For Immediate Release
It’s Time to Bring Fairness, Oversight to Financial Markets
Statement of David Arkush, Director,Public Citizen’s Congress Watch Division
WASHINGTON - 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
Public Citizen is a national, nonprofit consumer advocacy organization founded in 1971 to represent consumer interests in Congress, the executive branch and the courts.