Again, I thank the chairmen, the ranking members, and their staff for putting this together. The resolution process for financial institutions is one of the pieces of unfinished business from the 2008 financial crisis, and we will finish some of that business hopefully before the year is out. The American people are hungry for us to do some good things in a spirit of bipartisanship, and they are getting that today.
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Does that make what the President did constitutional if it is unconstitutional?
In this economy, the last thing we need is to make it harder for businesses to operate and employ workers, and by that I mean legitimate businesses.
The intent of Operation Choke Point may have carried a purpose that we would all agree with, and that is to prevent financial fraud.
The program also can deny legitimate merchants access to financial networks they need to survive.
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