Florida Dems Backing Obama Wall Street Reform Package

With President Barack Obama signing Wall Street reform legislation on Wednesday, Florida Democratic Party Chairwoman Karen Thurman said Florida would greatly benefit from the new reforms.

"Wall Street reform is a victory for every Floridian who has ever puzzled over the fine print on a mortgage or credit card offer and every American whose retirement savings were impacted by the financial crisis, said Thurman. It is a victory for every taxpayer and every honest business. Wall Street reform will end abusive lending practices, bring Wall Street's financial dealings into the light and under regulation, guarantee that American taxpayers are never again left holding the bag for risky trades, and secure the foundation for stable economic growth. These are critical, common-sense reforms, but nonetheless the vast majority of Republicans in Congress voted against them. Now, Republicans are calling for the repeal of this vital legislation.

"Republicans have made it clear -- they're going to stand up for Wall Street lobbyists and other powerful special interests no matter the cost to middle-class Americans, added Thurman. If they have the opportunity, they'll repeal all the progress enacted by President Obama and return to the failed policies of the Bush era -- the same policies that led to the financial crisis in the first place. That's why, this year, it is so important that people here in Florida and all across America support strong Democratic leaders who will stand with the president to overcome Republican obstructionism and continue to move America forward."