The Common Good

Rev. Wallis says financial bill gives stronger voice to Main Street

Source: Sojourners
Date: July 15, 2010

FOR IMMEDIATE RELEASE

Thursday, July 15, 2010

CONTACT: Sheldon Good at sgood@sojo.net / 202.745.4625 or

Burns Strider at bstrider@sojo.net / 202.215.2490

REV. WALLIS SAYS FINANCIAL BILL GIVES STRONGER VOICE TO MAIN STREET

WASHINGTON, DC - As the U.S. Senate passed the conference committee report on the financial regulatory reform bill today, Rev. Jim Wallis - an evangelical leader, author of Rediscovering Values, and president of Sojourners (the largest network of social justice Christians in the United States) - praised the new law, saying:

"Dodd-Frank incorporates principles of clarity, transparency, accountability, and protection for the common good against private greed, all of which give a stronger voice to Main Street in facing Wall Street. Because of the excesses that led to the current Great Recession, in which millions of Americans lost their homes and jobs, the pendulum has started to swing from an era of an 'anything goes' mentality to more careful public oversight and government regulation. The strongest part of this legislation is the establishment of the new Consumer Financial Protection Bureau. It will begin to restore safety and fairness to the marketplace by being a watchdog not just for banks but for all Americans who have been mistreated, cheated, and damaged by current banking practices. But, this legislation is not as strong as it needs to be. The big banks are still allowed too many opportunities to go to the casino with our money, and I hope Congress will continue to work hard to close those holes.”

In his most recent book Rediscovering Values: On Wall Street, Main Street and Your Street, Rev. Wallis lays out a set of principles that should guide our economy, public policy, and our personal lives. He has written extensively on moral values and business practices, and served as the Vice Chair of the 2010 World Economic Forum Global Agenda Council on Faith.

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Jim Wallis is the president and CEO of Sojourners, the largest network of progressive Christians in the United States focused on the biblical call to social justice. Wallis is also author of the New York Times bestsellers God's Politics: Why the Right Gets It Wrong and the Left Doesn't Get It and The Great Awakening: Seven Ways To Change The World, Reviving Faith & Politics. His latest book is Rediscovering Values: On Wall Street, Main Street, and Your Street.

Sojourners' mission is to articulate the biblical call to social justice, inspiring hope and building a movement to transform individuals, communities, the church, and the world. Visit www.sojo.net, and www.GodsPolitics.com.