Political Quotes

“Madam President, this week, we will complete work on an important bipartisan bill. Thanks to the leadership of the Senator from Idaho, Mr. Crapo, who is chairman of the Banking Committee, they passed it out of the Banking Committee, and now it is time for us to do our job and pass it out of the Senate. Last week, we voted to proceed, and we will vote to pass it out of the Senate in the next few days. Senator Crapo explained why this work is so important. Since the passage of the Dodd-Frank legislation in 2010--as we all recall, after the great recession of 2008, when Wall Street melted down together with our financial institutions, there were reform efforts undertaken known as Dodd-Frank--Senator Dodd and Congressman Frank--which imposed regulatory requirements on banks large and small. The problem is, the small community banks--the ones that are disproportionately harmed by this overregulation--weren't the cause of the great recession, the financial meltdown of 2010 and 2009, but they are the collateral damage. What has happened is, there has been a lot of consolidation. Many small community banks and credit unions have simply had to close or been consolidated with other larger banks and institutions. It has taken a toll on our economy, and it has taken a toll on our communities across the country.…”