Response From Congressman David Scott

From DGJ……

 

Another wind bag.

Who is running against this fool?

The only one I have come across is a Dr. Honeycutt.

I forget her first name.

 

---

From: Congressman David Scott [mailto:imaga13@mail.house.gov]
Sent: Wednesday, April 28, 2010 5:20 PM
Subject: Response From Congressman David Scott

Dear Mr. Johnson:

 

Thank you for contacting me regarding regulatory reform. I appreciate you taking the time to share your views with me.   The opinions and concerns of my fellow Georgians are an essential component of my decision making process as a Member of Congress. 

 

I understand your views about regulatory reform. Throughout my years in public service I have continued to support initiatives that seek to ensure quality financial  programs and services for the constituents I serve.  Financial markets and the economy continue to be extremely turbulent and experts predict the downward turn will not end any time soon, or at least not until the end of this year.  Millions of Americans are struggling with unemployment, failing businesses, falling home prices and plummeting savings.  The Administration has had to take extraordinary steps to respond to the crisis, revive the economy and repair the financial system so that it will again begin lending anew to households and businesses.  With the unravelling of major financial institutions, it is clear our current regulatory structure is not able to prevent the excess and abuse that has existed for the past decade.

 

In the months ahead Congress will continue to work on legislation to rein in risky practices and build a new foundation for our financial sector.  The goals of the reform plan will be to promote a robust supervision and regulation of financial firms; establish comprehensive supervision of financial markets; protect consumers and investors from abuse; provide the government with the tools it needs to manage crises; and raise international regulatory standards and improve international cooperation.  The Federal Reserve will have a new centralized position over the economy and a new agency, the Consumer Financial Protection Agency, will be set up to protect consumers across the financial sector from unfair, deceptive and abusive practices.  In addition, the international reforms will serve to bolster our efforts at home, including strengthening the capital framework; improve oversight of global financial markets and enhance crisis management tools. 

 

I understand this is a considerable undertaking, and overhauling our financial regulatory structure will take time, as I will work to ensure we discuss and further debate these reform ideas so not to pass an overly broad bill with new loopholes where the potential for fraud and abuse is obvious. As a member of the House Financial Services Committee, I will continue to monitor actions taken on this issue.  Please be assured, will be sure to share your views with my colleagues as the House continues with its legislative agenda during the 111^th Congress. 

 

As I mentioned, your input is vitally important to me.  I hope you will continue to give me the benefit of your opinion in the future.  Please be assured, I will keep your views in mind as the full House considers various issues in the 111^th Congress.  Furthermore, I encourage you to visit my website at http://davidscott.house.gov where you can view the latest news and updates about pertinent issues and legislation important to you.  You may also sign up for my electronic newsletter and receive periodic updates on my activities as your representative in Washington. As always, my staff and I are here to serve you.  Please feel free to contact us if we ever can be of further assistance to you or to share your concerns. 

 

Sincerely,

David Scott

Member of Congress

 

Off with their heads….