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“Kaptur told the House that the measure to “support the very same big banks (that caused the crisis) and not the American people and the communities in which we live, in the Main Street that all of us are sworn to represent.”
In particular, she complained: “The bill allows financial power to create wealth, the bankers’ awesome power, to be closely held in a few Wall Street and Charlotte-based megabanks. The bill does not address the business model of credit rating agencies or how interwoven these nongovernmental agencies are with the institutions they rate. The bill does not require that all derivatives be traded through transparent exchanges. The bill does not adequately support both agencies dedicated to finding and fighting fraud in our financial system, and it really doesn’t do anything to address the continuing mortgage foreclosure hemorrhage, the crisis going on across our country.”
In other words, this in not reform.
And unlike most members of the House — Democrats and Republicans, liberals and conservatives — Marcy Kaptur is serious about reform.”