Rep. Scott Garrett (R-NJ), Chairman of the Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises, issued the following statement today to mark the four year anniversary of the Dodd-Frank Act:
"It's been four years since President Obama signed Dodd-Frank into law and our economy's anemic growth since that time is just one example of why it is ineffective. In addition to holding back the economy, Dodd-Frank also puts unsuspecting American taxpayers on the hook for endless Wall Street bailouts. The sad news is that the consequences of this heavy-handed law continue to creep into every U.S. industry. Now more than ever, we need solutions that address the real issues behind the 2008 financial collapse, protect taxpayers, and ensure that the U.S. continues to have the most robust capital markets in the world."