Sessions Statement On President Obama's Regulatory Agenda

Statement

Sessions Statement On President Obama's Regulatory Agenda

U.S. Congressman Pete Sessions (TX-32) today released the following statement regarding President Obama's speech on Wall Street in which he outlined his regulatory agenda:

“In the year since the financial sector meltdown, Washington has capitalized on crisis by forcing government takeovers of industries ranging from financial services to automakers. With no clear exit strategy from bailouts and takeovers, President Obama today outlined his agenda for more government regulatory interference in the private sector. More than 3 million jobs have been lost this year, and the American people are increasingly alarmed as this Administration's commitment to vastly expanding the role of government.

“In April, I wrote a letter to Treasury Secretary Tim Geithner, asking for an exit strategy from the government's ownership in private enterprise. Like previous congressional letters on the issue, my exit-strategy inquiry went unanswered. House Republicans stand ready to work with President Obama on a regulatory reform plan to strengthen our markets by ending bailouts, protecting consumers from fraud, and promoting transparency and accountability in the marketplace.

“The American people know that we cannot regulate, borrow, and spend our way back to economic growth. It's time for Congress to empower the free enterprise system to create jobs and grow our economy. Millions of unemployed Americans are depending on it.”

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