U.S. Senator George LeMieux (R-FL) today called the final financial regulatory reform package another "missed opportunity' to implement a targeted solution to address the problems that caused the financial market meltdown.
Senator LeMieux said:
"This bill will create a huge, new governmental bureaucracy. There are hundreds of new regulations contained in this bill, but they don't address the core issues that caused the financial crisis. If the regulations don't go after the problem that caused the debacle, what do the regulations do? Business is frozen in this country. Washington is doing so much to our economy, big and small business alike, don't have the confidence to hire new workers. This creates an environment that is stifling innovation and driving business out of our country."