[Congressional Record (Bound Edition), Volume 156 (2010), Part 7]
[House]
[Page 9257]
[From the U.S. Government Publishing Office, www.gpo.gov]




                   REGULATING OUR FINANCIAL INDUSTRY

  (Mr. MURPHY of New York asked and was given permission to address the 
House for 1 minute.)
  Mr. MURPHY of New York. Mr. Speaker, as a small business man, I came 
to this Congress a year ago to solve problems. One of the critical 
problems facing the United States right now is how to regulate our 
financial industry. Everyone in this country knows that, over the past 
decade, Washington has failed to regulate our financial industry, and 
some people on Wall Street took advantage of that to take outsized risk 
and to cause a financial collapse that impacted people all across this 
country.
  Today, we stand at the precipice of coming up with legislation that 
will end bailouts, that will provide consumer protections, and that 
will regulate and illuminate the complex derivatives markets.
  As a small business person who came here to solve problems, I cannot 
understand why no one on the other side of the aisle, why none of my 
Republican colleagues, is interested in solving this problem. There 
don't seem to be any reasons why not, yet they continue to refuse to 
move forward to solve the problem that we all face in America.
  I hope, over the next month, the Republicans in this Chamber will 
join with the Democrats in regulating our financial industry in a 
sensible and sound way to protect American consumers and to make sure 
that we have sound and responsible financial markets.

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