Senator Wyden cracking down on deceptive Wall Street investments
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May 5
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Posted . |
Standing up for American consumers, Senator Ron Wyden is pushing to ban Wall Street banks and finance firms from secretly betting against the same investments they're selling clients.
Since the Wall Street meltdown, several press accounts have detailed how banks were profiting from selling shaky investments, while at the same time also cashing in by betting those investments would fail.
Senator Wyden's proposal would end the practice, requiring Wall Street treat investors fairly.
"What I am most interested in is the question of transparency and accountability to American consumers and institutions," Senator Wyden said during a recent Congressional hearing.
Watch the video below to learn more:
(video courtesy of FireDogLake)
Posted on May 5, 2010.
