Reforming Wall Street; Providing Health Care Options; A Responsible Plan in Afghanistan

Jul 2, 2010
Pelosi Update

Reforming Wall Street
This week, the House stood up for the American people and passed the Wall Street Reform and Consumer Protection Act by a vote of 237 to 192. This historic legislation represents the toughest Wall Street reform in generations, and will hold Big Banks and Wall Street accountable by ending taxpayer-funded bailouts, increasing transparency in the financial system, and protecting and empowering consumers through a Consumer Financial Protection Agency.

fin.reform.press.jpgCongresswoman Pelosi speaks at a news conference after the passage of the
Wall Street Reform and Consumer Protection Act.

For eight years, President Bush and his Congressional allies ignored growing risks in the financial markets. Their failure to regulate allowed Wall Street and Big Banks to gamble with our money — compromising our future, our savings, and the American Dream. We know what happened: the worst financial crisis since the Great Depression — we lost 8 million jobs and $17 trillion in retirement savings and Americans’ net worth.

As we rebuild our economy, we must ensure Big Banks and Wall Street can no longer jeopardize our recovery and hurt hard-working families and small businesses. Wall Street reform is the next critical step to create jobs and grow the economy.

It is no surprise that Congressional Republicans opposed this legislation. Earlier this week, House Republican Leader John Boehner compared the worst financial crisis since the Great Depression to an “ant”. This is the same party that voted against unemployment insurance in the Senate this week, and is apologizing to BP. Democrats in Congress are working for the people's interests. My colleagues on the other side of the aisle are protecting the special interests.

Providing Health Care Options
Recently, the Department of Health and Human Services unveiled a new website - https://www.healthcare.gov/ - to help Americans take control of their health care by connecting them to new information and resources that will help them access quality, affordable health care coverage. You can use this innovative on-line tool to explore your health insurance coverage options, gain insight about prevention, compare quality care, and learn more about the Affordable Care Act.

A Responsible Plan in Afghanistan
Last night, as the House considered a supplemental defense funding bill, I voted to ensure the President follows his timetable for redeployment from Afghanistan: to begin bringing our troops home next year. I supported the McGovern-Obey-Jones amendment because it would have provided Congress with a National Intelligence Estimate on Afghanistan that is current; a plan for the redeployment of U.S. troops that is consistent with the President's announced policy to begin bringing our troops home next year; quarterly reports submitted to Congress on the President's plan; and an expansion of oversight to deal with waste, fraud, and abuse. While this amendment unfortunately was defeated, I will continue to fight to bring our troops home honorably, safely, and soon.

Celebrating Independence Day
I would like to wish all of my San Francisco neighbors a happy Fourth of July! Independence Day is a time for all Americans to come together and remember our country’s history as a land of freedom and a beacon of hope to the world. Best wishes to you, your family, and your friends as you celebrate our nation’s Independence Day this weekend.

Please feel free to forward this information to your family and friends. To learn more about these efforts, to express your views, or to sign up for email updates, please visit my Web site. I am now on Twitter https://twitter.com/SpeakerPelosi.

Please feel free to forward this information to your family and friends. To learn more about these efforts, to express your views, or to sign up for email updates, please visit my website. I am also on Twitter at http://twitter.com/NancyPelosi.

 


Sincerely,
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Member of Congress