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Feature
4/27/2010
Carmen Balber
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 Carmen Balber
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 Release
3/16/2010
CONTACT CONTACT: Carmen Balber, (202) 629-3043
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 Release
3/2/2010
CONTACT CONTACT: Carmen Balber, (202) 629-3043
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 Carmen Balber
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 Carmen Balber
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 Doug Heller
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...
Blog Post
12/23/2009
Carmen Balber
As the work days blend into holidays, I hope you'll enjoy the holiday cheer of the Bailout Carolers:   You can download some of their carols for your own holiday fun from National People's Action.  Reminds me of Bailout Carols we sang in Sacramento in 2001, back when California's utility bailout (and Wall Street's manipulations of the...
Blog Post
12/23/2009
Posted by Carmen Balber
Just in case you were under the naïve impression that the folks over at AIG give a damn (or are even a little grateful for the taxpayer lifepreserver that’s still keeping them afloat), this news today at washingtonpost.com: When word spread earlier this year that American International Group had paid more than $165 million in retention...
Blog Post
12/15/2009
Posted by Carmen Balber
Captain Renault was taken aback at the gambling going on in Rick's casino. Imagine the surprise of the nation's biggest banking executives when the President revealed that their lobbyists in Washington (the ones the commercial banks have paid $36 million this year) are opposing financial reform. Gasp! As reported in the Wall Street Journal:...