Sunday, September 28, 2008

Hawpe: McConnell coddles Wall Street

David Hawpe's column in today's Courier-Journal makes some excellent points. Here's an excerpt:

Coddling Wall Street is nothing new for Mitch McConnell.

In 1999, McConnell and the rest of the Kentucky congressional delegation voted to deregulate Wall Street banking and investments. They -- and most of other members of Congress -- ignored the warnings that this hands-off approach could create financial institutions so big the federal government simply could not afford to let them fail.

Well, those warnings were well-founded. Wall Street is on its knees, and it's in everyone's interest for Big Government to drag the financial system back to its feet. But the question is, why a helping hand only for Wall Street? Why no help for ordinary people who find themselves in financial trouble and in danger of losing their homes?

You can read the entire column by clicking here.