Himes Says Shays Has Been Absent on Regulation
FOR IMMEDIATE RELEASE
Wednesday, October 08, 2008
Says incumbent failed to advocate for needed precautions
BRIDGEPORT, CT - Jim Himes, Democratic Candidate for Congress, criticized Chris Shays today for failing to advocate for needed economic regulations. Shays, who sits on the Financial Services committee, has a 42% attendance rate at the committee's hearings. Shays' absences included a key vote on reforming Fannie Mae and Freddie Mac, organizations that Shays now claims are responsible for the current crisis. The Himes campaign issued the following statement.
"Chris Shays still thinks the fundamentals of our economy are strong, but he admits that he didn't put critical regulation in place," said Himes. "You can't solve the problem if you don't understand the problem or what caused it. I'll bring a clear-eyed approach to regulation when I am in Congress."
"Chris Shays has been a truant on regulation," said Michael Sachse, spokesman for the Himes Campaign. "Chris Shays only made 42% of the Financial Services hearings, he missed a critical hearing on Fannie Mae and Freddie Mac, and he admitted that he didn't put needed regulations in place while deregulating our markets. Now Chris Shays is parroting Republican talking points by blaming two companies for a system-wide failure. Our families need solutions, not finger pointing."
Background:
- Chris Shays missed the vote for the Federal Housing Finance Reform Act of 2007, which created the FHFA and gave it general supervisory and regulatory authority over Fannie and Freddie.
LINK: http://www.govtrack.us/congress/vote.xpd?vote=h2007-396
