Tag Archives: financial crisis


Why Crypto is not the Solution to Financial Inclusion

Americans for Financial Reform and the Take on Wall Street campaign gathered several experts on July 1 to lay out the multiple ugly truths about crypto and addressed a few reasons why we should not take the promises made by its most enthusiastic advocates at face value, and why regulators need to use the authority they already have to oversee this market.

News Release: Experts: U.S. Supreme Court Ruling in Goldman Sachs Case Could Have “Devastating Consequences” for Investors, Market Confidence

Will the U.S. Supreme Court allow investors defrauded by Goldman Sachs during the financial crisis to have their day in court?  Or, will the Court rule in favor of Goldman Sachs and, in so doing, create a roadmap that publicly traded companies can use to make false and misleading statements that will harm Main Street investors and dramatically undermine market confidence by making it impossible for any investor to rely on the public statements of companies?

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Letter to Congress: Oppose HR 5143 — No More AIG-style Taxpayer Bailouts

On behalf of Americans for Financial Reform (AFR), we are writing to oppose HR 5143, the “International Insurance Standards Act”. …Even without the amendment, HR 5143 places unreasonable and unworkable barriers on international negotiations important to the oversight of global insurance companies. We should not forget that an insurance company, AIG, was at the center of the 2008 financial crisis and received the largest taxpayer bailout in U.S. history. The $182 billion AIG bailout went to cover losses in investment banking type activities like the sale of credit default swaps and the securities lending business.