Senate’s Wall Street Reform Logjam Broken

Now the real fight for consumers and families begins

TexPIRG

“Tonight’s announcement that free and open debate on Wall Street reform will begin on the Senate floor, after months of delay, is a critical and welcome step.  

Now the real fight to protect consumers and families begins. We urge the Senate to reject all efforts to water down reform of the reckless Wall Street practices that cost Americans millions of jobs and trillions of dollars in home values and retirement income, and shattered their faith that government can and will regulate the excesses of the marketplace. 

The bill needs to be strengthened, and must include a strong, independent Consumer Financial Protection Agency, must allow states and their attorneys general to enforce the laws, must open the shadow markets where derivatives are traded, and must end, once and for all, ‘too big to fail.’”