Skip to main content

Category: Op-Eds

Hill Op-ed: Preserve bipartisan independent agencies to serve all Americans

The following op-ed by Dennis Kelleher appeared in The Hill on March 28, 2025. The Federal Trade Commission (FTC), like many independent agencies, is run by a bipartisan commission comprised of three members of the party that controls the White House and two members of the minority party. Last week, President Trump fired without cause […]

Read More

Open Banker Op-ed- Forget Myths: The Stablecoin Reality

The following op-ed by Better Markets Policy Director & COO Amanda Fischer appeared in Open-Banker on March, 20, 2025.  Picture this: you’re sitting on your couch eating leftovers and a late-night infomercial comes on the television. The hosts lures you in by asking, “Do you love the risk of money market funds but hate earning a […]

Read More

American Banker op-ed -Will California’s Wildfires Spark a Banking Crisis?

The Following op-ed ran in American Banker on Monday, February 3, 2025 By Shayna Olesiuk, Director of Banking Policy For years, Californians have feared “The Big One,” a massive earthquake that could wreak havoc on the state. However, the devastation of entire communities in Southern California in recent weeks suggests that wildfires are an even […]

Read More

FT Op-ed: Kamala Harris should not cave to overtures from the crypto crowd

By Dennis Kelleher The op-ed can also be found here.  After years of crypto kingpins being handcuffed and sent to prison, numerous spectacular bankruptcies, rampant fraud and manipulation, breathtaking volatility and a long list of lost court cases, the crypto industry is nonetheless riding high in the US. That’s partly because it has a huge […]

Read More

Politico Op-ed- Why Is the Government Encouraging a Taxpayer Bailout?

The following op-ed appeared in Politico. by MARK CALABRIA, TOM HOENIG, DENNIS KELLEHER and AARON KLEIN The four names at the top of this essay are an unusual combination. You may or may not know who we are, but the four of us have spent decades arguing with each other in public and private particularly before, during, and after the […]

Read More

Well-capitalized banks are good for everyone, except Wall Street CEOs

This Op-Ed was published on the American Banker website.  Well-capitalized large banks are essential for a strong banking sector, financial system and economy where Main Street families, businesses and community banks can thrive. That’s because appropriately capitalized banks are strong enough to continue providing credit through the economic cycle, in good times and bad, which keeps […]

Read More

Regulators Still Aren’t Serious About Ending Too Big to Fail

This Op-Ed was published on the Barron’s website. The catastrophic 2008 financial crisis was caused by Wall Street banks that were big, complex, leveraged, interconnected, and systemically important. They were so big that elected officials, policymakers, and regulators faced a difficult choice: bail them out with taxpayer money or let them fail and risk precipitating […]

Read More

2 threats facing today’s investors—and the regulatory response

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 […]

Read More

Op-Ed in San Francisco Chronicle: Main Street Needs True Robin Hood

WASHINGTON, D.C.— In a San Francisco Chronicle Op Ed published today, Better Markets’ President and CEO Dennis Kelleher details financial firm Robinhood’s predatory practices and the need for a “Real Robin Hood” on Wall Street that actually “provides Main Street investors genuine opportunities to affordably trade, invest and build wealth.” The full Op Ed can be […]

Read More

Racial Justice Op-Ed in American Banker: Financial Market Regulators Can Do More to Tackle Racial Economic Inequality

WASHINGTON, D.C.— Better Markets’ President and CEO Dennis Kelleher and Dedrick Asante Muhammad, Chief of Membership, Policy and Equity at the National Community Reinvestment Coalition, highlight the urgent need for financial market regulators to address racial economic inequality and lay out steps to tackle these persisting issues in an Op Ed in the American Banker. […]

Read More

Why Jay Powell has been a ‘dangerous man’ at the Fed

This Op-Ed was posted in the Financial Times In a recent hearing, Senator Elizabeth Warren told US Federal Reserve chairman Jay Powell that he is “a dangerous man” and that she would not support his renomination to head the central bank. Warren said deregulation supported by Powell over the past four years has undermined the […]

Read More

Next Fed Supervision Vice Chair Must Restore Bank Oversight

By Phillip Basil, Better Markets Director of Banking Policy (Published in Law360, October 7, 2021) The last four years were bad for bank supervision and regulation. The priorities were to weaken regulations and to soften supervision to make it fairer and less assertive to banks. Indeed, as a Wall Street Journal headline put it in […]

Read More

The Agenda for New SEC Chairman Gary Gensler

By Dennis Kelleher, Co-founder, President and CEO of Better Markets (The op-ed originally appeared in the Financial Times—condensed for length and subscription required. The complete op-ed is below.) Gary Gensler, the former Chairman of the Commodity Futures Trading Commission (CFTC) and former partner at Goldman Sachs, was sworn into office Saturday, April 17, 2021, as the new Chairman of […]

Read More

The Agenda the SEC Faces & America Needs

The Financial Times published an op-ed by Dennis Kelleher on the SEC agenda under new Chairman Gary Gensler. You can read it here (subscription required), but, due to space, the submitted op-ed was cut. Click on the link below for the full op-ed.

