Oct 16 2009

Sen. Richard Shelby taking the right course

Birmingham Business Journal

Sen. Richard Shelby deserves praise for his willingness to put smart policy above politics when it comes to reform of federal financial regulation.

Washington is abuzz this week with talk that the Alabama senator – the top-ranking Republican on the Senate Banking Committee – is willing to compromise with Democrats on financial reform. This is key, because the GOP leadership has resisted almost all Democrat-led pushes for reform.

As the Web site Politico pointed out this week, Shelby’s support for reform “is the best hope for passing the biggest overhaul of the nation’s financial laws since the Great Depression.”

Everyone who reads this page knows we strongly support free markets and as little government intrusion as possible. But, in our opinion, only the hyper-partisan could say that no reform is needed in our banking and finance statutes.