Financial Regulation
Commentary
Why #OccupyWallStreet?
History Repeats Itself on Financial Reform
Cry Wolf Quotes
So far as I know, we as a people have not reached any decision to abandon our accustomed type of life; up to date we have looked upon the officers of government not as masters but as servants of the people, and we have looked upon ourselves, the people, as master of our destiny. While, as I say, we have not reached any decision to abandon this philosophy, it seems to me that we are acting in many respects as if we had. ... If we really are in favor of changing our basic economic order, we must be prepared to abandon our present form of government along with it; for if we expect government to do our thinking planning and spending for us, we must be prepared to remove from government the necessity of submitting itself to frequent popular election. Otherwise, we shall have a planned economy, the plan of which changes whenever an election campaign approaches.
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.
[A dramatic increase in regulation under the Obama administration is] threatening to short-circuit our recovery and undermine our long-term growth....More importantly , it is suffocating the entrepreneurial spirit so vital to America’s success.
Our concern is that ... it will create a one-size-fits-all federal system that will marginalize both directors and shareholders.
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.
