Kay Bailey Hutchison on Financial Regulatory Reform on Senate Floor
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Uploaded by SenatorHutchison on Apr 21, 2010
U.S. Senator Kay Bailey Hutchison, a member of the Senate Banking Committee, spoke on the Senate Floor on Wednesday, April 21, 2010 about financial regulatory reform legislation.
In her speech, Senator Hutchison notes that Republicans and Democrats agree that we must end the policy that some financial institutions are too big to fail. However, the legislation under consideration doesn't end 'too big to fail.' It continues this failed policy.
Senator Hutchison also defends local community banks like those throughout Texas that provide the lending and deposit services for our nations small businesses so that they may continue to operate, invest, create jobs, and drive our economy.
In the coming days the Senator intends to offer an amendment to permit community banks to remain under the supervision of the Federal Reserve. If the Fed supervises only the largest firms, it will gear monetary policy toward these large financial institutions, effectively leaving out the voice of community bankers in my state and across the country.
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