Lee Terry said "I definitely agree, in part, with some of this bill in that we need transparency and some accountability, especially in the exotic instruments, but this bill also grants some carte blanche power over the financial markets, not just on Wall Street but on Main Street, too. This bill is going to raise the costs for small business operators and consumers who will use financial institutions. I also find it interesting that part of the discussion here is to criticize or is to try to suggest that the Republicans want to cut Social Security. I'm curious as to how the Members who are raising that issue on the floor today voted on a health care bill that actually took $500 billion out of Medicare, which our seniors rely on. They voted to cut $500 billion out of it." @ PoliticalQuotes.com

On the recordJune 30, 2010

I definitely agree, in part, with some of this bill in that we need transparency and some accountability, especially in the exotic instruments, but this bill also grants some carte blanche power over the financial markets, not just on Wall Street but on Main Street, too. This bill is going to raise the costs for small business operators and consumers who will use financial institutions. I also find it interesting that part of the discussion here is to criticize or is to try to suggest that the Republicans want to cut Social Security. I'm curious as to how the Members who are raising that issue on the floor today voted on a health care bill that actually took $500 billion out of Medicare, which our seniors rely on. They voted to cut $500 billion out of it.

Said by

Lee Terry

Nebraska

Source

govinfo.gov

Editor's note · Context

The speaker discusses concerns about a financial bill's impact on transparency, accountability, and costs for small businesses and consumers.

Share on X Share on Facebook Email this quote