Maureen Reed for Congress

Bachmann Votes against Wall Street Reform and Protecting Consumers While taking over $400,000 from the Financial Industry

Over the weekend, the House passed the Wall Street Reform and Consumer Protection Act of 2009. This legislation aims to significantly reform the financial industry including: creating an independent agency solely devoted to protecting consumers from abusive financial products, giving shareholders a say on executive pay and golden parachutes, and begins to establish a process for failing financial institutions that would end bailouts, protect taxpayers, and prevent the financial failure of one institution from spreading throughout the rest of industry. Bachmann voted against the legislation.