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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
12/16/2009
Posted by Judy Dugan
This sizzling editorial (two words you can't often use together) in the New York Times lays out the damage Sen. Joe Lieberman has singlehandedly done to health reform. It's the best argument you could find for following the call of my colleague, Jamie Court, to dump the Senate's 60-vote "filibuster rule" that lets industry mouthpieces...
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:...
Blog Post
12/14/2009
Posted by Carmen Balber
Consumers won a big victory over the banks and Wall Street last week when the House passed financial reform legislation that, among other things, created a new top cop to regulate all consumer financial products. But it was a close fight. The consumer regulator survived by a margin of just 15 votes. That's thanks in no small part to the financial...
News Release
12/11/2009
CONTACT CONTACT: Carmen Balber, (202) 629-3043
WASHINGTON, D.C. -- Consumer Watchdog applauded approval by the U.S. House of Representatives of its financial regulatory overhaul bill, H.R. 4173, including the creation of a strong consumer regulator, but cautioned that more must be done to protect American homes and savings and prevent the big banks and Wall Street from dragging the nation into...
Blog Post
12/10/2009
Posted by Carmen Balber
The U.S. House of Representatives is debating the financial reform package right now. It would, among many other things, create a new regulator to do the consumer protection the banking regulators ignored, and require Wall Street speculators to meet minimum standards and do their gambling in the light of day. What I’m having a hard time...
Blog Post
12/10/2009
Posted by Jamie Court
If money is the mother milk of politics, then big bucks from the banks and financial industry are souring financial reform legislation being debated in the House of Representatives this week. A new analysis by Consumer Watchdog shows just how rotten the Capitol Hill dairy is. Thirty-four members of the U.S. House of Representatives that offered...
News Release
12/10/2009
CONTACT CONTACT: Carmen Balber, (202) 629-3043
New Dems, Who Stalled Consideration of Bill Last Night, Raised $6.5 Million from Financial Sector This Year   Washington, D.C. – 34 members of the U.S. House of Representatives that offered amendments to weaken consumer protections in the House financial reform package received $3.8 million in campaign contributions from the financial...
News Release
12/2/2009
CONTACT CONTACT: Carmen Balber, 202-629-3043
Financial Reform Should Not Override State Protections, Says Consumer Watchdog   Washington, D.C. --- Legislation to undermine state insurance protections, including laws requiring insurers to hold enough money to pay all claims, passed the U.S. House Financial Services Committee today. Insurance deregulation should not be part of a...
Blog Post
11/5/2009
Posted by Judy Dugan
The news that the New York office of Citigroup got 1,200 doses of H1Ni flu vaccine, and Goldman Sachs got about 200, makes me even angrier than their executive bonuses. Don't these people have any sense of propriety? Just by way of comparison, local health departments, like those in LA County, are struggling to even vaccinate high-risk groups like...