Menendez Statement On Republican Obstruction Of Wall Street Reform

Menendez Statement On Republican Obstruction Of Wall Street Reform

Points out that Republicans are simultaneously defending Big Banks and Big Oil in Senate this week

Washington - All but two Senate Republicans voted to stall Wall Street reform this afternoon by opposing the motion to limit the remaining time following weeks of debate. 60 votes were needed, and the motion fell three votes short. This action comes at the same time that Republicans have repeatedly objected to quick passage of Senator Robert Menendez's (D-NJ) Big Oil Bailout Prevention legislation, which would raise oil company liability for spills from $75 million to $10 billion. Menendez said following today's vote that Republicans are defending two separate big corporate interests at once this week:

"Republicans have fought on the side of big banks time and again over the past few weeks, meeting with Wall Street behind closed doors, obstructing the beginning of this debate, and now obstructing the end. American families who have spent the past couple of years worried about their jobs, homes and savings want action on Wall Street reform, not more stalling on behalf of the banks. This week in particular has shown the American people where our Republican colleagues stand when it comes down to them and the special interests. Whether it's protecting big oil and big banks, Republican actions leave American workers and taxpayers exposed."

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