We just don’t understand how anyone in Congress, especially the Senate can oppose financial reform legislation.

Is it wrong to ask the firms on Wall Street to have sole accountability for bad financial decisions they make – not us tax payers? Is it wrong for the Federal Reserve to exhibit transparency on what deals they are making with these firms?

Maybe, it has to do with all the money the financial lobbyists are throwing at our elected representatives.

With credit cards interest rates from these guys at 20% to 30% (even for good paying customers) and the devastating effect their bad decisions have had on our economy and our retirement funds, it’s time for them to become responsible. If responsibility is in conflict with the need to make as much money as possible as fast as possible, it’s time for Congress to take serious and substantial action.

It’s time to reinstate the Glass-Steagall Act from 1933 that prohibits commercial banks from being engaged in the investment banking world. The Wall Street folks need to decide what they want to be: A commerical bank or an investment bank!

Vermont Senator Bernie Sanders released this statement – we agree with Senator Bernie Sanders 100%.

Sanders Statement on Financial Reform Vote

WASHINGTON, April 26 – Sen. Bernie Sanders (I-Vt.) issued the following statement after Republicans blocked the Senate from proceeding to legislation that would tighten regulation of the nation’s financial system:

“I am disappointed but not surprised that not a single Senate Republican voted to allow us to proceed to consideration of Wall Street reform.  I hope they reconsider. To my mind, it is absolutely imperative that we end the greed, recklessness and illegal behavior on Wall Street which has led to the loss of millions of jobs and the worst recession in modern history.”

Contact: Michael Briggs and Will Wiquist at (202) 224-5141