[Congressional Record Volume 156, Number 101 (Thursday, July 1, 2010)]
[Extensions of Remarks]
[Page E1272]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




   CONFERENCE REPORT ON H.R. 4173, DODD-FRANK WALL STREET REFORM AND 
                        CONSUMER PROTECTION ACT

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                               speech of

                           HON. JACKIE SPEIER

                             of california

                    in the house of representatives

                        Wednesday, June 30, 2010

  Ms. SPEIER. Mr. Speaker, our mission from the American people was 
simple: pass Wall Street Reform that puts consumers first, holds Wall 
Street and Big Banks accountable, and ends the era of taxpayer-funded 
bailouts and ``too-big-to-fail'' institutions. By passing this 
legislation, we have fulfilled that mission.
  We ensure that taxpayers are never again on the hook for Wall 
Street's risky decisions. We enable regulators to shut down ``too big 
to fail'' banks before they take down the system. We impose tough new 
rules on the riskiest financial practices that were at the root cause 
of the crisis. We place a fiduciary duty on brokers to act in the best 
interests of their clients. We create a new Consumer Financial 
Protection Bureau, and end the reliance on credit rating agencies that 
gave triple-A ratings to risky mortgage-backed securities that they 
didn't understand or investigate.
  To those who ask: will the Wall Street Reform we passed last night 
prevent another financial meltdown in the future-I answer with a firm 
and resounding yes.

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