From House Republican Chairman Mike Pence (IN):
“I’d like to thank the senior Republican on the Financial Services Committee, Spencer Bachus, for his tireless efforts on behalf of our free market system.
“And the other Republican Members on the Financial Services Committee for their hard work in putting this common sense proposal together and for their continued defense of the American taxpayer.
“The American people are fed up with the endless bailouts of Washington and they want it to stop. They recognize that bailing out failing businesses really means: Washington is burying generations under a mountain range of debt and destroying the very foundation of free market capitalism that has allowed this nation to prosper for generations.
“Congress cannot continue to ask hard-working families, who have played by the rules, lived within their means, and paid their bills, to bail out the irresponsible decisions of others or the failed policies of Washington.
Enough is enough.
“Today, House Republicans are standing with the American people who have said loud and clear: no more bailouts.
“The package of regulatory reforms that House Republicans are introducing today are built on three basic principles: it is time to end the mania of bailouts that has consumed Washington, it is time to end the government’s ability to pick winners and losers, and it is time to restore some level of responsibility to our markets.
“It is time to put freedom back into our free markets. The proposal being offered today by House Republicans will help do just that.”