Marcus Stanley, AFR Policy Director, Testimony Before the Senate Banking Committee
AFR’s Policy Director, Marcus Stanley, testified before the Senate Banking Committee regarding capital formation and reducing small business burdens.
Category Archives: Congressional Testimony
Wallace Turbeville Testimony Before House Agriculture Committee Opposes Harmful Deregulation Bills
Wallace Turbeville, Senior Fellow at Demos and member of AFR, testified before the House Agriculture Committee voicing AFR’s opposition to legislation that would significantly alter the Dodd-Frank Act in ways that effectively deregulate the financial sector and work against the goals of a safer, more stable, and more fair and efficient financial system.
Why We Need a Financial Speculation Tax
A Financial Speculation Tax ( or Financial Transaction Tax) would be a tiny tax on Wall Street trading in stocks, bonds, foreign currency, derivatives, and other complex financial products.
Federal Reserve Letter to Capital One Financial Corp
Click here to view an August 29 letter from the Federal Reserve asking Capital One Financial Corp. where businesses overlap and what their market share is in these areas.
New York Times: What About the Raters?
Everyone (except Wall Street bankers) seems to be outraged about Wall Street banks, which made billions by trading complex confections of dicey mortgages and then passed us the tab when the investments went belly up. But what about the agencies that bestowed triple-A ratings on
Video: Wall Street Recklessness Cost 7 Million Americans Their Jobs
Wall Street CEOs legalized gambling through something called ‘derivatives,’ making bets on bets on bets. But when their luck ran out, it was our money they lost – our homes, our investments. Watch the ad below from AFR partners Americans United for Change and American
Mary Bottari: Goldman Accused of Rigging “Robin Hood Tax” Vote
Mary Bottari of BanksterUSA.org dissects Goldman Sachs’ actions in this column on the Huffington Post. Here is an excerpt: It’s really unbelievable. The way that Goldman Sachs keeps sticking its foot in it is simply unbelievable. Let’s not review their unbelievable bonus pool or their
“Robin Hood” Tax Could Raise $700 Billion
More than 50 charities are supporting a British campaign to levy a tax on transactions between financial institutions, which can be used to help fight poverty, protect public services and tackle climate change. The 0.05% “Robin Hood” tax on financial trades could raise $700bn for
Paul Volcker: How to Reform our Financial System
Paul Volcker, Chairman of the president’s Economic Recovery Advisory Board and former Federal Reserve Chairman, published this op-ed in the New York Times. Here are excerpts: The phrase “too big to fail” has entered into our everyday vocabulary. It carries the implication that really large,
Reuters: Derivative Reforms Key for US Recovery – Gensler
Reuters reports: Reforming the $450 trillion derivatives market is key to removing the risks of financial markets, and greater central clearing of privately traded derivatives is a vital part of that, the head of the Commodities Futures Trading Commission said on Friday. Central clearing, in