Big Wall Street Bonuses Highlight Need for Financial Reform

Washington, D.C. - January 13, 2010 - (RealEstateRama) — Congresswoman Dina Titus released the following statement today on news reports that Wall Street banks are expected to again give out large bonuses this year.

“The latest reports that Wall Street banks plan to hand out large bonuses once again shows that they have learned nothing in the past year.  After receiving taxpayer funded bailouts, the last thing Wall Street bankers should receive is lavish bonuses while hard-working Americans continue to struggle to get by.

“I continue to hear stories from small business owners in my district that are struggling to get a loan or the credit they need from banks that are refusing to lend.  And too often, families that are fighting to avoid foreclosure have complained about banks that lose their paperwork, fail to return phone calls, and ignore their good-faith efforts to keep up with their mortgage payments.

“It’s time to hold Wall Street banks accountable for their actions that brought our financial system to the brink of disaster.  The House acted last year on important legislation to reign in Wall Street banks and increase oversight so that government regulators cannot fall asleep at the wheel.  I urge the Senate to act quickly in the new year on financial reform, because with Wall Street banks set to pay out large bonuses again, it is clear they have not learned the lessons of the worst economic recession in a generation.”

 

 

 

 

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