Kathy Castor: “Mr. Speaker, I rise in strong support of reforming Wall Street and this rule. Under this new Wall Street reform…”

“Mr. Speaker, I rise in strong support of reforming Wall Street and this rule. Under this new Wall Street reform, consumers and middle class families win, and the big banks on Wall Street lose. The Wall Street reform bill is the toughest regulation of Wall Street in generations. And it comes after years of recklessness that led to the financial meltdown and the worst recession in our life times. That economy was built on a house of cards. Wall Street reform will provide a new foundation for our economy to go, one that inspires confidence and will spur new jobs. Under the new law, consumers and middle class families will benefit from a new consumer financial protection agency, a new independent watchdog that will be on the side of American families and consumers, because there always seems to be hidden charges and fees when you are applying for a credit card or a mortgage or some transaction. The new consumer agency will root out the deceptive practices. Its mission will be to protect homeowners and small businesses rather than the big banks on Wall Street. We will have new cops on the beat on Wall Street, new enforcement, transparency, and oversight. The reform measure rightfully outlaws future bank bailouts by taxpayers.”