[Congressional Record (Bound Edition), Volume 155 (2009), Part 23]
[House]
[Pages 31425-31426]
[From the U.S. Government Publishing Office, www.gpo.gov]




             WALL STREET REFORM AND CONSUMER PROTECTION ACT

  (Mr. COFFMAN of Colorado asked and was given permission to address 
the House for 1 minute and to revise and extend his remarks.)
  Mr. COFFMAN of Colorado. Mr. Speaker, I rise today to speak in strong 
opposition to the latest in a line of misguided pieces of legislation 
the

[[Page 31426]]

House of Representatives has debated in the 111th Congress.
  The Wall Street Reform and Consumer Protection Act may sound like an 
effort everyone can endorse, but unfortunately it is just the latest 
government takeover of private industry. This legislation will greatly 
expand the powers of the Federal Reserve. Government agents of the 
Federal Reserve could now be responsible for breaking up a profitable 
company merely due to their opinion that an eventual failure could pose 
a systemic threat to our economy. This flies in the face of the free 
market ideals and the American Dream, which used to be work hard and 
you can accomplish anything. Due to the actions of this Congress, it 
now reads, ``Work hard, fail, the government will bail you out; work 
hard and do well, the government will take you down.''

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