John E. Morton, managing director of the Pew Economic Policy Group, issued the following statement in response to Majority Leader Harry Reid's decision to move consideration of the financial regulatory reform package to the top of the Senate calendar.
“With the announcement that the Senate is now scheduled to begin floor debate on a comprehensive financial regulatory reform package this week, we urge Senators to enact real reform to protect Americans and our financial system. Senators from both sides of the aisle can and should work together to pass a final bill that: creates an early warning system; ends ‘Too Big To Fail' and bailouts; increases transparency in markets; and provides meaningful consumer protections. Financial reform must significantly reduce the likelihood of future crises and ensure that, should a crisis occur, the American taxpayer is not left covering the tab.”
Pew is no longer active in this line of work, but for more information, visit the main Pew Financial Reform page.