Senate Democrats

Reid: New Law Protects Nevada Families From Reckless Behavior On Wall Street

Washington, DCNevada Senator Harry Reid released the following statement today following President Obama’s signing of Wall Street accountability legislation.  The Senate passed this bill to hold Wall Street accountable last week:
“A straight line can be drawn from the greed on Wall Street to the grief on Main Streets throughout Nevada and across America.  With the stroke of the President’s pen this morning, we will soon both relieve that pain and ensure it can never happen again.  Starting today, big banks on Wall Street will finally be held accountable and middle-class families will be empowered with the information they need to make sound financial decisions for themselves and their families.
“Under the leadership of Chairmen Dodd and Lincoln in the Senate and Chairman Frank in the House, we have crafted a law that establishes clear rules of the road: ending taxpayer bailouts, bringing transparency and accountability to shadowy Wall Street markets, and creating an independent agency to protect consumers.  I am heartened by the support that this bill received from a few brave Republicans who understand how important this bill is for our economy.  But I remain disappointed that so many other Republicans refused to support this bill, voting instead in favor of the same policies that almost toppled our economy.
“I will keep fighting to ensure that families in Nevada and across America never again have to pay the price for Wall Street’s reckless, risky behavior.”