Main Street on the Hook for Manhattan's Wall Street

Mr. WILSON of South Carolina. Mr. Speaker, yesterday, the House passed a financial regulatory bill, which shows Washington liberals once again how out of touch they are with the needs of hardworking Americans. Small business owners and community bankers across South Carolina will be adversely impacted by this bill.

Justin Strickland, president of Southern First Bank in Cayce, and father of former House floor page Justin Strickland, Jr., said that ``this bill adds 30 new regulations that will severely limit the ability of small banks to extend credit to South Carolinians.'' Hal Stevenson, CEO of Grace Outdoor in Columbia, explains that this big bank bailout discourages lending to small businesses and reduces job creation. Calling this a reform bill is insulting when it fails to address the giants in the financial collapse, Fannie Mae and Freddie Mac. Failing to tackle these two cancerous entities is like going in for surgery and keeping the giant tumor in place.

In conclusion, God bless our troops and we will never forget September 11th in the global war on terrorism.

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