Weekly Address: “Finishing the Job on Wall Street Reform”

The full transcript is here.  No, this legislation – like any legislation – isn’t perfect.  However, as the White House points out, it “reflects 90 percent of what the President originally proposed, includes the strongest consumer financial protections in history with an independent agency to enforce them.”  It also “ensures that the trading of derivatives, which helped trigger the crisis, will be brought into the light of day, and enacts the ‘Volcker Rule,’ which will make sure banks protected by safety nets like the FDIC cannot engage in risky trades.” Not too shabby. Great work by Harry Reid, Nancy Pelosi, Barney Frank, Chris Dodd, and everyone else who worked on this bill!