House Minority Leader John Boehner, on the financial reform bill now being finalized in Congress for adoption and signing by President Obama:
“This is killing an ant with a nuclear weapon. There are faults in our regulatory system, some in terms of transparency, most as a result of ineffective enforcement by the bureaucracy who have no idea what these financial products look like today. That could’ve been fixed, but that’s not what we have here.
This bill institutionalizes too big to fail, puts the government on the hook and gives them the ability to bail out anyone, and allows these unelected bureaucrats to make decisions on behalf of the government in terms of who they’re going to bail out, who they’re going to take over, who they’re going to control, whether they’re a financial firm or not….
I just hope this bill is out there for several weeks so that the American people can see it and the American people can understand it.”