Washington, DC— Nevada Senator Harry Reid released the following statement this evening after Republicans voted to block a floor debate on Wall Street accountability legislation:
“This past weekend, I met with many Nevadans who are still struggling due to the unchecked greed and excess of Wall Street: some lost their retirement savings, some lost their homes and many lost their economic security. Today we tried to take an important step toward making sure that never happens again, but Senate Republicans would not even agree to begin debate on this critical issue. Because Republicans refuse to have open, honest debate, Nevadans and millions of other Americans are no closer to being protected and Wall Street is no closer to being held accountable.
“Chairman Dodd has worked for months with several Republicans on the Banking Committee and has included many Republican-supported ideas in his proposal. But by blocking us from even opening debate on how to hold Wall Street accountable, Republicans are voting to protect the big banks and their bonuses and to keep this important debate hidden from public scrutiny.
“Senate Democrats are committed to holding Wall Street accountable and putting consumers back in control. We expect to have more votes this week in order to move our bill to the floor. We remain open to working with our Republican colleagues, but we will not tolerate efforts to slow-walk this process or water down this reform because it is too important to middle-class families in Nevada and across America.”