Political Quotes

Cliff Stearns: When Congress passes a 2,000 plus-page bill, it's not all that surprising to find objectionable items tucked away in the…

On the recordJuly 22, 2010
When Congress passes a 2,000 plus-page bill, it's not all that surprising to find objectionable items tucked away in the pages. Such is the case with the Dodd-Frank financial reform legislation. This bill creates many new financial regulatory offices for the very same Federal regulators who failed to foresee the financial collapse in 2008. With this bill, Congress is giving the American people the gift of more bureaucracy with: an Office of Financial Research, a Financial Stability Oversight Council, 20 Offices of Minority and Women Inclusion, a Federal Insurance Office, an Office of Fair Lending and Equal Opportunity, an Office of Investor Advocate and Ombudsman, and a Consumer Financial Protection Bureau. It goes on and on with new czars. Note that the problems with Fannie Mae and Freddie Mac are not even addressed. Yet these agencies were the cause of this economic crisis. So this bill is nothing more than a stimulus for more government.
Said by
Cliff Stearns
Florida
Source
govinfo.gov
Jul 22, 2010

Editor's note · Context

The speaker criticizes the Dodd-Frank financial reform legislation for creating more bureaucracy without addressing key issues.

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