Political Quotes

“So the question is, Why do we ignore these pleas? Let's recap the problems with this legislation. First, the bill puts American taxpayers at risk of another bank bailout. It weakens stress tests for all large banks. In spite of what my colleagues say, everybody that has commented on this bill--so many experts that have commented on this bill understand that this is not just about community banks; it is not just about the regional midsized that go up to $250 billion. We can stress test for all large banks; JPMorgan Chase, $2.5 trillion in assets; Bank of America, $2.3 trillion; Wells Fargo, $1.9 trillion. As if they haven't had enough-- done enough, made enough mistakes, violated the public trust enough times. Citigroup, $1.9 trillion. These four banks--JPMorgan, Bank of America, Wells Fargo, and Citigroup--hold 51 percent, more than half of all industry assets, $8.6 trillion. These banks have had a really good run since the crisis, since the bailout. Remember, people didn't go to jail even though people in my ZIP Code, in my community, in my State and in Pennsylvania and all over the country--people lost savings, their homes, and their jobs. These banks, which are more profitable than they have ever been in the last couple of years, got a huge tax break just last December, and now we are doing them a favor by weakening the stress test. All the country's biggest banks took about $239 billion in taxpayer bailouts.…”