[Congressional Record (Bound Edition), Volume 156 (2010), Part 1]
[House]
[Page 764]
[From the U.S. Government Publishing Office, www.gpo.gov]




             WALL STREET REFORM AND CONSUMER PROTECTION ACT

  (Mr. POLIS asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. POLIS. Mr. Speaker, in the last Congress, with the last 
administration, President Bush came to Congress during the financial 
meltdown, along with Secretary Paulson, and asked for hundreds of 
billions of dollars. They said they were going to use it to buy bad 
debt from the banks. It was threatening to bring down our financial 
system. Did they use it for that? No. Instead, they started to use it 
to nationalize American companies. They bought automobile companies; 
they bought banks. They used the government to take over the means of 
production.
  It now falls to us to break this socialist stranglehold on our 
country. The Wall Street Reform and Consumer Protection Act is one of 
the first steps. We ban future TARP bailouts. We require the companies 
pay into a fund. No longer will companies be bailed out by taxpayer 
dollars. I call upon the United States Senate to pass the Wall Street 
Reform and Consumer Protection Act and for us to take additional steps 
to privatize these companies that the Federal Government now owns.

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