Wall St. Regulation

"I'm worried about the fact that basically starting in the '80s, you know, the cops were taken off the beat in financial services, these guys were allowed to just paint a bull's eye on the backsides of American families. They loaded up on risk. They crashed the economy. They got bailed out. And what bothers me now is they still strut around Washington. They block regulations that they don't want. They roll over agencies whenever they can."
- Elizabeth Warren

Like so many of you, I watched in terror as our financial system melted down almost ten years ago. Millions lost their jobs, their homes, their life savings. But the people whose recklessness precipitated that crisis were not among those millions. There is almost no greater injustice I see in this country than the degree to which Wall Street bankers got away with causing the greatest financial meltdown since the Great Depression.
 
At its best, Wall Street performs a valuable function in our economy: allocating investment money where it can do the most good. But we too often see it at its worst – recklessly speculating on risky practices, prioritizing quarterly earnings over long term gains, and squeezing every penny out of the American consumer. American taxpayers had to bite the bullet and spend billions to bail out the banks that caused the financial crisis, simply because they were “too big to fail.” Ten years later, we still have taken no steps to prevent this exact same problem from happening again.
 
We must take bigger, bolder steps to curtail our exposure to Wall Street’s recklessness. This is how I would fight back against the dangerous excesses of Wall Street, as your Congressman: 


I strongly support the Dodd-Frank Act that sought to provide more oversight and rein in some of the more irresponsible practices of Wall Street speculators. I was outraged, though not surprised,that Rep. Peter Roskam voted to roll back many of Dodd-Frank’s safeguards this summer. As your Congressman, I will work to reinstate and expand Dodd-Frank, ushering in a new era of accountability from Wall Street. 



Paid for and Authorized by Ryan Huffman for Congress