Rep. Perlmutter Statement on President Obama’s Proposed Banking Reforms

January 21, 2010

Washington, DC – Today, U.S. Rep. Ed Perlmutter issued the following statement on President Obama’s proposed banking restrictions:

“I am encouraged by the President’s announcement today supporting regulations restricting the risky activities of the banking industry. I will continue to work on this issue in the Financial Services Committee and support restrictions for banks when they put the financial system at risk. Additionally, I worked on amendments addressing these problems during the recent Wall Street reform legislation that passed the House.

We need to prevent future Wall Street bailouts, hold the banks that received bailouts accountable to the American taxpayer and continue to strengthen community banks. One of my biggest priorities in Congress is getting lending and credit flowing to Main Street and small businesses while preventing the casino like atmosphere in Wall Street from bringing down our financial system in the future. I look forward to working with Congress and the Administration to put in place common sense regulatory reforms.”