On the recordJune 8, 2017
In 2008 our financial system cratered, bringing the broader world economy to its knees. Millions of Americans lost their homes; millions more lost their jobs by no fault of their own; and $13 trillion in wealth and savings was lost. We went to work fixing the glaring holes in our Nation's financial regulatory system. Among other things, we enacted tougher mortgage standards; we brought the derivatives market out of the shadows; we stopped the casino-like bets at our investment banks; and we created a consumer-focused protection bureau. Unfortunately, what we couldn't do was eradicate greed; and, sadly, today greed is rearing its ugly head once again. The Republican- controlled Congress is about to pass H.R. 10, the ``Wrong'' CHOICE Act, a bill that would throw away the lessons of the 2008 financial crash and unleash the demons that nearly took down the world economy. I urge the House to reject this bill.
