WASHINGTON, March 2 -- Sen. John Kennedy issued the following press release:
Sen. John Kennedy (R-La.), a member of the Senate Banking Committee, introduced the Municipal Securities Rulemaking Board (MSRB) Reform Act, which would improve Board standards and put in place good-government reforms at one of the United States' most important securities regulators.
"The MSRB oversees a municipal securities market that is worth trillions of dollars in public projects. It's supposed to represent the consumer. Instead, it's an insider's club. It's more incestuous than King Tut's family. Public seats on the board shouldn't be filled by executives who just quit their Wall Street jobs. These reforms are long overdue," said Kennedy.
The MSRB regulat...