LETTER: Luetkemeyer right to vote against bad consumer protection bill

Monday, March 1, 2010 | 3:29 p.m. CST; updated 3:21 p.m. CST, Tuesday, March 2, 2010

The recent letter to the editor by Jane Whitesides (Feb. 27) attacking Rep. Blaine Luetkemeyer, R-Mo., a former bank regulator, for his vote on the Wall Street Reform and Consumer Protection Act conveniently left out some pertinent facts. Among other things, this awful bill: makes permanent the taxpayer-funded bailout policies used to prop up the likes of AIG, Fannie Mae and Freddie Mac; allows bureaucrats to determine types and terms of credit products offered to consumers, making it harder to get loans; and empowers federal regulators to impose wage controls on private sector employees.

It’s also interesting that Ms. Whitesides singled out Republicans even though there was some Democratic opposition to it, including Missouri Democratic Rep. Ike Skelton, D-Mo. In addition, she conveniently leaves out the fact that a bipartisan group of legislators including Congressman Luetkemeyer voted for an alternative proposal that would protect consumers and ensure the safety and soundness of financial institutions. As for her false claims regarding the quality of job that Congressman Luetkemeyer is doing for his constituents, perhaps Ms. Whitesides — an employee of the left-wing group, Missouri Progressive Vote Coalition, that counts the discredited ACORN as a member of its board of directors — should live in the 9th District before making such claims.

Paul Sloca is the communications director for Rep. Blaine Luetkemeyer.

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jane whitesides March 5, 2010 | 5:38 p.m.

Mr. Sloca might want to reread my letter before he continues to comment. If any other Missouri Congressperson had been a top recipient of donations from commercial banks, I most definitely would have included them in my remarks. Only Mr. Luetkemeyer (numer 3) and Mr. Blunt (number 1)were in the top 25.

I agree that H.R. 4173 is not a perfect bill. My point was that these representatives offer no alternative. One positive part of the bill is the provision of a Consumer Protection Agency. It's not just predatory practices in the financial arena that threaten consumers. As an investor, I have no ability to judge if a company's prospectus or annual report is truthful. It's just a roll of the dice before you write the check.And, yes, I do expect Missouri's Representatives to look out for all Missourians.

Congressman Blaine Luetkemeyer was a guest on the Gary Nolan show (93.9 the eagle) October 21, 2009. When asked if he thought 72 hours was enough time to "read the bill" (in reference to the proposed Read The Bills Act), he replied that he wasn't sure that was enough time for associations and lobbyists to analyze the information and mobilize their members.

He was asked later to clarify his position as to whether he thought 72 hours was enough time, and he answered that he didn't think that business and industry would have enough time to be clear on the implications of complicated bills.

Blaine Luetkemeyer wants to be sure that trade associations, lobbyists, businesses, and industries get clear information about proposed legislation. At no time did he mention his constituents in the Ninth District, Missouri citizens, or voters. Is it clear that he is doing a quality job for Missourians?

And for the record, ACORN does not exist in Missouri, and is not a member of the ProVote board. You might also note that the organization has been cleared of wrong doing.

(Report Comment)
Allan Sharrock March 5, 2010 | 8:15 p.m.

Cleared of wrong doing? Just because the prosecutors didn't press any changes doesn't mean they are not a corrupt group. The fact that you would stick up for them says a lot about your character. Do you think Charley Rangel should keep his seat?

(Report Comment)

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