INDIANAPOLIS – Congressman Messer and Congressman Rokita yesterday voted to make another financial crisis more likely by passing legislation to undo comprehensive Wall Street reform.
The House of Representatives voted 233-186 for the Financial Choice Act on Thursday, which would “wipe away much of the financial law created to head off economic meltdowns” like the crisis that occurred in 2008, according to the AP.
Yesterday’s bill that Congressman Rokita and Messer supported would also repeal numerous crucial financial protections for individuals.
The Federal Reserve has described the American financial system as “more robust and resilient” than it was before the financial crisis, in large part because of the passage of comprehensive reforms. Undoing these reforms would reverse that trend and make another collapse more likely.
“Congressmen Messer and Rokita may be trying to get wealthy special interests on their side to fund an expensive Republican primary, but their vote puts Hoosiers on Main Street at great risk of another crippling financial crisis. This vote won’t help small businesses in Indiana—it just takes us back to a rigged system where the rich on Wall Street get richer and working families get the bill,” said Will Baskin-Gerwitz, Senior Media Strategist for the Indiana Democratic Party. “Hoosiers won’t forget that their Congressmen just put the interests of donors before the needs of the middle class.”