Casey: Blocking Wall Street Reform a Win for Big Banks

WASHINGTON, DC—After Senate Republicans voted to block the Senate from moving forward with legislation to add safeguards to protect against risky Wall Street maneuvers that threaten the economy, U.S. Senator Bob Casey (D-PA) released the following statement:

“Senate Republicans again put politics before policy by blocking consideration of legislation to reform the way Wall Street operates,” said Senator Casey.  “We have to put consumers ahead of profits for the big banks.  After a global recession and the resulting massive job loss triggered by the irresponsible actions of Wall Street, it makes no sense to halt debate on legislation to require more accountability and transparency for Wall Street gambles.  I hope that Senate Republicans reconsider whose side they are on.”

Senator Casey voted today to move forward with the Wall Street reform legislation.  Last week, he voted in the Senate Agriculture Committee for the Wall Street Transparency and Accountability Act that would bring more scrutiny and safeguards to the largely unregulated $600 trillion derivatives market.