In a press release dated yesterday, Rep. Perlmutter’s office issued his statement “on President Obama’s Regulatory Reform Plan”:
“President Obama’s regulatory reform plan is a step in the right direction. I have long called for regulatory reform to rein in Wall Street while easing the burden on Main Street. We need sound oversight of our financial institutions to strengthen our economy and prevent another economic meltdown. New financial regulatory reform is one piece of the puzzle in addition to a balanced energy policy and an improved healthcare system which will help put our economy back together.
“I will continue to push for appropriate standards, such as my proposal that addresses Mark-to-Market and implements a framework that has the flexibility to consider different types of assets and different types of market conditions. I look forward to working with my colleagues on the Financial Services Committee and the Obama Administration to find common-sense regulatory solutions to our economic crisis.”
It is government “oversight” (i.e., interference) that caused our current economic woes. We need less regulation of the free market–not more.
Rep. Perlmutter is right when he says that we need “an improved healthcare system,” but the only improvement the federal government could make in health care is to get out of it.