In the wake of the 2008 banking collapse, the Wall Street gamblers who’d crashed the global economy had the nerve to ask America’s working families to bail them out with billions of dollars – no strings attached – to compensate for their greed.
Peter wasn’t having it. He stood firm in his commitment to hold the shady banks and reckless traders accountable for the damage they’d caused worldwide. He rallied members of the House to reject the Bush administration’s plan, which offered what he called “camouflage parachutes” to the banking execs who’d driven the crash, and which offered no plan to recover our bailout funds.
After the failed deal, Peter took the lead in pushing for a new plan that would reduce the risks to taxpayers while helping financial institutions with bad mortgage assets. His efforts paid off, resulting in a better deal for Main Street.
Learn more in this report from NPR:
