"The Republicans came very close to writing a bill that I could support. The Republican Leadership should take a page from Chairman Bliley's book on bipartisan cooperation in order to get things accomplished in the House. I supported HR 10 in the Commerce Committee and I wanted to be able to support it throughout the process. The Republican Leadership lost my vote on the rule and the bill because they would not include critical consumer and investor protections in HR 10 to give the ordinary citizen modest protections from the wealthy institutions that will benefit from this legislation. I continue to stand ready to work with the Republicans on these issues.

"I have many friends in the financial services industry who support this bill as written, and who are disappointed that I do not. Some of them even opposed the Dingell-LaFalce consumer protection amendments. However, Members of Congress have a broader responsibility than just to serve a broker function between warring industries. We must serve the public interest, in both the short term and the long term. The public interest is ill-served by diluting regulatory protections, no matter what industry becomes profitable as a result."

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