Campaigns

Keeping our nation’s economic future secure

The Challenge: The reckless behavior of the big banks that led to the recession had created traction for reform legislation to clean up Wall Street. But it wasn’t going to be easy. The big banks, who strongly opposed reform, were armed with millions of dollars and an army of lobbyists.  Sen. Dick Durbin once said of the banking industry’s control over Congress, “Frankly, they own the place.”

Our Approach: Fenton worked with Americans for Financial Reform (AFR), a coalition of more than 250 national and state organizations, to wage a national campaign take on the big banks and push for meaningful reforms. Our strategic approach:

Go local: With healthcare reform, the wars in Iraq and Afghanistan, and the BP oil spill dominating national media coverage, we determined that breaking though in local markets was important to success. Fenton worked with AFR to develop individualized media strategies for targeted local media markets to create hometown pressure on key Congressional decision-makers.

Harness public outrage: When Wall Street handed out lavish bonuses in the thick of the recession, we seized the moment by unleashing an online and social media campaign that tapped into Americans’ outrage, directing their anger to push Congress for reform.

Break it down: Knowing that many Americans would struggle to understand the ins and outs of the largest reworking of the financial markets in over 40 years, Fenton worked with Funny or Die to create viral videos featuring stars including Will Ferrell, Jim Carrey, Chevy Chase, Dana Carvey, and Heidi Montag that made a complex issue funny and relevant in people’s everyday lives.

Progress, Accelerated: Nearly two years after the Big Banks took our economy to the edge of the abyss, Congress passed, and the President signed into law the most significant legislation to rein in Wall Street and the banking industry since the Great Depression. These reforms will bring transparency and accountability to Wall Street and protect consumers. Despite being outspent nearly 300-1 by the big banks, AFR, with Fenton’s help, was able to successfully work with Congress and the White House to pass this historic legislation.