GOP Leader: "President Obama can have his victory lap -- the American people just want their country back."

Contact: Michael Steel, Kevin Smith, 202-225-4000  

WASHINGTON, July 21 /Standard Newswire/ -- House Republican Leader John Boehner (R-OH) issued the following statement on President Obama signing his job-killing financial regulation bill:

"While President Obama pats himself on the back today, families and small businesses are bracing for yet another big-government overreach that will make it harder to create new jobs.  The legislation the president is signing today provides permanent bailouts for his Wall Street allies at the expense of community banks and small businesses around the country, while doing nothing to reform Fannie Mae and Freddie Mac, the government mortgage companies that triggered the financial meltdown by giving too many high-risk loans to people who couldn't afford them.  It's no wonder that the overwhelming majority of Americans say the president's plan won't work.

 

"House Republicans offered a better solution -- one that would stop the Democrats' permanent bailouts, reform Fannie Mae & Freddie Mac, protect taxpayers, and help small businesses create jobs.  Our better solution holds President Obama's Wall Street allies accountable, while his plan lets them off the hook.  Ultimately, it is President Obama and Democrats in Washington who will be held accountable for repeatedly failing to listen to the American people.  President Obama can have his victory lap -- the American people just want their country back."

NOTE: A recently released Bloomberg survey found that "four out of five Americans ... say they have little or no confidence that the measure being championed by congressional Democrats will prevent or significantly soften a future crisis.  More than three-quarters say they don't have much or any confidence the proposal will make their savings and financial assets more secure."