SOLD OUT REPORT:


Sold Out: How Wall Street and Washington Betrayed America

(PDF - 3 MB)

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Press Release and
News Coverage

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Executive Summary

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Highlights of the report's campaign contribution and lobbyist data

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Report Introduction by Harvey Rosenfield

WORKING PAPERS

Why U.S. Financial Markets Need a Public Credit Ratings Agency

This Wall Street Watch Working Paper emphasizes the significant role of the major private credit rating firms in creating the housing bubble and subsequent financial crash of 2007-2008. M. Ahmed Diomande, Secretary of the New York State Senate Finance Committee, and University of Massachusetts, Amherst Profesors James Heintz and Robert Pollin recommend the creation of a public credit ratings agency that would operate free of the perverse incentive system that distorts the work of private firms.

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Financial Concentration

In this Wall Street Watch Working Paper, Jane D’Arista of the Political Economy Research Institute at the University of Massachusetts, Amherst, details the industry concentration in the U.S. financial sector over the last several decades, analyzes the problem of “too big to fail” institutions, and recommends measures to address industry concentration.

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A Financial Precautionary Principle: New Rules for Financial Product Safety

This Wall Street Watch working paper by Professors James Crotty and Gerald Epstein, of the University of Massachusetts, Amherst, urges that complex financial products be required to obtain approval from a government regulatory authority before they can be marketed.

Download A Financial Precautionary Principle: New Rules for Financial Product Safety (PDF)

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