Thursday, May 7, 2009

Garrett Hearts Predatory Lenders?

Well, Representative Scott Garrett was one of 59 Representatives to vote against providing the resources to crack down on predatory lenders. Garrett's vote really, to me at least, makes no sense.

I can understand him standing with the hedge funds, he always has. I can understand him standing with the credit card companies that double bill, his opinion is that those taking cards have the responsibility to know they're getting ripped off.

But not prosecuting fraud?

What's the logic causing one to vote against providing the money to investigate and prosecute those predatory lenders who assisted in the financial markets melting? If there aren't prosecutions, does that validate his perception it's the borrowers fault? I realize Garrett usually doesn't want to blame lenders, but he has to recognize predatory lenders exist.

And the bill deals with sniffing out fraud with TARP funds. For a guy that spends a lot of time talking about waste fraud and abuse, I would have thought when the opportunity to throw those folks in jail came along he would have been on board. Not providing funding to crack down on TARP fraud?

If Garrett posts a statement regarding this vote, I'll put it up.

1 comment:

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