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 alarm about the outstanding debt that has resulted from these
For immediate release Contact: Simone Allen (404) 692-5102 May, 11, 2010 Wall Street Dupes Big Business Into Fighting Against Reform End User Coalition Calls on Procter & Gamble, Caterpillar, Apple and Others to Leave Sham Coalition As the U.S. Senate debates measures to hold Wall Street accountable for the financial crisis, Commodities Market Oversight Committee
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 to the Restoring American Financial Stability Act of 2010 to
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 do? The CFPB in the Final Financial Reform Bill: What
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 Member Shelby: On behalf of the Credit Union National Association
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 eight banks spent $29.8 million in 2009, 12% more than