Home Kaine statement on GOP efforts on financial industry
Local

Kaine statement on GOP efforts on financial industry

Contributors

 
Staff Report
News Tips: [email protected]

Democratic National Committee Chairman Tim Kaine issued the following statement after Roll Call reported that House Republican leaders, including Minority Leader John Boehner (R-Ohio) and Minority Whip Eric Cantor (R-Va.), met with more than 100 Wall Street lobbyists yesterday to strategize a plan to kill financial regulatory reform:

“One year ago this month our economy lost 700,000 jobs. The credit market was frozen stiff. And trillions of dollars in personal wealth had been destroyed, as the stock market plunged and the global financial system teetered on the edge of total collapse.

“Congressional Democrats, led by House Banking Committee Chairman Barney Frank (D-MA) and Senate Banking Committee Chairman Chris Dodd (D-CT), are crafting financial regulatory reform legislation to protect American consumers and put an end to the reckless decisions and abusive practices used by too many in the financial industry that put our entire system in peril.

“It’s disappointing that Eric Cantor and House Republicans have decided, once again, to side with their Wall Street lobbyist friends, instead of the American people. We hope they will instead decide to join Democrats in crafting reform that will close the current loopholes in regulations, strengthen oversight of financial institutions and pursue financial fraud. It’s time we gave the people on Main Street confidence that there are rules in place that work for them – not just the Wall Street banks and their lobbyists.”

Contributors

Contributors

Have a guest column, letter to the editor, story idea or a news tip? Email editor Chris Graham at [email protected]. Subscribe to AFP podcasts on Apple PodcastsSpotifyPandora and YouTube.

Latest News

steve enright bridgewater
Sports

Bridgewater College basketball coach Steve Enright leaving for Keene State job

jmu football
Sports

JMU introduces Eastern Kentucky AD Matt Roan as new athletics director

It’s been a busy couple of days of changes at the top at James Madison University, with the school naming Charlie King the interim president, and a new person being put in charge of the athletics department, Matt Roan, of late the AD at Eastern Kentucky.

Taylor Swift in concert in New York
Arts & Media, US & World

‘The Tortured Poets Department’ is here: Happy release day for Swifties everywhere

At 2 a.m. ET, Taylor Swift announced “The Tortured Poets Department” is actually a double album, meaning 31 new songs are out today, under the title “TTPD: The Anthology.”

senior citizen smelling flowers in garden
Climate, Virginia

Warmer weather in Virginia means earlier planting times, longer harvest season, more bugs

live music concert
Schools, Virginia

Shenandoah Conservatory to offer three-day summer guitar festival

arrest handcuffs jail prison sentence
Public Safety, Virginia

Richmond Police: Suspect charged in homicide of 14-year-old male

crime scene tape
Public Safety, Virginia

Police: Richmond man charged in Deforrest Street juvenile homicide