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Articles tagged with: deregulation

AFR Report: The Same Old Song – Wall Street’s repeatedly discredited but endlessly repeated arguments against common-sense financial regulation
October 13, 2017 – 3:42 pm

A look back at the financial lobby’s robotic opposition to one proposed reform after another, and how Wall Street’s claims have squared with real-world events. This new AFR report homes in on three pre-financial-crisis case studies, involving credit cards, mortgages, and derivatives.

AFR in the News: Trump administration calls for rollback of financial regulations (Washington Post)
October 9, 2017 – 9:23 pm

“Marcus Stanley, policy director for Americans for Financial Reform, expressed concern about the report’s guidance. ‘The recommendations are “almost uniformly deregulatory.’ he said. ‘It is written pretty technically, but what they are saying is that a lot of things that were done after the crisis to try increase our safety margins and improve our risk control on derivatives they want to cut back on.’”

AFR Statement: Quarles represents failed policies of the past
July 12, 2017 – 5:30 pm

“Mr. Quarles was part of the regulatory team at the Bush Treasury Department that missed the oncoming 2008 financial crisis and failed to take any effective action to stop that crisis. [He] did not take action or speak up against Wall Street excesses in advance of the 2008 crisis. Since the crisis he has made his opposition clear to strong regulatory action to prevent the re-emergence of the same risks in the future… The American people need and deserve better in this critical post.”

Letter to Congress: AFR opposes Neomi Rao’s confirmation as Administrator of OIRA
June 20, 2017 – 5:58 pm

“Americans for Financial Reform opposes the confirmation of Neomi Rao as Administrator of the Office of Information and Regulatory Affairs (OIRA). Professor Rao’s announced views demonstrate an extreme disregard for the independence of financial regulatory agencies and an unwarranted hostility to critical financial protections.”

Letter to Congress: Don’t Deregulate Wall Street: Oppose HR 5, HR 78, and HR 238
January 11, 2017 – 4:51 pm

“HR 5 (the Regulatory Accountability Act), HR 78 (the SEC Regulatory Accountability Act), and HR 238 (the Commodity End User Relief Act) — would severely damage the capacity of the Federal government to protect the public. This legislation would disastrously weaken oversight of major Wall Street institutions and financial markets. Proper oversight of big banks and financial markets is crucial to the economic well-being of workers, families, and communities …The 2008 financial crisis demonstrated beyond doubt that the well-being of America’s working families is dependent on strong and effective regulation of Wall Street financial markets. These three pieces of legislation would cripple the capacity to properly regulate such markets. We urge you to reject all three.”