Regarding Tuesday’s “Q&A with John Koster and Suzan DelBene”: It’s stunning and illogical that Ms. DelBene sees even more regulatory quicksand, creation of even greater uncertainty, as the one bill she would submit for signature. According to SEC Commissioner Casey on Jan. 23, 2011, “In terms of its breadth and scope, Dodd-Frank [financial reform] is arguably the most significant financial legislation in modern history. The legislation ushers in a breathtaking amount of changes that will result in a tectonic shift in the legal, regulatory and policy landscape affecting our markets and our economy in a relatively short period of time.”
As for Glass-Steagall, even President Clinton has argued that permitting securities affiliation helped during the financial crisis by allowing troubled securities firms to be transferred or acquired. Finally, where in Ms DelBene’s one submission is resolution for the true economy “crasher,” the core cause of the financial meltdown, the GSEs Frannie and Freddie? Caretaker/defender of which is the same Barney Frank who led the ushering in of the “breathtaking” new quagmire of financial regulations Ms. DelBene would shockingly expand. John Koster very clearly has the financial sanity of our nation in mind, and can best protect the interests of the people of Washington state.