"In his State of the State message, Governor Paterson called on his federal partners to ‘quickly reform our system of financial regulation.’ As Chair of the House Financial Services Subcommittee on Financial Institutions and Consumer Credit and Vice Chair of the House-Senate Joint Economic Committee in the 110th Congress, the Governor will have my strong support in enacting reforms to stabilize our financial markets and restore the confidence of the American people."

“The financial services industry is New York State’s second-largest employer next to the health care industry.  The restoration of effective financial regulation is critical to the recovery of our state.

“We in Congress know that New York and indeed all 50 states are reeling in the current fiscal crisis.  In the coming days, Congress will be working to pass a new stimulus bill that will invest in the states and their infrastructures, and help ease the pain New York is experiencing.”