The Progressive


A project of Common Dreams

For Immediate Release
Contact: Phone: (202) 588-1000

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.

Public Citizen is a nonprofit consumer advocacy organization that champions the public interest in the halls of power. We defend democracy, resist corporate power and work to ensure that government works for the people - not for big corporations. Founded in 1971, we now have 500,000 members and supporters throughout the country.

(202) 588-1000