Press Releases

WASHINGTON – Republican National Committee (RNC) Chairman Michael Steele released the following statement today:

“President Obama is pushing financial regulatory reform legislation that will do more harm than good to American taxpayers and our economy. The bill currently being considered in the Senate would undoubtedly continue bailouts of financial institutions, encouraging companies to take the same risky bets that put our economic well-being in danger. It permanently enshrines ‘too-big-too-fail’ into law, piling on additional layers of job-killing bureaucracy that could add more instability to our financial markets. And despite their role in creating an unsustainable housing bubble and leaving taxpayers on the hook for billions of dollars, Fannie Mae and Freddie Mac are left untouched. Republicans are still hopeful for bipartisan legislation, but President Obama and Congressional Democrats must stop stubbornly pushing a partisan bill that won’t protect American taxpayers.”