On the recordJune 28, 2010
I just want to continue to express my support for our Chair. She is very strong and courageous and keeps us on task. I just appreciate her hard work and her leadership, not only for the Congressional Black Caucus but for our caucus in general. Thank you very much, Madam Chair. Mr. Speaker, tonight we will focus on the need for this Wall Street reform that Americans have been waiting for. Americans have faced the worst financial crisis since the Great Depression. Millions have lost their jobs, businesses have failed, housing prices have dropped, and savings have been wiped out. A year and a half after the country's banking system nearly imploded, it is still operating under the same inadequate rules and regulations. The failures that led to this crisis require bold action. We must restore responsibility and accountability in our financial system to give Americans confidence and the protections they need. We must create a sound foundation to grow the economy and to create jobs. This is in fact why Congress is set to vote this week on the Wall Street Reform and Consumer Protection Act. Despite vigorous lobbying from the banks, this bill protects the American people and the financial system from abuses that nearly caused the entire system to collapse. This bill contains commonsense reforms that hold Wall Street and the big banks accountable. It will end bailouts by ensuring that taxpayers are never again on the hook for Wall Street's risky decisions.
