[Congressional Record (Bound Edition), Volume 155 (2009), Part 23]
[House]
[Page 31008]
[From the U.S. Government Publishing Office, www.gpo.gov]




             MAKE SURE THAT WALL STREET PLAYS BY THE RULES

  (Ms. KILROY asked and was given permission to address the House for 1 
minute.)
  Ms. KILROY. For 8 years the Bush administration and its Republican 
allies looked the other way as Wall Street and the finance industry 
engaged in risky practices, risky practices which resulted a little 
more than a year ago in the whole house of cards tumbling down, and the 
American taxpayers had to pick up the pieces.
  We can't let that happen again. And we know Wall Street won't police 
itself. We need tough new laws and regulations. H.R. 4173, the Wall 
Street Reform and Consumer Protection Act, will rein in those abusive 
practices. A new consumer agency will be established to protect 
consumers from fine print gimmickry and prevent fraud and abuse. It 
will end the ``too big to fail'' problem by creating a mechanism for 
the controlled dissolution of failed financial institutions, a 
financial death panel, so to speak, paid for, not by American 
taxpayers, but by the financial industry itself.
  This bill will help protect Main Street and make sure that Wall 
Street plays by the rules.

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