There are four major parts of this very large bill. They are too big to fail, the early warning system, consumer protection, and dealing with exotic instruments. I hope our colleagues will support this amendment as we vote shortly on it, and that it will help us reach agreement on what I argue is a major part, which is that we never want to see taxpayers again confronted with having to underwrite a failed institution. There has been a lot of hard work and negotiation to get here, and not just over the last couple of days, but weeks. I particularly thank Senator Mark Warner of Virginia and Senator Bob Corker of Tennessee. They spent a lot of time on this issue, literally going back months on it. We would not be in this position today were it not for their labor and effort. We have more work to do, but this is a good beginning.
Editor's note · Context
The speaker discusses key components of a financial reform bill and expresses gratitude to colleagues for their efforts.
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