James Crotty, Gerald Epstein, and Iren Levina have co-authored an article regarding financial reform, the “Volcker Rule,” and the real cost of propriety trading. Here is the introduction to the article: President Obama’s endorsement of the “Volcker Rule” — a set of proposals designed to
The following letter was delivered to Senator Dodd on February 23, 2010 by Public Citizen, a partner of Americans for Financial Reform. AFR’s coalition helped direct consumers toward this pro-reform petition which was signed by 45,874 Americans. For more information about the petition, see the
For immediate release February 24, 2010 AFR Calls on Senate to Maintain Strong Corporate Governance Reforms Says Board Failures a Key Factor in Financial Meltdown; Questions Credibility of U.S. Chamber of Commerce-led Opposition WASHINGTON, D.C. – With the U.S. Senate poised to move forward on
An article in yesterday’s New York Times talked about new efforts from the White House on behalf of financial reform legislation. The Obama administration redoubled its efforts on Tuesday to overhaul the nation’s financial regulations, saying it would not back down from its efforts to
Rhode Island’s Providence Journal just released this Editorial supporting “the Volker Rule.” It says: Wall Street should not again earn fortunes through reckless investing while loading the risks onto taxpayers. It’s time for new rules for this game, and no financial figure is better suited
Paul Solman from PBS “NewsHour” recently interviewed former bank regulator Bill Black about his opinion regarding the effects of deregulation of financial products. Bill Black talks about the way that bad practices have been ignored by bank regulators and notes that, “In the savings and
On Monday, February 22, the long-awaited and long-needed changes laid down by the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act went into effect. When the bill was passed last May, it was the first time meaningful credit card legislation had ever been passed on
AARP recently commissioned a nationwide survey to understand public opinion on consumer financial protection issues. The results show nearly unanimous support for numerous consumer financial protections. Click here to read the report. Here’s an excerpt from the AARP press release regarding this survey: The survey
Comprehensive Reforms Are Only Way to Ensure Stability in the Economy Washington, DC – Americans for Financial Reform released the following statement marking the full implementation the Credit Card Accountability, Responsibility and Disclosure (CARD) Act today. Ed Mierzwinski, Consumer Program Director, U.S. PIRG: “The Credit
A recent editorial in the New York Times talked about the need for sweeping financial reform in order to effectively deal with the nation’s economic problems, and the hurdles that reform legislation must face as it moves through the Senate. It said: Nearly a year