She says Wall Street needs oversight and reform – but the bill passed by the House and Senate does not deal with the causes of the meltdown.
Fiorina: “We haven’t reformed Fannie Mae and Freddie Mac. We haven’t understood why the 20-plus agencies responsible for overseeing Wall Street failed in their accountabilities. And we’ve now created another vast new bureaucracy that’s gonna cost a lot of money. Sorry, that’s a bad deal to me.”
Fiorina's opponent in the California Senate race, Democrat Barbara Boxer, voted for the legislation. In a statement from her Senate office, Boxer says the bill will “rein in casino-style gambling on Wall Street” and “create a new watchdog agency” to hold “financial firms responsible for their own costly mistakes.”
