Pelosi: By Blocking Tough Wall Street Reform, Republicans Are Siding with Wall Street Over Main Street

WASHINGTON, April 26 /PRNewswire-USNewswire/ -- Speaker Nancy Pelosi released the following statement after Republicans voted tonight to block debate on Wall Street reform in the U.S. Senate:

"For more than a decade, Congressional Republicans failed to provide robust oversight of Wall Street, which crippled our financial system and resulted in 8 million jobs lost for America's workers. Tonight, Senate Democrats tried to begin debate on tough accountability and transparency for big banks and for Wall Street – but Republicans said no. Once again, they sided with Wall Street over Main Street.

"Democrats in Congress are committed to reining in the excesses of Wall Street and standing with America's middle class. In December, the House passed the Wall Street Reform and Consumer Protection Act, which ends taxpayer-funded bailouts, unwinds so-called 'too big to fail' firms, requires that consumers get the information they need to make smart decisions, reforms executive pay, and holds the big banks and Wall Street accountable to American taxpayers.

"Just as every Senate Republican did tonight, every House Republican sided with Wall Street and voted no in December.

"While Congressional Republicans protect special interests and big banks, Democrats are fighting to protect consumers and small businesses. We must act now to restore responsibility to Wall Street."

SOURCE Office of the Speaker of the House

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