John Lerew CMC '81 Mention on Politckerco

John Lerew, for those of you who don't know, is running for Congress. He's a CMC graduate (class of 81) and is trying to unseat Ed Perlmutter. Here's the link for the whole story.

Lerew: Bailout deal just political cover for Congress

By Jeremy Pelzer

Category: HouseTags: John Lerew, Ed Perlmutter, Ben Bernanke, Henry Paulson

Seventh Congressional District Republican nominee John Lerew, a financial planner from Aurora, thinks Congress' motivation to quickly bail out ailing financial markets is to reassure voters with investments before quarterly statements are sent out next week.

Slumping stock values seen on voters' 401K and investment plans when 3rd quarter statements are released Sept. 30 would be "a rude awakening that (members of Congress) are artificially trying to prevent," Lerew said.

"All they're trying to do is buy time," he said.

White House and congressional leaders announced a tentative $700 billion bailout deal on Sunday, according to the Wall Street Journal. However, both parties expect a close vote on the deal in Congress, the Denver Post reported.

Lerew opposes the $700 billion bailout, saying he'd prefer to "let the system run its course a little bit more.

"This is a totally different situation than the Depression Era," Lerew said. "You have interstate banking, you have bankruptcy laws that are set up to protect these corporations so that a normal market procedure can be held to liquidate their holding."

If Congress was going to spend $700 billion, he asked, "why not do it towards infrastructure?"

"Build roads, bridges -- put people to work," he said.