In recent Senate debate, Banking Committee Chairman Donald W. Riegle, D-Mich., blasted President Bush's recently proposed bill to relieve banks from burdensome regulations. Excerpts follow:

We are in the middle of the worst banking crisis since the Great Depression. But the President's latest response is to promote forbearance on failing institutions and elimination or weakening of safeguards against unsound or fraudulent activities - provisions he personally agreed to and signed into law just last December.

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