On Tuesday April 29, Better Markets staff analyzed President Trump’s first 100 days in office. Our policy experts examined key personnel and policy choices, potential sources of risk, and the implications for the broader economy.
Below is the opening of our monthly newsletter. View the full newsletter online here. Hi friend, Even though February is the shortest month of the year, Better Markets has been hard at work on actions that make a real difference in the lives of Main Street Americans. Every American depends on basic financial products and […]
In between the commercials and dip this Super Bowl Sunday, think about why we trust the results. It’s because we have clear rules and impartial officials. We need the same rules, effective enforcers, and accountability for our markets and economy. At Better Markets, we’re working to push policymakers to enact – and independent regulators to […]
Below is the opening of our monthly newsletter. View the full newsletter online here. Hi friend, For many of us, the beginning of 2025 has been deeply troubling if not traumatic. President Trump claimed the results of the 2024 presidential election was a repudiation of the status quo and that he was elected by a multi-racial […]
WASHINGTON, D.C.— Dennis Kelleher, President, CEO, and Co-founder, issued the following statement on President Trump’s firing of Rohit Chopra as Director of the Consumer Financial Protection Bureau (CFPB). “President Trump’s firing of Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra is a slap in the face of all hardworking Americans and makes clear that he […]
A new report by Better Markets’ Co-founder, President, and CEO Dennis Kelleher warns that the Trump administration’s policies—driven by its allies in key regulatory positions and Wall Street financiers—are repeating the same dangerous mistakes that led to the 2008 crisis, the 2023 turmoil, and even the Great Depression of 1929. Kelleher demonstrates that the financial industry […]
WASHINGTON, D.C.— Shayna Olesiuk, Director of Banking Policy, issued the following statement in connection with Better Markets’ new Report, “California’s Homeowners, Business Owners, Banks, and Financial Safety Net Burned by Fires.” “The fires in California have sadly destroyed entire communities and put immense pressure on homeowners, businesses, and financial institutions. The Palisades and Eaton fires […]
WASHINGTON, D.C.— Dennis Kelleher, President, CEO, and Co-founder, issued the following statement in response to President Trump’s Acting FDIC Chair Travis Hill’s Statement this morning. “The FDIC is one of the most successful financial regulatory agencies in the history of the United States. For 91 years, since being created by FDR in 1933, the FDIC […]
WASHINGTON, D.C.—Benjamin Schiffrin, Director of Securities Policy, issued the following statement in connection with Better Markets’ new Report, “Unregulated Financial Influencers: Safeguarding Investors in the Digital Age.” “When most people think of Kim Kardashian and Lindsay Lohan, they probably don’t think of them as purveyors of financial advice. But the SEC has sued both for […]
WASHINGTON, D.C.—Stephen Hall, Legal Director and Securities Specialist, issued the following statement on the release of a new fact sheet as the January 17th oral argument approaches in KalshiEx LLC v. CFTC, a case that will determine the fate of contracts that allow huge wagers to be placed on election results: “The D.C. Circuit should […]
Below is the opening of our monthly newsletter. View the full newsletter online here. Hi friend, While it’s 2025, many are still talking about the elections of 2024. Some (including James Carville on January 2nd) are shocked that an economy that doesn’t work for most Americans was a key driver for voters. We were not surprised. There […]
WASHINGTON, D.C.—Benjamin Schiffrin, Director of Securities Policy, issued the following statement in connection with Better Markets’ new Fact Sheet and Report, “The Rise of the Private Markets Poses Risks for Retail Investors and Capital Formation.” “Public securities markets in America are deep, liquid and the envy of the world, providing capital to American and global […]
At an Axios event Dennis Kelleher spoke to Lucinda Shen about crypto industry backed bills and why they are a threat to our economy and Main Street. You can find the full event here.