Read More

Op-Ed: It’s Time to Ramp Up Punishment for Wall Street Wrongdoers

While GameStop’s meteoric rise fueled by the Reddit Revolution and Robinhood’s retail army is capturing headlines, the biggest Wall Street banks get little attention as they continue a much more shocking, but less visible crime spree. This is the premise of an opinion piece by President and CEO Dennis Kelleher which recently ran in Law360 […]

Read More

Don’t mess with rules curbing derivatives risk

By Dennis Kelleher and Joseph R. Cisewski (this op-ed originally appeared in American Banker) Derivatives dealing and trading can be high-risk activities with catastrophic financial and economic consequences, as learned during the 2008 financial crisis. Many derivatives are not only dangerous in itself but serve as a key transmission mechanism for spreading risk. Too often, […]

Read More

The economic answers voters want from the presidential candidates

By Dennis Kelleher (this op-ed originally appeared in The Hill) The economy is one of the most important issues to American voters, regardless of party affiliation. This makes sense given how much economic stress and distress tens of millions of American families are suffering. They are working harder and harder for less and less, barely […]

Read More

OP-ED: Wall Street should support an Elizabeth Warren for president

By Dennis Kelleher (this op-ed originally appeared in The Hill) America’s 2020 choices are similar to those it faced in the 1930s. Then, over Wall Street bankers’ fierce and short-sighted opposition, Americans chose Franklin Delano Roosevelt, who saved capitalism from itself. Then, as now, Wall Street’s greed, recklessness and pervasive illegal activities caused a financial and economic catastrophe […]

Read More

OP-ED: Wells Fargo Needs a Retail Banker at the Helm

(this op-ed originally appeared in American Banker) Before it became a customer predator, Wells Fargo was America’s bank, focused on lending to and serving Main Street families and businesses for more than 160 years. That was in stark contrast to Wall Street’s bailed-out, too-big-to-fail banks, which remain too focused on high-risk, bonus-boosting trading and capital […]

Read More

OP-ED: Payday Loan Industry Corrupting CFPB Rulemaking Process

(this op-ed originally appeared in The Hill) The Consumer Financial Protection Bureau (CFPB) has been an effective watchdog for consumers. However, since President Trump was elected, it has increasingly been protecting financial predators rather than financial consumers.   The CFPB’s recent announcement that it was overhauling the payday lending rule is the latest example of that transformation. Better Markets recently detailed how the CFPB’s proposal would […]

Read More

Congress Must Enact an “Equifax Rule” Requiring Hack Disclosure

By Dennis Kelleher (this op-ed originally appeared in The Hill) More than a year has passed since the American people belatedly learned about the shocking Equifax breach that exposed more than 145 million Americans’ personal information to the dark web where identities are sold and stolen.  Now, a year later, nothing has been done to […]

Read More

Op-ed: CFPB Protecting Financial Predators Instead Of Main Street

by Dennis Kelleher (originally appeared in The Hill) 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 […]

Read More

An Agenda That Prioritizes Main St, Not Wall St

Having won control of the House, Democrats need to push a robust policy agenda that concretely connects with Main Street Americans who care about their jobs, wages, benefits, savings, investments, homes, retirements and so much more. Their quality of life and standard of living must be the guideposts. The powerful House Financial Services Committee should […]

Read More

Judging 2020 Candidates: Look for Courage and Action

As Sen. Elizabeth Warren announces her intent to run for the 2020 Democratic nomination, it’s a good time to start thinking about how to think about the candidates and how to think about the reporting on the candidates.  Regardless of which party or who you support, it’s important to remember that talk is cheap and […]

Read More

High Court Should Hold Securities Fraudsters Accountable

By  Stephen Hall (this op-ed first appeared in Law360 on November 30, 2018) Consider the following scenario: An investment banker circulates multiple emails to investors knowing that they contain three outright lies: (1) that the company seeking funds “has over $10 million in confirmed assets;” (2) that the company “has purchase orders and letters of intent for over […]

Read More

New York Times: MetLife and the Threat to Dodd-Frank

“The federal court decision last week to remove the “too big to fail” label from MetLife, the insurance giant, may or may not turn out to be a factor in a future financial crisis. But it is a setback to regulation intended to protect the economy from the inherent risks of an undersupervised financial system.” […]

Read More

Financial Times: Rules to recoup US bank bonuses need tightening

“Since the financial crisis, shareholders and regulators have taken aim at pay and bonuses. They have identified ill-designed pay packages as a factor in encouraging unnecessary risk-taking by bankers and have pushed for restrictions on future pay to deter such recklessness.” “Investors in JPMorgan, Citigroup and Bank of America are proposing that senior staff set […]

Read More

Don’t miss this must-read editorial from former Governor and U.S. Senator Bob Graham and Chairman of the Financial Crisis Inquiry Commission Phil Angelides: Much More Work to Prevent Another Financial Meltdown

