Hoyer Statement on Republican Efforts to Dismantle Wall Street Reform

For Immediate Release:

May 11, 2011

Contact:

Katie Grant, 202-225-3130

WASHINGTON, DC - House Democratic Whip Steny H. Hoyer (MD) released the following statement today on Republican efforts to dismantle Wall Street Reform:

“This week, House Republicans are working to dismantle protections against speculation in the oil markets, which may drive gas prices up for American families. Democrats believe that aggressive oversight of oil speculation is an important part of an energy policy that can bring down gas prices for consumers and ensure that businesses have the fuels they need at a reasonable cost. But Republicans are once again failing to meet the challenge of high gas prices.

“At the same time, House Republicans are moving to dramatically weaken the Consumer Financial Protection Bureau, which was created in response to economic crisis that cost millions of Americans their jobs. Democrats created this agency to help prevent another job-destroying crash from recurring, and to safeguard Americans against predatory lending that takes advantage of middle-class families. It is remarkable that—while we are still feeling the effects of the crisis—Republicans are taking steps that would make it harder to prevent another one. In both of these instances, Republicans have failed to put the interests of working Americans first.”

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