For Immediate Release Contacts: In Washington: Trevor FitzGibbon
January 13th, 2010 Ph: 202-406-0646

New Ads Demand Accountability for Financial Crisis

Target Former SEC Chair Christopher Cox for Negligence on Madoff Scandal

Commission Good Step, Not Enough

*** View Ad at http://www.AccountableAmerica.org***

Washington DC – Today the reform group Accountable America published full-page ads in Politico and Roll Call urging the Financial Crisis Inquiry Commission, meeting for it's first day of hearings, to hold ALL parties in the financial crisis accountable.

The ads, part of a larger campaign, highlight the failure of former Securities and Exchange Commission Chairman Christopher Cox to catch the fraud of convicted Ponzi-schemer Bernie Madoff, despite significant warnings to the SEC.

"It is time to put Wall Street and their allies on trial. Banks should be asked tough questions, but the officials who failed to protect the public must be held accountable," said Tom Matzzie, Chairman of Accountable America.

"It isn't partisan to point out that some people in positions to stop the crisis were ideologically opposed to tough protections. Christopher Cox appeared more committed to his long record helping Wall Street banks than protecting America's investors and the economy. And the SEC was too docile. The Angelides-Thomas Commission should tell this truth."

The ads are part of a larger campaign, begun in September by Accountable America, that includes TV advertising, print advertising and phone banks to educate and mobilize the public.

Accountable America was the only progressive group to advertise around advocacy issues in the NY-23 special election. The Wall Street candidate, Doug Hoffman, lost that race.

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