Missouri’s Republicans in DC Just Voted to Put Us Back in the Same Danger We Faced Before the ’08 Financial Meltdown
Amid the tumult of DC yesterday, the Republican-controlled House of Representatives voted to dismantle rules designed to protect working families from Wall Street after the 2008 financial meltdown. The vote passed with support from all of Missouri’s Republicans in the House of Representatives.
- The Republican bill lifts rules on Wall Street “that were designed to head off economic meltdowns like the one that caused millions of Americans to lose their jobs and homes during the Great Recession.”
- The legislation also guts the Consumer Financial Protection Bureau, which, according to the Center for American Progress, has “returned nearly $12 billion to 29 million wronged consumers. For every dollar of its funding, it has returned approximately $5 to victims.”
Missouri Democratic Party Chair Stephen Webber stated:
“Missouri’s Republicans in Congress voting to eliminate the rules of the road for Wall Street isn’t all that surprising — they’ve consistently sided with their Wall Street donors over Main Street families. But that doesn’t take away from how disturbing it is to know that Missouri’s Republicans are putting older folks and working families right back in the same danger we faced before the 2008 financial meltdown.”