June 16, 2009
It’s Time to Bring Fairness, Oversight to Financial Markets
Statement of David Arkush, Director,Public Citizen’s Congress Watch Division
The current economic crisis has demonstrated the terrible consequences of allowing the financial marketplace to operate without oversight or accountability. Wall Street’s stunning failure has as much to do with the loosening of regulatory controls over the last decade as it does with the greed of the financial services industry.
As we rebuild our economy, we must also reform our financial system. There is an urgent need to restore transparency, oversight and fairness to the financial markets. Consumers and workers need a strong advocate who can push reforms that work for them, not Wall Street. Americans for Financial Reform will take on this fight on behalf of the millions of hard-working families whose homes, jobs and life savings are at risk because of a lack of corporate accountability.