Larson Commends Dodd's Regulatory Reform Legislation

Washington, DC – Congressman John B. Larson (CT-01), Chairman of the House Democratic Caucus, released the following statement on Senator Chris Dodd’s draft legislation for financial regulatory reform.

“I commend my colleague and friend Senator Chris Dodd (D-CT) for taking a bold and important step to protect the American people from a future financial crisis like the one this country experienced a year ago.  Senator Dodd’s draft legislation provides a good framework to reform this nation’s outdated regulatory system, putting the American people and Main Street– not Wall Street – first.  

“Wall Street’s irresponsible and often unethical behavior led to the worst financial crisis this country has seen since the Great Depression.  A year later, after being rescued by billions of dollars of taxpayer funds, executives on Wall Street have failed to change their ways and act with the public interest in mind.  If they will not change on their own, we will help them.  Senator Dodd’s legislation will help curb excessive risk-taking and irresponsibility while encouraging innovation and entrepreneurship across the country, because our economic recovery must extend beyond Wall Street to all of our communities and neighborhoods.”