Rep. Tom McClintock, R-Calif., told a town hall meeting in California that white collar crime on Wall Street is a myth.
A constituent in El Dorado Hills asked McClintock Tuesday about his “stance on Wall Street criminal practices.
“Well first of all, for a criminal practice there has to be a gun. It’s pretty simple,” McClintock responded.
His constituent asked him about reinstating Glass-Steagall, a Depression-era law that put tough stipulations on the relationships between commercial banks and securities firms.
McClintock explained that individuals must be responsible for their own decisions.
“Instead of applying additional government forced process … let’s stop bailing out people’s bad decisisons,” he said.
He called it “the price we pay for the freedom to make all of the good decisions in our lives.”
What McClintock fails to mention is that the financial crisis was tied to white collar crime, including fake signatures and lying about loan terms, ThinkProgress reported. Furthermore, financial executives used short term compensation incentives that allowed them to manipulate the price of stocks.
His unwillingness to take a hard line with the financial industry is mirrored by his feelings on NSA whistleblower and fugitive Edward Snowden.
He told KCR-TV that Snowden should be given amnesty so that he can return to the United States and answer questions about leaking national security information.
McClintock said Snowden broke laws surrounding confidentiality and national security, but “he broke them for a very good reason because those laws were being used in direct contravention of our Fourth Amendment rights as Americans."
On Tuesday, he told another town hall meeting that the government should be shutdown if Obamacare is not defunded. The federal government’s authorization to spend money ends on Sept. 30. Unless Congress comes to a resolution, it will be shutdown.
“But I am not going to vote for any more continuing resolutions that simply kick that can down the road,” McClintock said. “Now, I’ll make one exception to that, and that is if we can get a provision in the continuing resolution that defunds Obamacare this year.”