On the recordJanuary 7, 2015
This bill will allow three, only three of our Wall Street institutions--which control 70 percent of the collateralized loan obligation business; three of them control 70 percent of the business--to gamble with depositors' money again without those depositors having a say in it. When they collapse and depositors lose their money, those of you who vote for this bill will have to explain it to them. This is unnecessary. It is inappropriate. And we should not be voting for this bill, mostly because of that single provision.
