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Schiff Says Occupy Wall Street Protesters 'Raise Legitimate Concerns'

Montrose and La Crescenta congressional representative issued a statement Wednesday calling for more regulation of America's financial sector.

As Occupy Wall Street protests continue in New York and smaller offshoot protests break out elsewhere (including, oddly enough, ) Altadena's congressional representative has released a statement backing the sentiments expressed by protesters.

Rep. Adam Schiff, D-Burbank, whose district includes La Crescenta west of Pennsylvania Avenue and mainly south of Montrose Avenue - east of Rep. David Dreier, R-San Dimas whose 26th District includes parts of La Crescenta, Montrose) had the following to say on the subject:

The Occupy Wall Street movement, which began last month with a small number of protesters at a park in New York City, has quickly spread across the nation. The movement puts a human face on the shared frustration Americans across the nation have over these persistently challenging economic times, marked by a struggling middle class, increased poverty, rampant home foreclosures, rising student loan debt, and big banks that have become outsized and out of touch.

In order for us to continue to grow economically, we have to have a strong, effective and efficiently regulated financial sector that works for both Wall Street and Main Street.

The protests raise legitimate concerns, and policymakers need to respond by continuing to focus on ways to foster an economy that offers stability and economic security for the middle class, and the opportunity for all to succeed.

I share America’s frustration with those folks who engaged in reckless decision-making and irresponsible behavior, and that are now trying to roll back Congress’ efforts to prevent the abusive practices that led us into this mess.

And I will continue to fight for meaningful reforms that bring manufacturing back to America, invest in the vital infrastructure of America’s future, and bring good paying jobs to our people.

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