Cry Wolf Quotes
[It is a] collectivist [myth that business people] would attempt to sell unsafe food and drugs, fraudulent securities, and shoddy buildings….It is in the self-interest of every businessman to have a reputation for honest dealings and a quality product.
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.
No rule of thumb method ... can be devised which will fit all securities in all situations....It would produce even greater injury than the Federal Securities Act in retarding or preventing the follow of securities into new and refunding issues, which are indispensable if employment is to be maintained and increased and the huge burden on the Treasury is to be relieved.
America is sinking under the crushing weight of the ever-expanding regulatory state. This burden threatens to disrupt our recovery, hamper long-term growth, undermine our global competitiveness, and suffocate the entrepreneurial spirit so vital to America's success.
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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.