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Leading in Primary by 38 Points, Platner Takes Aim at Collins' Wall Street Cash and Iran War Support
"We need to defeat Susan Collins," said the Senate candidate. "That work can’t wait until June."
Apr 01, 2026
As Maine's US Senate primary draws near, Democratic Gov. Janet Mills has gone negative—focusing on online posts that her rival, political newcomer Graham Platner, wrote more than a decade ago.
But with poll after poll showing Platner beating the governor by double digits—and with the gap getting larger with each attack ad Mills releases—Platner this week turned his attention away from the primary race altogether, releasing an ad focusing on Republican Sen. Susan Collins, whom the Democrats are hoping to unseat next November.
In a one-minute ad released online Tuesday evening, Platner is seen in black and white at one of the many rallies he's held across Maine since launching his campaign last August, where he's spoken in support of Medicare for All, condemned President Donald Trump's mass deportation campaign and war in Iran, and spoken out against oligarchy.
Collins, Platner tells the audience in the ad, "is the epitome of the establishment politician who serves the donors and serves herself, who is cynical and duplicitous, who's willing to say one thing and do another."
"We had to shed her from our politics. Quite frankly, we have to shed all the people like her," Platner continues as a musician plays the labor movement anthem, "Which Side Are You On?"
We need to defeat Susan Collins. That work can’t wait until June. So we plan to make clear to Mainers starting today: Susan Collins is not on our side.
Every dollar you donate to the ActBlue link in the reply will go directly behind this ad, to taking back this Senate seat. pic.twitter.com/djyuwSHfiI
— Graham Platner for Senate (@grahamformaine) March 31, 2026
While Platner addresses the crowd, text appears on screen:
"Collins raked in Wall Street cash before advancing Trump tax bill," it reads at one point, referring to the $2 million donation Blackstone CEO Steve Schwarzman gave to the senator's super political action committee (PAC) one day before she voted to advance President Donald Trump's One Big Beautiful Bill Act, which contained tax cuts for the rich as it slashed public programs like Medicaid and federal food assistance.
"Collins accepts thousands from insurers while health costs soar," the text continues, citing a Maine Beacon article about $120,000 in campaign donations from PACs associated with for-profit health insurance companies—"the same companies now raising premiums on Mainers by as much as 23% in 2026."
"Collins expresses support for Trump's war in Iran," the text reads at another point, regarding the senator's comment last month that Trump has "inherent abilities as commander-in-chief to react" to what he claimed was a threat posed by Iran when he began attacking the country along with Israel.
A poll released by The Associated Press-NORC Center for Public Affairs Research last week showed nearly 6-in-10 Americans say the war has gone too far. Fifty-six percent of respondents to a Data for Progress survey last month said the war would benefit Israel more than the US, and this week two polls found a majority of Jewish Americans oppose the war.
"We need to defeat Susan Collins. That work can’t wait until June," said Platner on Tuesday, referring to the June 9 primary. "So we plan to make clear to Mainers starting today: Susan Collins is not on our side."
The ad was released as the latest polling from Impact Research found 66% of likely Democratic primary voters backing Platner, with just 28% supporting the governor.
That poll bolsters other recent surveys that have found Platner with a commanding lead, including at least one other that was taken after Mills launched her first negative ad against her opponent. A second ad was released days later, focusing on the same subject matter: comments Platner made on Reddit in 2013 about sexual assault survivors, which the candidate has said don't represent his current views.
"Janet Mills going negative backfired," said Ryan Grim of Drop Site News, "which doesn’t bode well for Collins either."
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New Trump Rule Would Let Private Equity, Crypto ‘Endanger Retirement Savings of Millions'
“This isn’t about advancing the interests of retirement savers, it is about opening a new profit center for crypto and Wall Street," said one critic.
Mar 31, 2026
US President Donald Trump's Labor Department on Monday unveiled a proposal that would welcome private equity and cryptocurrency investments into Americans' 401(k) plans, the culmination of an aggressive Wall Street lobbying push that could leave the retirement savings of millions vulnerable to the wild swings of so-called "alternative assets."
The proposed rule, now subject to a public comment period, was issued at the direction of a Trump executive order from last year that was characterized at the time as "the holy grail for private equity."
In addition to giving employers a green light to include private equity and crypto investments in 401(k) plans offered to workers, the new rule would establish a "safe harbor" allowing retirement account administrators to avoid legal action from employees who believe their funds were steered into excessively risky products.
"The legal immunity created by this safe harbor will incentivize financial advisers to pitch these toxic products, which will become ticking time bombs in tens of millions of retirement accounts, which will no doubt result in significant losses," warned Benjamin Schiffrin, director of securities policy at the advocacy group Better Markets. "There are good reasons why 401(k) plans have been considered closed to private markets and cryptocurrencies, and those reasons have not changed. The only thing that has changed is the administration’s support for these industries and regulators’ willingness to do their bidding."
"This is no reason to endanger the retirement savings of millions of Americans," Schiffrin added.
Oscar Valdés Viera, senior policy analyst at Americans for Financial Reform, similarly warned that "opening 401(k)s to these products risks turning workers’ retirement savings into a Ponzi-like scheme that throws a lifeline to an industry scrambling for fresh cash."
"This isn’t about advancing the interests of retirement savers, it is about opening a new profit center for crypto and Wall Street," said Viera. "Retirement savers should not be bailing out these high-risk industries and subsidizing the Wall Street and crypto billionaire class."
"Private equity firms should not get a free pass to loot workers’ 401(k) retirement savings."
Americans currently hold over $10 trillion combined in 401(k) plans, a huge trove of wealth that the private equity industry has been working for years to access. The Labor Department indicated that its proposed rule would apply to over 720,000 retirement plans covering roughly 118 million workers.
