The Daily Show
March 16, 2010
Chris Dodd announces his own financial reform legislation, and Jon pretends he’s a corporation.
March 2, 2010
Ralph Nader on the GOP Filibuster of Unemployment Benefits Bill, the Collapse of the Consumer Financial Protection Agency Proposal, and the Latest Auto Recalls
Senate Republican Jim Bunning is continuing to filibuster a key spending bill to extend unemployment benefits for hundreds of thousands of American workers. The blocked bill also affects several governmental agencies, rural television customers and doctors receiving Medicare payments. At the same time, Senate Banking Committee Chair Christopher Dodd has abandoned an idea proposed by President Obama and favored by consumer groups to create an independent Consumer Financial Protection Agency to protect consumers against abuses in mortgages, credit cards and other forms of lending. Meanwhile, General Motors announced today it is recalling 1.3 million compact cars in North America because of a power steering problem that has been linked to fourteen crashes. GM blamed the fault on a supplier partially owned by Toyota. We speak to longtime consumer advocate Ralph Nader. [includes rush transcript]
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The Nader Page
March 2, 2010
On January 19, 2010, I wrote to you about news reports that you were considering dropping the proposal to create an independent and free-standing Consumer Financial Protection Agency (CFPA). In the last few days news reports indicate that you are advancing the notion that the CFPA should be housed within the Federal Reserve. The Federal Reserve is always a step short and a day late in protecting consumers. To house the CFPA within the Federal Reserve is to doom it to failure.
As I said in that letter,
by Ralph Nader
The Nader Page
Jan. 8, 2010
The retiring of veteran Democratic Senators, Christopher Dodd, age 65, of Connecticut and Byron Dorgan, age 67, of North Dakota, have some short and long term consequences for the Democratic Party and its members.
Senator Dodd’s announcement that he was finished did not surprise me. He was going through difficult times with his health, the loss of his closest sibling, and his closest friend in the Senate – Ted Kennedy – and was not inclined to battle through an uphill fight for re-election. 2010 is, arguably, the most important legislative year of his career for financial and health insurance reforms.
By Kevin G. Hall and David Lightman
Nov. 10, 2009
WASHINGTON — A key Senate committee chairman unveiled a sweeping 1,136-page bill Tuesday that, if enacted, would mandate the most comprehensive overhaul of financial regulation since the Great Depression.
The legislation would affect both average Americans and the well-heeled on Wall Street. It would bring unregulated entities such as hedge funds under closer supervision, give the government the power to shut down large financial firms, and merge numerous federal banking regulators under a single roof.