Wednesday
Apr212010
Senate Republicans Must Oppose Financial Reform Bill, Says House GOP’er
Wednesday, April 21, 2010 at 1:04PM
In an interview with Talk Radio News Service on Wednesday, Rep. Steve Scalise (R-La.) said voting for a financial regulatory reform bill making its way through the Senate this week is akin to voting for a continuous bailout for big banks on Wall Street.
“The bills by Barney Frank (D-Mass.) and Chris Dodd (D-Conn.) create a permanent bailout fund for banks, and [are] paid for by taxing a lot of the financial firms who didn’t have anything to do with creating the mess on Wall Street,” Scalise said.
Scalise, who voted against a similar bill written by Frank that was passed by the House last year, said Republicans should stand in firm opposition to the Senate bill because of its failure to target the U.S. Securities and Exchange Commission (SEC), as well as housing lenders Fannie Mae and Freddie Mac.
“The SEC did not do their job in preventing this first financial collapse. They allowed these companies to get too big to fail,” Scalise said. “There’s no reform in this bill for Fannie and Freddie...their friends, like Barney Frank, are protecting them.”
Click here to listen to audio excerpts from Rep. Scalise’s interview with Talk Radio News Service.
“The bills by Barney Frank (D-Mass.) and Chris Dodd (D-Conn.) create a permanent bailout fund for banks, and [are] paid for by taxing a lot of the financial firms who didn’t have anything to do with creating the mess on Wall Street,” Scalise said.
Scalise, who voted against a similar bill written by Frank that was passed by the House last year, said Republicans should stand in firm opposition to the Senate bill because of its failure to target the U.S. Securities and Exchange Commission (SEC), as well as housing lenders Fannie Mae and Freddie Mac.
“The SEC did not do their job in preventing this first financial collapse. They allowed these companies to get too big to fail,” Scalise said. “There’s no reform in this bill for Fannie and Freddie...their friends, like Barney Frank, are protecting them.”
Click here to listen to audio excerpts from Rep. Scalise’s interview with Talk Radio News Service.
Despite Effects Of Spill, Deceased Workers' Wives Say Keep Drilling
Natalie Roshto and Courtney Kemp, wives of workers killed in the Deepwater Horizon oil rig explosion on April 20th, told a Congressional panel Monday that the U.S. should continue to allow off-shore drilling, despite the impact of the massive oil spill in the Gulf Coast.
"While we realize we are suffering from economic impacts resulting from the leaking oil, it would be even more devastating if you allow drilling in the Gulf to cease," Kemp of Jonesville, Louisiana said. "The trickle-down effect would be devastating not only to the coastal states, but eventually the entire country."
"Many men depend on offshore drilling. That is our way of life," added Roshto of Liberty, Mississippi.
The widows' remarks came during a field hearing of a House Energy and Commerce Subcommittee in Chalmette, Louisiana.
The opinions of both were echoed by Rep. Steve Scalise (R-La.), who sits on the subcommittee.
"The ban on drilling threatens to pose an economic disaster on [Louisiana]," said Scalise. "You don't hold an entire industry accountable for the failures of one [company]."