We need better regulators, not more regulators

In the past year, we have had overwhelming intervention by the federal government in our financial system. The American people are tired of Washington’s bailout obsession. It is time for the government to now move forward with a more aggressive exit strategy.

Unfortunately, President Obama’s promise of reform will only expand the government’s role and perpetuate the “too big to fail” and bailout mentality.

The American people deserve a better solution. Based on the principles of ending taxpayer bailouts, getting government out of picking winners and losers, and restoring market discipline, the Republican Regulatory Reform Plan calls for simplification for consumers, not duplication and creation of a new bureaucracy. Our plan says failing firms won’t be able to count on the taxpayers for a bailout.

We need to enact reform that will tighten up the regulatory structure and protect the taxpayer. Rather than more bailouts and more bureaucracy, we need more regulator accountability and more taxpayer protection.

NOTE: To view the Republican Regulatory Reform Plan click here.