Statements about Financial Regulation
AIG has fully repaid the federal government "plus a profit of more than $22 billion."
Says "Mitt Romney’s plan rolls back regulations" on banks.
On the Troubled Asset Relief Program (TARP)
"Bank of America could create 878,300 jobs with benefits if they spent their 2010 bonuses on job creation."
"In 2006, I went out and authored a letter with 24 other senators asking for major reform of Freddie and Fannie, warning of a meltdown and a bubble in the housing market."
Newt Gingrich says electric co-ops and credit unions are "government-sponsored enterprises" like Freddie Mac.
Says Freddie Mac, electric co-ops and credit unions are all "government sponsored" enterprises.
"Community banks … are being destroyed by Dodd-Frank."
"Not a single banker, a CEO from Wall Street, anyone from corporate America — nobody, (there was) not one arrest of any of these people who brought down the economy in 2008."
"Today, you have six financial institutions, the largest six, that have assets that are the equivalent of 60 percent of the GDP of the United States of America."
The budget for the Consumer Financial Protection Bureau "is only about 1 percent of the amount banks generate just from late fees and overdraft fees."
"Less than two years ago, we made a commitment to repay the U.S. . . .taxpayers in full, and today we made good on that promise."
The financial regulatory bill "will kill jobs."
"CEOs now earn 431 times what their workers earn."
Stabilizing the recent financial crisis "will cost less than 1 percent of GDP," which is less than the 2.5 percent to fix the savings and loan crisis of the 1980s.
The Chilean "privatization scheme" that Sharron Angle supports "has resulted in hidden fees, fewer benefits, and millions of people with no coverage."
"25 percent of our economy is the financial sector."
"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."
Sen. Robert Bennett, R-Utah, cast votes for TARP, the stimulus, and an individual mandate for health care.
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