Press Release
June 11, 2009Contact: Brad Dayspring202-226-5249
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ICYMI: Cantor On The House Republican Comprehensive Regulatory Reform Plan

WASHINGTON, D.C. – Today, House Republican Whip Eric Cantor (R-VA) made the following remarks at a press conference led by Ranking Member Spencer Bachus (R-AL) to unveil the House Republican comprehensive regulatory reform plan:

“I’m honored to be here with the Ranking Member, Congressman Spencer Bachus, and the senior members of the Financial Services Committee as we unveil as a Conference a road map forward to address the number one issue on the minds of most Americans, which is the economy. We all know that an economic recovery is going to be predicated upon a resumption of normal credit conditions so that we can see expansion start to begin again as far as jobs are concerned in this country. We hear a lot, and there is a lot of coverage about the heavy hand of government right now in the financial markets. To me, it really is the heavy hand of the Obama administration. Who could have ever told you that we would be living in a world of continued bailouts and handouts, or that we’d wake up one day and be the proud owners of two of America’s largest car companies? It is this type of uncertainty and continued reach by government that this plan tries to react to and say, look, we do have a better way. We don’t believe that the government should be picking winners and losers. We want to see market forces return under a set of certain but limited rules so that innovation can occur again.

“I know that I speak for the Ranking Member and the rest of my colleagues here when I say that we stand ready and willing to work with our colleagues from across the aisle to try to forge a solution so we can see our capital markets return to the prominence that they should enjoy as far as attracting investment capital so that we can see an investment-led recovery.”

To read the regulatory reform plan, click HERE.