Watchdogging The Financial Reform Conference Committe

As House and Senate negotiators prepare to merge their financial reform bills, we joined forces with CREDO to demand that that there be no private deal-making but that their negotiations be held in public. Also, at the America's Future Now! conference, we began forging strategy on how to get a real reform bill that reins in Wall Street and meets Main Street's needs. Follow our work on the financial reform fight in the House-Senate conference committee on this page.


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Wall Street Reform: A Good First Step

By Zach Carter
June 25, 2010

Members of Congress finished ironing out their differences on Wall Street reform last night, and the resulting bill deserves unequivocal support from progressives and conservatives alike. But while the final package is a necessary first step to overhauling the nation's out-of-control financial sector, it will do very little to change the destructive status quo on Wall Street. more »

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Gen. Petraeus Goes to War, Mrs. Petraeus Loses to Car Salesman in Congress

By Richard (RJ) Eskow
June 24, 2010

This pretty much says it all: General Petraeus is going to Afghanistan at the President's request to lead the war effort there, but his wife Holly's struggle to defend our troops against the predatory lending practices of car dealers has been lost. Holly will become another military spouse who lost a battle with car dealers while a loved one serves overseas. more »

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Help Ensure House & Senate Managers "Aren't in a Good Mood" About Shady Auto Deals

By Richard (RJ) Eskow
June 21, 2010

"What do I have to do to get you into this car?"

"How much can you afford to pay every month?"

"My manager's in a good mood."

These are the car salesman cliches everybody knows. Now they're trying to add a couple more to the repertoire: more »

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Will Wall Street Reform Be Gutted By A Technicality?

By Zach Carter
June 17, 2010

The tough derivatives overhaul proposed by Sen. Blanche Lincoln, D-Ark., has emerged as the key fight in Wall Street reform. That status is well-deserved. more »

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The Conference Committee Must Strengthen Wall Street Reforms

By Zach Carter
June 10, 2010

Conference Committee negotiations on Wall Street reform begin today, with several key battles still unresolved. Thanks to intense progressive pressure, those negotiations are going to be televised live. more »

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Radio Appearance in Santa Barbara: The Current State of Financial Reform (And What We Can Do About It)

By Richard (RJ) Eskow
May 31, 2010

Here's an audio clip of my appearance yesterday with Hannah-Beth Jackson on Santa Barbara progressive radio to discuss the current state of financial reform and what can be done next:

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"No More Secrecy": Open The Wall Street Negotiations and Empower Voters

By Richard (RJ) Eskow
May 26, 2010

The Campaign for America's Future (CAF), CREDO, and MoveOn have launched a petition campaign to ensure that the House/Senate deliberations on financial reform be "fully transparent." The good news? more »

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Scaling Back Our Bloated Financial Sector

By Zach Carter
May 26, 2010

It's been apparent for several weeks that the Wall Street reform bill will not cut down the largest U.S. banking behemoths to a safe and manageable size. But individual oversized banks are not the only problem Big Finance poses to the economy—the overall sector is much too large, and if we do not shrink it, we'll be dealing with difficult economic conditions for years to come. more »

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Progressives Demand: No Back-Room Deals On Wall Street Reform

By Brian Beutler
From tpmdc.talkingpointsmemo.com
May 26th, 2010

tpmdc.talkingpointsmemo.com — So often on Capitol Hill, legislators spend weeks or months creating bills under a fair amount of public scrutiny, only to cut a deal behind closed doors in the final hours and push it through both the House and the Senate before reporters and experts have had a chance to examine it. The Wall Street reform bill is supposed to be different: it will be completed in a formal House-Senate conference, in front of cameras and with all votes recorded, thanks to conference chairman Barney Frank. But aides on the hill and outside progressive groups both say there's still too much room for funny business and are pressing Congress to make the end-stage negotiations even more transparent.

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Wall Street's Victory Lap

By Simon Johnson
From huffingtonpost.com
May 26th, 2010

huffingtonpost.com — By now you have probably realized — correctly — that "financial reform" has turned into a victory lap for Wall Street. When they saved the big banks, with massive unconditional support (both explicit and implicit) over a year ago, top administration officials promised they would be back later to fix the underlying problems. This they — and Congress — manifestly have failed to do. Our banking structure remains unchanged, the rules will be tweaked at the margins, and the incentive and belief system that lies behind reckless risk-taking has only become more dangerous.

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