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Archive for Wednesday, May 19, 2010

Brownback criticized for misrepresenting advocate’s views

May 19, 2010

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— U.S. Sen. Sam Brownback, R-Kan., is being accused of misrepresenting to the Defense Department the comments of a consumer advocate to shore up Brownback’s argument against more regulation of auto loans.

Brownback, who is running for governor in Kansas, was criticized Tuesday by Democratic gubernatorial candidate Tom Holland, a state senator from Baldwin City.

“Sam Brownback is trying to trick people at the Defense Department by misusing quotes and twisting words. This is the type of Washington politics we can’t afford to have here in Kansas,” Holland said.

At the center of the dispute is the debate in Congress over financial regulatory reform.

The Defense Department, credit unions and numerous military organizations want auto dealers to come under the oversight of the proposed consumer financial protection agency. Military officials say a large number of soldiers become victim to unscrupulous auto lending and that detracts their focus from their work.

But Brownback has put together an amendment to exempt auto dealers that assist customers in financing from the proposed consumer protection agency.

Brownback has argued that auto dealers are already subject to current state and federal laws, and that adding more regulation will hamper lending and hurt consumers by increasing the costs of vehicles.

“Auto dealers are a part of Main Street, not Wall Street, and they are not responsible for the financial meltdown,” he said.

Last week, Brownback wrote a letter to Undersecretary of Defense Clifford Stanley. In that letter, Brownback referred to Raj Date, executive director of the Cambridge Winter Center for Financial Institutions Policy. “CNN Money on May 13 reported that ‘Raj Date ... agreed that the additional (Bureau of Consumer Financial Protection) regulation might cause some dealers to stop arranging loans,” Brownback said in the letter.

But Brownback’s letter did not include the rest of Date’s comment, which was this, “There will be some dealers who say, ‘If I have to play by an honest set [of] rules, then I can’t be in this business anymore.’ I’m not going to shed any tears for these dealers.”

Asked about the letter, Brownback’s office did not immediately return a request for comment.

Comments

BigAl 4 years, 9 months ago

Just wondering where Tom and Barry are? If Brownback were a democrat, they would be all over it.

RGK38 4 years, 9 months ago

Running for Gov??? What experience has he had running a large operation? He's always been JUST a social evangelical "wack job" po;itician. We can'r elect a guy who's only claim to fame is relegion in classroon, abortion. Surely ANYONE BUT BROWNBaCK!

situveux1 4 years, 9 months ago

Or you could just get a loan at a bank, or better yet, save and pay cash. I feel about as bad for these people as I do for those with loads of credit card debt. Don't get a credit card and you won't have that problem.

Richard Heckler 4 years, 9 months ago

"When it comes to addressing America’s energy needs and the health of our planet, it is imperative that we engage in constructive dialogue. I believe that we need to take responsible steps to decrease the amount of greenhouse gas that we emit into the atmosphere. However, I cannot ignore the fact that energy costs have increased and Americans are paying high prices for oil, natural gas and electricity.

 The Clean Air Act was first enacted in 1963 and established funding for the study and the cleanup of air pollution. It was expanded in 1970 and the Environmental Protection Agency was tasked with carrying out the reduction of air pollution. The law was again revised in 1990 to establish market-based trading mechanisms to reduce sulfur dioxide emissions, and authorized a program to control 189 toxic pollutants.

Recently, the EPA issued an “endangerment finding” declaring greenhouses gases to be “a threat to human health.” This finding would allow the EPA to regulate greenhouse gases under the Clean Air Act. I believe this is a bad decision, a misinterpretation of the Act’s intentions, and will lead to massive bureaucratic regulations threatening our nation’s businesses at a time when people are already suffering.

Further, I believe decisions that will have such vast consequences for the American people should be made by their elected representatives, not unelected bureaucrats. For these reasons, I am proud to be a co-sponsor of Senator Murkowski’s resolution to prevent the EPA from regulating greenhouse gases without approval from Congress.

 It is in everyone’s best interest to conserve and protect our precious natural resources at home and abroad. Issuing undue regulatory burdens will only stifle innovation, increase costs to consumers, and handicap American industry in the world market.

 Rest assured, I will take your thoughts into consideration on this matter and any legislation that may come before the Senate. "

Sincerely,

Sam Brownback United States Senator

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