On the recordDecember 8, 2011
Thank you very much. Let me first thank Chairman Johnson for his leadership in this regard and in so many other major issues before the Banking Committee. He has really exercised a lot of our oversight obligations in making sure we implement Wall Street reform in a way that protects all of us as taxpayers in the country but creates a system that can still let us economically flourish, and this is one of those. For too long too many in Washington protected Wall Street from commonsense regulations and let consumers fend for themselves. For too long Republican economic policy, when it should have protected the 99 percent of American consumers from the reckless financial games that led us to the brink of economic disaster in 2008, protected the 1 percent on Wall Street instead. Banks played Russian roulette with the future and economic security of middle-class families, and no one--no one--was watching. Backed up by too-big-to-fail government guarantees, they wreaked havoc on our economy and on the jobs and retirement savings of families who played by the rules. We have lived through the unfortunate results of lax oversight, and now it is time to work together to correct it. It is time to stop the political games and govern. It is time to act. It is time to work together to make sure middle-class families get the protection they deserve and the watchdog they need. This is really about whose side a person is on.…





