Exposing Pandemic Profiteering at American’s Central Bank, Leadership Failures & Cover Up As hundreds of thousands of Americans were dying and tens of millions were being thrown out of work due to a catastrophic pandemic that gripped the country with fear, some of the most senior officials at the U.S. central bank – the Federal […]
WASHINGTON, D.C.—Legal Director and Securities Specialist Stephen Hall issued the following statement on the filing of Better Markets’ Comment Letter to the Securities and Exchange Commission (SEC) in response to the agency’s proposal on additional money market fund (MMF) reforms: “The stable NAV, which is still maintained by many MMFs, is a fiction bordering on […]
WASHINGTON, D.C.—Legal Director and Securities Specialist Stephen Hall issued the following statement on the filing of Better Markets’ Comment Letter to the Consumer Financial Protection Bureau (CFPB) in response to the agency’s request for information on junk fees: “Every year, bank and non-bank financial institutions charge tens of billions of dollars in fees to consumers. […]
WASHINGTON, D.C.—Legal Director and Securities Specialist Stephen Hall issued the following statement on the filing of Better Markets’ Comment Letter to the Securities and Exchange Commission (SEC) in response to the agency’s proposal to shorten the securities settlement cycle: “The complicated mechanics of the securities markets are largely hidden from public view, but they have […]
Washington, D.C. – Dennis M. Kelleher, President and Chief Executive Officer of Better Markets, issued the following statement in response to the jury verdict in the trial of former Goldman Sachs’ junior partner in connection with the global money laundering scandal and looting of 1Malaysia Development Berhad (1MDB): “The jury verdict convicting a single junior […]
WASHINGTON, D.C.— Today, Legal Director and Securities Specialist Stephen Hall issued the following statement on the release of Better Markets’ newest report: The SEC Must Stop Bleeding Public Markets Dry: “Over the last several decades, the SEC’s steadily expanding exemptions from the registration requirements in the U.S. securities laws have shifted capital-raising activities between two […]
WASHINGTON, D.C.— Today, Legal Director and Securities Specialist Stephen Hall released the following statement in response to the U.S. Senate’s confirmation of Judge Ketanji Brown Jackson to the U.S. Supreme Court: “We are pleased that the U.S. Senate has confirmed Judge Ketanji Brown Jackson to join the U.S. Supreme Court, making history as the first […]
Date: Wednesday, April 6, 2022 To: Interested Parties Subject: Information on Goldman Sachs’ Role in the Egregious 1MDB Global Crime Spree as the Trial of Former Goldman Sachs’ Partner Ng Goes to the Jury Event: Justice Dpt. prosecution of Goldman Sachs’ former partner goes to jury with a verdict expected this week. From: Evelyn Swan, […]
WASHINGTON, D.C.—Legal Director and Securities Specialist Stephen Hall issued the following statement on the filing of Better Markets’ Comment Letter to the Securities and Exchange Commission in response to the agency’s proposal to rein in abusive insider stock trading: “In light of the well-documented history of abuses involving insider trading by executives acting under the […]
WASHINGTON, D.C.—Legal Director and Securities Specialist Stephen Hall issued the following statement on the filing of Better Markets’ comment letter to the Securities and Exchange Commission (SEC) in response to the agency’s proposal on share repurchases, also known as stock buybacks: “Stock buybacks have grown substantially in recent years and with that trend has come increasing public […]
A mildly amusing truism in football is that, often, “[n]o player is more popular on a team than the backup quarterback.” In other words, football fans (particularly of lousy teams) are almost constantly clamoring for something different, convinced that a new approach, as represented by a new quarterback, will solve whatever problems are plaguing the […]
WASHINGTON, D.C.— Dennis Kelleher, President and CEO of Better Markets, issued the following statement regarding Sen. Manchin’s reported opposition to Sarah Bloom Raskin for Vice Chair for Supervision at the Federal Reserve: “Sen. Manchin claims to have “carefully reviewed Sarah Bloom Raskin’s qualifications and previous public statements” and, based on that review, announced his opposition […]
