Letter to the Editor: Johnson-Crapo bill needs to be approved
Mark Warner, first as governor and then as senator, has earned an enviable reputation as a leader who solves problems. His reputation has been enhanced during his service in Washington as one of the all too few members of Congress who works on a bipartisan basis. Here’s an example.
The Senate Banking Committee has recently approved the so-called Johnson-Crapo bill that looks to prevent taxpayers from taking the fall in the event of another fiscal crisis. The bill would protect taxpayers from the fallout and would rightfully hold the lenders who caused the disturbance responsible.
Who was originally behind this common sense legislation? Our own Sen. Mark Warner. Warner worked with Republican Sen. Bob Corker of Tennessee to reform the government-owned Fannie and Freddie corporations into a smaller federal housing lending agency.
In all of his years of public service, Warner has not lost sight of his priorities in office: taking care of his constituents. He saw the need to reform a current policy that could potentially hurt the average taxpayer if the housing bubble ever bursts again. So, for the past two years he’s been working with Republicans to ensure that real reforms are made so Virginians as well as other Americans are not left with the short end of the stick.
Now, let’s see this legislation pass the Senate and move toward becoming law. I’m glad to know that Warner was a part of the bipartisan effort to minimize risk and put our country’s housing industry on sounder footing.
Bob Lowerre, Woodstock