Congressman Paul Kanjorski (D–Pa11) defended at a June 17 conference committee hearing the pending massive regulation of American financial institutions by saying it will help people suffering from the “longevity of this recession” and “they’re not minorities and they’re not defective and they’re not all the things you’d like to insinuate that these programs [are] about, these are average, good American people.”
Being reconciled are similar thousand-plus page bills passed by the House on Dec. 11 and the Senate on May 20. The regulation would not touched the government-sponsored enterprises Freddie Mac and Fannie Mae, to which our economic turmoil can be traced, and will likely open the door to rampant crony capitalism.
Kanjorski is in a tight race with Hazleton mayor Lou Barletta.