Political Quotes

“I come to the floor today on this fifth anniversary of Dodd-Frank to reflect a little bit on a signal piece of legislation that, to this day, remains controversial. Dodd-Frank, of course, was a response to the worst economic meltdown that we have seen in this country since the Great Depression of the 1930s. I want to reflect back on what led to the need for Dodd-Frank, the impact that that Great Recession, as we have come to call it, had on Americans and American families all over this country and then think a little bit about what Dodd-Frank has and has not done in the 5 years since its passage. It remains a controversial piece of legislation. All you have to do is look at the steady stream of press releases from the majority party on financial services. I have a few here: Dodd-Frank has enshrined too big to fail into law. Obama claimed Dodd-Frank would lift the economy. It has done the opposite, despite the fact that we learned today, of course, we have got one of the lowest jobless rates in a very, very long time. Financial crisis was caused by Washington's dumb regulations. That would come as a surprise to pretty much anybody with economic know-how who saw the long chain of malfeasance and irresponsibility in the mortgage market that actually led to the crisis. Dodd-Frank is setting the stage for the next crisis. ``Dodd-Frank Act leaves America less stable, less prosperous, less free.'' These are truly extravagant claims.…”