On the recordJune 30, 2010
8 million jobs gone; $17 trillion in savings gone; Americans' faith in their system gone. Why? Because mortgages that came in 31 flavors of insanity got bought by Americans who couldn't afford them. Banks tied them in a bow and put AAA ratings on them, and then the billion dollar betting really started. The Wall Street reform bill that we have crafted addresses every one of the links in that chain of madness. Yesterday, the minority leader called the reform killing an ant with a nuclear weapon. Mr. Speaker, I'm a human being, so I know that 8 million jobs lost and $17 trillion in savings gone is not an ant. Mr. Speaker, I worked years in the financial services industry, so I know that this reform is not a nuclear weapon. It is a critical and essential mechanism to restore the faith of the American people in their system and the prosperity that will follow.
