By Opposing Reform, Rep. Lee Terry Has Yet Again Chosen Wall Street Over Main Street

Omaha, NE – At a press conference today, Tom White took Rep. Lee Terry to task for his record of putting Wall Street ahead of Main Street. After voting to bail out Wall Street, Terry has consistently voted to protect the Big Banks’ greed and recklessness, even voting against comprehensive Wall Street reform yesterday.

“With his vote yesterday, Congressman Terry yet again chose to side with Wall Street over Main Street,” Tom White said. “Since supporting the Wall Street bailout, Lee Terry has doubled down in his support for Wall Street’s irresponsible behavior by voting against TARP reform, against limiting tax-payer funded bonuses at bailed out banks, and against comprehensive financial reform.”

Rep. Terry’s vote against Wall Street reform came one day after Republican Leader John Boehner likened reform to “killing an ant with a nuclear weapon.” Ignoring the fact that Wall Street’s reckless behavior cost 8 million jobs and countless retirement accounts, Terry followed his party leaders and voted against reforms that put consumers first, hold big banks accountable, and end the era of taxpayer-funded bailouts and the idea that some financial institutions are “too big to fail.”

“It’s been almost two years since the collapse of the international economy – it’s frustrating that Congress has taken this long, and that Congressman Terry has obstructed even minimal reforms every step of the way,” said Tom White. “Congressman Terry has sided with special interests on Wall Street against families and small businesses on Nebraska Main Streets who worked hard and played by the rules, yet still saw their lifesavings and jobs endangered.

“By contrast, I’ll be the independent leader Nebraska needs in Congress, focused on ending bailouts forever and helping small businesses create jobs in Nebraska.”

FOR IMMEDIATE RELEASE
Thursday, July 1, 2010