“Together, we can end Wall Street bailouts,” House Financial Services Committee Chairman Jeb Hensarling (R-TX) says in this week’s Republican address, which marks the fifth anniversary of the Dodd-Frank law that has hurt our economy and made it harder to create jobs.
Here are some key quotes from the address, which you can watch now:
"You may not have heard of Dodd-Frank, but it’s essentially Obamacare for our economy and your household finances. And just like Obamacare, Dodd-Frank has left us with fewer choices, higher costs and less freedom."
“When President Obama signed Dodd-Frank into law five years ago with much fanfare and celebration, we were told it would ‘lift the economy,’ ‘end too big to fail’ and ‘increase financial stability.’ It didn’t happen.”
“Dodd-Frank did nothing to reform Fannie Mae and Freddie Mac, which were at the epicenter of the crisis. It enshrined taxpayer-funded bailouts and ‘too big to fail’ into law, and it imposed 400 new burdensome, job-destroying regulations upon our economy.”
“Services that we all once took for granted – like free checking – are being curtailed or eliminated because of Dodd-Frank. Before, 75 percent of banks offered free checking. Just two years after Dodd-Frank became law, that number was cut almost in half.”
”If we want strong economic growth, more freedom and an end to bailouts, it’s time we commit to making sure this anniversary is Dodd-Frank’s last anniversary. House Republicans are working to do just that. Together, we can end Wall Street bailouts, have a healthier economy, and protect consumer choice.”
In its report on the address, The Hill notes that “Hensarling has pushed for a series of hearings in an effort to make the case that the law should be revisited, casting it as a threat to the economy.
Watch the address now, and learn more about our efforts to address the people’s priorities.
