Political Quotes

“let me first begin by congratulating the Members from both the Committee on Banking and Financial Services and the Committee on Commerce from the Democrat and Republican side of the aisles for their outstanding work in bringing this piece of legislation to this floor today. Once again, I think that Congress is about to make history. Despite countless changes in our economy, there has been no significant reform of America's financial service laws since the Great Depression, but we have never been closer to making these changes than we are now. There is today a broad bipartisan consensus that the time to move forward has finally come. We have worked hard for a consensus bill that ensures that every American is a winner: consumers, bankers, insurers, brokers. American consumers deserve the freedom of one-stop shopping for inspection services which we believe will mean about $15 billion savings directly passed to themselves and to their families. But we should not forget that the financial sector of our economy is also the foundation of our country and the foundation of our economy today. Madam Chairman, America cannot meet the challenges of the 21st Century with financial service laws that are designed for the 1930s. Financial services reform is not about politics. It is about what is good for America. We are hopeful that the White House would join Chairman Greenspan, Republicans, Democrats together in this bipartisan reform of these financial service laws.”