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by Mike Lux · Feb 19, 2010 · ECONOMIC JUSTICERead More »
Mike Lux is part of Change.org's Changemakers network, comprised of leading voices for social change. He is the co-founder and President of Progressive Strategies.
Two organizations I helped co-found and sit on the board of, Americans United for Change and American Family Voices, have launched a new ad campaign today going after Wall Street on the issue of unregulated derivatives.
I have been delighted to see how much attention it's getting -- from Sam Stein at HuffPost, from the Washington Post's The Plum Line, from Ben Smith at Politico, from ABC News' The Note, among other places. The story — of Wall Street traders placing "bets on bets on bets", as our ad puts it, in almost completely unregulated markets — is at the heart of the worldwide economic collapse of the last two years. The big banks on Wall Street made tens of billions of dollars on these derivative bets, and their recklessness caused millions of workers to lose their jobs and millions of homeowners to lose their homes. And they've done so with virtually no negative consequences for their own outrageous behavior.
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AUTHOR BIOGRAPHY
Mike Lux
Mike Lux is the co-founder and President of Progressive Strategies. Since starting the company, Mike has launched a number of important projects, including American Family Voices, an issue advocacy group working on pocketbook issues for American families; and the Progressive Donor Network, which works to coordinate a network of individual donors, issue advocacy groups, and top flight political consultants and strategists.
Mike's recent projects have garnered a considerable amount of media coverage in The Washington Post, New York Times, Wall Street Journal, Business Week, National Journal, The New Republic and Miami Herald, and have provoked numerous attacks by Rush Limbaugh and other right wing media figures, as well as an "expose" by William Buckley's National Review Magazine.