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Morning Reads: Democrats Debate in Brooklyn Tonight; Fed Says Big Banks Still Too Big

A roundup of some of the stories we're reading at BillMoyers.com HQ...

Morning Reads: Democrats Debate in Brooklyn Tonight

Bernie Sanders supporters pose for a picture before a rally in New York on April 8,2016. (KENA BETANCUR/AFP/Getty Images)

New York debate –> Democrats Hillary Clinton and Bernie Sanders face off at the Brooklyn Navy Yard tonight. Clinton, former US senator from the state, leads the polls, but native New Yorker Sanders has been drawing big crowds to his rallies, including an estimated 27,000 last night in Manhattan’s Washington Square Park. At The New York Times, Alexander Burns offers some things to watch for. CNN coverage begins at 9 pm, ET.

Still too big –> Federal regulatory agencies, including the Federal Reserve and the FDIC, have “added an unexpected voice to the growing chorus of critics worried that the biggest American banks, nearly eight years after the financial crisis, are still too big to fail,” Nathaniel Popper and Peter Eavis write for The New York Times’ Dealbook. Emergency plans by JPMorgan Chase, Bank of America, Wells Fargo, State Street and Bank of New York Mellon would not hold up during another financial crisis, the regulators said, and would require the government to step in and again prop them up, as it did during the 2008 crisis.

Damning –> Don Babwin and Jason Kayser at the AP: “Police in Chicago have ‘no regard for the sanctity of life when it comes to people of color’ and have alienated blacks and Hispanics for decades by using excessive force and honoring a code of silence, a task force declared Wednesday in a report that seeks sweeping changes to the nation’s third-largest police force. The panel, established by Mayor Rahm Emanuel late last year in response to an outcry over police shootings, found that the department does little to weed out problem officers and routine encounters unnecessarily turn deadly.”

And, at FiveThirtyEight, Rob Arthur and Jeff Asher find that immediately after the Laquan McDonald shooting video was released, gun violence in Chicago spiked but arrests declined. “This suggests a decline in law enforcement activity that may be contributing to the rise in gun crime,” Arthur and Asher write. Business Insider’s Josh Barro suggests that the police were “effectively on strike but continuing to collect their paychecks.”

“Major changes in the earth’s atmosphere” –> More evidence has surfaced that the fossil fuel industry knew about the possible impact its products had on the climate decades before the public was aware of global warming. The latest document, an American Petroleum Institute report, dates from 1968, and suggests, accurately, “If CO2 levels continue to rise at present rates, it is likely that noticeable increases in temperature could occur… Changes in temperature on the world-wide scale could cause major changes in the earth’s atmosphere over the next several hundred years including change in the polar ice caps.” Melissa Cronin writes it up for Grist.

Bucking the trend –> Unlike its neighbors, Louisiana distinguished itself from other southern states yesterday when its recently elected Democratic governor, John Bel Edwards, signed an executive order protecting state employees from discrimination based on race, religion, disability, age or sexual orientation. Daniel Trotta reports for Reuters. By contrast, North Carolina and Mississippi recently put in place laws protecting those who discriminate against LGBT individuals.

Coming around –> Ken Vogel and Eli Stokols at Politico: “Karl Rove has publicly blasted Donald Trump as ‘a petty man consumed by resentment and bitterness,’ with little gravitas and almost no chance of beating Hillary Clinton. But privately, Rove’s super PAC is suggesting to its donors that it can help Trump win the White House and at the same time save Republican senators whose reelection bids may be jeopardized with Trump at the top of the ticket.”

Adam Smith of the campaign finance reform group Every Voice suggests a hashtag Rove could use: #EventuallyTrump.

Dead air –> The Democracy Awakening protests in Washington, DC — marching and demonstrating to reduce the influence of money in politics and support voting rights — have drawn thousands, resulted in several hundred arrests, and will continue through the weekend. Yet they’ve garnered little coverage from cable news media. Lee Fang and Zaid Jilani at The Intercept see a conflict of interest: Cable news is raking in huge sums as the dark money groups targeted by the activists buy up ad time. “Elizabeth Wilner, senior vice president at Kantar, a media analysis firm, estimated that $4.4 billion would be spent on television ads during the election cycle this year. Network executives have hardly been shy about celebrating the cash windfall, most notably CBS chief Les Moonves.”

Very helpful –> The Onion provides a list of “some pros and cons of voter ID laws.” Pro: “Nationwide surge in ID demand could create up to four new jobs at DMV.” Con: “Doesn’t completely eliminate possibility of undesirable populations… voting.”

Morning Reads was written by John Light and edited by Michael Winship. See a story that you think should be included in Morning Reads? Tell us in the comments!


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