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
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
Heather Booth, the Executive Director of Americans for Financial Reform, is now blogging on the Huffington Post. Click here to read her profile and subscribe to her blog. This week, she’s talking about the link between unemployment and the need for financial reform, especially given
February 1, 2010 The Honorable Christopher Dodd Chairman Senate Committee on Banking, Housing and Urban Affairs 534 Dirksen Senate Office Building Washington, D.C. 20510 Dear Senator Dodd: We are writing today to convey our strong support for comprehensive regulatory reform, and to reaffirm our view
Paul Volcker, Chairman of the president’s Economic Recovery Advisory Board and former Federal Reserve Chairman, published this op-ed in the New York Times. Here are excerpts: The phrase “too big to fail” has entered into our everyday vocabulary. It carries the implication that really large,
The New York Times published this editorial supporting President Obama’s proposal to break up the big banks. Here is an excerpt: In calling for new limits on the size and activities of big banks, President Obama has given the effort to enact serious financial regulatory
Washington, DC – Americans for Financial Reform released the following statement about President Obama’s proposal to limit the size and investments of big banks. Heather Booth, Executive Director, Americans for Financial Reform: “Today the President has signaled the beginning of the end of “too big
Financial reform activists from around the nation are fueling a new campaign that encourages consumers to “Move Your Money” from the big bailed-out banks to small local banks. Your accounts with the big Wall Street banks are unwittingly helping to fund the fight against reform.
The Washington Post ran this article pointing out mistakes made by the Federal Reserve Board. Here is an excerpt: Just as the Fed had failed to protect borrowers from the consequences of subprime lending, so too had it failed to protect banks. The central bank’s
US Taxpayers spent $180 billion to bail out AIG – and bought an 80% stake in the company in the process. Sign the open letter to AIG here! As taxpayers and majority shareholders in AIG, we ask that you immediately release all emails, internal accounting