Issue Position: Cracking Down on Wall Street

Issue Position

Recklessness and greed on Wall Street caused the largest economic crisis since the Great Depression. It crippled our economy and cost people their jobs, hurt small businesses, and devastated seniors' retirement accounts and families' home values. Gary Peters is a leader in the fight to hold Wall Street accountable and implement tough new reforms that will ensure this never happens again.

Peters not only supports reform, he wrote legislation requiring Wall Street to pay back every penny of the taxpayer funded bailout. And Gary is taking aim at AIG and other firms that used taxpayer money to give lavish bonuses to their executives even as their companies and our economy collapsed. Under Peters' plan, Wall Street firms would be forced to give back these excessive corporate bonuses paid for at taxpayer expense.

Peters believes that real Wall Street reform must protect people and our economy from future financial crises, stop taxpayer bailouts once and for all and protect consumers from being swindled by deceptive financial products. It will also help end the casino culture and force Wall Street to loan to our small businesses and invest in job creating projects on Main Street again.

Peters' Wall Street Reform Plan will:

* Force Wall Street to pay back every penny of the taxpayer funder bailout;

* Require Firms like AIG to return excessive corporate bonuses paid for at taxpayer expense;

* Create the strongest consumer protections in history by cracking down on scams, hidden fees and predatory lending that led to the economic crisis;

* End Bank Bailouts and "Too Big to Fail" so taxpayers will never again be on the hook for Wall Street recklessness and greed;

* Protect retirement accounts from being decimated by Wall Street recklessness and strengthen enforcement powers to protect people with 401ks and other retirement savings from fraud.

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