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Wall Street Reform and Consumer Protection Act Conference Now Streaming

Posted on by Karina

For eight years, President Bush and his Republican allies looked the other way as Wall Street and the big banks exploited loopholes, gambled our money on complex schemes, and rewarded failure and recklessness. America's families and small businesses paid the price–we lost 8 million jobs and $17 trillion in retirement savings and Americans' net worth in the meltdown:

Household wealth recovering.

As we rebuild our economy, we must put in place common-sense rules to ensure Wall Street and big banks can’t play Russian Roulette again with our futures. Wall Street may be bouncing back, but we know from experience they're not going to police themselves.

This afternoon, the House and Senate conferees are meeting on the Wall Street Reform and Consumer Protection Act–common-sense reforms that hold Wall Street and the Big Banks accountable will:

End bailouts by ensuring taxpayers are never again on the hook for Wall Street's risky decisions

Protect families' retirement funds, college savings, homes and businesses' financial futures from unnecessary risk by CEOs, lenders, and speculators

Protect consumers from predatory lending abuses, fine print, and industry gimmicks

Inject transparency and accountability into a financial system run amok

Watch the live webcast»

More on the conference:

Read H.R. 4173, Conference Base Text»

Read a Side by Side House – Senate Comparison»

Speaker Pelosi Names Conferees For Wall Street Reform»

House Conferees»

UPDATE: Chairman Barney Frank (D-MA) and Chairman Chris Dodd (D-CT) announced that the Conference Committee will meet next Tuesday, June 15th, at 11am EST for consideration of:

Title 3 of base text: OTS/OCC merger; thrift charter
Title 5 of base text: Insurance
Title 4 of base text: Private Funds
Title 9, subtitle C of base text: credit rating agencies

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