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Corporate and Financial Institution Compensation Fairness Act of 2009

Floor Speech

Date: July 31, 2009
Location: Washington, DC
Issues: Finance and Banking


CORPORATE AND FINANCIAL INSTITUTION COMPENSATION FAIRNESS ACT OF 2009 -- (House of Representatives - July 31, 2009)

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Mr. CARSON of Indiana. Mr. Speaker, today I've heard a number of interesting accusations about what this legislation would do if passed. I have heard that the government will sit in board rooms and set caps on pay. But of course my constituents are accustomed to hearing these kinds of false arguments from those who wish to maintain the status quo.

My constituents sent me to Congress to move beyond the status quo of a broken financial regulatory structure. They sent me to enact commonsense reforms like those included in the legislation we're discussing today, Mr. Speaker. They know that average families have cut back, work longer hours, and have saved their money during this crisis. Meanwhile, Wall Street execs have acted irresponsibly and enjoy the lavish compensation packages that have allowed their companies to fail.

So I am proud to be an original cosponsor of this bill that will bring about a new era of responsibility on Wall Street. I encourage my colleagues to do the same.

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