DNC Chairman Tim Kaine Celebrates House Passage of Final Wall Street Reform Legislation

Jun 30, 2010, 23:00 ET from Democratic National Committee

WASHINGTON, June 30 /PRNewswire-USNewswire/ -- Today, Democrats in the House successfully passed the conference report of the Wall Street Reform legislation.  In response, DNC Chairman Tim Kaine issued the following statement:

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"Today, Congressional Democrats moved Wall Street Reform one step closer to reality.  As a result, this legislation is now on the verge of final passage.  And when the President puts his pen to this bill and signs it into law, Americans across the country will have reason to celebrate.  This bill will address the root causes of the economic crisis by reining in big banks' risky financial practices, and it will provide the strongest-ever financial protections for American families and businesses.  Wall Street Reform will prevent future economic disasters and lay the foundation for stable, secure growth.

"Unfortunately, we have reached this point not through bipartisanship, but by overcoming repeated Republican attempts on behalf of their special interest allies to resist needed reforms to protect Americans from Wall Street's worst practices.  Time and again, Republicans in Congress have used their votes to defend big banks, big oil, and big insurance companies at the expense of the American people.  That's not leadership – it's just wrong.  I urge Senate Republicans to join with Democrats in the final vote for Wall Street Reform to enact this legislation as quickly as possible."

SOURCE Democratic National Committee