[Congressional Record Volume 155, Number 186 (Friday, December 11, 2009)]
[Extensions of Remarks]
[Page E2971]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




         WALL STREET REFORM AND CONSUMER PROTECTION ACT OF 2009

                                 ______
                                 

                               speech of

                          HON. MARCIA L. FUDGE

                                of ohio

                    in the house of representatives

                      Wednesday, December 9, 2009

       The House in Committee of the Whole House on the State of 
     the Union had under consideration of the bill (H.R. 4173) to 
     provide for financial regulatory reform, to protect consumers 
     and investors, to enhance Federal understanding of insurance 
     issues, to regulate the over-the-counter derivatives markets, 
     and for other purposes:

  Ms. FUDGE. Madam Chair, the failure to regulate financial markets led 
to the worst financial crisis since the Great Depression. Reforming our 
financial system is one major part of restoring our economy's health. 
Today this Congress and President Obama are taking effective steps to 
bring our economy back from the brink of disaster.
  The Act is crucial in curbing the predatory practices of the past. It 
will protect consumers from predatory lending abuses and industry 
gimmicks.
  This bill will guard a family's retirement funds, college savings, 
home, and business from unnecessary risk by executives, lenders, and 
speculators.
  It will bring transparency and accountability into the financial 
system.
  I commend Chairman Frank for his tireless efforts to protect the 
American economy and taxpayers.

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