Washington, DC—Nevada Senator Harry Reid released the following statement today in response to the financial regulatory reform proposal that Chairman Dodd introduced yesterday:
“Every day, I hear from Nevadans who were left to pay the price for the irresponsible behavior and loose rules that governed Wall Street in years past. People across this country are angry and frustrated because allowing excess and greed on Wall Street became more important than standing up for Main Street.
“Chairman Dodd’s financial reform proposal affirms Senate Democrats’ commitment to protect consumers and middle class families in Nevada and all across America and ensures the mistakes of the past Administration are never repeated again. This proposal promises to rein in Wall Street abuses, protect consumers, prevent another financial crisis and lay the foundation for a safe and sound financial system. I commend Chris Dodd for leading this process in a transparent and bipartisan fashion, and I know those efforts will continue through markup and committee hearings.
“It comes down to whose side you are on. Senate Democrats know that people are hurting because of the gap that exists between Wall Street and Main Street. We are committed to closing that divide and we are hopeful that Republicans work with us to strengthen our economy through these measures.”