Banks and businesses need the freedom to generate growth and jobs – but not to bend the rules in order to profit at the expense of consumers or the health of our nation’s economy. Drawing on my experience in the financial sector, I will fight for smart regulatory policies that restrain financial industry recklessness, and insist that the goals of Wall Street are aligned with the goals of all New Yorkers.

When it comes to regulating Wall Street, we need to do more than just respond to cycles of boom and bust. We must fundamentally reform our regulatory structure to fuel prudent, sustainable, and diversified growth – and to protect our economy and consumers from another destructive recession.

To promote smart growth, we need to incentivize sustainable, long-term investment in New York City, and promote patient capital that encourages Wall Street to invest in clean-tech, high-tech, and biotech. To prevent a future economic collapse, we need to increase transparency on Wall Street so there are fair rules and a level playing field, and reform the capital requirements of financial institutions to prevent dangerously loose credit during booms and restrictive tight credit during busts. Finally, representatives with real-world experience can help Congress enact the sensible regulatory policies we need in the financial services industry.

The financial sector and the capital markets are central to our economy, and it is essential for New York City to maintain its position as the largest global financial capital. With the right regulatory structure, Wall Street will be a productive force for economic recovery and growth. While important steps have been made recently, I do not believe that the financial regulation and reform bill recently signed into law by President Obama goes far enough. There are still key issues on Wall Street that need to be addressed in Washington, such as credit rating agency reform and the influence of special interests. Special interests almost derailed this bill, and we need to continue the fight against them. That’s why I have vowed—and continue to promise—not to take any money from corporate PAC’s.

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