YOUR CALL TO ACTION
Progressives have a long, proud history of winning battles and losing wars. Every progressive everywhere has said that to themself at least once: “I’m tired of being right. I want to win.”
We know what it takes to win and to achieve sustained structural and systemic progressive change: Organized Progressive Money. But we cannot do it without you and millions of other progressives like you. If you believe, as we do, that everybody to the left of the far right stands in varying degrees for inclusive prosperity, reality-based policies, a robust working class, equality of opportunity, and a dedication to make American all it was created to be, you are left struggling with one question: what does the far right have that progressives and left lack?
The conservative right owns and benefits from a global financial system that works for it, not against it.
That is why we are setting out to organize a broad progressive effort over the next 10 years. We believe our nation’s economy, political system, and culture are ready and receptive.
We are working to organize $1 trillion in ownership stakes in financial institutions that would comprise a new, progressive financial network—because a progressive vision without resources is a hallucination.
Our strategy is ambitious but not unrealistic. We know because we have been part of the historic efforts to raise well over $10 trillion already—now we are leading a strategy to organize it for progressive power and influence.
The Great Recession peeled back the lid on the black box of market fundamentalism, the distortion of capitalism into a destructive force for greed.
The conservative corporate business model is evolving gradually but undeniably toward inclusion, environmental care, and justice.
A new business model that incorporate financial and societal benefits has sprouted deep roots and expansive branches.
Our nation’s long history of public-purpose finance has proved its concept, while a more recent generation of financial innovation has built a track record in support of inclusive prosperity.
Socially motivated investors have built a multi-trillion-dollar investment model and are creating new strategies while progressive wealth is growing.
Progressive political winds are building, for three reasons:
Conservative political extremism represented by President Trump and the Tea Party
The shift of economic and financial risk spurred initially by President Reagan away from the wealthy and to the working majority, and
The pressing financial and economic burdens imposed on taxpayers by market fundamentalists who control the private-gain, public-risk model that is American finance.
ABOUT THE AUTHORS
Keith Mestrich is the president and CEO of Amalgamated Bank, the nation’s leading socially responsible bank. With twenty-five years of experience working in the labor movement and nonprofit organizations, Keith is a leader in the effort to build wealth for a purpose, not just for a profit. He is a noted social justice leader and popular speaker.
Mark A. Pinsky led the $150 billion community development financial institutions (CDFI) industry for more than 20 years. With a track record of aligning capital with social, economic, environmental, and political justice, he was the strategic leader for the industry’s growth from less than $2 billion to its current scale. He is the author and editor of several books and speaks regularly on finance and society. He lives in Philadelphia, Pennsylvania, where he runs Five/Four Advisors, a strategic consulting firm.