Wall Street Reform is Official

Statement

Yesterday I had the chance to join President Obama as he signed the Wall Street Reform Bill into law. This bill lays out new rules for Wall Street by cracking down on big bank abuses. It also improves accountability and transparency in the financial sector, and ends taxpayer-funded bailouts and protects consumers. The Wall Street Reform and Consumer Protection Law of 2010 is the strongest reform of Wall Street since the 1930s.

This bill protects Colorado taxpayers from having to rescue the big banks that took sloppy and excessive risks that nearly wrecked our economy. It also includes key parts of my Pay it Back Amendment, which winds down the bailout fund TARP and helps to pay down the deficit. Taxpayers who were forced to bring the big Wall Street banks back from the brink of collapse are now assured that they aren't stuck supporting a revolving bailout fund. TARP will come to an end.

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