Photo credit: Lynn Gordon, Bayshore Tea Party
Highlands, NJ - Continuing to misunderstand and misdiagnose the causes of our economic downturn, Frank Pallone on May 17th issued a press release outlining his support of yet another level of useless and detrimental government bureaucracy to the already stifling regulatory system emanating from Washington. Considering how completely out of touch with Main Street Frank Pallone actually is this is not surprising.
Anna Little, small-town Mayor and 6th District Congressional candidate with a direct line to the people she will serve, spoke with the Two River Times and properly addressed the issue rather than demagoging the banks and financial institutions who are merely symptoms of a problem that begins and ends in Washington
Mayor Little said that "Government regulation is not the answer to the fraud and abuse of shareholders that occurs on Wall Street. Government regulation drives up the cost of business and thus costs for consumers, and interferes with free market competition. "
Responding to Pallone’s claims that D.C. has all the answers, regardless of the fact that they are in fact the career politicians who caused the meltdown in the first place, Mayor Little noted that "Business experts know their industry, and can expose fraud, and reckless behavior. The best redress is via the civil and criminal court systems."
Finally, Mayor Little points out that Washington and Frank Pallone have proven themselves wholly incompetent in directing the economy and that more such efforts will only lead to more cost, more loss and near permanent unemployment:
"If the Federal Reserve is an example of the competence of Government to regulate the financial market, my point is made clear. Government must get out of the way for business competition to restore ethics in the financial market and create jobs."
"The Wall Street Reform and Consumer Protection Act, HR 4173, is unconstitutional. The Commerce Clause of the United States Constitution, Article 1, Section 8, Clause 3, regulates commerce between the United States and foreign countries, between the United States or any state and the Indians, or commerce between two or more States. The Commerce Clause does not regulate business generally."
Frank Pallone has been meddling in and destroying our economy for over two decades. His liberal party-line voting record is evidence of his complete misunderstanding of how our economy actually works. Rather than getting to the root causes of the issue, career politicians like Frank Pallone, who have never held a real job in their lives, continue instead to stir passions and promote “solutions” that have been tried, tested and proven as failures.
It’s time the 6th District elected someone with the common sense and understanding necessary to reform Washington before destroying our economy with more useless, costly Wall Street reforms.