Mar 15 2010

SHELBY STATEMENT ON DODD LEGISLATION

U.S. Senator Richard Shelby (R-Ala.), ranking Republican on the Senate Committee on Banking, Housing, and Urban Affairs, today made the following statement regarding Chairman Dodd’s financial regulatory reform legislation:

“Republicans want to reach a bipartisan agreement with Chairman Dodd on substantive financial reform that protects taxpayers, strengthens our economy, and preserves the competitiveness of our financial markets.  Over the coming days, my Republican Banking Committee colleagues and I will give Chairman Dodd’s proposal the serious consideration it deserves. 

“Given the magnitude, complexity, and importance of this task, it is critical that we have sufficient time for a thorough review.  This bill is 1,336 pages long.  Forcing the Banking Committee to vote on this proposal in a single week is unrealistic and undercuts the potential for bipartisan agreement.  Strong reform should not fear scrutiny.”