Friday, August 31, 2012

Woo-hoo! Wells Fargo dumps ALEC

Another corporation dropped its membership in ALEC, the secretive corporate cabal that writes much of the anti-middle-class legislation passed in state legislatures these days. Wells Fargo became the 39th (by our count) company to leave the group.

The Denver Business Journal reported on the bank's departure:
Wells Fargo & Co. (NYSE: WFC), the largest bank in metro Denver by deposits, ...(has) joined nearly 40 other companies that have cut ties to the group.
ALEC stands for "American Legislative Exchange Council." Here's what's "exchanged": lavish family vacations and access to deep-pocketed political donors on the one side. On the other side, pro-corporate-bills that hurt consumers, communities, workers and the environment. ALEC wrote Florida's "Stand Your Ground" law that sparked such outrage after the killing of Trayvon Martin.

Wells Fargo still has much to atone for. But dumping ALEC is a good start.

For more information about ALEC, go to