FCIC Report Exposes Reckless Wall Street As The Real Job Killers: U.S. Chamber Attacks Report as New "Wikileaks"

 By Mary Bottari
From Center on Media and Democracy
January 27, 2011

The Real Job Killers

The U.S. Chamber is in panic mode for two reasons. One, the FCIC report details in its 576-page report who the real job killers are: reckless Wall Street financial firms and negligent government officials who took a series of specific actions that resulted in 30 million unemployed and underemployed Americans who are still barely scraping by.

They are also panicked because the Dodd-Frank Wall Street reform law is kicking in to high gear. Federal banking agencies are issuing new rules under the act that will clamp down on some of the reckless behavior in the big banks, mortgage services and other financial firms. Unbelievably, the Chamber is fighting hard to protect the lucrative shadow banking industry from being dragged into the sunlight, rigorously protesting the new transparency, capital and margin requirements for all over the counter derivatives traders.

This week the Chamber released an amusing art work, placing the array of Dodd Frank rules into a graphic chart full of polka dots. Our friends at U.S. Chamber Watch noted: "Although the Chamber has unveiled this pointless pointillist masterpiece, (probably being secretly funded by the big banks that, left unregulated, led to the recession in the first place), it still has yet to release a substantive plan for jobs or avoiding future financial meltdowns."

Buy the FCIC report today on the web or at your local bookstore, and call the U.S. Chamber of Commerce toll-free and tell them what you think of their foray into modern art. U.S. Chamber of Commerce Customer Service: 1-800-638-6582.:"