San­ders State­ment on Con-job Bill

Stanstead Journal - - FROM PAGE ONE - Washington, DC

– Sen. Bernie San­ders (I-VT.) voted to­day against leg­is­la­tion to loosen reg­u­la­tions that pro­tect in­vestors. He is­sued the fol­low­ing state­ment af­ter the Se­nate voted 73-26 to pass the bill:

“The so-called ‘JOBS Act’ is an ex­tremely anti-con­sumer, anti-in­vestor, and anti-jobs bill. As cur­rently drafted, the bill is op­posed by the Se­cu­ri­ties and Ex­change Com­mis­sion chair­man (as well as past SEC chair­men ap­pointed by both po­lit­i­cal par­ties); AARP; the AFL-CIO; the Con­sumer Fed­er­a­tion of Amer­ica; Con­sumers Union; and the Coun­cil of In­sti­tu­tional In­vestors among many oth­ers. There is good rea­son for the op­po­si­tion.

“At best, this bill could make it eas­ier for con artists to de­fraud se­niors out of their en­tire life sav­ings by con­vinc­ing them to in­vest in worth­less com­pa­nies. At worst, this bill has the po­ten­tial to cre­ate the next En­ron or Arthur An­der­sen scan­dal or an even worse fi­nan­cial cri­sis.

“Have we learned noth­ing? Dereg­u­lat­ing Wall Street led to the worst fi­nan­cial cri­sis since the 1930s. Now the same peo­ple who caused this hor­ri­ble re­ces­sion are telling us that more Wall Street dereg­u­la­tion will cre­ate jobs. Give me a break. I strongly sup­port pro­vid­ing small busi­nesses with the tools they need to cre­ate jobs. Sadly, that’s not at all what this bill will do.”

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