Financial Regulation
Commentary
Why #OccupyWallStreet?
History Repeats Itself on Financial Reform
Cry Wolf Quotes
The real worry is that these new rules and regulations do not create a risk factor or a timidity that is so severe that... they sit on the sidelines worrying more about rules and regulations than they do about making money .. If we have to go to a book keeping system as opposed to an accounting system then we're going to strangle the American enterprise system.
Today’s competitive markets, whether we seek to recognise it or not, are driven by an international version of Adam Smith’s "invisible hand” that is unredeemably opaque. With notably rare exceptions (2008, for example), the global “invisible hand” has created relatively stable exchange rates, interest rates, prices, and wage rates.
The Sarbanes bill will hand American corporations back to the trial lawyers for summary execution.
[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.
Related Laws and Rules
Backgrounders & Briefs
Industry Repeats Itself on Financial Reform
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.
Resources
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.