Economic Crisis Marks Final Verdict on Deregulation Policies Championed by John Gard

Struggling Wisconsin Families Can’t Afford More of
the Same Reckless Policies from John Gard

MADISON – The unprecedented economic crisis America faces today is the final verdict on the culture of deregulation and pandering to corporate interests that John Gard has consistently supported during his decades in the Legislature and as a candidate for Congress.

“John Gard has been part of the culture of deregulation and corporate pandering that created this crisis,” said Joe Wineke, Chair of the Democratic Party of Wisconsin. “It was the reckless policies championed by John Gard, his role model George Bush, and their fellow Republicans that led to the meltdown on Wall Street and pain on

Main Street

.”

After decades of supporting deregulation in the Legislature and nearly eight years of cheerleading the deregulation policies of George Bush, John Gard has proven that he’s just offering more of the same reckless policies that Americans can’t afford.

JOHN GARD: AGAINST CORPORATE REGULATION

Voted to Loosen Regulations on Banking, Took Cash From Banking Interests

• In 1993, John Gard voted to allow banks and credit card companies to charge higher fees. The bill increased the cap on credit card late fees from $2 to $10, increased the cap on cash advances from $2 to $5-per-advance, allowed lenders to charge up to $15-per-billing cycle for exceeding credit limits and increased the cap on fees for overdrawn checks from $10- to $15-per-check. (Sources: Bill Text, SB 316, May 25, 1993; Milwaukee Journal Sentinel, 10.10.93; Wisconsin State Journal, 6.15.93)  

• John Gard has taken $66,250 from commercial banking interests since running for Congress. (Source: Center for Responsive Politics, accessed 9.23,08)