Statement from Maine Small Business Coalition spokesperson David White on the financial reform bill, which cleared a cloture vote in the U.S Senate just before noon today:

“Main Street won out over Wall Street today. By regulating derivatives and other risky investment schemes, the financial reform bill will encourage banks to get back to basics – giving loans to small businesses owners who need them.

The new laws also give small businesses and all consumers new protections against predatory lenders and new transparency in credit cards and mortgages.

Wall Street spent more than $1.4 million a day on lobbyists in an attempt to kill this legislation. It’s nice to see that the little guy can still win one once in a while.”

David White
Owner, MDI Imported Car Service
Office: (207) 288-1013

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Mike Tipping
Communications Coordinator
Maine People’s Alliance
(207) 797-0967