The American Prospect reported Tuesday that the managers of private equity firms are "already pressuring companies, third-party administrators, and the consultants who advise them to list their offerings" among workers' retirement plan options.
"One staffer at an institutional investor who is not authorized to speak to the media told the Prospect about their primary worry: that private equity will stick their most overvalued companies into continuation funds exclusively for 401(k) plan holders, or 'retail investors,' as they are known," the outlet continued. "Private credit firms are retailoring their funds for 401(k) plans as well, and some of the biggest have already struck deals with asset managers like Voya and Vanguard. 'I’d be shocked if the industry doesn’t attempt to dump their garbage onto retail,' the staffer said."
One recent analysis by the Private Equity Stakeholder Project (PESP) found that private equity funds for retail investors "dramatically underperformed publicly listed stock indexes" in 2025 while charging much higher fees.
Jim Baker, PESP's executive director, said Monday that "private equity firms should not get a free pass to loot workers’ 401(k) retirement savings."
“The bar for including private equity in 401(k)s should be extremely high,” said Baker. “Private equity funds have lagged public markets while charging much higher fees, and public pension funds are pulling back from the asset class. Instead, this rule risks shifting more financial risk onto workers who rely on their retirement savings for long-term security.”
Sen. Elizabeth Warren (D-Mass.) also ripped the Labor Department rule, saying in a statement that "Americans facing an uncertain future in Trump’s economy will now have more reasons to question the security of their retirement savings—all so that Trump’s Wall Street buddies have another pile of cash to play with."
"Anyone who cares about the financial security of working people," said Warren, "should oppose this proposed rule."
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Trump Admin Readies Big Gift for Wall Street While Waging War, Gutting Aid Programs
“At a time of extreme and growing inequality," said one critic, "today’s proposals will drain lending away from Main Street families’ needs and priorities and further enrich the already wealthy on Wall Street."
Mar 19, 2026
The Trump administration and Federal Reserve unveiled proposals Thursday that would significantly reduce capital requirements for the largest banks in the United States, potentially setting the stage for another financial industry collapse as the US-Israeli war on Iran destabilizes the global economy and jacks up prices for consumers.
Under the new rules proposed by the Fed, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency, large banks would have to hold nearly 5% less capital on average. The advocacy organization Better Markets noted that the proposals—combined with other deregulatory actions taken by the Trump administration and the Fed over the past year—would return Wall Street banks' capital requirements "to the irresponsibly low 2007 levels they had just before the 2008 crash."
“At a time of extreme and growing inequality, when tens of millions of Americans are struggling to pay their bills, today’s proposals will drain lending away from Main Street families’ needs and priorities and further enrich the already wealthy on Wall Street and the top 10% of Americans they focus on serving," Dennis Kelleher, the president of Better Markets, said in a statement. "The banking agencies’ proposals to loosen capital rules are a victory for Wall Street lobbying, and claims to the contrary are nothing more than an attempt to mislead the American people."
Fed Gov. Michael Barr, who was nominated by former President Joe Biden, was the central bank board's lone dissenting voice against the new rules, a product of years of aggressive Wall Street lobbying for less stringent regulations in the wake of the Great Recession.
"Today's proposals, if adopted, would harm the resilience of banks and the US financial system," Barr warned in a statement. "There are suggestions that liquidity requirements could also be reduced. Additionally, Federal Reserve supervisory staff have been cut by over 30%, and supervisory practices have been weakened. Banking is built on trust. I worry greatly that these actions are rapidly eroding that trust."
The new deregulatory package, which will be subject to a 90-day public comment period before it's finalized, comes as President Donald Trump is waging an expensive and deadly war on Iran with no end in sight and attacking social programs at home, from Medicaid to nutrition assistance.
“With private credit markets cratering, AI transforming the workforce, and Trump’s Iran war threatening the world economy, we need healthy, resilient, well-capitalized banks," said Bartlett Naylor, an economist for the consumer advocacy group Public Citizen. "Lessons learned after millions lost their jobs, homes, and savings following the 2008 megabank crash must not be ignored."
"Trump’s bank regulators propose to tear at the already tissue-thin layer of solvency levels at the nation’s banks," said Naylor. "Lowering solvency standards won’t generate more loans; it will only send banks closer to failure."
Matt Stoller, an anti-monopoly researcher and author of the BIG newsletter, wrote that the juxtaposition of a quagmire in Iran, Wall Street deregulation, and millions of Americans losing health insurance "tells the story" of the Trump administration.
Today's WSJ front page tells the story of the Trump admin.
#1: Hegseth Says ‘No Time Set’ on Ending Operations in Iran
#2: U.S. Regulators Propose More Lenient Capital Rules for Big Banks
#3: Millions of Americans Are Going Uninsured Following Expiration of ACA Subsidies pic.twitter.com/26jKsQuNc4
— Matt Stoller (@matthewstoller) March 19, 2026
The effort to curb banks' capital requirements was spearheaded by Fed Vice Chair for Supervision Michelle Bowman, a Trump appointee whose nomination last year was criticized by watchdogs as a "gift to the banking industry."
Kelleher of Better Markets said Thursday that "such counterproductive, shortsighted, and wrongheaded rulemaking isn’t a surprise given that the interests of Wall Street’s biggest banks are driving the priorities at the banking agencies, rather than facts, merit, and the public interest."
"The worst is at the Federal Reserve, where the senior regulatory staff comes from Wall Street’s top DC lobbyist (the Bank Policy Institute), Goldman Sachs, and one of Wall Street’s top law firms (a former partner is now the director responsible for supervising and regulating his recent Wall Street clients)," Kelleher observed. "That’s why mindless deregulation, especially for the biggest Wall Street banks, is at the top of the agenda, just as it was in the years before the 2008 crash."
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