Cry Wolf Quotes
The Dodd bill would push the government into the business of dictating the terms at which consumers and businesses can contract. This has nothing to do with protecting consumers and everything to do with replacing consumer preferences with bureaucrats’ choices.
Congress, the administration and the states must recognize that our weak economy simply cannot sustain all the new taxes, regulations and mandates now under consideration. It is a surefire recipe for a double-dip recession or worse.
We feel that it is not in the public interest to require any and all information respecting the business of any bank be made a public record, and ask that the banks be required to submit information to the Federal Reserve Board only that such information be given confidential status, subject to the discretion of the Federal Reserve Board.
The Sarbanes bill will hand American corporations back to the trial lawyers for summary execution.
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Backgrounders & Briefs
As the nation approaches the first anniversary of the Dodd-Frank financial reform law, opponents are claiming that the new measure is extraordinarily damaging, especially to Main Street. But industry’s alarmist rhetoric bears striking resemblance to the last time it faced sweeping new safeguards: during the New Deal reforms. The parallels between the language used both then and now are detailed in a report released today by Public Citizen and the Cry Wolf Project.
Political Economy Research Institute is a think tank focused on a variety of subjects such as diverse financial regulation, living wages and environmental protection.
Consumer Federation of America defends the consumer interest in fields ranging from housing and financial services to food safety.
The Service Employees International Union represents workers the public sector and a variety of industries in the United States.
The National Community Reinvestment Coalition works against unfair lending and banking practices, particularly those targeted towards low and middle income families.