Breaking News Bar
posted: 6/23/2012 4:40 AM

Foster wrong on Dodd-Frank bill

hello
Success - Article sent! close
 

In the June 19 edition of the Daily Herald, 11th Congressional District candidate Bill Foster pushes the Democratic Party message by suggesting that the Dodd-Frank bill is the cure-all for preventing future financial meltdowns like the one we experienced in 2008. As is typical of liberals, his theory is that any regulation is better than no regulation.

Mr. Foster's assertion that "The Dodd-Frank bill, had it been enforced in the last decade, would have prevented the financial crisis" illustrates his poor grasp of economics. As a small-business owner in the financial services industry, I can attest to the fact that much of Dodd-Frank is regulatory overkill that will hurt economic growth without providing the so-called financial safeguards that it promises. Instead, as Mitt Romney has espoused, we need smart regulations.

Order Reprint Print Article
 
Interested in reusing this article?
Custom reprints are a powerful and strategic way to share your article with customers, employees and prospects.
The YGS Group provides digital and printed reprint services for Daily Herald. Complete the form to the right and a reprint consultant will contact you to discuss how you can reuse this article.
Need more information about reprints? Visit our Reprints Section for more details.

Contact information ( * required )

Success - request sent close

The single most important step that Congress could take to prevent another financial meltdown is reinstating Glass-Steagall. Mr. Foster's failure to recognize this is evidence that he is ill-equipped to represent the people of the 11th Congressional District.

Stephen W. DeFilippis

Wayne

Share this page
Comments ()
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.
    help here