Arlington, WA. - July 22, 2010 - Rick Larsen recently voted for the Dodd-Frank Act, an over-reaching, big-government regulatory law that encroaches in every aspect of the financial sector and will likely open the door for permanent taxpayer-funded bailouts for Wall Street and limit consumer's access to credit.

John Koster commented, "Rick Larsen is at it again. The Dodd-Frank Act is a bill drafted by career politicians who have never created a job. This legislation will hurt hard-working Washington families and small businesses because it over-reaches and fails to adequately reform the main cause of the housing meltdown-Fannie Mae and Freddie Mac. Also, instead of addressing the problems of the big banks that Rick Larsen already bailed out, this bill makes all financial companies, even local regional banks who have responsible business practices, shoulder the costs of increased burdensome regulation."

Koster continued, "This bill is bad for our economy and does not help our hard-working families at all. It will hurt access to credit for our small businesses who want to expand and hire new people. It also increases the likelihood of future bailouts and it gives the same bureaucratic regulators that failed to oversee financial markets, and subsequently oversaw the consequential financial meltdown in 2008, unprecedented power."

Koster concluded, "Rick Larsen bailed out the big banks, increased our debt, ballooned the deficit, and has destroyed our economy. Throughout this recession, Rick Larsen has proved time and again that he is more interested in growing government than he is in growing jobs."

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