Blaine Luetkemeyer: “I have some grave, grave concerns with regards to the usefulness of the committee to begin with. As a former bank…”

“I have some grave, grave concerns with regards to the usefulness of the committee to begin with. As a former bank regulator in one of my previous careers, it's kind of astounding to me that, with all of the laws that are in place, we had all the problems that we did. We don't need more laws; we need to enforce the ones that are in place. And so what we're doing is trying to continue to over-regulate and again put in place another entity to confound and to promote some more regulation, exactly what we don't need in the private marketplace. But again, why are we having another committee to do more regulation when we could have the existing people do the job the right way? It's kind of like, to me, having a police department that doesn't do its job, and instead of firing everybody at the police department and starting over and finding some good folks who could do the job, you create another police department, so now we have two police departments to fund. And I think that's what's going on here.”