On the recordJuly 22, 2015
It was never my intent to support the law in the first place. Under then-Ranking Member Spencer Bachus of Alabama, my predecessor, Republicans had put forward a different law, and it was about bankruptcy, as opposed to of bailouts. Instead, what Dodd-Frank did was codify bailouts into law. It codified this whole concept of too-big-to-fail institutions. I believe there is not one financial institution in America that is too big to fail. The American financial system is too big to fail, but not one particular financial institution. We offered a different law in the first place, which was totally ignored by the Democrats. At the time, they enjoyed a super majority; so we were left with this particular monstrosity that, again, is making the American people less prosperous. I thank the gentleman, and maybe we can get a comment from the gentleman from Arizona.
