Congressman Tom Price (R-GA) issued the following statement after President Obama signed into law the Dodd-Frank legislation, which will further politicize our economy and perpetuate the culture of bailouts.

“If this law was actually written to end bailouts and prevent future crises, it would have had broad bipartisan support,” said Congressman Price. “That did not happen. Instead, Democrats chose to give Washington politicians and bureaucrats more control over nearly every financial decision families and businesses make. Dodd-Frank is not the answer to the problems in our financial sector. It will simply empower Washington to keep using political calculus to pick economic winners and losers.

“At more than 2,300 pages, even the namesakes of this law do not truly understand what they have created. Dodd-Frank does not reform Wall Street or the regulators who failed to protect the public. It will make life tougher on Main Street, especially for the families and small businesses that have acted responsibly while using credit to invest in the future. House Republicans offered a better plan that protects consumers and actually addresses the root causes of the financial crisis, but Democrats opted to continue down the dangerous path of bailouts and too-big-to-fail.”