[Congressional Record (Bound Edition), Volume 156 (2010), Part 4]
[Senate]
[Pages 5561-5562]
[From the U.S. Government Publishing Office, www.gpo.gov]




                            FINANCIAL REFORM

  Mr. McCONNELL. Madam President, two things have become increasingly 
clear over the past week in the debate about the need to protect 
taxpayers from the mistakes of Wall Street: No. 1, both parties are 
united in the need to take action--we agree on that--and No. 2, the 
bill our colleagues across the aisle are insisting on as the remedy is 
seriously flawed.
  The good news is that the bill can be improved, and both sides have 
expressed a willingness to make the changes needed to ensure without 
any doubt--without any doubt--that this bill would not allow future 
bailouts of Wall Street banks. We need to make sure future bailouts of 
Wall Street banks never occur again.
  I was encouraged to hear the President yesterday acknowledge that it 
is his hope that the bill which emerges from this debate will not allow 
for bailouts. I share that hope. Republicans believe the solution is 
for the bipartisan talks to resume between Chairman Dodd and Ranking 
Member Shelby and others and not for one side to insist on a take-it-
or-leave-it approach.
  Like the President, I hope we can get back together and address this 
very important issue on a bipartisan basis. Republicans and Democrats 
alike believe the flaws in the Democratic bill--flaws that would allow 
taxpayer dollars to bail out Wall Street banks--can and should be 
corrected. Let's get this done. Let's take away any possibility that 
taxpayers will once again be told they will be on the hook for mistakes 
on Wall Street.
  Madam President, I yield the floor, and I suggest the absence of a 
quorum.

[[Page 5562]]

  The ACTING PRESIDENT pro tempore. The clerk will call the roll.
  The assistant legislative clerk proceeded to call the roll.
  Mr. CASEY. Madam President, I ask unanimous consent that the order 
for the quorum call be rescinded.
  The ACTING PRESIDENT pro tempore. Without objection, it is so 
ordered.

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