News Releases

Murray Stands with Washington State Seniors, Small Business Owners to Applaud Passage of Wall Street Reform Bill

Jul 16 2010

Bill about to be signed into law ends taxpayer-funded bailouts, protects consumers, families, and small businesses

(Washington, D.C.) – Today, U.S. Senator Patty Murray (D-WA) stood with members of the local community at Ballard Senior Center in Seattle to discuss the Wall Street reform bill that passed yesterday that protects Washington state families, holds Wall Street accountable, and guarantees that Washington state taxpayers will never again be on the hook to bail out Wall Street. Senator Murray was joined by Joe Fugere, owner of Tutta Bella, a local small business; Gus Ramos, a local senior citizen who had to find new job after the financial collapse; and Rosa Beck, a local victim of a predatory lender who ended up losing her home.

“I am so proud to be able to stand here and say today that after months of hard work and debate—the era of taxpayer-funded Wall Street Bailouts is officially over,” Senator Murray said today. “I have been fighting hard for a Wall Street reform bill that protects our state’s families, holds Wall Street accountable, and includes a guarantee that American taxpayers will never again have to pay to bail out Wall Street or clean up after big banks’ messes….The bill we passed yesterday puts Main Street back in control. And it helps consumers, small businesses and families right here in Washington state—the kind of people I fight for every day as a United States Senator.”

“Banks told me they wouldn’t lend me money because I was in a risky line of business,” said Joe Fugere, owner of Tutta Bella. “I had a profitable business and always paid made my payments on time—but now I was being called risky by big banks. Wall Street reform will bring stability back to our economy and help small businesses like mine grow—and I appreciate Senator Murray’s leadership in this effort.”

 “All of these years I planned, scrimped, and saved for the future, and not only was I cheated out of my money, but I lost something greater—my grandchildren,” said  Gus Ramos, a local senior citizen who had to find new job after the financial collapse

“This devastated my whole family,” said Rosa Beck, local victim of a predatory lender who ended up losing her home. “The company told us this was just business.  How can they sleep at night?  We were homeless. I never believed people would do something like that.  I pray that no one has to go through this again.  It’s been two years since my youngest child has unpacked a box- for fear that we would have to move again.” 

Senator Murray spoke on the Senate floor on Wednesday urging her colleagues to support this bill and explaining how it helped families and small business owners in Washington state and across the country.

See a full summary of the Wall Street Reform legislation that passed the Senate yesterday