“[T]he proposed Reg AT is long overdue. At the same time, however, the self-regulatory approach taken here falls far short of a clear set of limits on the most dangerous and predatory practices made possible by automated trading technology.”
“Again and again, activist hedge funds have used sneak attacks to accumulate large stakes in public companies and then cashed out quickly at the expense of workers, communities, and the long-term viability of the company itself. The Brokaw Act is a sensible and badly needed response to this problem. With the introduction of their bill, Senators Baldwin and Merkley have struck an important blow against the immediate-profits-at-all-costs mentality that has become such a huge obstacle to long-term investment in our country.”
In the audience at the House Financial Services Committee’s semi-annual CFPB review hearing this morning, you’ll see a delegation of community leaders and consumer advocates from around the country wearing lime-green t-shirts and signs that say, “The CFPB Has Our Back.”
“Marcus Stanley, policy director of the public advocacy group Americans for Financial Reform, said that the shift toward taking a long view with executive compensation is anecdotal at best… ‘From our perspective there hasn’t really been a fundamental change,’ Stanley said. ‘What we would want to see is something that moves closer to the old partnership model, where you stay genuinely at risk for a long period of time and where you’re just as sensitive to the downside… as the short-term upside incentives.'”
Marcus Stanley, policy director of Americans for Financial Reform, analyzes the role of Wall Street reform in the 2016 presidential contest. He also discusses President Obama’s remarks about the regulatory reforms adopted since the 2008 financial crisis.
“We are deeply concerned by the slow pace and small number of discharges that have been processed and that many of the Department’s proposals in the current negotiated rulemaking process move in the wrong direction, reducing eligibility for relief, pitting students against schools, and creating unnecessary burdens on students and the Department.”
“‘The credit-rating agencies got away so easy, given what they did,’ said Marcus Stanley, policy director at Americans for Financial Reform, a nonpartisan coalition in favor of stronger Wall Street regulation. ‘The happy days are here again. There’s not really been an interruption of the profit flow.'”
“Community Banks Have Returned to Profitability: The percentage of community banks that are profitable has increased every year since 2009. For the year 2015, over 95% of the nation’s 5,880 community banks showed a profit. This is up from 78% in 2010, the year Dodd-Frank passed.”
“‘This is one more reminder that it is crucial that people who lead these agencies are people strongly committed to reform and who will be as aggressive as they need to be despite pressure from the other side to slow down or weaken rules,’ said [AFR executive director Lisa] Donner.”
“Nearly six years after Dodd Frank’s enactment, key oversight agencies (including the Securities and Exchange Commission, and the Commodity Futures Trading Commission) have still not completed crucial rules mandated by the law. These include measures deeply related to the causes of the financial crisis…”