2010 N.C. Senate Debates: on Government Reform

Richard Burr: Government should regulate. with no bigger role

Marshall pointed to stronger regulation, saying the mentality on Capitol Hill has been that Wall Street will heal itself and that market forces will take care of things. She said that regulators need more funding. "We've seen what happens when capitalism takes over," said Marshall.

Burr said government shouldn't be playing a bigger role with a stronger hand but should focus on regulating the products that were overlooked--such as the complex derivatives blamed in the nation's economic collapse--and to make sure the existing regulators are doing their jobs. "I fear that we're headed down a path that will be too overburdensome, too duplicative, it will raise the cost of credit, will choke the credit for small business and for individual loans," Burr said.