FACT CHECK: Wall Street Reform Will Help Promote Job Creation
Wall Street Reform Update
FACT CHECK: Wall Street Reform Will Help Promote Job Creation
What Republicans are saying: Wall Street reform legislation is a job killer.
Who’s the latest to say it:
Rep. Pete Sessions (R-TX): “[I]t will continue to kill jobs.” [House Floor, 6/30/10]
Here’s the truth: A stable and growing economy creates jobs, and this legislation will help ensure that our financial system can never again cause the type of damage that it did to our economy in 2008. Republican defenders of risky business on Wall Street are ignoring that Wall Street’s irresponsibility led to the global recession – a recession that the Pew Research Center (http://www.washingtonpost.com/wp-dyn/co ... 22_pf.html) found has pushed more than half of America’s working adults into unemployment, pay cuts, reduced hours at work, or part-time jobs. Instituting strong consumer protections, improving market transparency, and rewarding responsible investing are some of the best ways to foster competitiveness, confidence in our financial sector, and robust growth in our economy, which will generate jobs, increased investment and entrepreneurship.
###