Political Quotes

“I thank Ranking Member Waters for yielding me the time and for her commitment to thoughtful debate in our caucus to get the best results for the people that we represent. I thank Congressman Hill for working with me and our staff for months to craft the bipartisan bill that you see on the floor today. When I first entered Congress, the Great Recession required an emergency response for lawmakers to save the economy from collapse, and then it required a thoughtful response to make sure that we would have an economy that would remain stable and work for everyone. That is why I worked hard to draft the Dodd-Frank Wall Street Reform and Consumer Protection Act, and I am proud that it has succeeded in creating a more stable and better capitalized financial system so that hardworking families should never have to endure a similar financial crisis. The balance has generally been good between reining in risk and allowing financial services firms to play their necessary role in our economy. We have to constantly monitor for new risks and ways that regulation may unintentionally reduce liquidity or restrict access to capital. But first and foremost, we need to fight to preserve the substantive pieces that we got right and to build on its success with improvements to the law. That includes the Volcker rule, a crucial aspect of protecting the system. The current arrangement uses a committee of five agencies--the Fed, OCC, FDIC, SEC, and CFTC--to write and update the rule.…”