Congressman Kanjorski Discusses the Wall Street Reform Act on CNBC

On December 11, 2009, Congressman Kanjorski (PA-11), the Chairman of the House Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises, appeard on CNBC's Squawk Box to discuss the landmark Wall Street Reform and Consumer Protection Act of 2009. As a leader on the Financial Services Committee, Chairman Kanjorski has played a key role in drafting this landmark legislation. It contains four of Congressman Kanjorskis bills to reform Wall Street and the regulatory structure of financial services industry. It also includes the Kanjorski amendment which would empower federal regulators to rein in and dismantle financial firms that are so large, inter-connected, or risky that their collapse would put at risk the entire American economic system, even if those firms currently appear to be well-capitalized and healthy. Therefore, American taxpayers should no longer be on the hook for bailouts, as financial companies would not be able to become too big to fail.

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• Kanjorski
• Wall Street
• regulatory reform
• consumer protection
• bailout
• too big to fail
• systemic rish