Creative Extraction: How Wall Street Banks are Extracting Resources from Main Street

Creative Extraction: How Wall Street Banks are Extracting Resources from Main Street

Session Type(s): Panel

Starts: Friday, Jun. 21 6:00 PM (Eastern)

Ends: Friday, Jun. 21 7:15 PM (Eastern)

This panel will examine how Wall Street turned away from their historical role of making productive investments in the economy to creating sophisticated instruments that extract increasingly from the real economy—touching on the housing crisis and the big banks’ role in controlling state and municipal finances is crippling the economy. We’ll also discuss remedies to these problems.

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Christina Livingston


Christina Livingston is the Executive Director of ACCE and the ACCE Institute. She began her organizing career in 2004 as a field organizer for Los Angeles ACORN. There she worked with community members in South LA, developing leaders and organizing campaigns to improve community conditions. She later became the Field Director for California ACORN. As Field Director Christina directly managed operations in 4 cities, and helped coordinate state issue and policy campaigns.

In 2010 Christina, along with former ACORN staff and leaders started ACCE and later the ACCE Institute where she worked for 2 years as Deputy Director before becoming Executive Director. Her work during those years focused heavily on coordinating and advancing the revenue and banking accountability campaigns.

Christina graduated from the University of California, Berkeley in 2004 with a B.A. in Sociology. In 2008 she received her M.A. in Sociology from California State University, Los Angeles.

Other sessions: The California Comeback: How Progressives Stopped California’s Decline

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Mike Lux

Mike Lux is the co-founder of Democracy Partners, a consulting firm whose mission is building the progressive movement. Mike is a frequent blogger on Huffpo, DailyKos, and Crooks and Liars. He is the author of the book, “The Progressive Revolution: How the Best in America Came to Be.”

Mike currently serves on the boards of several organizations, including the Arca Foundation, Netroots Nation, Americans United for Change, and USAction. He also was a co-founder and a former board member of Ballot Initiative Strategy Center, Progressive Majority, Women’s Voices/Women Vote, and the Center for Progressive Leadership. He played a role in the early days of launching the Center for American Progress, Air America, America’s Voice, and From January 1993 to mid-1995, Mike served as a Special Assistant to the President in the Clinton White House, and has played a leadership role on five Presidential campaigns

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Wallace Tuberville


Wallace Turbeville practiced law for seven years before joining Goldman, Sachs & Co. in 1986 as an investment banker specialized in infrastructure finance.

In 1997, Mr. Turbeville founded the Kensington Group and later became CEO of VMAC LLC, providing management of derivatives credit exposures.

Mr. Turbeville left VMAC in late 2009 to devote his efforts to financial reform, energy and environmental policy issues, joining Demos in 2012. He was the primary author of dozens of comment letters relating to proposed rules and studies implementing the Dodd-Frank Act. He assisted Americans for Financial Reform in its efforts relating to the Volcker Rule and derivatives regulation. He has testified on financial reform issues before the Permanent Subcommittee on Investigations of the US Senate Committee on Homeland Security and Governmental Affairs and the House Financial Services Committee.

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