Political Quotes

“Mr. President, I have sought recognition to talk about three amendments pending on the legislation to reform Wall Street. I begin by noting the spirit of bipartisanship which is present on this issue, and I think it is a very important sign. There is too little bipartisanship in this body, and from my travels through my State and elsewhere, I believe the American people are fed up--really sick and tired--with the kind of bickering which is present in the Senate. It took a lot of public pressure and an obvious, great, and serious problem to bring about this bipartisanship. But it is very important that it be present in our efforts to reform Wall Street, and I hope it will be a sign of things to come. Some time ago, I introduced a bill which would change the decision of the Supreme Court of the United States which held that aiders and abettors were not liable under the Securities Act. I have taken that bill and have submitted it as an amendment with quite a number of cosponsors. It is amendment No. 3776, to allow suits against aiders and abettors of Wall Street fraud, cosponsored by Senators Reed, Kaufman, Durbin, Harkin, Leahy, Levin, Menendez, Whitehouse, Franken, Feingold, and Merkley. Prior to the decision of the Supreme Court of the United States in Central Bank, back in 1994, supplemented by the Stoneridge Investment Partners decision, the law was that aiders and abettors were civilly liable for damages.…”