WASHINGTON, D.C.— Phillip Basil, Director of Banking Policy at Better Markets, issued the following statement around today’s release of Better Markets Fact Sheet on Cryptocurrencies: “Over the last couple years, the size of the cryptocurrency industry has grown massively, as has the attention given to it from the public, financial markets and institutions, lawmakers, and […]
WASHINGTON, D.C.— Dennis Kelleher, President and CEO of Better Markets, issued the following statement regarding the Executive Order issued today by President Biden to ensure responsible innovation in digital assets: “As Justice Brandeis said, “sunlight is the best disinfectant” and lots of disinfectant is needed in the dark and unregulated crypto and digital asset space. […]
WASHINGTON, D.C.—Phillip Basil, Director of Banking Policy, issued the following statement on the filing of a Better Markets Comment Letter in response to the Basel Committee on Banking Supervision’s Consultative Document “Principles for the effective management and supervision of climate-related financial risks”. “Better Markets applauds the publication of these principles as an important step in […]
WASHINGTON, D.C.—Phillip Basil, Director of Banking Policy, issued the following statement on the filing of Better Markets comment letter to the Antitrust Division of the Department of Justice on their request for comment on enhancing the 1995 Bank Merger Competitive Review Guidelines. “Better Markets urges the DOJ and the banking regulatory agencies to work together […]
FOR IMMEDIATE RELEASE Thursday, February 3, 2022 Contact: Evelyn Swan at 202-618-6433 or [email protected] WASHINGTON, D.C.—Dennis Kelleher, Co-founder, President and Chief Executive Officer of Better Markets, issued the following statement following the Senate Banking Committee hearing today on President Biden’s nominations of Sarah Bloom Raskin, Lisa Cook and Philip Jefferson to serve on the Federal […]
The new year is off to a rocking start, with lots of activity focused particularly on the Federal Reserve, which impacts the wallets and pocketbooks, lives and livelihoods of every American family. Anyone with a job, home, savings or checking bank account, credit or debit card, or loan of any type (student, mortgage, auto, personal, small […]
FOR IMMEDIATE RELEASE Monday, January 31, 2022 Contact: Evelyn Swan at 202-618-6433 or [email protected] WASHINGTON, D.C.—Dennis Kelleher, Co-founder, President and Chief Executive Officer of Better Markets, issued the following statement in connection with the release of a Fact Check Memo detailing critics’ distortion of Sarah Bloom Raskin’s statements regarding climate, which align with Chair Powell, […]
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 Thursday, January 20, 2022 Contact: Doug Walker at 202-618-6430 or [email protected] WASHINGTON, D.C.—Stephen Hall, Legal Director and Securities Specialist, issued the following statement on release of a new report on the SEC Whistleblower Program: “Established by the 2010 Dodd-Frank Act, the SEC’s whistleblower program has amassed an impressive, decade-long record as an […]
As we said at the beginning of 2021, President Biden’s first term is going to be over before you know it and one quarter of it already is. While much has been accomplished, too many of administration’s initiatives and nominees have languished in the Senate, mostly due to obstruction unrelated to the merits. Regardless of […]
FOR IMMEDIATE RELEASE Friday, January 14, 2022 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, released the following statement in response to President Biden’s nomination of Sarah Bloom Raskin, Lisa Cook and Philip N. Jefferson to serve on the Federal Reserve Board: “We applaud […]
FOR IMMEDIATE RELEASE Tuesday, January 11, 2022 Contact: Doug Walker at 202-618-6430 or [email protected] WASHINGTON, D.C.—Legal Director and Securities Specialist Stephen Hall issued the following statement on the filing of Better Markets’ Comment Letter to the Securities and Exchange Commission in response to the agency’s proposal to require the reporting and public dissemination of key data about […]
FOR IMMEDIATE RELEASE Monday, January 10, 2022 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, issued the following statement in response to the announced resignation of Federal Reserve’s Vice Chair Clarida: “Federal Reserve Vice Chair Richard Clarida’s conduct in seeking to personally profit […]
FOR IMMEDIATE RELEASE Thursday, January 6, 2022 Contact: Doug Walker at 202-618-6430 or [email protected] WASHINGTON, D.C.—Legal Director and Securities Specialist Stephen Hall issued the following statement on the filing of Better Markets’ Comment Letter to the Consumer Financial Protection Bureau on its proposal to require financial institutions to collect and report demographic and other data […]
