U.S. PIRG has graded Senators on their votes on financial reform. Click here to find out how yours stack up!
From their press release:
“Looking at how a Senator votes on one final passage vote isn’t enough,” said Ed Mierzwinski, Consumer Program Director for U.S. PIRG. “The Senate spent weeks taking critical votes on whether to improve the bill for Main Street, or, at the behest of powerful Wall Street lobbyists, to eviscerate reforms. Our scorecard examines important votes for consumers and taxpayers.”
The legislation must now be reconciled with a similar bill approved by the House in December. For example, both bills include an independent consumer agency, and while the House bill would carve out car dealers from its oversight, the Senate bill would subject the agency to “paralysis-by-analysis” requirements. The Senate bill’s reforms of the derivatives markets are stronger, but Wall Street lobbyists are lined up to weaken them.
“We will urge the House and Senate conference committee to take the strongest reforms from each bill, so that Main Street consumers who have lost millions of jobs and trillions of dollars in home equity and retirement savings will be protected from future meltdowns caused by greedy Wall Street bankers,” concluded Mierzwinski.