SUBMITTED RELEASE FROM NEVADA STATE DEMOCRATIC PARTY
By Phoebe Sweet
LAS VEGAS–Washington Republicans pledged today to stand in the way of common sense reform of the big banking industry, which caused the current housing crisis with overwhelming greed and mismanagement.
Will Sharron Angle, Sue Lowden and Danny Tarkanian side with big banks, or will they support the restoration of responsibility and accountability to our financial system? Will they put Wall Street ahead of Main Street, or will they ensure that all Nevadans can have confidence in a financial system that will works for them?
Nevada Democrats call on Sharron Angle, Sue Lowden and Danny Tarkanian to stand up for ordinary Nevadans for once, instead of siding with their big-bank cronies.
This bill will:
· Create an independent watchdog with the power to ensure Americans get the information they need when choosing mortgages, credit cards and other financial products.
· Protect taxpayers being asked to bail out banks that get “too big to fail.”
· Create an alert system to identify economic problems before they threaten the rest of our economy.
· Regulate risky and abusive banking practices that have gone unnoticed in the past.
· Give shareholders a say on executive compensation.
· Create tough rules for transparency for credit rating agencies.
· Enforce the rules that are already on the books by increasing oversight.
“Republicans promised today to once again stand against the common sense legislation that is helping to pull out economy back from recession,” said Phoebe Sweet, communications director for the Nevada State Democratic Party. “But that’s because Republican have been rooting for our economy to fail for the last year–preferring to put partisan politics ahead of the needs of Nevadans.
“The only question is, will GOP Senate candidates Sue Lowden, Sharron Angle and Danny Tarkanian stand with Washington Republicans and big banks in the way of economic progress, or will they finally take a stand for the people they claim they’d like to represent.”