Political Quotes

“Mr. President, yesterday, one of my colleagues, Senator Kaufman, from Delaware, came to the floor and expressed some concern about the issues that will now be followed with respect to financial reform. I wanted to simply say I share many of the concerns he expressed. There are some who are worried about financial reform going too far. I am worried that financial reform still doesn't go far enough. As we go into a conference, I note the conferees who have been appointed, and I note some of the conversations in the media about those who will be in the conference. I am worried. I think in order to address the issues that need to be addressed--and as my colleagues know, I have spoken about this many times, I think too big to fail has to be addressed. I don't think it is yet addressed adequately. I think that if we, in the future, have financial firms that are so large they cause a moral hazard, or unacceptable risks, and whose failure could bring down the entire economy, those firms that are in that situation of too big to fail have to be pared back to a point where they would no longer bring down the economy should they fail. I don't think that has been yet adequately addressed. I also think we have not addressed the issue of the toxic assets that have been traded and essentially wagered in our economy to the tune of trillions of dollars.…”