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Congressional Candidate Statement On The Financial Crisis Sept. 28, 2008

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As the Democratic Nominee for the U.S. House in Florida's 5th Congressional District in September 2008 I published my statement of solution aimed at fairly determining blame while simultaneously providing short and long term solutions to the fast evolving financial meltdown.

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.

Press Release

For Immediate Release For Immediate Release 28 September 2008

Contact Person: Chyrisse Tabone-Russell, Communications Director

John Russell for Congress Campaign

Tel: 352-567-1618

e-mail: campaign@johnrussellforcongress.com

Wall 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.

As 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.

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http://www.johnrussellforcongress.com

I am a Nationally Certified Acute Care Nurse Practitioner/ARNP with an MBA in Health Systems Management and a former financial advisor Series 7 and 63. I was the Democratic Nominee in both 2006 and 2008 for Florida's 5th District U.S House seat in (more...)
 

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