U.S. looks to ban election betting as traders flock to prediction sites Washington Post, August 17, 2024 By Tony Romm Even before President Joe Biden had announced his exit from the 2024 election, thousands of voters flocked to the website PredictIt last month, hoping to place bets on the other candidates who might win in his stead. … […]
WASHINGTON, D.C.— Dennis Kelleher, Co-founder, President and CEO, issued the following statement in connection with the release of a Fact Sheet, New York Community Bancorp: A Frankenstein Monster Federal Regulators Created: “Most of the reporting about New York Community Bancorp (NYC Bancorp) has focused on its commercial real estate (CRE) portfolio and concerns about possible […]
WASHINGTON, DC – Dennis Kelleher, Co-founder, President, and CEO, issued the following statement on Better Markets joining leading progressive advocacy groups, including Public Citizen, in a letter supporting the Federal Insurance Office’s (FIO) Climate-Related Financial Risk Data Collection efforts and urging the Office of Management and Budget (OMB) to approve the collections. “As the climate crisis […]
WASHINGTON, D.C.— Dennis M. Kelleher, Co-founder, President, and CEO issued the following statement in response to today’s interagency policy statement on Principles for Climate-Related Financial Risk Management for Large Financial Institutions. “We applaud the FDIC, Federal Reserve, and OCC (“Agencies”) for recognizing the serious risks climate events present to the safety and soundness of banks, […]
WASHINGTON, D.C.— Legal Director and Securities Specialist Stephen Hall issued the following statement in connection with the release of a Fact Sheet concerning the Securities and Exchange Commission’s proposed rule to eliminate certain conflicts of interest associated with the use of predictive data analytics (PDA) by broker-dealers and investment advisers. The comment period for the […]
WASHINGTON, DC –Scott Farnin, Legal Counsel, will be speaking on a panel at The Fourth New York Fed Conference on Fintech: Artificial Intelligence and Digital Assets on Friday, September 29. Scott Farnin is a panelist on the “Approaches to Regulating Crypto” panel which will focus on securities regulation, crypto investor protection, and outstanding issues with […]
WASHINGTON, D.C.—On Wednesday, September 20th, the U.S. Securities and Exchange Commission (SEC) will consider whether to adopt proposed rules governing investment company names (which includes mutual funds, ETFs, BDCs, etc.) that are likely to mislead investors about the fund’s investments and risks. Better Markets’ Legal Director and Securities Specialist Stephen Hall released the following statement in anticipation […]
Highest-Level Conviction for Major Financial Institution Executive in Years To: Interested Parties From: Dennis Kelleher, President and CEO (Media Contact: Anton Becker, Dir. of Communications [email protected]) Date: September 14, 2023 Re: Sentencing of Former Wells Fargo Senior Executive for Role in Phony Accounts Scandal At long last a senior bank executive may be going to […]
WASHINGTON, D.C.— Dennis M. Kelleher, Co-founder, President, and CEO of Better Markets, issued the following statement on the filing of Better Markets’ Comment Letter to the Federal Deposit Insurance Corporation (FDIC) in response to the agency’s proposed rule for special assessments to recover losses resulting from the protection of uninsured depositors at the failed Silicon […]
For years now, too many leaders, influencers, and gatekeepers in finance from Silicon Valley to Wall Street as well as many in Washington either looked the other way or blindly supported the crypto industry as it worked relentlessly to infiltrate our financial system and rewrite the laws and rules to benefit the industry. Nothing slows […]
To: Interested Parties From: Dennis Kelleher, President and CEO (Media Contact: Madeline Tucker, Press Secretary, [email protected]) Date: March 8, 2023, sentencing on March 9, 2023 Re: Former Goldman Sachs Partner Roger Ng to Face Sentencing for 1MDB Crimes Of the 30 officers and executives at Goldman Sachs involved in enabling the looting and global money-laundering […]
The Financial Times’ Robert Armstrong‘s latest story covers the Federal Reserve and its role in our current economic situation. He references the work of Better Markets and its recent report on the Federal Reserve and systematic instability. Below is an excerpt from the piece: It is useful, then, when the case against the Fed is framed […]
