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Feature
4/27/2010
Posted by Consumer Watchdog
UPDATE: The Wall Street filibuster of financial reform was broken Wednesday night. Now the Senate moves to a full and open floor debate - where the public will expect Senators to take a stand against bank lobbyists' efforts to weaken reform. Consumer Watchdog has called for a full and open debate on the Senate floor on financial reform. That means...
Blog Post
3/19/2010
Posted by Consumer Watchdog
Check out this hilarious and too-truthful Huffington Post from Heather Booth, director of Americans for Financial Reform, the coalition of public interest groups working to enact real Wall Street reform, on this week's Capitol Hill visit from the American Bankers' Association. It will make you laugh, curse, and maybe vomit a little. A taste:...
News Story
3/19/2010
Posted by Consumer Watchdog
The question of where to house a proposed new consumer protection agency has garnered at least as much attention as whether there is a genuine need for such an agency.   The latter point seems almost moot to many, especially those who fall under the broad category of consumer advocate.   Exhibit A in their argument for a more focused...
News Story
3/17/2010
Posted by Consumer Watchdog
(Photo: SEIU International; Edited: Jared Rodriguez / t r u t h o u t) The political jousting since Sen. Chris Dodd proposed new financial reforms on Monday seems at first to be just another Washington ideological rift: liberals favoring regulating an industry, and Big Business and Republicans opposing it. With the Chamber of Commerce willing to...
News Release
3/16/2010
Posted by Consumer Watchdog
Washington, D.C. -- Consumer Watchdog’s Washington Director, Carmen Balber, made the following comments on consumer protection in financial reform legislation proposed by Senate Banking Committee Chairman Chris Dodd:   “Legislation released by Chairman Dodd on consumer financial protection would hamstring a new consumer regulator...
News Story
3/2/2010
Posted by Consumer Watchdog
One of the nation's top banking regulators reiterated her support for an independent agency to protect borrowers from predatory lenders, putting her at odds with her fellow regulators and the industry she oversees. "Consumer abuses were one of the root causes of the financial crisis and regulatory reform legislation should address this...
News Release
3/2/2010
Posted by Consumer Watchdog
Washington, DC – A leaked proposal by Senate Banking Committee Chairman Chris Dodd to give consumer protection authority to the Federal Reserve Board in financial reform legislation would be a total capitulation to Wall Street lobbying, said Consumer Watchdog, and urged Senate committee members to insist on a strong independent consumer...
Blog Post
1/28/2010
Posted by Consumer Watchdog
Entering the House chamber last night on the way to the podium to give his second State of the Union address, President Obama drew his Treasury Secretary close for a pat on the back that I could only interpret as ‘thanks for taking the heat.’ Hours before, Secretary Geithner sat in the hot seat in a House hearing room, defiantly...
Blog Post
1/21/2010
Posted by Consumer Watchdog
Consumer Watchdog just finished a big report about all the ways Wall Street is spending money into Congress to neuter financial reform. After all, it was the financial industry that greased the wheels of deregulation in Congress in the decade leading up to the economic meltdown. Now the big banks and Wall Street are sending legions of lobbyists to...
Blog Post
12/31/2009
Posted by Consumer Watchdog
In what might as well be called a perfect ending to the year - and maybe a reasonable summation of the decade - McClatchy is reporting on newly revealed documents from Goldman Sachs that point to a massive ponzi scheme by the Wall Street titan. (Credit to Truthdig for putting it on our radar.)  By now it's clear that Goldman played the Fed...