What brought about the Great Recession was deregulation and the fact that the Republican-controlled House and Senate ultimately passed a law banning regulation of swap contracts. You will find our senator's name as one voting for that bill.
So now we have the Dodd-Frank Wall Street Reform Act requiring that swaps be traded on exchanges so that they can be regulated. Guess who doesn't want this regulation.
In an effort to get around this, U.S. banks are setting up affiliates overseas whose transactions they won't have to guarantee.
This is a subject that surely needs to be included in the coming senatorial debates, including the voting records and the actions that will be taken by both candidates. Our members of Congress are held accountable for their voting record.
By publishing these records in your paper you then allow each candidate to state their reason(s) for supporting this legislation.
This will give the voting public facts rather than the usual negative advertisements. Facts are stubborn things.
WILLIAM A. HOFFMAN
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