The Financial Crisis Inquiry Commission (FCIC) was a ten member bipartisan panel created by federal law and charged with conducting the nation’s official inquiry into the causes of the 2008 financial crash, the worst crash since the Great Crash of 1929 which caused the worst economy since the Great Depression of the 1930s. The Commission […]

Read More

Deregulating Corporate America

“If you think Congress is hopelessly divided on party lines on every issue, think again. When it comes to regulating — more precisely, deregulating — corporate America, Republicans and Democrats are all too eager to find common ground. “This week a bipartisan group of senators — four Republicans, three Democrats and one independent — is […]

Read More

Heed the fears of the financial markets

“OIften markets are volatile at the end of a year and then settle down as a new year begins. Not this year. US and European markets closed lower on Friday after a very rough week despite a strong US jobs report. The week saw dramatic declines in China’s stock market and currency. Oil prices fell […]

Read More

Hillary Clinton: How I’d Rein In Wall Street

“SEVEN years ago, the financial crisis sent our economy into a tailspin. Over five million people lost their homes. Nearly nine million lost their jobs. Nearly $13 trillion in household wealth was wiped out. “Under President Obama, our economy has come a long way back. Our businesses have created more than 13 million jobs. People’s […]

Read More

The G.O.P.’s Worst Budget Riders

“The short-term spending bill that is financing federal government operations will expire on Dec. 11, and unless Congress and President Obama agree on another extension or a final bill, there will be a shutdown. “In September, far-right Republicans in the Freedom Caucus were willing to shut down the government rather than allow federal spending on […]

Read More

The Risk in Rolling Back Wall Street Reform

“A few weeks ago, Democrats and Republicans in Congress came together to pass a two-year budget agreement. The compromise lifts the spending caps imposed by sequestration to allow for meaningful investments in the middle class and keeps our economy moving forward. Congress can build on this progress in coming weeks by passing legislation to keep […]

Read More

We were wrong about universal banking

“Hardly a week goes by without headlines blaring another restructuring by a big European bank, or the replacement of its management. Deutsche Bank and Barclays are the latest to announce big changes. They follow UBS, Standard Chartered, Royal Bank of Scotland, Credit Suisse and more. “The cause of all this turmoil is the banks’ quest […]

Read More

Elizabeth Warren: We Helped the Big Banks. Why Not Puerto Rico?

“Elizabeth Warren had a message for the Obama administration today: Be as creative in finding a solution for the 3.5 million American citizens in Puerto Rico as you were in protecting bank profits after the 2008 crisis. “The issue arose in a Senate Energy and Natural Resources Committee hearing on Thursday morning about the island […]

Read More

How Not to Fix Fannie and Freddie

“The recent push to recapitalize Fannie Mae and Freddie Mac and release them from conservatorship is misguided. “Proponents of the “recap and release” proposal claim homeowners and taxpayers would benefit if the federal government ceded control of the mortgage finance giants to private shareholders. “Just the opposite is true. Recap and release could raise the […]

Read More

Democrats, Republicans and Wall Street Tycoons

“Hillary Clinton and Bernie Sanders had an argument about financial regulation during Tuesday’s debate — but it wasn’t about whether to crack down on banks. Instead, it was about whose plan was tougher. The contrast with Republicans like Jeb Bush or Marco Rubio, who have pledged to reverse even the moderate financial reforms enacted in […]

Read More

Beware of the liquidity delusion

“Is the fragility of market liquidity a reason for concern? The “flash rally” in US Treasury bonds in October 2014 and the “German tantrum” in April 2015 show that dislocations can occur even in markets for highly liquid assets. A rise in US interest rates might cause more disruption. Some add that new regulations constrain […]

Read More

Is Your Financial Adviser Making Money Off Your Bad Investments?

“Earlier this year the Obama administration proposed a “conflict of interest” rule, designed to ensure that when it comes to saving for retirement, financial advisers always put their clients’ interests above their own — instead of, say, nudging their clients into investment products that pay the advisers more for their recommendation, but offer less return […]

Read More

The Rage of the Bankers

“Last week the Federal Reserve chose not to raise interest rates. It was the right decision. In fact, I’m among the economists wondering why we’re even thinking about raising rates right now. “But the financial industry’s response may explain what’s going on. You see, the Fed talks a lot to bankers — and bankers reacted […]

Read More

Contact Us

For media inquiries, please contact [email protected] or 202-618-6433.

To sign up for our email newsletter, please visit this page.

Name(Required)
This field is for validation purposes and should be left unchanged.

Sign Up — Stay Informed With Our Monthly Newsletter

"* (Required)" indicates required fields

This field is for validation purposes and should be left unchanged.

For media inquiries,

please contact [email protected] or 202-618-6433.

Donate

Help us fight for the public interest in our financial markets, protecting Main Street from Wall Street and avoiding another costly financial collapse and economic crisis, by making a donation today.

Donate Today