Financial Reform — Right Around the Corner
A group of policy experts gathered outside the Bangor offices of Senator Snowe and Senator Collins today to thank them for supporting financial reform.Congress will soon be voting on a bill that would institute major financial reform. Experts say it’s the most drastic piece of financial regulatory legislation since the great depression.They say it’s passage is necessary to ensure activities on wall street are better monitored to prevent another financial meltdown. “It would set up now protections for consumers and really help small businesses thrive again. It’s so important particularly for women, the people we represent, because women are 41% more likely to have received subprime loans, they were the big losers during the recession,” says Sarah Standiford, Executive Director of the Maine Women’s Lobby.Experts say many folks in Maine strongly support the reform.Over the past few days folks with the Maine People’s Alliance have delivered more than 300 petitions in favor of financial reformm, that’s on top of about 4,000 that were already collected.