Dismantling Dodd-Frank

I have not yet fully analyzed the candidates or their positions in the US House of Representatives race for Congressional District 6. However, I received this well-reasoned email from John Williamson this morning, and wanted to share with you to help in your appraisal of the candidates.

WILLIAMSON FOR U.S. CONGRESS
DEMOCRAT
CONGRESSIONAL DISTRICT 6
“The future can be ours.”
480-607-9726

 Dear Friend,

Last time, I spoke—hopefully not too self-righteously—about how the future can be ours for health care. I said that Rep. Schweikert’s opposition to Medicaid Expansion in our state is an unsatisfactory way to go about helping many people in CD6.

Another area where Rep. Schweikert has come up short is his attempt to dismantle The Dodd-Frank Act which seeks to responsibly regulate business practices. The financial crisis of 2008 was brought about, for one thing, because some banks were involved in reckless investment practices. They were using customer money that should not have been placed at risk to invest in such things as mortgage-backed derivatives. The Dodd-Frank Act is designed to bring such irresponsible financial behavior under control.

On Rep. Schweikert’s Congressional website, dated 7/25/12, is this headline: “Rep. Schweikert  Introduces Amendment to Dismantle Dodd-Frank.”

In the news release is this quote: “‘The Schweikert Amendment is key to dismantling these suffocating, nonsensical regulations. I hope all of my colleagues realize this and support it,’ said Rep. Schweikert.”

In a blog on Feb. 17, 2013, Rep. Schweikert stated: “Every single day, 11,629 Americans are added to the food stamp program bringing the current total of Americans on this welfare program to 47 million.”

Yes, Rep. Schweikert, that may be true; but the main reason for that is because of the poverty these people were plunged into because of the Recession caused by the irresponsible business practices of the banks that the Dodd-Frank Act was made into law to prevent. By not supporting the Dodd-Frank Act, Rep. Schweikert is hypocritically contributing to the very causes for why people need the food stamp program which he condemns.

Rep. David Schweikert does not act in the best fiscal interests of the people in CD 6 because he wants to dismantle the Dodd-Frank Act, which is designed to ensure the integrity of banking and other financial services transactions. This hurts us all, whether we have high-income, middle-income, or low-income.

If you wish to contribute to my campaign, please visit my website at

www.williamsonforuscongress.com;

then click on the donations page. If you wish to volunteer, please send me an e-mail to let me know.

I support the Dodd-Frank Act and the responsible regulation of business, so that the future can be ours economically.

Thank you for your time.

Sincerely,

John

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