On President Obama's Comprehensive Plan For Financial Regulatory Reform

Statement

On President Obama's Comprehensive Plan For Financial Regulatory Reform

Congressman Charlie Wilson (OH-6) released the following statement today:

"I am pleased with the President's announcement today on his plan to remodel financial regulation.

The failure of our current financial regulatory structure played a major role in the current financial crisis our country faces - the worst financial crisis since the Great Depression.

I've often said it's hard to play a good, fair game without a referee on the field. The President's announcement today helps put the appropriate referee in place. It's a big step toward more oversight, transparency and consumer protection. I am also pleased to see that President Obama is focusing tighter regulations on the "super banks" but that he does not seem to be targeting small and mid-sized banks which are often unfairly lumped in with their bigger counterparts.

I look forward to working in the Financial Services Committee to further these goals. I will do my part and work to make sure that common sense is brought to regulation across the financial services industry.

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