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CNBC Posts Edited Video from House Financial Services’ GameStop Hearing, Deleting Dennis Kelleher’s Key Testimony Criticizing Citadel

FOR IMMEDIATE RELEASE Tuesday, March 23, 2021 Contact: Pamela Russell at 202-618-6433 or prussell@bettermarkets.com CNBC Posts Edited Video from House Financial Services’ GameStop Hearing, Deleting Dennis Kelleher’s Key Testimony Criticizing Citadel Washington, D.C.  –  Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement in response to revelations that CNBC […]

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Statement on Goldman DOJ 1MDB Settlement

FOR IMMEDIATE RELEASE Thursday, October 22, 2020 Contact: Pamela Russell at 202-618-6433 or prussell@bettermarkets.com Washington, D.C.  –  Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement in response to the announced settlement between the Department of Justice (DOJ) and the Goldman Sachs Group Inc. (Goldman) regarding its criminal conduct […]

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Department of Labor Is Using the Pandemic as a Pretext to Open High-Risk, High-Fees, High-Leverage Predatory Private Equity Investments to Retirees

FOR IMMEDIATE RELEASE  Wednesday, June 3, 2020 Contact: prussell@bettermarkets.com or 202-618-6433  Washington, D.C.  –  Dennis Kelleher, President and CEO of Better Markets, issued the following statement in response to today’s announcement by the Department of Labor on opening up defined contribution plan investments in private equity. “The last thing the Department of Labor should be doing is […]

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Better Markets Fact Sheet on the SEC’s Proposed Derivatives Rules

Although we express significant reservations about certain elements of the SEC’s proposal, in particular the abandonment of the asset segregation framework and the introduction of new proposed derivatives-related leverage limitations (the relative and absolute value-at-risk (VaR) approach), we support initial steps to implement a comprehensive regulatory framework for funds using derivatives-related leverage and posing derivatives-related risks to the […]

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Goldman’s Lloyd Blankfein Agrees with Better Markets

On March 2, 2020, former CEO and Chairman of Goldman Sachs, Lloyd Blankfein, tweeted the following regarding the Coronavirus crisis: “Good risk management: at this point, go all-in on social separation, and all-in on financial relief to those most economically vulnerable (individuals and sm biz).  Save the second guessing for later. I would welcome [it] if we […]

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The SEC’s Deregulation Would Harm the Quality of Financial Statements Which Would Make Enron-like Fraud More Likely, and the SEC is Using the Coronavirus as an Excuse to Deregulate in the Dark

FOR IMMEDIATE RELEASE Wednesday, March 11, 2020 Contact: Press at press@bettermarkets.com Washington, D.C.  –  Lev Bagramian, Senior Securities Policy Advisor of Better Markets, issued the following statement in advance of the Securities and Exchange Commission’s (SEC) final rule rolling back Sarbanes-Oxley’s 404(b)’s requirement that auditors attest to the adequacy of certain companies’ internal controls: “Today’s […]

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CFPB is Looking Out For Financial Predators Instead of Main Street

To protect Main Street Americans — consumers, investors, homeowners, students, soldiers, retirees and the elderly — from predatory financial behavior and financial instability that can lead to devastating financial crashes like 2008, the Dodd Frank law created the Consumer Financial Protection Bureau (CFPB).  It was designed to be and has been a powerful, independent and […]

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Banks’ Focus on Profits Shows Misplaced Priorities

Paul Volcker: Banks’ Focus on Profits Shows Misplaced Priorities When former Fed Chair Paul Volcker talks, people listen.  Or at least they ought to listen, as there are few public servants whose experience in both time and breadth can compare to Mr. Volcker.  In his recent interview with industry analyst Mike Mayo and the CFA Institute, […]

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With Trump Tax Cuts Big Banks Make Out Like Bandits, Leave Main St Pockets Empty

The big banks have reaped tens of billions of dollars thanks to the Trump tax cuts according to the fourth quarter report on bank performance by the Federal Deposit Insurance Corporation (FDIC). Banks garnered an astounding $28.8 billion in additional income, more than a third of their previous year’s income. This comes as reports continue to show that American […]

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