May 21, 2010

WASHINGTON, D.C. - Congressman André Carson released the following statement on the Senate's passage of financial regulatory reform last night:

"Two years ago our economy was brought to the brink of collapse because of misguided and destructive practices from the financial industry. Last year I joined my colleagues on the Financial Services Committee to craft a comprehensive set of measures that will protect our economy and better secure American's hard-earned retirement accounts by modernizing our financial regulations and holding Wall Street accountable.

"I am pleased to see that the Senate has joined the House in passing strong consumer protections aimed at restoring transparency and fairness and reining-in the excess of Wall Street.

"We're now on the verge of passing historic reform that will prevent Main Street from falling victim to dangerous gambles being made on Wall Street. Make no mistake about it-our ‘Great Recession' started because Wall Street was allowed to run amok under the previous administration.

"That can't happen again-and it won't provided we pass financial regulatory reform into law. In the coming days I am confident that we will move quickly to reconcile the differences between the two bills and send the final version to the president for his signature."

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