In a little noted speech to his constituents in May, Paul Ryan decried the “crony capitalism” that he said, prompted the big bank bail-outs of 2008 (though he himself voted for the TARP, and he himself gets massive campaign contributions from big financial firms).
AFR’s Policy Director, Dr. Marcus Stanley, appeared on CNBC to discuss the benefits of regulation for consumers on CNBC.
Banks are finding it harder to fight proposed reforms of the $300 trillion U.S. privately traded derivatives market because of outrage over JPMorgan’s credit derivatives losses. By Karen Brettell NEW YORK | Mon Jul 16, 2012 Lobbying efforts continue, nonetheless, as many important rules have not been hammered out. The industry pushback against proposed regulations mandated under the
In New Rules to Shine Light on Derivatives, Regulators Also Allow Exemptions New York Times By Ben Protess July 10, 2012 The rules, stemming from the Dodd-Frank financial regulatory law, will give regulators more control over the $700 trillion derivatives industry, an opaque business that was blamed for many of the ills of the 2008 crisis.
AFR held a conference call briefing on the financial industry support for financial speculation taxes. Click here to see a summary of the discussion, read a letter from more than 50 financial professionals showing their support for the tax, and listen to the audio from the call.
JPMorgan Builds Vast Web of Staff, Financial Ties to Lawmakers American Banker By Kevin Wack JUN 12, 2012 Lisa Donner, executive director of Americans for Financial Reform, which is often on the opposite side of the policy debate from JPMorgan, nonetheless expressed an upbeat view about the likely tone of Wednesday’s hearing. “When we have these