Tags: Garrett | spending | financial | crisis

GOP Rep. Garrett: Quit Rewarding Incompetent Agencies With More Money

By Dan Weil   |  

New Jersey Republican Rep. Scott Garrett is upset that financial regulatory agencies want to receive more funds and staff after failing to prevent the worst financial crisis since the Great Depression. Such requests are a D.C. phenomenon, says Garrett, chairman of the House Financial Services subcommittee on Capital Markets and Government Sponsored Enterprises.

Garrett, New Jersey, Republican, agencies
Rep. Scott Garrett, R-N.J.
“It’s only in government, especially in Washington, where you have agencies that failed in their core assignments in the past, and yet they are rewarded with more authority and bigger budgets,” Garrett tells The Hill.

“In the private sector, if you had a unit of a company that failed, normally what happens is that unit . . . doesn’t exist anymore and you make changes,” Garrett says. “It seems to be the practice of government that there seems to be some sort of reward.”

© 2015 Newsmax. All rights reserved.

1Like our page
2Share
US
New Jersey Republican Rep. Scott Garrett is upset thatfinancial regulatory agencies want to receive more funds and staff after failing to prevent the worst financial crisis since the Great Depression. Such requests are a D.C. phenomenon, says Garrett, chairman of the House...
Garrett,spending,financial,crisis
142
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved