Pelosi Statement on 8th Anniversary of Wall Street Reform
Contact: Ashley Etienne/Henry Connelly, 202-226-7616
Washington, D.C. – Democratic Leader Nancy Pelosi released the following statement today, marking the anniversary of President Barack Obama’s signing of the landmark, Democratic-passed Dodd-Frank Wall Street Reform and Consumer Protection Act on July 21, 2010:
“Eight years ago, Democrats enacted the historic Dodd-Frank Wall Street Reform and Consumer Protection Act, ushering in a new era of financial security for hard-working American families. After the recklessness of some on Wall Street ignited the Great Recession that wiped out millions of families’ jobs, savings and financial security, we took bold action to protect families in America from unfair, deceptive and abusive financial marketplace practices. With these historic reforms, Democrats restored confidence in our financial markets and shielded our economy from another financial meltdown.
“But as we approach the tenth anniversary of the Great Recession this fall, Republicans are promoting the same failed policies that brought our economy to the brink of disaster. This year, House Republicans enacted legislation that destroys some of Dodd-Frank’s vital protections, stacking the deck even more in favor of big banks and against hard-working families. The GOP has waged an all-out war on consumer protection and the financial security of the middle class – from voting to repeal Dodd-Frank to gutting the Consumer Financial Protection Bureau to passing their deficit-exploding Tax Scam for the rich, which gave a massive windfall to Wall Street and the well-connected while adding trillions of dollars to the debt and jeopardizing our children’s future.
“The GOP Congress is giving hard-working families a raw deal. The American people deserve a Congress that looks out for them, not one that sells them out and leaves them high and dry. Democrats are fighting for A Better Deal, with Better Jobs, Better Wages and a Better Future to put leverage back into the hands of the American people and ensure all families have the financial security they need to grow and thrive.”
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