Fixing Financial Regulation

No More Bailouts

I will oppose further bailouts of banks, brokers and finance houses — public or private. I am opposed to the idea that any business is “too big to fail” — an idea that only guarantees failure in the long run. I will push for a full accounting of how TARP money was spent and how the Federal Reserve intervened in financial markets in our recent crisis. I will not allow the mistakes of the past to happen again.

Reverse Government Takeovers

I will push for the government to divest itself of the large chunks of private industry that it now owns — including major automakers, insurers, and banks. The government lacks the ability to run these industries efficiently, and taxpayer money should not be put at risk. I will also oppose further efforts by the White House to dictate terms to American industry — a power far outside the constitutional limits.

More Accountability, Not Bureaucracy

I will oppose the creation of additional regulatory agencies when cleaning up existing institutions, improving law enforcement, and enhancing accountability is more effective and efficient. We need smart regulation to protect consumers and ensure transparency in markets–not over-regulation that kills jobs and discourages new investment in our economy.