Larsen Stands with Families and Small Businesses in Northwest Washington; Koster Stands with Big Banks on Wall Street

Everett, WA - U.S. Representative Rick Larsen released the following statement in response to opponent announcing his opposition to the Wall Street Reform bill. Larsen strongly supported legislation to permanently end the era of Too Big To Fail and create common sense regulations for Wall Street. Nearly 100,000 people in Northwest Washington lost their homes or retirement savings because big banks on Wall Street played with their futures by selling risky financial products.

“I supported Wall Street Reform so taxpayers will no longer be on the hook for the irresponsible actions of a few. Wall Street firms will now be held accountable for their actions so we can restore financial security for hardworking folks across Washington.

“I am standing up for seniors who rely on their retirement accounts, for parents saving for their child’s education and for people looking to buy their first home.

“My opponent had a choice to stand with families and small businesses in the Second District but chose instead to side with the special interests.

“I fought for Wall Street Reform so that if a Wall Street firm, a hedge fund manager, or a Too Big To Fail institution wants to drive off of a cliff…let ‘em. But no longer will taxpayers be trapped in the passenger seat as an innocent bystander.

“My opponent wants to keep you in the passenger seat and take away your airbag.

“I am thrilled that we are cracking down on the big banks and financial institutions whose greed led us into a financial crisis. We now have tougher regulations to control the size and scope of banks so that bailouts are never needed again. And we put a stop to executive bonuses at any firm that received bailout funds until the American people are paid back in full.

“My opponent is not thrilled that we are putting an end to big bonuses and the irresponsible decisions of the banks, hedge fund manager and Wall Street firms that got us into this mess.

“I have spent hours walking the Main Streets of our communities talking to small businesses and families in cities like Arlington, Marysville, Bellingham and LaConner. I have heard over and over again that Main Street needs help, but if we do not act to hold Wall Street accountable then we will have taken only the necessary actions, NOT sufficient ones.

“I chose to help the hardworking families and small businesses on Main Street by reining in Wall Street.

“Today, my opponent chose to side with the banks, CEOs and special interests on Wall Street who drove our economy off the cliff.

“Voters have a clear choice: Rick Larsen who stands with the public interest or John Koster who stands with the special interests.”