The House passed a sweeping bill last week to regulate the financial industry by a 237-192 vote. U.S. Rep. Gerry Connolly, D-Va., was one of the “aye” votes.
“By passing this legislation, we are helping to ensure that our financial system can never again take actions that caused the type of damage it did to our nation’s economy in 2008,” Connolly said.
The bill passed largely along party lines, with 19 Democrats, including Virginia Reps. Rick Boucher and Tom Perriello, voting against it. Three Republicans — Joseph Cao, R-La., Michael Castle, R-Del., and Walter Jones, R-N.C. — broke ranks and voted for the bill.
But Keith Fimian, Connolly’s opponent this fall, wouldn’t have been one of them.
Indeed, Fimian, the GOP’s nominee in Virginia’s 11th Congressional District race, would have voted “no,” according to campaign manager Tim Edson.
“The bill does NOTHING to tackle Fannie Mae and Freddie Mac, two firms at the heart of the housing meltdown,” Edson wrote. “This bill is another slapdash disaster driven by politics and lobbyists that won’t help get our economy moving or help Northern Virginia families.”
The Senate delayed its vote on the bill and reconvenes July 12.