Wall Street Reform
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At the end of 2008, our country faced a financial crisis like we hadn’t seen since the Great Depression. As a member of the House Financial Services Committee, I worked diligently to secure passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Our country cannot afford another financial crash, and while not perfect I’m proud to have worked on this historic legislation.
For years Wall Street and many large investment institutions were not held accountable for their actions. This brought our country to its worst financial downturn since the Great Depression. The passage of the Dodd-Frank reform bill restores accountability and responsibility to American taxpayers and consumers.
Over the past five years, since the passage of Dodd-Frank, the stock market has risen to above 18,000, home values have increased and more than 12 million private-sector jobs have been created. Consumers have peace of mind that regulators are working to ensure financial products are safe and sound. The financial and banking regulators are now hard at work, promulgating the rules and regulations needed to protect America’s financial system.