Political Quotes

“Thank you, Mr. President. Wall Street Reform Mr. President, Thursday marks the first anniversary of President Obama signing the Dodd-Frank Wall Street Reform and Consumer Protection Act into law. As chairman of the Banking Committee, I have a responsibility to oversee implementation of this critical new law. The Wall Street Reform Act was a direct response to the worst financial crisis since the Great Depression. While it appears that many on Wall Street, and even some here in Washington, have already forgotten the painful costs of inadequate financial regulations, I have not. And neither have the millions of Americans who lost their jobs, their homes, or their savings, and who are still waiting for the recovery. The financial crisis didn't just happen by itself. It was the result of reckless and irresponsible behavior on Wall Street, lack of consumer protections, and failure by financial regulators to take action even as the warning signs grew ever larger. In response to the devastation, Congress passed new financial reforms that created a sound regulatory foundation to protect consumers and help prevent future crises. However, these reforms have been under constant attack since their inception. Opponents of Wall Street reform continually repeat misleading claims that the new law was hastily conceived and will harm our economy.…”