WASHINGTON, D.C.— Dennis M. Kelleher, Cofounder, President, and CEO, issued the following statement in connection with a report on the Federal Reserve’s actions decoupling asset pricing from risk from 2008-2022 and creating systemic instability. The report comes ahead of the upcoming Federal Open Market Committee (FOMC) meeting on January 31. “While most of the media coverage […]
In an excellent story by John Cassidy of the New Yorker, the outlet covers how the demise of FTX should inform how we regulate crypto. He talks to Better Markets CEO Dennis Kelleher about why the crypto industry wants the CFTC as its regulator and the influence of Washington’s revolving door. You can find the […]
On December 8, Better Markets’ Legal Counsel Scott Farnin took part in an SEC Investor Advisory Committee panel discussion of single stock ETFs. The panel focused on the recent rise of single-stock ETFs, which give investors leveraged returns to the daily returns of specific stocks. Scott explained that single-stock ETFs represent the unnecessary introduction of […]
In an outstanding piece by Robin Wigglesworth of the Financial Times, the outlet covers the CFTC’s failures when it comes to FTX. Better Markets’ work on FTX’s collapse is cited. Below are several excerpts from the story: Yes, the CFTC might not have been able to prevent the FTX debacle. Frauds happen. But the agency […]
On December 8, Stephen Hall, Legal Director for Better Markets, participated in the U.S. Securities and Exchange Commission (SEC) Investor Advisory Committee meeting. Hall took part in a “Panel Discussion on Account Statement Disclosure: Do client statements adequately serve investors?”, which focused on analyzing the content and format of information that is conveyed to customers through […]
WASHINGTON, DC – Stephen Hall, Legal Director and Securities Specialist, and Scott Farnin, Legal Counsel, will be speaking on panels at the U.S. Securities and Exchange Commission Investor Advisory Committee meeting on Thursday, December 8. Stephen Hall is a panelist on the “Panel Discussion on Account Statement Disclosure: Do client statements adequately serve investors?” which will […]
This article was published in the NAPFA Advisor Magazine. The U.S. economy and financial markets have entered a period of heightened uncertainty, posing fresh challenges for investors. Inflation is up sharply, a possible recession looms, and the securities markets are exhibiting significant volatility while venturing into bear territory. Commodity prices are also experiencing huge price […]
The Financial Times Tech Tonic podcast covers the crypto lobby’s enormous influence in its series “A sceptic’s guide to crypto.” They spoke with our Dennis Kelleher about the stunning amount of money being spent and how it could impact our entire financial system. “It’s shocking, but often very intelligent people don’t stop and say, ‘Well, that really sounds like […]
Dennis Kelleher joined Bloomberg TV’s The Close with Caroline Hyde, Taylor Riggs and Sonali Basak to discuss the anniversary of Robinhood’s IPO, its predatory practices, & how we can actually democratize #WallStreet.
Even though Wall Street’s biggest banks each have decades-long histories of repeatedly breaking the law,[1] senior staff, supervisors, and executives of those banks are almost never charged either civilly or legally for that lawbreaking. However, the Department of Justice (DOJ) has criminally charged four of nine former JPMorgan Chase officers for engaging in an 8-year […]
WASHINGTON, D.C.—Phillip Basil, Director of Banking Policy, issued the following statement in connection with sending a letter to Federal Reserve Chair Powell and Director Gibson urging transparency regarding the Fed’s involvement as a member of the Basel Committee on Banking Supervision in the decision to reduce the capital buffers of systemically important European banks: “As […]
WASHINGTON, D.C.— Better Markets President and CEO Dennis M. Kelleher issued the following statement on the release of a bipartisan crypto bill: “The bipartisan crypto bill with the Orwellian name of ‘Responsible Financial Innovation Act’ released today will likely result in crypto being largely unregulated, even though it is an extremely volatile financial product with […]
WASHINGTON, D.C.— Better Markets President and CEO Dennis M. Kelleher issued the following statement on the filing of Better Markets’ Comment Letter to the Commodity Futures Trading Commission (CFTC) in response to the agency’s request for comment on FTX’s proposal to offer non-intermediated, margined clearing of Bitcoin futures products: “FTX has filed an application with […]
