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Cole Opposes Flawed Financial Legislation

June 30, 2010
Press Release

WASHINGTON, D.C. – Rep. Tom Cole (OK-04) today issued the following statement after voting against H.R. 4173, "Restoring American Financial Stability Act of 2010":

"Americans are no safer from another economic collapse today than we were yesterday. This bill institutionalizes 'too big to fail' and does nothing to address the rampantly irresponsible lending practices at Fannie Mae and Freddie Mac that played a leading role in causing the financial crisis. Creating new government bureaucracy and jeopardizing more taxpayer dollars is not reform."