Apr 16, 2010
DCCC Chairman Van Hollenís Statement on the Fraud Charges Filed by the SEC
DCCC Chairman Chris Van Hollen released the following statement on the fraud charges filed today by the Security and Exchange Commission:
“Today’s news that the Security and Exchange Commission is filing fraud charges against a big investment firm is another important reason why we must rein in Wall Street abuses and protect taxpayers. The reckless and irresponsible behavior that caused the financial meltdown and the ensuing loss of millions of jobs was facilitated by years of Bush Administration and Republican policies that favored big banks over consumers and taxpayers.
“Now, instead of working to pass tough new rules that would prevent these sorts of abuses, Republican leaders Mitch McConnell and John Boehner are wooing Wall Street executives’ support with promises that Republicans will oppose any significant Wall Street reform measures.
“During the debate on Wall Street reform, Americans will clearly see whether Washington Republicans will continue to put big banks before what is good for consumers and taxpayers. Republicans in Congress should do the right thing and work with Democrats to end abuses on Wall Street and reign in big banks.”