Pass Financial Regulatory Reform

Floor Speech

Mr. HIMES. Mr. Speaker, it's not even 3 years since Bear Stearns landed flat on its back, that Lehman Brothers landed flat on its back, that AIG contributed to a destruction of our economy which resulted in the destruction of $17 trillion of the household wealth of the American people.

We have spent the last year assembling a commonsense, market-oriented package of reforms, bringing derivatives onto exchanges, creating an agency which prevents mortgage brokers from selling mortgages to American families that that broker knows can't possibly be repaid.

Yet the other side is saying ``no,'' saying ``no'' to the kind of commonsense reform that will restore Americans' faith in their system, make them comfortable investing in America. Yesterday in the other body, a big step back was taken.

The time is now if we are to be serious about addressing the crisis that this country is only now emerging from for this House to set aside partisanship and pass financial regulatory reform.

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