Saxby Chambliss: “I rise to express my disappointment at the posture of the massive legislative overhaul of our financial markets that…”

“I rise to express my disappointment at the posture of the massive legislative overhaul of our financial markets that appears set to pass this body. I am disappointed at what this bill, as written, means for businesses on Main Street and for the livelihoods of Americans who had nothing to do with the financial meltdown. I am also disheartened at how this body has made a bad bill even worse. For all the times the other side of the aisle has accused the minority of being obstructionists, for all the claims of partisanship, the process by which this bill has become the government power-grab it is today illustrates how the majority has served as its own 'party of no'. After repeated efforts by Republicans in the past 18 months to reach a middle ground on necessary reforms for America's financial regulatory structure, reasonable compromises we presented were rejected at every turn. And two years after the jolt of the economic crisis, and with no hope in sight for cooperation from the White House, a 1,400-page, one-sided piece of legislation was brought to the Senate floor. Now with more than 400 amendments filed, and just 10 percent of those considered, this administration is again set to sign into law another mammoth piece of legislation--one with enormous and long-lasting repercussions for this country--with little to no Republican input.”