Historic

News
By Research Team at July 21, 2010 - 1:22pm

Today was an historic day.

We did it. Heather Booth of Americans for Financial Reform celebrates:

With his signature, President Obama ushers in a sea change after decades when the big banks were allowed to write their own rules, take advantage of consumers, and collect huge bonuses for themselves while leaving the rest of us to pay the costs of their recklessness. The financial reform legislation will empower consumers by putting an independent advocate on their side when it comes to buying homes and managing their credit. Banks and other financial institutions will no longer be allowed to gamble with our money for their profit, and risky investments will be forced out into the light of day. Families and businesses alike will benefit from increased transparency and security, and from pushing banks away from speculation and towards making sound loans.

We applaud the President and Congress for their leadership in guiding this legislation into law, a clear victory for Main Street. We look forward to ensuring that these strong reforms are implemented with all Americans in mind.

Today, we celebrate. Tomorrow, we get back to work.

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