Attached is a page of examples of leveraged buyouts by hedge funds or private equity firms that have resulted in job losses around the country. In many cases, despite job losses, these deals resulted in huge profits for the investors. Recently, economists have begun registering
May 11, 2010 The Honorable Christopher Dodd The Honorable Richard C. Shelby Dear Chairman Dodd and Senator Shelby, On behalf of the Independent Community Bankers of America and its nearly 5,000 member banks, I write to oppose Sen. Brownback’s amendments SA 3789 and SA 3790
Congress is considering creating a Consumer Financial Protection Bureau (CFPB) whose sole mission would be to protect consumers from dangerous financial products and practices. (The CFPB has also been referred to as the Consumer Financial Protection Agency (CFPA).) Why do we need a CFPA? What would it
May 10, 2010 The Honorable Christopher Dodd Chairman Committee on Banking, Housing and Urban Affairs United States Senate Washington, DC 20510 The Honorable Richard Shelby Ranking Member Committee on Banking, Housing and Urban Affairs United States Senate Washington, DC 20510 Dear Chairman Dodd and Ranking
The financial-industry spent $465 million lobbying in Washington in 2009, which was about $8 million more than in 2008. (The Hill, 2/23/10; Center for Responsive Politics) That’s $1.4 million a day spent on lobbying in 2009 and $1 million per member of Congress. The top
Around the country, people are standing up to the big banks by moving their money out of institutions that are fighting against financial reform. A recent action in Missouri was documented in the Huffington Post: A St. Louis union dumped Bank of America on Friday
Oppose Chambliss Amendment #3816 to Senate bill 3217 which attempts to weaken proposed derivatives regulations Dear Senator: The over 250 consumer, employee, investor, community and civil rights groups who are members of Americans for Financial Reform (AFR) write to express strong opposition to Amendment No.
Consumers and advocates rallied in Boston today in front of Goldman Sachs on the day of the company’s annual shareholder meeting to send a message loud and clear: we want financial reform now. A variety of groups were represented in the crowd, including Jobs with
This information is courtesy of the Center for Responsible Lending. Issue: The Senate financial reform bill, S. 3217 – section 1044, gives the Office of the Comptroller of the Currency far too much power to override (“preempt”) state consumer protection laws. To avoid another financial
Read the full editorial here. It’s a springtime sales event for America’s auto dealers. Over the next week or so, they’ll toil feverishly to close deals — not with car buyers, but with members of the Senate in an effort get dealerships exempted from consumer protections