Political Quotes

“I thank Mr. Rangel for yielding. Mr. Speaker, I rise to oppose H.R. 4, the so-called Jobs for America Act. Six years ago this week marked the collapse of Lehman Brothers. That bankruptcy on Wall Street quickly spread across our country, bringing small business lending to a halt, causing a devastating number of foreclosures, and pushing far too many of our fellow Americans into personal bankruptcy. In the wake of this devastation, Democrats in Congress worked diligently to put in place serious and comprehensive safeguards to prevent another collapse. And, today, my Republican colleagues continue their hard work to thwart that effort and roll back meaningful reform. Indeed, this bill, H.R. 4, places significant additional administrative hurdles on our Federal regulatory agencies, particularly on our independent financial regulators, like the Securities and Exchange Commission and the Commodity Futures Trading Commission. Certain provisions of this bill would impose requirements on our financial regulators to conduct onerous cost-benefit analysis, to submit their rules for review to the Office of Management and Budget, and to delay effectiveness of major rules until Congress enacts an unprecedented joint resolution. Not only would these provisions limit the independence of our Wall Street sheriffs, it would also tie up their already insufficient resources and put them at even greater risk of litigation for every rule.…”