KUNC: Senator Michael Bennet says Financial Reform Should be Next

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By Erin O'Toole

Now that the healthcare legislation has been passed, Colorado Senator Michael Bennet says financial reform needs to be the next order of business. Congress expects to take up the issue when it reconvenes in two weeks. Senator Bennet says he's enthusiastic about the chances of getting legislation passed this year, and thinks that - unlike the healthcare overhaul - it will enjoy support from both Democrats and Republicans.

One key component of any financial reform legislation, he says, is to ensure that no bank or agency will be allowed to become too big to fail.

"Maybe more than anything else, we need to make sure the taxpayers never again come out of pocket to rescue one of these financial institutions, and I think this bill accomplishes that. And because it accomplishes that, I think we're going to see bipartisan support."

Last week the Senate Banking Committee approved several of Bennet's amendments to the bill - including one that would strengthen government oversight over credit rating agencies. Bennet spent much of Monday gathering input on how to jump-start the economy with small business owners and student entrepreneurs in Loveland, Colorado Springs and Pueblo.

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