For Immediate Release

Organization Profile: 
Contact: 

Sam Quigley, sam@patrioticmillionaires.org, 202-446-0489

"Congress and the Trump Administration Are Setting Us Up for Another Crash"

"It is simply absurd that as banks are raking in record profits, our government is most concerned with helping them make even more money."

WASHINGTON - This afternoon, as the country approaches the ten year anniversary of the collapse of Lehman Brothers this Saturday, an event that triggered the worst financial crisis in modern American history, Morris Pearl, Chair of the Patriotic Millionaires and former managing director at BlackRock, Inc., the world's largest asset management firm, released the following statement:

"Ten years after the worst financial crisis in living memory, Congress and the Trump administration are setting us up for another crash. This year alone they've already passed legislation rolling back regulations meant to prevent another crash, and they're now trying to loosen rules even more for large banks and financial institutions. It is simply absurd that as banks are raking in record profits, our government is most concerned with helping them make even more money.

Take it from someone with a long career on Wall Street, we need those rules and regulations to reign in Wall Street's worst excesses. Without them, banks are going to keep playing roulette with the American economy on the line."

 

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