July 15, 2010

Today, Nevada Senator Harry Reid led the Senate in passing legislation that holds big Wall Street banks accountable for the reckless behavior that cost Nevadans their jobs, their homes and their retirement savings.  In addition to curbing the most risky behavior on Wall Street, this bill protects consumers by preventing banks from becoming too big to fail and protecting taxpayers from having to bail them out.  Hailing its passage, Reid said, “When you go to any of the great casinos across Nevada and put your chips on the table, you’re gambling with your own money. You win, you win. And if you lose, you lose. But Wall Street rigged the game. They put our money on the table. When they won, they won big. The jackpots they took home were in the billions. But when they lost — and boy, did they lose big — they came crying to the taxpayers for help. We want to make sure this disaster never happens again. The solution has to start here."