LETTER TO THE EDITOR: A response to Rep. McClintock
It is refreshing to see that Congressman McClintock actually does something for the six-figure salary he collects, he reads the Tahoe Tribune.
As far as his comments about my letter to the editor about financial reform, he misses the point.
He would rather rant and rave about government’s role in the auto industry bailout, the wasted billions in the stimulus and how it took over the health care industry. In fact, the government could actually make money on the auto industry bailout (the jury is still out), the stimulus (endorsed by most conservative economists) appears to be actually working and the health care bill was not a government takeover but a huge gift to the private health insurance industry modeled after Republican Mitt Romney’s program in Massachusetts (almost universal coverage, but not the most cost effective approach).
My point about financial reform was to put in place common sense reforms, like not allowing the ratings agencies like Moody’s and others to be paid to rate the financial products from the very same financial institutions.
This is akin to the auto manufacturers paying Consumer Reports to rate their autos, a basic conflict of interest. The congressman obviously has not lost a major portion of his income or retirement due to the seedy practices of the financial industry. Financial reform will not kill this industry: it will give it more credibility and allow it to grow because the public will have more trust in it.
I will repeat what I said, it is far too easy to pontificate about big government and do nothing legislatively to protect your constituents.
Good smart legislation that serves and protects your constituents requires hard work and common sense pragmatic thinking, which apparently is something the congressman is unable or unwilling to do.
Ralph M. Sinibaldi
South Lake Tahoe
Support Local Journalism
Support Local Journalism
Readers around the Lake Tahoe Basin and beyond make the Tahoe Tribune's work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.
Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.
Your donation will help us continue to cover COVID-19 and our other vital local news.
Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.
User Legend: Moderator Trusted User