[StBernard] Statement From RNC Chairman Michael Steele On Financial Regulatory Reform

[Westley Annis]

STATEMENT FROM RNC CHAIRMAN MICHAEL STEELE ON financial regulatory reform
 
WASHINGTON - Republican National Committee (RNC) Chairman Michael Steele
released the following statement today:
 
"President Obama is pushing financial regulatory reform legislation that
will do more harm than good to American taxpayers and our economy. The bill
currently being considered in the Senate would undoubtedly continue bailouts
of financial institutions, encouraging companies to take the same risky bets
that put our economic well-being in danger. It permanently enshrines
'too-big-too-fail' into law, piling on additional layers of job-killing
bureaucracy that could add more instability to our financial markets. And
despite their role in creating an unsustainable housing bubble and leaving
taxpayers on the hook for billions of dollars, Fannie Mae and Freddie Mac
are left untouched. Republicans are still hopeful for bipartisan
legislation, but President Obama and Congressional Democrats must stop
stubbornly pushing a partisan bill that won't protect American taxpayers."
 
###