FOR IMMEDIATE RELEASE Thursday, January 6, 2022 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, issued the following statement in connection with the New York Times story today about Federal Reserve’s Vice Chair Clarida’s amended trading disclosure: “The New York Times’ explosive story […]
Hard to believe, but 2022 is here! We ended 2021 with a bang and are looking forward to the challenges of 2022 and we hope you are too. First, thank you to everyone who financially supported Better Markets in 2021. As a 501c3 nonprofit, we only exist and can only fight for Main Street families, […]
FOR IMMEDIATE RELEASE Tuesday, December 28, 2021 Contact: Doug Walker at 202-618-6430 or [email protected] WASHINGTON, D.C.—Legal Director and Securities Specialist Stephen Hall issued the following statement on the filing of Better Markets’ comment letter to the Securities and Exchange Commission regarding its proposal to rescind Trump-era requirements that unnecessarily burden proxy advisory firms: “We support […]
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 Wednesday, December 15, 2021 Contact: Doug Walker at 202-618-6430 or [email protected] WASHINGTON, D.C.—Stephen Hall, Better Markets’ Legal Director and Securities Specialist, released the following statement on the filing of a comment letter to the U.S. Securities and Exchange Commission in support of a proposed rule that will enhance transparency in the way […]
FOR IMMEDIATE RELEASE Thursday, December 9, 2021 Contact: Evelyn Swan at 202-618-6433 or [email protected] WASHINGTON, D.C.— Today, Dennis Kelleher, Co-founder, President, and Chief Executive Officer of Better Markets, issued the following statement on today’s action by the FDIC to issue a request for information from the public regarding its bank merger policies: “We applaud the FDIC […]
FOR IMMEDIATE RELEASE Tuesday, November 2, 2021 Contact: Evelyn Swan at 202-618-6433 or [email protected] WASHINGTON, D.C.— Today, Phillip Basil, Director of Banking Policy at Better Markets, issued the following statement regarding the publication of our new report, Climate Change and the Banking System: “As world governments debate national commitments to address the global climate change […]
WASHINGTON, D.C.— Today, Dennis Kelleher, Co-founder, President, and Chief Executive Officer of Better Markets, issued the following statement regarding the Federal Reserve’s announced new trading policies: “The changes announced today by the Federal Reserve are long overdue and a good start, but don’t go far enough. First, the policies must be broader and apply to […]
WASHINGTON, D.C.— Today, Dennis Kelleher, Co-founder, President, and Chief Executive Officer of Better Markets, issued the following statement regarding the revelations that Federal Reserve Chair Jay Powell traded during the pandemic in 2020: “It was reported yesterday that the most senior leader of the U.S. central bank, Federal Reserve Chair Jay Powell, had substantial personal […]
Washington, D.C. – Stephen Hall, Legal Director and Securities Specialist for Better Markets, issued the following statement on the swearing-in of Rohit Chopra as the new Director of the Consumer Financial Protection Bureau (CFPB): “With Director Chopra officially installed as the CFPB’s Director, we can rest assured that the agency will once again fulfill its […]
FOR IMMEDIATE RELEASE Friday, October 8, 2021 Contact: Doug Walker at 202-618-6430 or [email protected] WASHINGTON, D.C.—Phillip Basil, Better Markets Director of Banking Policy, released the following statement on a new report, The Agenda for the Fed’s Next Vice Chair for Supervision: “When the term of Federal Reserve Vice Chair for Supervision Randal Quarles expires on […]
WASHINGTON, D.C.— Dennis Kelleher, Co-founder, President, and Chief Executive Officer of Better Markets, released the following statement in response to the SEC investigation of Federal Reserve leaders’ trading during the pandemic and confirmation of applicability of insider trading laws to those in government: “As SEC Chairman Gensler testified at the House Financial Services Committee (quoted […]
The American People Deserve to Know if Laws Were Broken WASHINGTON, D.C.—Dennis Kelleher, Co-founder, President, and Chief Executive Officer of Better Markets, released the following statement on reporting that the Fed is working with the Office of Inspector General in its review of trades made by senior central bank officials during the pandemic: “We welcome […]
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, […]
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