Stabilizing the Financial System
The passage in 2010 of the Dodd-Frank Wall Street Reform and Consumer Protection Act was a tremendous victory for financial reform. However, much more must be done before the fair and stable financial system our communities need is in place. Immense “too big to fail” financial institutions must be broken up. Taxpayer supports must be severed from financial institutions that engage in risky, speculative activity. Computerized high speed trading must be reined in so that risks to our economy are minimized and benefits to our society are maximized.
Public Citizen supports legislation and regulatory action that builds on Dodd-Frank and moves us closer to a fair and stable financial system, one that serves the real economy
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More Resources on Stabilizing the Financial System
- Written Testimony of Public Citizen, Computerized Trading: What Should the Rules of the Road Be?, September 20, 2012
- Letter to House: Vote NO on JOBS Act (PDF), March 27, 2012
- Press Release: Goldman Sachs Revelation Underscores Need for Expedited Volcker Rule; Stress Test Results Should Bar Dividends, March 14, 2012
- Legal Petition and Supplementary Materials: Bank of America Poses a Grave Threat to U.S. Financial Stability Petition Calling on Federal Reserve and Financial Stability Oversight Committee to Break Up Bank of America, January 25, 2012
- Press Release: Public Citizen to Financial Regulators: Bank of America Poses a Grave Threat to U.S. Financial Stability, Should Be Broken Up, January 25, 2012
- Petition to Break Up Bank of America Filed With the Federal Reserve and Financial Stability Oversight Council (PDF), January 25, 2012
- Letter by Economists, Academics and Organizations, Calling on Regulators to Ensure Financial Stability (PDF), January 25, 2012
- Letter to House: Oppose the "SEC Regulatory Accountability Act" (H.R. 2308), August 17, 2011
- Letter to Senate: Oppose Sen. Tester's Proposal (S.575) to Delay Swipe Fee Reform, June 6, 2011
- Press Release: White House and Congress Must Back Financial Speculation Tax, Diverse Array of Groups Say on Tax Day, April 15, 2010
- Press Release: Obama’s New Bank Fee Good Start, But More Needed to Hold Wall Street Accountable, January 14, 2010
- Press Release: While Officials Examine Causes of Financial Crisis, Bank Chiefs Still Engaging in Reckless Practices, January 13, 2010
- Press Release: It’s Time to Tax Wall Street’s Risky Behavior, December 3, 2009
- Press Release: Financial Regulation Debate Moves to Senate: Lawmakers Who Think Public Outrage Has Abated Do So at Their Peril, November 10, 2009
- Testimony of Robert Weissman on "Too Big To Fail – The Role for Bankruptcy and Antitrust Law in Financial Regulation Reform" Before the House Judiciary Committee Subcommittee on Commercial and Administrative Law (PDF), October 22, 2009
- Press Release: Solution to ‘Too-Big-to-Fail’ Banks: Break Up Firms, Avoid Future Bailouts, Public Citizen to Tell Congress, October 22, 2009
- Report: Bank-Rolling Congress: Financial Services Industry Lobbyists & PACs Have Sponsored 70 Fundraisers, Contributed $6 Million Since Election Day (PDF), August 26, 2009
- Press Release: Bailed-Out Banks’ PACs, Lobbyists Have Sponsored 70 Fundraisers for Congress, Donated $6 Million Since Election, August 26, 2009
- Press Release: Thursday Anniversary of Glass-Steagall Repeal: Lessons About Maniacal Deregulation, Political Power of Mega-Financial Institutions, November 11, 2009
- Press Release: Solution to ‘Too-Big-to-Fail’ Banks: Break Up Firms, Avoid Future Bailouts, Public Citizen to Tell Congress, October 22, 2009
- Press Release: It’s Time to Bring Fairness, Oversight to Financial Markets, June 16, 2009
More Resources on Our Work Responding to the 2008 Financial Crisis and Bailouts
- Letter to President Obama Urging him to Suspend GM's Initial Public Offering (PDF), November 11, 2010
- Press Release: Auto Dealers Do Not Have a Right to Rip Off Consumers, May 17, 2010
- Press Release: A Year and a Half After the Economy Crashes, and This Is What We Get? March 15, 2010
- Testimony
by Joan Claybrook on the Auto Industry Bailout before the House Select
Committee on Energy Independence and Global Warming (PDF), December 9, 2008
- Press Release: Congress Must Force Big Three Automakers to Deliver Safer, More Fuel-Efficient Vehicles to a Demanding Public, December 9, 2008
- Letter Urging Congress to Turn the Auto Industry Bailout Into an Investment (PDF), November 12, 2008
- Press Release: Turn the Auto Industry Bailout Into an Investment, Public Citizen Tells Congressional Leadership, November 12, 2008
- Press Release: Congress Should Reject Bailout Bill; Package Is Loaded With Corporate Pork, Not Enough Protections for Consumers, Homeowners, October 2, 2008
- Press Release: As Congress Readies to Approve Most Costly Bailout in U.S. History, Lawmakers Must Ensure Taxpayers Are Protected, September 24, 2008
- Press Release: Government Bailout Must Put Americans First, September 24, 2008
- Press Release: Statement of Harvey Rosenfield: The Great Bailout of 08: Protecting Americans, September 24, 2008
- Fact Sheet: Principles for a Patriotic Bailout Plan, September 24, 2008
- Press Release: Auto Industry’s Arrogance Led to Its Predicament; Congress Should Attach Strings to Any Bailout, September 11, 2008