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Washington Watch

A Song's in the Air on the Hill

AARP representatives recently distributed 400 singing cards on Capitol Hill to show support for proposed legislative curbs on Wall Street. The jingle targeted banks with the message, “We’re tired of playing your game.” 

AARP is encouraging Congress to finish work on legislation that was prompted by the 2008-09 financial crisis and recession. The House passed an ambitious bill last fall that provided greater scrutiny for banks and investment houses, and created an independent consumer protection agency. In the Senate, AARP’s efforts focused on protecting consumers from a repeat of Wall Street excesses and their consumer impact.

“Older Americans have lost billions of hard-earned dollars due to the failure of an outdated and compromised financial regulatory system,” says Nancy LeaMond, AARP’s executive vice president for policy. “Investors deserve to know the benefits and the risks involved in the products they are buying, and their retirement security should not be compromised by reckless behavior on the part of bad actors.”

AARP worked with Republicans and Democrats in both houses. The endeavor also included radio, TV and newspaper ads in 12 states.

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