May 20, 2010

Reid: Senate Democrats Lead Effort To Hold Wall Street Accountable And Protect Nevada Families From Big Bank Excesses

Washington, DC—Nevada Senator Harry Reid released the following statement today after the Senate Democrats led passage of Wall Street accountability legislation:
 
“The stakes of the Wall Street reform debate have always been clear to Senate Democrats: the economic security of real people in Nevada and across America who were left to pay the price for risky bets and reckless behavior at big banks on Wall Street.  You can draw a straight line from the unchecked greed on Wall Street to the layoffs and foreclosures throughout Nevada and the rest of the country.  The bill that we are passing tonight is a strong statement to Wall Street that business as usual is over.
 
“We’re bringing accountability to Wall Street because we are accountable to the American people.  The bill we passed tonight has a message for both.  To Wall Street, it says: no longer can you recklessly gamble away other people’s money.  It says the days of ‘too big to fail’ are behind us.  It says to those who game the system: the game is over.
 
“To Main Street, this bill says: you no longer have to fear that your savings, your retirement or your home are at the mercy of greedy gamblers in big banks.  And it says to them: never again will you be asked to bail out those big banks when they lose their risky bets.
 
“This debate made each party’s priorities crystal clear: Republicans tried to protect their friends on Wall Street and did everything they could to kill this bill, while Democrats stood up for the middle class and refused to back down.  Now, Senate Democrats look forward to ensuring that this bill remains strong through conference with the House and to continuing our efforts to strengthen America’s economy.”

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