According to the New York Times, it seems that many of the reasons that Congress hasn't passed a bill to put a stop to predatory lending can be traced to one Republican senator: Richard C. Shelby. Of course, he says that the fact that his legislation favors the banks who gave him a $5 million dollar loan is just him doing his duty and has nothing to do with his Congressional duties. He states that he just believes in the free market's, saying that it will work, "but not without some pain."
Funny how one man can affect the lives of so many people. Unfortuneately, the Democrats seem to need him to get things done. Senator Dodd stated, "'..Once he makes the deal, it happens.'"
This is a class blog for the students of POLSCI 426: Congressional Politics at the University of Wisconsin–Milwaukee.
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