Letter: Reassessing Himes after 'swap' bill
Published 10:14 am, Friday, June 22, 2012
I have long been a supporter and admirer of Jim Himes. He seemed to me to be a sensible, conscientious, honest and thoughtful politician.
But recently he gave me reason to re-think that assessment when he introduced H.R. 3283 -- euphemistically titled the "Swap Jurisdiction Certainty Act" -- which would exempt from Dodd-Frank regulation certain swaps, including derivative trades, by foreign "persons." As we all know, corporations are now "people."
This is precisely the kind of unregulated activity in which AIG and others engaged, contributing to the meltdown of our financial system. I am dismayed that my Congressman would sponsor such apparently ill-considered and counter-productive legislation.
I have written to Mr. Himes asking for an explanation, but have yet to receive an answer.