Political Quotes

“Madam President, I had actually planned to offer an amendment to the Wall Street reform bill this afternoon, but I have been informed that the open-amendment process does not begin until next week. I will describe my amendment this afternoon and then return to the floor at the earliest opportunity to actually call it up. Before I describe it, I wish to commend Chairman Dodd and Chairman Lincoln for their hard work in crafting a strong Wall Street reform bill. The collapse of the housing market in 2008 and the resulting recession, near depression, was painful evidence that our financial institutions were underregulated and that we were ill-prepared for the invention of complex, new financial products. The legislation we are currently debating will strengthen and modernize our Nation's financial regulation and substantially reduce the chances for future market bubbles and collapses, with all the economywide collateral damage we have seen from this collapse. My amendment is cosponsored by Senator Merkley, who is on the Senate floor--I am delighted he is here with me--Senator Durbin, Senator Sanders, and Senator Levin. It would address an area that is not yet covered by the Wall Street reform bill, and that is runaway credit card interest rates.…”