on Thursday told Sen. Bernie Sanders that he is willing to work with Congress on Sanders' bill to remove bank executives from regional Fed boards that regulate banks. Later Thursday, the most sweeping legislation ever to address the crisis in dental care in America was introduced by Sanders. And in an election on Tuesday with national ramifications,wealthy outsiders helped Wisconsin Gov. Scott Walker beat back a recall campaign. Sanders talked about those and other issues Friday on his weekly appearance on The Thom Hartmann Program.
Wisconsin Recall
Even The Wall Street Journal bluntly declared that the Wisconsin governor's victory "offers a vivid illustration of the power of money ... that Republicans hope will help them defeat President Obama." It is "scary stuff," Sanders said. "What we saw in Wisconsin can happen in any state throughout this country and in the presidential election. Billionaires like the Koch brothers and others are now prepared to spend unbelievable sums of money to elect extreme right- wing candidates. They and their friends have the ability to control the United States Congress, the White House. This is an incredible undermining of American democracy." What happened in Wisconsin underscored the need for a constitutional amendment to undo a Supreme Court ruling that opened the floodgates to unlimited and largely unregulated campaign spending by corporations and wealthy individuals. Listen to Sanders and radio host Ed Schultz analyze the Wisconsin election. Support the senator's Saving American Democracy amendment.
Bernie and Bernanke
Said Sanders: "The American people, I believe, perceive a conflict of interest when you have, among others, the head of the largest financial institution in America sitting on the New York fed which is supposed to be regulating these financial institutions." Replied Bernanke: "The answer to your question is that Congress set this up. We have tried -- I think we've made it into something useful and valuable. We do get information from it. But if Congress wants to change it, you know, of course we will work with you to find alternatives." Watch.
Big Banks
Too-big-to-fail financial institutions like JPMorgan Chase, Citigroup, Bank of America, and Wells Fargo hold about $9 trillion in assets, or two-thirds of Gross Domestic Product of the United States, according to Sanders. "In my view, this economy does not get stronger if we continue to have the incredible concentration of ownership on Wall Street that we currently do ... We need more competition in the financial marketplace," Sanders told Chris Jansing on MSNBC. Watch.
Dental Crisis
Sanders' Senate bill and companion legislation in the House by Rep. Elijah Cummings would expand dental coverage through Medicare, Medicaid and the Department of Veterans Affairs. It also would support community health centers, mobile clinics and school clinics. "When we talk about the health care crisis in America we often ignore the fact that tens of millions of Americans are unable to access affordable dental care and they suffer as a result of that," Sanders told a news conference on Capitol Hill. Watch.
Social Security
As the founder of the Defending Social Security Caucus, Sanders brought seniors advocates together for a Thursday meeting with senators. As Republicans and some Democrats in Congress look for ways to cut spending, many have unfairly focused on Social Security. "This senator will not support that," Sanders said. "Social security is not contributing one nickel to our deficit."
Deficit Reduction
With the focus in Congress turning to the federal budget, Sanders has stressed that the main things that drove up deficits were the cost of wars in Iraq and Afghanistan, a pharmaceutical-industry-friendly prescription drug program that outlaws bargaining for better prices, and Bush-era tax breaks for the wealthy. The wealthy must do their share to lower deficits, Sanders told MSNBC's Chris Jansing on Thursday.
Gas Prices
Wall Street speculators were responsible for driving up crude oil prices that, in turn, artificially drove up gasoline prices this spring to a nationwide average of about $4 a gallon for regular unleaded. Under Gensler, the commission has failed to enforce a law requiring rules to be implemented by no later than January 17, 2011, to eliminate, prevent, or diminish excessive oil speculation. "In blatant disregard of the law, Chairman Gensler has allowed oil and gasoline prices to be dictated by Wall Street speculators instead of supply-and-demand fundamentals," Sanders wrote to the president. Read the letter.
Paycheck Fairness
Senate Republicans on Tuesday blocked consideration a bill that called for equal pay for equal work and would have lowered legal hurdles to lawsuits by women. "At a time when women make an average of 77 cents for every dollar earned by men, I am disappointed that every Republican in the Senate voted to filibuster the Paycheck Fairness Act. This is a struggle that has gone on for decades. We have made some progress, but today's vote is another reminder that we have a long way to go."
Race to the Top
Sanders on Wednesday told U.S. Education Secretary Arne Duncan that it is unacceptable to exclude Vermont and many other rural states from a major federal grant program. Overall, more than half of all states have not received "Race to the Top" funds. Sanders was pleased to hear from Duncan that there will be a special "carve out" for rural states in a new, $350 million round of funding for "Race to the Top."

