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Thursday, February 6, 2014

Hensarling Delivers Volcker Hearing Opening Statement

Financial Services Committee Chairman Jeb Hensarling spoke about how the Volcker Rule will impact Main Street in his opening statement at the Volcker Rule hearing. “Like most of the other 400 rules in Dodd-Frank, the Volcker Rule is aimed at Wall Street, [but] hits Main Street,” Hensarling said.

“…not one [financial institutions ] failed because of proprietary trading. In fact, financial institutions that varied their revenue streams were better able to weather the storm, keep lending and support job growth.”

Hensarling noted that none of the agencies conducted a cost-benefit economic analysis on the effects of the Volcker Rule on the American taxpayer.

Read the statement.

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