Monday, May 4, 2009

Power Breakfast puts CUs close to political action

WASHINGTON (5/04/09)—Once again, credit unions gained broad exposure before a vital audience in the nation's capital during a popular "Power Breakfast," organized by National Journal. The Credit Union National Association (CUNA) co-sponsors the series, and a couple hundred Capitol Hill staffers, lobbyists and reporters attended the event Friday featuring Senate Majority Leader Harry Reid of Nevada.

Reid, addressing financial services regulation in response to a question, said regulatory reform is certainly on the Senate agenda this year. He cautioned, however, that the U.S. Congress should not overact to current problems and "overdo" its response. A danger there, he said, is killing off innovations.

Reid's wide-ranging remarks addressed not only financial services regulations, but also health care reform, the budget, and Iraq, among other things.

The Senate leader also assessed other politicians. A former boxer, Reid said most politicians are either a "boxer" or a "slugger." A boxer is one who shows finesse and is cool in times of stress. A "slugger" takes a confrontations al approach.

When asked to assess President Barack Obama's style, Reid said the 44th president is "definitely a boxer."

courtesy of cuna.org

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