Category Archives: Congressional Testimony

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Wall Street Journal: When Greed is Not Good

Wall Street has quickly rediscovered the virtues of mammoth paychecks. Why hasn’t there been more financial reform? By ALAN S. BLINDER I hear Gordon Gekko is making a comeback. So is greed. They say markets are alternately ruled by greed and fear. Well, our panic-stricken

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CNBC: Bonus Watch

Banks are bracing for outrage, not just from the public but from their employees as well. Dan Pedrotty of the AFL-CIO shares insight in this video.

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What Caused the Crisis at AIG?

US Taxpayers spent $180 billion to bail out AIG – and bought an 80% stake in the company in the process.  Sign the open letter to AIG here! As taxpayers and majority shareholders in AIG, we ask that you immediately release all emails, internal accounting

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Bill Moyers Discussion on Financial Reform with AFR’s Heather Booth

The power of the people. Earlier this fall, the JOURNAL traveled to Chicago to check in with protestors outside the American Banking Association’s annual convention. This week, Bill Moyers spoke with veteran organizers Heather Booth, director of Americans for Financial Reform, and George Goehl, executive

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Testimony of Robert A. Johnson before the Senate Agriculture Committee

Download this testimony as a PDF. Chairman Lincoln, Ranking Member Chambliss, and Members of the Committee, thank you for inviting me to testify before you today. The American people clearly sense that there is something deeply flawed in the current structure of our financial markets

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Derivatives One-Pager

Support Strong Derivatives Regulation Congress cannot protect the U.S. financial system without acting to regulate over-the-counter derivatives, which brought down AIG at a cost of $134 billion to taxpayers. The five biggest banks dominate the derivatives market and want to maintain the status quo, since