The Financial Crisis

Rep. Thaddeus McCotter's picture
Submitted by Rep. Thaddeus M...
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We are working in a crisis atmosphere of historic proportions.  We must stay objective and analytical to accomplish what's in the best interest of the American people; and we must stay focused, because this crisis compels a tight legislative deadline.

 

Amidst the acceleration of globalization, free market transactions have TRANSCENDED existing government regulation – i.e., entrepreneurs have moved faster than regulators. 

 

Therefore, to prevent a necessarily swift response from having an unimaginably disastrous result, it is imperative for members of Congress to: publicly, transparently, and co-operatively express their constituents’ economic concerns; and promptly and responsibly enact legislation creating a pro-active, 21st Century regulatory system that brings present stability to our free markets; and that ensures future certainty, accountability, opportunity and prosperity for our free people.

 

Comments

    Spot-on...

    I only hope every member of Congress will be equally as calm and careful. The last thing we need is another instance of bank failure like the Sen. Schumer-induced panic that caused IndyMac to fail.