Huelskamp Agrees with President Obama: Reduce Influence of Wall Street Lobbyists

Statement

Kansas Congressman Tim Huelskamp issued the following statement after the President offered remarks in Osawatomie, Kansas this afternoon:

"For once I agree with the President: Wall Street executives who abuse power, privilege, and the purses of their investors should be punished to the fullest extent of the law. In light of the recent revelations about MF Global and the President's stated break with Wall Street, I call on the President to distance himself from lawbreakers at that firm and donate to charity the half a million dollars that Former Governor and Democrat Senator Jon Corzine (D-NJ) bundled for the President's campaign."

"Like the President said, 'inequality also distorts our democracy' and 'gives an outsized voice to the few who can afford high-priced lobbyists and unlimited campaign contributions.' Jon Corzine apparently had so much power and influence in Washington that even while on Wall Street he was able to carve out a loophole for MF Global that kept his actions from the watchful eye of regulators in this Administration."

"Where I disagree with the President is in his call to heap additional rules and regulations on our economy. We have rules on the books; the problem is that they are not enforced for campaign contributors. Jon Corzine and MF Global apparently failed to keep customer funds separate as required by law, and as a result, now is missing upwards of $1.2 billion in client funds. We need to enforce the rules we have, not add to the list we fail to enforce on friends of the Administration."

Source