WASHINGTON, DC – U.S. Senate Republican Leader Mitch McConnell made the following remarks on the Senate floor Thursday regarding financial regulation reform:

“In the fall of 2008, I reluctantly voted for a bill that sent taxpayer money to Wall Street banks that should have paid for their own mistakes. We were told it was needed to avert a global calamity. So I did it. And then I went back to my constituents and vowed: ‘never again’.

“Never again should taxpayers be on the hook for recklessness on Wall Street. And no financial institution should be considered too big to fail.

“So when the financial regulatory bill the Majority was about to bring to the floor last week still contained a number of loopholes allowing for future bailouts, I raised the alarm. I wasn’t about to take Democrat assurances that this bill protected taxpayers. I wanted them to prove it. Read the rest of this entry »