Political Quotes

“I thank the gentleman from Texas for holding this Special Order tonight. Mr. Speaker, birthdays are usually a cause of celebration, but, this week we mark 5 years--the 5th birthday--of one of the most overreaching and damaging laws in recent memory that was heaved on our economy. Now, when the Democratic majority passed Dodd-Frank, there were three big promises they made about this legislation, first, that the legislation would end too big to fail; second, that the legislation would protect consumers; and, third, that Dodd-Frank would make our economy more competitive. Why don't we take a look at each one of those one by one and see how they have worked out so far. Promise number one, Dodd-Frank will end too big to fail. First, did Dodd-Frank really end too big to fail? For starters, by just about every measure, the biggest banks today are even bigger than they were before the financial crisis while community banks and other small lenders continue to be shut out and shut down around the country. In fact, according to recent statistics, the five largest banks in the Nation now control roughly half of all of the assets in our banking system. To put that in another perspective, that means that outside of these institutions it takes the collective assets of over 6,000 banks in order to equal the number of assets held by the five largest banks.…”