WASHINGTON, DC—Congressman Jim Himes released the following statement regarding the fifth anniversary of the American financial collapse:
“Five years ago this week, we watched as a troubling recession gave way to a full-blown economic crisis. While we have not fully recovered all the lost jobs, pensions, homes, and livelihoods, we have enacted protections to help ensure we never face such devastation ever again. It is now time for those laws to become regulation and for us to move forward with the next step--reforming our nation's housing finance system."
Himes played a leading role in crafting the Wall Street Reform & Consumer Protection Act of 2010. The law brought the previously unregulated derivatives market into the light of day, created a consumer-focused watchdog, and ended taxpayer-funded bailouts to banks. Himes is eager to move forward to reform the nation's housing finance system in a way that ensures qualified Americans have access to the American dream of homeownership.