Financial Regulation
Commentary
Why #OccupyWallStreet?
History Repeats Itself on Financial Reform
Cry Wolf Quotes
If the CEO of a $50-billion corporation operating in 112 countries is required to sign a document saying he guarantees under penalty of law that all these numbers are correct, there's not a CEO in America that will sign it.
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.
Taken together with the Securities Act of 1933 (the 1934 Act) will effectively bar the flow of capital into American business.
No corporation director is going to risk existing resources by putting his name on financing under a law that makes him personally liable for the next ten years and adopts the unprecedented principle that he is to be judged guilty unless he can be proven innocent.
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.