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Didier, Akers also oppose financial bill

Post by Jordan Schrader / The News Tribune on July 14, 2010 at 5:23 pm with No Comments »
July 14, 2010 5:23 pm

Dino Rossi‘s Republican rival Clint Didier today echoed Rossi’s concerns that the Wall Street overhaul heralds future bailouts.

He said in a statement that the bill “just furthers the unholy alliance between Washington DC and Wall Street – and leaves consumers out in the cold and doesn’t begin to address the real causes of the problems.”

A third Republican in the race, Paul Akers, told me he supports tougher standards for banks to maintain more capital to back up their transactions, but the rest of the regulation micromanages the financial system, while failing to curb the lax lending standards that helped lead to the collapse.

“We have to go back to historical lending practices that are sustainable,” Akers said, “the same practices that I bought my home under when I bought my first house in the inner city of La Puente, (Calif.,) for $49,000 and had to put 10 percent down, and had to verify my income.”

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