Letter: In backing banker bills, Leach takes wrong road - Quad-Cities Online: Editorials

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Letter: In backing banker bills, Leach takes wrong road

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Posted: Wednesday, October 7, 1998 1:00 am

I think that our ``mild-mannered moderate'' Congressman Jim Leach as chairman of the House Banking Committee has taken the wrong road to economic security for the general public.

His actions in supporting measures that give greater wealth to the bankers and wealthy are to be deplored. A couple of examples: (1) reducing the capital gains tax; and (2) calling for restrictions on credit unions.

The theory that capital gains will be benevolently used to benefit the people has been disproven. There are oodles of examples of how they were used to increase the profits instead.

The restrictions on credit unions to limit their growth ran into a snag when the big ones, John Deere and Rock Island Arsenal, objected.

I suggest that those of you living in Iowa's first district contact Bob Rush, the Democratic candidate opposing Leach, and get his alternative program. The address is Bob Rush, PO Box 5875, Cedar Rapids, Iowa, 52406.

Ray Teeple, Davenport

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