Statements about Financial Regulation

"Warren Buffett called (Jeff) Greene's scheme 'financial weapons of mass destruction.' "

"25 percent of our economy is the financial sector."

"As Washington debates cracking down on the big Wall Street banks, I’ve passed legislation that does so."

"If there were not derivatives, there would be no bank loans at all today."

Jeff Greene "is the king of the undercover Credit Default Swap that brought about the destruction of our economy that we have right now."

"In the case of General Motors, the (Bush) administration wrote a check without asking for any conditions of change."

Steve Poizner "increased his department's budget nearly 14 percent."

Says U.S. Rep. Lamar Smith supported the $700 billion Wall Street bailout in 2008, "but now he is standing in the way of reforms that would assure these bailouts would never happen again."

Sen. Robert Bennett, R-Utah, cast votes for TARP, the stimulus, and an individual mandate for health care.

"McCollum admitted he didn't think that the subprime mortgage crisis was a big deal, telling reporters he thought that the subprime collapse had been exaggerated by the media and investors and that 'it's not the end of the world.' "

GM has "repaid our government loan, in full, with interest, five years ahead of the original schedule."

"Fifteen years ago, the assets of the six largest banks in this country totaled 17 percent of GDP ... The assets of the six largest banks in the United States today total 63 percent of GDP."

The financial services bill will end "too-big-to-fail."

The Banking Committee voted a 1,336-page bill "out of committee in 21 minutes with no amendments, with the understanding that before the bill came to the floor, we would reach this bipartisan agreement."

The financial services regulatory bill "will end taxpayer bailouts."

New financial regulation "actually guarantees future bailouts of Wall Street banks."

"The bill reported out of committee sets up a $50 billion slush fund that, while intended for resolving failing firms, is available for virtually any purpose that the treasury secretary sees fit."

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