Congressman Gregory W. Meeks Praises Senate for Passage of Financial Reform Bill

(WASHINGTON, DC)–Congressman Gregory W. Meeks (D-NY) issued the following statement on the passage of the Wall Street reform legislation yesterday in the Senate:

“I commend my colleagues in the Senate for passing a historic bill that will reform practices on Wall Street and restore transparency, credibility and accountability to America’s financial markets. In light of the strong bill passed by the House in December, I believe we can harmonize the few differences between the House and Senate bills, and I look forward to working with Chairman Frank to produce strong, sensible legislation that will protect investors and put safeguards in place so that taxpayers never again have to bailout failed institutions. Completing the financial reforms quickly will further strengthen our current economic recovery, and ensure that it is built on a solid foundation, and no longer subject to the systemic risks that were made evident by the failure of financial firms such as Bear Stearns and Lehman Brothers and precipitated by the disastrous economic policies of President Bush.”