My 2008 opponent, Rep. Ginny Brown-Waite - an individual essentially devoid of character - offering no rationale for her opposition to "The Bailout," voted against the legislation.
My position appears below. What follows my press release of 28 September 2008 are some points made recently by Berkeley Professor of Economics Robert Reich for comparison.
For Immediate Release For Immediate Release 28 September 2008
Contact Person: Chyrisse Tabone-Russell, Communications Director
John Russell for Congress Campaign
Tel: 352-567-1618Wall Street Bailout Must Be Subject to Conditions
Fundamentally in consideration of any bailout, America must protect the financial integrity of taxpayers while also ensuring that appropriate and routine credit access and availability at reasonable price points is re-established.
America must not rush into any agreement without first validating the nature of the evolving constrictions on credit availability. We are not even absolutely certain this bailout is necessary, or will even be effective in fulfilling its loosely stated goals. More detailed information must be made available to not only the congress but the general public as well.
a former financial advisor (MBA, Series 7 and 63 license), and after having
spoken with several financial experts, listened to numerous economic
pundits both on television and radio, considered the comments by
leaders on both sides of the aisle, and having read the analysis of the
current situation by several leading economists, I have arrived at some
important conclusions that should define the guiding principles of any bailout measure agreed to by the Congress and approved by the President.
Therefore, the principles listed below I believe provide a more comprehensive basis for securing our economy, not only in the current crisis, but going forward as well.
In addition, the American people must learn conclusively just how we arrived at this point in order that we never visit this place again. Consequently, it is imperative that prompt investigation be part of any arrangement with decisive prosecution and punitive actions taken in order to deter future illegal behavior and ensure that the wrong-doers do not profit from their criminal actions.
Below are my recommended principles that should be part of any bailout.