Given the severity of the recent financial collapse in the housing industry and now the commercial banking industry, some sanity is returning to our philosophy about regulating industry. Gary Peters has the experience and leadership to address these problems in Congress. Joe Knollenberg has been a leading advocate of the hands off approach to regulation. I hope with Gary Peters in Congress we can address these serious financial failures.
Friday, September 19, 2008
Peters Addresses Financial Crisis
Given the severity of the recent financial collapse in the housing industry and now the commercial banking industry, some sanity is returning to our philosophy about regulating industry. Gary Peters has the experience and leadership to address these problems in Congress. Joe Knollenberg has been a leading advocate of the hands off approach to regulation. I hope with Gary Peters in Congress we can address these serious financial failures.
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Trickle down economics was a false idea with Reagan, and our crisis at Wall Street just proves it. An unregulated economy is an accident wating to happen - and it happened. Knollenberg voted to deregulate the finance market - he shares the blame for this crisis. Greed is a Republican mantra - wake up people.
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