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Blog Post
3/6/2009
Posted by Consumer Watchdog
The Office of Thrift Supervision took responsibility for its failure as AIG's primary regulator to prevent the company's accumulation of extreme risk in the years before its collapse.    As CQ reports: “It’s time for the OTS to raise their hand and say they have some responsibility and accountability here,” acting...
Blog Post
3/6/2009
Posted by Consumer Watchdog
Wall Street spent $5 Billion in one decade in Washington to buy the deregulation that resulted in the financial meltdown. These are the mind-numbing numbers in a new report released this week by Essential Action and the Consumer Education Foundation that says everything Americans need to know about how and why the economy collapsed. From their...
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. ...