The following statement was issued by Professor Elizabeth Warren on July 2, 2010. Statement on House-Senate Conference Committee Report “It has been more than 20 months since the largest financial crisis since the Great Depression, and we are still living under the same set of rules we had in place before the meltdown. Thanks to
As with the other provisions of the Wall Street reform bill, there were wins, losses, and some compromises in the process of ironing out the final details of investor protection reform. Here is how the final Wall Street reform bill addresses investor protection. What We Won, What We Lost Fiduciary Duty We won: The SEC
For details on the outcomes of certain issue areas, follow the links at the bottom of this page. Nearly two years after Wall Street crashed our economy, and after a year of work, the House and Senate are finally ready to vote on a comprehensive package of Wall Street reforms. When we began this effort
In a landmark win for Main Street, the financial reform bill will result in substantial new protections for consumers from the tricks and traps in personal financing that indirectly and otherwise led to the financial crisis. The resulting Bureau has the independence and authority it needs to get the job done. Whatever compromises were made
Under current law, there is no single body designated to look at the “big picture,” and head off financial crises like the crash of 2008 and major non-bank players in the financial market operated in the shadows without any government oversight. Here’s how the Wall Street reform bill changes the status quo. What We Won,
Credit-ratings agencies had been held up historically as neutral arbiters of risk. That turned out to be far from the truth, as evidenced by the numerous mortgage-backed securities and other risky securities that states and municipalities in particular bought because they had been slapped with a AAA rating – meaning they were supposed to be