Kerry on Republican Blockage of Wall Street Reform

Kerry on Republican Blockage of Wall Street Reform

WASHINGTON, D.C. – Senator John Kerry (D-Mass.), a senior member of the Finance and Commerce Committees, tonight released a statement after Senate Republicans blocked an effort to reform Wall Street and prevent the next economic crisis:

“This is not a good moment for the United States Senate. It’s been nearly two years since the Wall Street meltdown and still the Republicans are blocking reforms to end the policies that allowed it to happen in the first place. Every day that goes by without reform is an invitation to more taxpayer bailouts and Wall Street greed over reform to protect Main Street. A free pass for Wall Street left American taxpayers holding the bag with jobs destroyed and life savings wiped out. The bare minimum the Senate should do is pass legislation to end the era of ‘too big to fail,’ and if Senate Republicans won’t do that, they should at least allow the debate to go forward. We’re just trying to provide transparency and regulate the derivatives market, insist on supervision, protect investors, and improve disclosure for executive compensation. That should be a shared responsibility for governing.”