[Congressional Record (Bound Edition), Volume 156 (2010), Part 5] [House] [Page 6074] [From the U.S. Government Publishing Office, www.gpo.gov]IT IS TIME FOR COMMONSENSE REFORM FOR WALL STREET (Mr. MURPHY of New York asked and was given permission to address the House for 1 minute.) Mr. MURPHY of New York. Mr. Speaker, over the last 10 years, Washington failed to regulate our financial marketplaces, and some people on Wall Street took advantage of that to take ridiculous and dangerous risks with dollars that they couldn't back up. This must never be allowed to happen again. All across America, we know what happened. When Wall Street melted down, Main Street paid the price. It's time for us to put in place commonsense reforms to fix this system. I was proud to support the financial reform that we passed here in the House last fall, and I look forward to getting a final bill in front of us. We must make sure that taxpayers never again are responsible for bailing out failed financial institutions. We must also protect our consumers from some of the risky and predatory behavior we saw in the marketplace from unregulated organizations pushing mortgages that couldn't be afforded. And we've got to inject transparency and accountability into our financial system. The fresh light of day will disinfect so many of the ills in our financial system. This is about more than just reform. It's about strengthening the system and strengthening our economy and strengthening all of us in this country. ____________________