Vitter Disappointed in SEC Decision, Will Continue Fighting to Help Stanford Ponzi Victims
(Baton Rouge, La.) - U.S. Sen. David Vitter (R-La.) spoke out against the U.S. Securities and Exchange Commission (SEC) for not appealing a court decision which ruled that thousands of victims of the Stanford Ponzi scheme were ineligible to file claims to recoup their losses.
Read MoreSenators Warren and Vitter, and Congressmen Garrett and Capuano Lead Bipartisan, Bicameral Letter Urging Fed to Strengthen Restrictions on Emergency Lending Authority
ICYMI: Too-Big-to-Fail Is Still Too Dangerous
Last week the Government Accountability Office (GAO) released the results of a comprehensive study requested by U.S. Sens. Sherrod Brown (D-OH) and David Vitter (R-LA) in 2013. The study confirmed that Wall Street megabanks have not only received more support from government bailout programs, but enjoy a taxpayer-funded advantage over community and regional banks that widens during times of economic crisis.
Read More“Too Big to Fail” Has Not Ended
Vitter, Brown on Bloomberg: Wall Street Megabanks Receive Taxpayer-Funded Advantage
ICYMI: Brown and Vitter on Bloomberg say GAO Report Confirms Too Big To Fail Alive and Well
U.S. Sens. Sherrod Brown (D-OH) and David Vitter (R-LA) today discussed the results of a comprehensive study released by the Government Accountability Office (GAO) confirming that Wall Street megabanks have not only received more support from government bailout programs, but enjoy a taxpayer-funded advantage - over community and regional banks – that widens during times of economic crisis. Brown and Vitter requested the report in 2013.
Read MoreVitter and Brown: GAO Report Confirms Wall Street Megabanks Receive Taxpayer-Funded Advantage that Widens at Times of Crisis
Today, the Government Accountability Office (GAO) released the results of a comprehensive study confirming that Wall Street megabanks have not only received more support from government bailout programs, but enjoy a taxpayer-funded advantage – over community and regional banks – that widens during times of economic crisis.
Read MoreICYMI: Four years later, Dodd-Frank continues 'Too Big to Fail' (Op-Ed by Sen. Vitter in The Hill)
Excerpts: “But four years later, we still have the opportunity to correct course. By focusing on simpler, more targeted and systemic reforms like increased capital standards, we can create much greater protection against future bank failures and the taxpayer-funded bailouts that would follow. We can truly end “Too Big To Fail” once and for all.”
Read MoreVitter: Appeal for Stanford Ponzi Scheme Victim Fails, Highlights Need to Reform SIPC
( U.S. Sen. David Vitter (R-La.) today made the following statement after the Securities and Exchange Commission (SEC) lost an appeal to compel the Securities Investor Protection Corporation (SIPC) to recoup money for the victims of a Ponzi scheme run by financier Allen Stanford.
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