NMX: Fossella: Romney Finds Free Market Solutions

Tuesday, 28 Aug 2012 05:30 PM

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The Republican presidential ticket of Mitt Romney and Paul Ryan will let the private sector go to work to revive the struggling economy, says former New York GOP Rep. Vito Fossella.

“They are a lot better than the current occupant of the White House,” he told John Bachman of Newsmax.TV in an exclusive interview at the Republican convention. “I think the temptation and the reactive response of the current administration is government is going to solve the problem.”

Watch the exclusive interview here.



Using the government as a sledgehammer works occasionally, Fossella said. But the real solution is free markets. “When you compare and contrast the current approach to the approach of Mitt Romney and Paul Ryan, you have folks who recognize the vitality and wonder in the private sector,” Fossella said.

“People who have actually run businesses, who created jobs, and Paul Ryan, with whom I served with for a number of years in Congress.” Ryan realizes the country’s best days are ahead of it, “but the government needs to address those realities now to give the next generations the same opportunity to prosper that we have all had,” Fossella said.

“I think that Romney-Ryan combination will be realistic but also understanding that the solution is going to be across the heartland of America, and not just in Washington, D.C. I hope that resonates to the American people in November.”

As for other Republican candidates around the country, those who succeed will be those who “can talk both passionately and with authenticity and with a plan,” Fossella said. “[It’s] those who underscore how American can become great again economically, how the middle class can truly have a piece of the American dream without unnecessary intervention from the federal government.”

Fossella, who served on the House Financial Services Committee, is disappointed with the Dodd-Frank bank reform law.

“That’s another sort of noble, well intentioned piece of legislation that’s become a monstrosity,” he said. “In addition to the hundreds and thousands of pages of the legislation itself will come the thousands of new rules and regulations, and I think some of them are just sort of misguided.”

The risk of bank acquisitions can’t be eliminated by the government, Fossella said. “But I do think you can maintain and sustain the integrity of the capital markets and enforce and provide for necessary and appropriate regulations without the monstrosity of Dodd-Frank. It’s not a question of more regulations, just better regulation and better legislation.”

Fossella has high regard for New Jersey GOP Gov. Chris Christie. “He arrived on the scene as someone who was basically ‘take no prisoners’ and ‘confront reality’ with New Jersey and its runaway spending,” Fossella said.

“The thing just seemed ungovernable, and unmanageable, and he said I’m not going to take that as an answer. He took everyone head-on, and he is respected up and down. People appreciate his candor, appreciate his willingness to be a leader.”




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