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Conway campaign voices support for Financial Regulatory bill

Conway campaign voices support for Financial Regulatory bill

Jack Conway

by News release

WHAS11.com

Posted on July 22, 2010 at 6:58 AM

CONWAY STANDS UP FOR FINANCIAL REFORM WHICH WILL HELP KENTUCKY FAMILIES
RAND PAUL ONCE AGAIN SIDES WITH BIG BUSINESS,
TELLS KENTUCKIANS TO FEND FOR THEMSELVES


LOUISVILLE -Jack Conway, Kentucky's Democratic nominee for the U.S. Senate, spoke out on historic Wall Street reform legislation being signed into law today.

This latest financial reform measure, passed by the Senate last week, contains some useful tools in the fight to hold banks and financial firms to task, strengthen consumer protections, and help put an end to taxpayer-funded Wall Street bailouts.

There is a clear contrast between Jack Conway and Rand Paul on this issue. Conway supports key components of this legislation because they will result in common sense measures that will protect taxpayers and consumers against unfair financial practices. Paul is once again standing up for big business at the expense of Kentucky consumers and families by making his opposition to the legislation very clear.

"As Kentucky's Attorney General, I have fought continuously for consumers, taking on big Oil and Pharmaceutical companies to save taxpayers over $200 million during my time in office. As Kentucky's next Senator, I will continue my fight to hold Wall Street and Washington accountable," Conway said.

What is even worse than his opposition to the bill is that Paul is basing his policy on false information.

(Click here to see a fact check for the truth about Paul's allegations.)

Rand Paul's stance against the bill means that he would have voted against protecting our:


   - Homeowners, students, and families, who now have a watchdog Bureau of Consumer Financial Protection to crack down on the worst forms of abusive lending and make sure that everybody has the clear information they need to make sound financial decisions. 

- Farmers, who benefit from a more open and transparent derivatives marketplace to hedge against fuel and feed price hikes.

- Seniors, who are now protected by strengthened state programs that prosecute hucksters who defraud the elderly.

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