Monday, July 28, 2014         

 Print   Email   Comment | View 0 Comments   Most Popular   Save   Post   Retweet

Split decision

Hirono says yes, Djou says no to bill to overhaul regulations

By Associated Press


U.S. Reps. Charles Djou and Mazie Hirono split their votes on a major financial reform bill that gained passage in the House yesterday.

The measure, which is more than 2,000 pages long, would rewrite the nation's regulatory books from Wall Street to Main Street.

Djou's vote marked his first on a nationally significant issue since the Republican won a May 22 special election to fill the seat formerly held by Democrat Neil Abercrombie. The House roll call was 237-192, with most Democrats supporting the bill and all but three Republicans opposing.

In a statement, Djou said the measure failed to address the financial meltdown's root causes, intrusively expands the reach of government and raises taxes on banks that will pass those costs on to consumers.

"Put simply, this bill does more yet accomplishes nothing -- it spends more, it taxes more and it sets the stage for more Wall Street bailouts," he said. He said he supported parts of the measure, such as provisions requiring more transparency in the credit ratings industry.

Democrats pounced on his vote.

"Djou's outrageous refusal to hold Big Banks accountable or put a stop to the era of taxpayer-funded bailouts is another reminder that Djou's agenda is to put Wall Street and Big Business before hardworking middle-class families," Ryan Rudominer, a spokesman with the Democratic Congressional Campaign Committee, said in a statement.

Djou faces a tough race in November against his likely Democratic foe, state Senate President Colleen Hanabusa, who said through a spokesman that she would have supported the bill.

Congresswoman Hirono praised the bill.

"This bill will put our citizens in much stronger positions when it comes to buying a home, using their credit cards and mapping out their long-term financial future," she said.

The Senate is not expected to vote on the bill for at least two weeks.

 Print   Email   Comment | View 0 Comments   Most Popular   Save   Post   Retweet

You must be subscribed to participate in discussions
By participating in online discussions you acknowledge that you have agreed to the TERMS OF SERVICE. An insightful discussion of ideas and viewpoints is encouraged, but comments must be civil and in good taste, with no personal attacks. Because only subscribers are allowed to comment, we have your personal information and are able to contact you. If your comments are inappropriate, you may receive a warning, and if you persist with such comments you may be banned from posting. To report comments that you believe do not follow our guidelines, email commentfeedback@staradvertiser.com.
Leave a comment

Please login to leave a comment.
Latest News/Updates
Political Radar
`My side’

Political Radar
‘He reminds me of me’

Bionic Reporter
Needing a new knee

Warrior Beat
Monday musings

Small Talk
Burning money

Political Radar
On policy

Warrior Beat
Apple fallout