Public Citizen wrote the following using the language of Ralph Nader--i.e. speaking truth where it needs to be spoken:
In Japan, they know the meaning of shame.
Citigroup does wrong in Japan, and the CEO is forced to make a public bow of apology.
In the United States, when Citigroup does wrong, there's no apology - just subsidies, bailouts and bonuses.
Indeed, one year after it crashed the global economy, drained people's pensions and retirement savings, and threw millions out of work, Wall Street is back to business as usual - in Washington and Manhattan both, as I predicted at Wall Street and other rallies.
But one group is leading the charge against Wall Street, issuing a clarion call to rein in the banksters.
That's how long it took after the collapse of Lehman Brothers before the House of Representatives passed some financial reform legislation.
It's still pending in the Senate.
The long delay between the onset of the financial crisis and Congressional movement toward passage of the Wall Street Reform and Consumer Protection Act of 2009 did not well serve the cause of reform.
First, the good news.
Thanks in no small part to the work of Public Citizen, the bill would set up a consumer financial watchdog agency.
Ask your senators to support real financial reform
Congress is considering legislation to create a Consumer Financial Protection Agency to guard us against misleading and unfair credit cards, loans and mortgages. The big banks are spending hundreds of millions of dollars on lobbyists and public relations firms to oppose real consumer protections. Your senators need to hear from you about the need for reform to rein in Wall Street and allow our economy to grow sustainably.
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