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News Story
3/28/2009
Posted by Consumer Watchdog
Is America ready for a health plan for all? The single-payer health reform bill introduced in the Senate March 25 will be supported by consumer advocates, but it cuts insurance companies out of the equation. Industry is helping to craft other reform plans being developed by the Obama administraton and Senators Baucus and Kennedy. Senator Bernie...
Blog Post
3/19/2009
Posted by Consumer Watchdog
After Enron's fraud on California during the 2001 electricity crisis became clear, a lot of politicians felt they had to give back their Enron contributions.  Our consumer group was the beneficiary of a few of those returned dollars, since we fought the energy industry's deregulation schemes. Now Open Secrets reports AIG's contributions, from...
News Story
3/18/2009
Posted by Consumer Watchdog
SANTA MONICA, CA -- A consumer group called on the U.S. Justice Department to form a special FBI unit to investigate the controversial bonuses being paid to executives at AIG. Consumer Watchdog said in a written statement Wednesday that the bureau should take the lead in determining whether there was any misconduct on the part of American...
News Release
3/16/2009
Posted by Consumer Watchdog
Advocates Say No Bonuses Should Be Paid Until Law Enforcement Conducts Detailed Review Of Any AIG Employee Who Wants to Enforce Contract   Santa Monica, CA -- Consumer advocates said that federal law enforcement agencies should create a special investigative unit dedicated to unearthing any fraud or misconduct attributable to AIG employees...
Blog Post
3/16/2009
Posted by Consumer Watchdog
President Obama has told Treasury Secretary Geithner to "pursue every legal avenue" to block $165 million in bonuses to American International Group executives.  Come on, this isn't rocket science, it's derivative trading. Here's a simple way to get the job done without filing a lawsuit. Just let every AIG exec know that each bonus...
News Story
3/3/2009
Posted by Consumer Watchdog
Click here to listen to the audio of this broadcast. Starting today, federal agencies must disclose how they're spending their share of the near $800 billion stimulus package. Ronni Radbill explains how the use of online reports could help improve government transparency. Steve Chiotakis: We're just a few weeks into the president's near $800...
Blog Post
3/3/2009
Posted by Consumer Watchdog
This morning on Larry Mantle's Air Talk Show on KPCC I had a back and forth with the American Bankers Association on the problem with credit card users having their rates jacked way up even when they don't miss their payments.  The Bankers' lawyer says the bait and switch tactics will all be fixed by 2010 with new federal regulations. ...
News Release
2/11/2009
Posted by Consumer Watchdog
Consumer Group Calls Congress Members' Appeal A Stalking Horse for Federal Deregulation of Insurance Washington, D.C. -- Consumer advocates warned Treasury Secretary Timothy Geithner not to allow necessary reform of the financial markets become a launching pad for insurance industry efforts to federally deregulate insurance, in a letter sent today...
Blog Post
2/4/2009
Posted by Consumer Watchdog
President Obama just finished a White House press conference with newly-confirmed Treasury Secretary Geithner that follwed up on a reform that Congress promised but failed to deliver on. They announced a curb on excessive executive compensation at Wall Street firms by announcing a $500,000 cap on executive pay for companies that receive taxpayer...
News Story
1/28/2009
Posted by Consumer Watchdog
What part of this financial crisis does Wall Street not understand? How much longer will Congress use billions in public money to bail out the nation's biggest banks, then let the top executives remain in charge, feeding lavish lifestyles, tossing workers out on the street and turning their backs on desperate homeowners facing foreclosure? One...