On the recordJune 8, 2017
You know, I was going to talk about leveraged buyouts, and I was going to talk about CDOs and CDO squared and Volcker rules and all those other things, but the truth is that is not what this is about. It is not about the details of the bill. It is about the concept. It is about Main Street versus Wall Street. Now, I am not opposed to Wall Street, but if you make me make a choice, I am with Main Street. And I know that the radicals are against this bill, the radicals like the VFW, and I will just read what they said. If enacted, the Financial CHOICE Act of 2017 would put those who have taken an oath to defend this country and our way of life in financial harm's way. In light of this and on behalf of the nearly 1.7 million members of the VFW and its auxiliary, I call on you to oppose H.R. 10. The other radical group that opposes this bill is the AARP, representing 38 million Americans; and the Communications Workers of America, with 700,000 members; and the Brotherhood of Teamsters, representing, I think, 900,000; and, of course, the California Teachers Association, which represents 900,000 people, who also invest $202 billion in our country. All that being said, I am shocked that I am sitting here thinking that the Dodd-Frank Act is some kind of a failure. Bottom line is we put an end to the Wild West of Wall Street and we are on to a nice, steady playing field. We should be able to adjust it, but we should not throw it out.
