We thank Senator Kaufman for his Leadership! – Ed.
In a March 26 speech, Sen. Kaufman takes on the critical issue of banks that are “too big to fail” and whether it is adequately addressed in the Senate’s current financial reform legislation. His conclusion: Congress must erect statutory walls between commercial and investment banks or the nation will remain at risk of another taxpayer bail-out.
Mr. President, I have spoken twice on the floor in the past few weeks on the problem of ?too big to fail. This is the critical issue in any financial reform legislation. Each Senator must ask whether this issue is effectively addressed in the landmark legislation that the Senate will soon consider. I will limit my remarks today to this central aspect of the challenge we face. Read more (PDF)…