John E. Morton, managing director of the Pew Economic Policy Group, issued the following statement today in response to the introduction of “Restoring American Financial Stability Act of 2010,” which would reform the financial regulatory system.
“Chairman Chris Dodd's (D-CT) introduction of new financial reform legislation today is a meaningful step toward achieving reform in this Congress.
“Millions of Americans have lost their jobs, their homes and their savings as a result of a financial crisis which is now nearly two years old. Members of the Banking Committee have worked in a bipartisan fashion throughout this process, and we are encouraged that the bill incorporates ideas from both sides of the aisle.
“Americans deserve action now and are looking to Congress for the leadership that can deliver solutions to protect their financial future. Congress should rise above partisan politics and pass much needed financial reform to ensure that Americans have a safe, competitive and stable financial system for the 21st Century.”
Pew is no longer active in this line of work, but for more information, visit the main Pew Financial Reform page.