Political Quotes

“I thank the ranking member for yielding. Mr. Chairman, I wanted to come down and rise in opposition to this bill, and I wanted to get on the Record because I predict that there will come a time when there will be another financial crisis, and people will look back and they will say: Where were you when the CFTC reauthorization came up? Six years ago, our economy and the lives of millions of Americans was thrown into a tailspin by a devastating financial crisis, spurred in large part by reckless behavior on Wall Street and a lack of transparency of and oversight over the global financial systems' derivatives market. So we acted. Congress acted. We took steps. We passed Dodd-Frank. We strengthen the rules of the road. We brought derivatives markets out of the shadows, allowing regulators to better assess and reduce systemic risk, all working towards the goal of decreasing the chances of another financial crisis. The problem is the opponents of reform did not give up. Over the past several years, the fight for meaningful financial reform has in large part now migrated to the regulatory agencies overseeing the implementation of Dodd-Frank, and now we return to the legislative arena with H.R. 4413, which represents in my view a dangerous attack on the authority and efficacy of the Commodity Futures Trading Commission.…”