Dr. Mark Cooper, CFA Director of Research, submitted the following statement for the record of the hearing on Excessive Speculation and Compliance with the Dodd-Frank Act, being conducted by the Senate Committee on Homeland Security and Governmental Affairs, along with CFA’s recent report entitled Excessive Speculation and Oil Price Shock Recessions: A Case of Wall Street ‘Déjà vu All Over Again.’
Click here to view this week’s highlights and lowlights in Wall Street Reform – October 22, 2011 – October 28, 2011.
Click here to view this week’s highlights and lowlights in Wall Street Reform – October 15, 2011 – October 20, 2011.
In a letter to Congress, AFR urges Senators to oppose the Crapo Amendment 814 to HR 2112, which would inhibit financial regulators ability to oversee the shadow markets in derivatives.
“Wall Street driven excessive speculation in commodities market has increased prices – and price volatility – for everyday commodities including oil and food. It is costing US consumers hundreds of billions of dollars, driving up costs and uncertainty for producers, holding back economic recovery, and causing increased hunger and privation in the poorest parts of the world.”
Click here to view this week’s highlights and lowlights in Wall Street Reform – October 8, 2011 – October 14, 2011.
Today’s House Agriculture committee hearing is a loophole festival for the big swaps dealers. The Committee is considering seven different pieces of legislation. Almost every one of them would carve a significant loophole in the new derivatives protections created by the Dodd Frank Act.
Click here to view this week’s highlights and lowlights in Wall Street Reform – October 1, 2011 – October 7, 2011.
The current economic turbulence is a direct result of insufficient regulation — so it makes no sense to curb pending rules that would address the causes of the crisis, says Lisa Donner, executive director of Americans for Financial Reform, a coalition of labor, civil rights, community, and small business groups. “The thought that what we need to get the economy going again is to cut back on regulation is astoundingly backwards,” she says, noting that recent polls suggest businesses are struggling with economic conditions, not overregulation.”
Click here to view this week’s highlights and lowlights in Wall Street Reform – September 24, 2011 – September 30, 2011.