Why we are here, Wall Street Reform
Last week the Senate passed the most sweeping Wall Street reform package since the Great Depression. Next it'll go to conference with the House to reconcile both versions, and then the President will sign this critically important bill into law.
Risky behavior driven by insatiable greed on Wall Street nearly destroyed our economy, and cost millions of Americans their jobs in the process. In my view, Wall Street reform is a good example of exactly why we are here.
People elect Representatives, Senators and a President to get things done. As many Republicans in the Senate have found out, it's easy to say NO to just about everything that comes up for a while, but eventually people expect us to address the issues that matter to their lives.
And that's exactly what Wall Street reform does.
The Senate bill will create a new consumer-protection watchdog to stop banks and investment firms from taking advantage of consumers in mortgage, auto and credit card lending. It's long past time that consumers, everyday investors, and those trying to secure a well-deserved retirement after a lifetime of hard work have someone looking out for them.
Reform will give shareholders an actual say in corporate affairs. And of course, as I committed to my supporters when we took up this challenge, this bill will end taxpayer-funded bailouts FOREVER. There is no reason under the sun that Nevadans, or anyone else, should have to pay for someone else's greed. Ever.
And finally, we created new oversight of the huge market known as derivatives, which had a lot to do with creating the conditions for the financial meltdown of 2008. And the ridiculous conflicts of interest in the credit ratings agencies? Those are done for -- when people buy a bond, they should always know it's honest value, not the value a bank paid an agency to give it.
Nevadans have been hit especially hard by the recession, I think about it every day. We've got a long way to go to get back on track, but I am absolutely committed to doing everything in my power to keep Nevada, and America, moving in the right direction.
Thank you so much for your support,
Harry
Why we are here, Wall Street Reform
Last week the Senate passed the most sweeping Wall Street reform package since the Great Depression. Next it'll go to conference with the House to reconcile both versions, and then the President will sign this critically important bill into law.
Risky behavior driven by insatiable greed on Wall Street nearly destroyed our economy, and cost millions of Americans their jobs in the process. In my view, Wall Street reform is a good example of exactly why we are here.
People elect Representatives, Senators and a President to get things done. As many Republicans in the Senate have found out, it's easy to say NO to just about everything that comes up for a while, but eventually people expect us to address the issues that matter to their lives.
And that's exactly what Wall Street reform does.
The Senate bill will create a new consumer-protection watchdog to stop banks and investment firms from taking advantage of consumers in mortgage, auto and credit card lending. It's long past time that consumers, everyday investors, and those trying to secure a well-deserved retirement after a lifetime of hard work have someone looking out for them.
Reform will give shareholders an actual say in corporate affairs. And of course, as I committed to my supporters when we took up this challenge, this bill will end taxpayer-funded bailouts FOREVER. There is no reason under the sun that Nevadans, or anyone else, should have to pay for someone else's greed. Ever.
And finally, we created new oversight of the huge market known as derivatives, which had a lot to do with creating the conditions for the financial meltdown of 2008. And the ridiculous conflicts of interest in the credit ratings agencies? Those are done for -- when people buy a bond, they should always know it's honest value, not the value a bank paid an agency to give it.
Nevadans have been hit especially hard by the recession, I think about it every day. We've got a long way to go to get back on track, but I am absolutely committed to doing everything in my power to keep Nevada, and America, moving in the right direction.
Thank you so much for your support,
Harry