WASHINGTON, D.C.—Dennis Kelleher, Co-founder, President and Chief Executive Officer of Better Markets, released the following statement upon the release of a proposal to overhaul the Community Reinvestment Act (CRA): “Few laws have more potential to meaningfully improve the lives and livelihoods of tens of millions of Americans than the Community Reinvestment Act (CRA). However, it […]
FOR IMMEDIATE RELEASE Wednesday, January 26, 2022 Contact: Evelyn Swan at 202-618-6433 or [email protected] WASHINGTON, D.C.—Stephen Hall, Better Markets Legal Director and Securities Specialist, released the following statement on the SEC’s proposed amendments to reporting requirements for advisers to hedge funds, liquidity funds, and private equity funds: “We applaud the Securities and Exchange Commission for […]
FOR IMMEDIATE RELEASE Monday, December 20, 2021 Contact: Doug Walker at 202-618-6430 or [email protected] WASHINGTON, D.C.— Today, Phillip Basil, Director of Banking Policy at Better Markets, issued the following statement on last Friday’s action by the Federal Reserve to approve three bank mergers: “The Federal Reserve’s late-day approval announcements of three bank mergers last Friday—as […]
FOR IMMEDIATE RELEASE Thursday, December 9, 2021 Contact: Doug Walker at 202-618-6430 or [email protected] Washington, D.C. – Stephen Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement on the district court’s decision in In re Goldman Sachs Group, Inc. Securities Litigation, issued yesterday and in line with our amicus brief filed […]
On Monday, October 4, 2021, the Supreme Court embarked on what the New York Times has called a “momentous” new term. In part that’s because the Court has agreed to hear a number of cases that will have an unusually profound impact on controversial social policies, including abortion and gun rights. But the Court’s docket […]
The Fed Continues to Stonewall the American People by Refusing to Disclose the Extent of Trading During the Pandemic by Fed Leaders and Staff WASHINGTON, D.C.— Today, Dennis Kelleher, Co-founder, President, and Chief Executive Officer of Better Markets, issued the following statement announcing the launch of a real-time clock on its website www.bettermarkets.org that […]
The Pandemic Trading Violated Clear Fed Policies and the Fed Must Tell The American People Who Else Traded During the Pandemic WASHINGTON, D.C.— Dennis Kelleher, Co-founder, President and Chief Executive Officer of Better Markets, released the following statement in connection with a letter he sent to Federal Reserve Chairman Powell: “The Federal Reserve appears to […]
WASHINGTON, D.C.— Dennis Kelleher, Co-founder, President and Chief Executive Officer of Better Markets, released the following statement regarding the Senate’s confirmation of Rohit Chopra as Director of the Consumer Financial Protection Bureau (CFPB): “We applaud the Senate for confirming Rohit Chopra as the new Director of the Consumer Financial Protection Bureau (CFPB). Mr. Chopra is […]
Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement regarding today’s announcement of Dan Berkovitz as General Counsel of the U.S. Securities and Exchange Commission (“SEC”): “Dan Berkovitz, the SEC next General Counsel, is highly qualified for this position given his decades of varied experience. His […]
WASHINGTON, D.C.— Dennis Kelleher, Co-founder, President and Chief Executive Officer of Better Markets, released the following statement in response to statements made by Chairman Jay Powell during testimony to the Senate today: “Federal Reserve Chair Powell’s responses and non-responses today to Senator Warren’s laudable line of questioning on his dangerous and irresponsible deregulations were misleading, […]
Chair Powell Must End the Cover Up and Come Clean With The American People: Disclose Everyone At The Fed Who Engaged in Pandemic Profiteering Trading WASHINGTON, D.C.— Dennis Kelleher, Co-founder, President and Chief Executive Officer of Better Markets, released the following statement in connection with the announcement that Boston Fed President Eric Rosengren is retiring […]
FOR IMMEDIATE RELEASE Monday, August 23, 2021 Contact: Doug Walker at 202-618-6430 or [email protected] WASHINGTON, D.C.—Dennis Kelleher, Co-founder, President and Chief Executive Officer of Better Markets, made the following statement in connection the release of a new Report entitled “Should Federal Reserve Chairman Jay Powell Be Reappointed”: As President Biden considers who should lead the […]
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