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Blog Post
3/1/2010
Posted by Carmen Balber
Not that I had any doubt that Wall Street's fingerprints are all over every draft of the financial reform legislation, but here's more disturbing proof of just how deep their fingers are dug into the pie. The Huffington Post just reported that a top Treasury Department official, whose job was to work with the House Financial Services Committee in...
Blog Post
2/17/2010
Posted by Carmen Balber
Reports about consumer protection in the Senate Banking committee's Wall Street reform bill are ever-shifting. It's time for Committee Chairman Chris Dodd to tell us where he stands. Back in November, Chairman Dodd released a bill that included a strong, independent Consumer Financial Protection Agency with full rulemaking, examination and...
News Release
2/8/2010
CONTACT CONTACT: Carmen Balber (202) 629-3043
Calls on Sen. Dodd To Re-Affirm Commitment to Independent Consumer Financial Protection Agency Washington, DC -- Consumer Watchdog called on Senate Banking Committee Chairman Christopher Dodd to re-affirm his commitment to an independent consumer financial regulator today after the nation’s largest bank announced it would not oppose the...
Blog Post
2/5/2010
Posted by Carmen Balber
It was hard to get away from Wall Street in Washington this week. In Congress, the Senate Banking committee held its first hearings since November on Wall Street reform, starting with an appearance by former Federal Reserve Chairman and current chair of the President's Economic Recovery Advisory Board, Paul Volcker. Volcker testified in support of...
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...
News Release
1/26/2010
CONTACT CONTACT: Jerry Flanagan, 310-889-4912; or Carmen Balber, 202-629-3043
Washington, D.C. -- Consumer Watchdog urged President Obama to watch Sunday’s Dateline NBC documentary on patients who have insurance but not adequate coverage, then pledge in his State of the Union address tomorrow to deal with the lack of legal accountability for insurers and lack of adequate representation for consumers in the federal...
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...
News Release
1/21/2010
CONTACT CONTACT: Carmen Balber, (202) 629-3043
Flood of Dollars Looks Like “Wall Street Buying Votes,” says Watchdog; More Massachusetts-Style Backlash Likely If Consumer Protections Are Dropped Download updated report. Washington, DC – A report released today by Consumer Watchdog on the financial industry’s efforts to neuter the financial reform bill in Congress, and...
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...