Senate Banking Committee Chairman Chris Dodd (D-CT) released the following statement today in response to news that Republicans will allow debate on financial reform:
For the last year and a half, I have worked with Senator Shelby as I crafted the bill to reform Wall Street. They have been productive talks, but I cannot agree to his desire to weaken consumer protections given the enormous abuses we have seen.
Our nation has been through so much. We’ve seen 8.5 million jobs lost, double digit unemployment, 7 million homes lost to foreclosure, and trillions of dollars of wealth lost.
Reforming Wall Street and protecting our nation from another economic crisis is one of the most serious issues this Senate has faced in my 30 years serving in this body.
It is time for this debate to begin. And it must be a serious, vigorous debate. It is time for the Senate to operate as the Senate should. Members must be allowed to offer amendments. We must allow many voices to be heard as we work to create a sound foundation for our nation’s future economic strength.
