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September 22, 2008 at 22:09:25
Tom Udall Statement to Plan to Address Financial Crisis by Congressman Tom Udall (D-NM) (Posted by Stephen Fox) Page 1 of 1 page(s) |
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WASHINGTON – U.S. Representative Tom Udall, (D-NM) and candidate for US Senate, today released the following statement on the nation's economic crisis and proposed bailout: "The Bush Administration and its allies in Congress have allowed Wall Street to gamble with America's economy for far too long, and the results have been disastrous for Main Street. Now, as we work on a plan to avoid an even greater crisis, it is essential that the interests of Main Street come first. "The Administration's proposal, as it has been presented to Congress, needs significant changes. First, any plan that puts taxpayer money at risk must ensure that taxpayers get paid back before shareholders, bondholders or executives-so that corporate CEOs do not get a golden parachute while taxpayers are left to pay the bill. "Additionally, Congress should act further to keep Americans in their homes by addressing the crisis in the mortgage industry as well as the one in the financial sector. Any economic package that allows tens of thousands of Americans to lose their homes is simply inadequate. 
"Finally, there must be accountability. If we invest taxpayer dollars to protect our financial markets, we should make sure that money is spent effectively and efficiently, with proper oversight and accountability. No administration should be given unlimited authority over the spending of $700 billion or more of taxpayers' dollars. Any bailout plan needs to ensure that those managing the bailout are responsible to Congress and the American people."
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Banks Should Feel Our Pain
If the government must bail out these banks, it needs to be made clear to these banks that their recent behavior is unacceptable. by PrMaine (13 articles, 13 quicklinks, 3 diaries, 511 comments [22 recommended, 1 rejected]) on Tuesday, Sep 23, 2008 at 12:43:14 PM  (0+)
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Reply: reply to PRmaine
sensible comment; you should pass this on to Tom Udall via his Congressional Office; his chief of staff is Tom Nagle, so do that please...You might benefit from this other I posted at OEN today: Best article I have seen on the Bailout, as good as Obama's, at OpEdNews.com: What can Palin say to Afghan President Karzai? "Oh, don't sweat those 60 innocent Afghani kids killed 30 days ago, Hamzid: that's called "acceptable collateral damage!" And of course, Bono will walk away, realizing what a profound humanitarian she is, right? Do these Neocon Republicans think we Americans are that stupid and that maybe we were born yesterday? Stephen Fox, Contributing Editor, New Mexico Sun News by Stephen Fox (96 articles, 3 quicklinks, 11 diaries, 802 comments [33 recommended, 1 rejected]) on Tuesday, Sep 23, 2008 at 12:53:32 PM (0+)
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