A Quote by Seth Moulton
I voted against H.R. 4293, the Stress Test Improvement Act of 2017, which would modify the regulatory oversight of certain financial institutions in a way that is likely to expose our economy to greater risk.
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For market discipline to constrain risk effectively, financial institutions must be allowed to fail. Under optimal financial regulatory and financial system infrastructures, such a failure would not threaten the overall system.
Large financial institutions in this country will always play a role that is essential to our economic growth. But they must only be permitted to grow and interconnect, throughout our economy, under careful oversight and with a mechanism for allowing those connections to be broken safely.
There is a simple way of avoiding excess risk-taking by the managers of our financial institutions. It is to make it a crime ... had a crime for reckless management of a financial institution been on the books, Northern Rock and RBS would not have blown up.
The use of a growing array of derivatives and the related application of more-sophisticated approaches to measuring and managing risk are key factors underpinning the greater resilience of our largest financial institutions... Derivatives have permitted the unbundling of financial risks.
To restore confidence in our markets and our financial institutions so they can fuel continued growth and prosperity, we must address the underlying problem. The federal government must implement a program to remove these illiquid assets that are weighing down our financial institutions and threatening our economy.
The global financial crisis is a great opportunity to showcase and propagate both causal and moral institutional analysis. The crisis shows major flaws in the way the US financial system is regulated and, more importantly, in our political system, which is essentially a bazaar of legalized bribery where financial institutions can buy themselves the governmental regulations they want, along with the regulators who routinely receive lucrative jobs in the industry whose oversight had formerly been their responsibility, the so-called revolving-door practice.
In reality, Senator Shelby's Financial Regulatory Improvement Act is nothing more than a wish list for the Wall Street bankers that fund his campaign.
In the future, financial firms of any type whose failure would pose a systemic risk must accept especially close regulatory scrutiny of their risk-taking.
If Senator Shelby calls his Financial Regulatory Improvement Act anything other than a hand out for the big banks, then he is being untruthful, and the people of Alabama deserve better.
I voted in support of H.R. 5192, which seeks to curb identity fraud by requiring the Social Security Administration (SSA) to develop a database that financial institutions can use to compare their consumer data against SSA records.
I voted against H.R. 38, the Concealed Carry Reciprocity Act of 2017. This bill would require states to accept the concealed carry requirements of all other states - even those that have significantly lower standards or no standards at all.
Tea Party people know that I stood against the Wall Street scam from Day One, that I voted against TARP, that I voted against repealing Glass-Steagall Act that kept these guys under some control.
We also must pull from our highest ideals of justice and protect against those ills that destabilized our economy - like predatory lending, over-leveraged financial institutions and the unchecked avarice of the past that trumped fairness and common sense. Our platform calls for significant cuts in federal spending.
I've got a really long record around progressive politics, especially when it comes to the economy. Voted against the Bush tax cuts. Voted against the Trump tax cuts. Believe in investment into lifting people up, closing the opportunity gaps that exist in our society.
Well, there’s 10 - there’s 10 different - there’s 10 different titles, you know, to the Civil Rights Act, and nine out of 10 deal with public institutions. And I’m absolutely in favor of one deals with private institutions, and had I been around, I would have tried to modify that.
The financial hardships caused by COVID-19 puts some renters and homeowners at risk of becoming homeless, which could mean greater risk of contracting and spreading the coronavirus for families.
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