Political Quotes

On the recordMay 20, 2010
tonight we are nearing the end of the Senate's consideration of a historic piece of legislation. In response to the most significant financial crisis this country has seen in a generation, we have been engaged in a debate about the future of our financial system. Two years ago, our economy came to a grinding halt. Credit markets shut down, business activity basically stopped in some areas, and world trade virtually collapsed. Millions of Americans lost their jobs and their homes, and they saw trillions in savings wiped out. As a witness to the near collapse of our financial system and the economic devastation it has wrought, I am fully aware of the fundamental importance of the legislative effort we will soon complete. Because the financial system serves as the heart of our economy, this legislation will have a profound effect on the economic future of this country. The decisions we have made will have an impact on the lives of Americans for decades to come. Furthermore, the impact of this legislation will extend far beyond our shores. For these reasons, I believe we must get it right. In the end, we will be judged by whether we have created a more stable, durable, and competitive financial system. That judgment will not be rendered by self-congratulatory press releases, but, rather, by the marketplace. And the marketplace does not give credit for good intentions.
Said by
Richard Shelby
Republican · Alabama

Editor's note · Context

The speaker addresses the Senate's consideration of financial reform legislation in response to a major financial crisis.

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