More Regulation is not the answer … but it is the solution du jour … so probably will happen.
WASHINGTON — House Democrats defended their Wall Street regulatory overhaul on Thursday against Republican criticism that the plan would perpetuate a bailout mentality.
In turn, Democrats accused Republicans of aligning themselves with the very financial institutions that caused the financial crisis.
As the House worked through dozens of proposals to change the measure, Democrats said the sweeping legislation would better protect consumers in their dealings with banks, credit card companies and other firms selling financial products while holding executives, rather than taxpayers, accountable for bad business decisions.
“The legislation,” said the House Speaker Nancy Pelosi, “says very clearly to Wall Street: the party is over.”