I rise to strongly agree with Chairman Levin that what we have heard in many of these hearings regarding Goldman Sachs' activity and others is extremely disturbing-- outrageous--and I don't support that activity in any way, shape, or form. I think I have a lot of credibility saying that, because back in the fall of 2008, I didn't support huge taxpayer bailouts to Goldman Sachs and the other megafirms. I opposed those taxpayer bailouts. I thought it was wrong and counterproductive and moving us in the wrong direction. But I have to disagree with the distinguished chairman that the present version of the Dodd bill fixes these key issues. I don't think it does. So I encourage us to have a true bipartisan bill that can come to the floor to address the problems that exist. The Dodd bill expands too big to fail. It doesn't end it. The Dodd bill ensures future bailouts; it does not stop bailouts. That is a big problem to me and I believe to American taxpayers.
Editor's note · Context
The speaker addresses concerns about the Dodd bill and its implications for future financial bailouts.
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