Posted in News

Feingold statement on vote against financial reform legislation

   July 16, 2010

Yesterday Sen. Russ Feingold issued a statement outlining why he voted against the Senate’s financial reform legislation:

“At the outset of the debate over the financial regulatory reform bill, I made clear that my test for this bill would be whether it prevents another economic crisis. Unfortunately, this bill falls short. The reckless practices of Wall Street sent our economy reeling, triggered the worst recession since the Great Depression, and left millions of Americans to foot the bill. Despite these cataclysmic events, Washington once again caved to Wall Street on key issues and produced a bill that fails to protect the American people from the pain of another economic disaster. I will not support a bill that fails to adequately protect the people of Wisconsin from the recklessness of Wall Street.”

Share:

Related Articles

27 thoughts on “Feingold statement on vote against financial reform legislation”

  1. I am sure Feingold did not even read the bill. Although I think this bill is garbage, Feingold would not be happy until every last bit of wealth is transferred from people who produce to those that do not. That is his overall concern.

      1. Bofcudahy,

        Not really a far right buzz line. I want all congressman and senators to read every word of every bill every time, republican and democrat.

  2. Zach,

    Did you read all 2*** pages! Your correct I didn’t read the entire bill but I expect a senator, since that is what we pay him for, to read every bill, every page and reference.

    1. And how do you know Sen. Feingold didn’t read it? Did you call and ask his office?

      I remember when Sen. Feingold voted against the USA PATRIOT Act, and at the time, he said he voted against it because he actually read it and knew how it would erode our civil liberties.

  4. Yes, that is what everyone should do. I would bet my paycheck that he did not read the bill. This is an issue we have with all of our representatives, liberal and conservatives.

    They should be required by law to read every last word of every bill voted on.

    When conservatives take over we will investigate the real reason for the economic tragedy. As everyone knows, Freddie Mac, and Fannie Mae encouraged lenders to allow people to borrow money based on their skin color and genitals instead of merit and credit score. Too bad the actual cause of the melt down was not even mentioned in this bill?

    1. 4 posts, each dumber than the last. Thanks Kent.

      You know who read the health care bill?
      Senator Feingold.

  5. approximately 80% of the loans that defaulted were not freddie or fannie loans…you should of thrown in a cut on ACORN while you were at it.

    Kent, does your first post imply that wall st is creating wealth?

  6. Jim.

    See that is what liberals “progressives” do, call names. What do you do for a living?

    I went to a healthcare town hall with Feingold. His knowledge of our current healthcare system was just what I expected. He like you and the other progressives on this site have no idea how to solve the current problem. You don’t even know what the problem is, regarding healthcare.

    Why don’t you try and debate me on healthcare. Give it your best shot.

    1. I didn’t call you a name buddy, I called your posts dumb. I’m not going to beat my head against a wall on a beautiful Saturday debating health care with someone that doesn’t know the difference.
      What do I do for a living? I sell hardware.

      1. Jim first we are not buddies. Second I am an endocrinologist in Eau Claire, look it up, my last name is Ray. I also have a masters degree in clinical research, one in healthcare quality improvement, fellow ship trained in internal medicine and endocrinology.

        So Jim, when you don’t have anything better to do we can debate healthcare!

      2. Come on Jim, who are you, what do you do for a living and exactly what education do you have!

          1. Zach,

            Let Jim defend himself. Of course I invite you or anyone else on this site to a healthcare debate!

            1. Kent, Jim’s more than capable of defending himself; I was simply pointing out that he already answered your question.

                1. Which btw, has absolutely no relevance to any debate. On it’s face, college doesn’t necessarily make you smarter, and it also doesn’t make an opinion more or less valid.

                  1. I agree but progressives portend to own the mantel of knowledge in this country. Intelligence mostly innate, but knowledge is acquired. I have always been amused by the attitudes of liberals regarding how they view themselves superior in an intellectual way to conservatives.

                    Any way I agree with your last statement.

                    Have a good weekend.

  7. Proud Progressive,

    Your knowledge is overpowering, Freddie and Fannie buy almost 95% of all mortgages even interest only. They do not purchase jumbo loans, at least the portion over the conventional amount of 417K for the majority of the country. This is what caused the disaster and this is what should be fixed but the geniuses in power now did not even attempt to address it.

    1. So did Krugman make up the numbers or what?

      I’m going to enjoy the day, but I’ll check your links out later. I’m sure the anti-government Cato Institute provides an unbiased take on the issue.

      1. I’m sure the anti-government Cato Institute provides an unbiased take on the issue.

        Fact as, at this point, whatever credibility Krugman had as an economist is long gone. Ever since been making the argument that we should continue spending Trillions in stimulus and just ignore the debt, he shown he has no objectivity left and is no longer an economist but a political commentator. I have no idea why – but apparently in becoming a fan of Obama, he must have given up the part of his economist brain that covered inflation because if we get near the levels of debt he’d like to see, the inflation is going to make our the current economy a walk in the damn park. Hell, maybe he’s one of those guys who’s really long on gold.

Comments are closed.