Congresswoman Lois Frankel (FL-22) today voted against a spending bill that allows the return of risky financial activity that led to the country's recent economic recession.

“This spending bill puts hard working taxpayers on the hook for Wall Street’s riskiest behavior,” said Congresswoman Frankel. “Big bank gambling caused Americans to lose their homes, their jobs, and retirement funds."

The $1.01 trillion omnibus spending bill repeals a critical provision of the Dodd–Frank Wall Street Reform and Consumer Protection Act that prohibited financial institutions from engaging in derivatives trading that allowed banks to push out risky trades to institutions not covered by insurance. That practice was a precursor to the collapse of the housing market, crushing Florida's homeowners and economy.

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