6:15 PM Mon, Sep 29, 2008 | Permalink
Joe Arnold
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Rogers Statement on Economic Stabilization Package
WASHINGTON, DC.--U.S. Rep. Harold "Hal" Rogers (KY-05) released the following statement regarding the Emergency Economic Stabilization Act of 2008:
"Today, the citizens of Kentucky face an economic crisis. A crisis created by Wall Street fat cats, who were enriching themselves while the rest of us suffered. Their greed has put a lot of Kentuckians at risk.
"However, as mad as I am at how we got here, we are here, and the sad reality is our country lies at an economic precipice. Our banks face a serious credit crunch, limiting our people's ability to borrow money for everyday needs. Everything from buying groceries or supplies, to buying a car or home, from sending your kids to college, or saving up for your retirement -- all could be put in serious jeopardy.
"With this threat, it was either vote for a plan I didn't like, or do nothing. This is not a gamble I was willing to take. I feared that doing nothing could put this country into its deepest financial recession in a generation.
"The bill I voted for ensured that Wall Street would pay their fair share, protected taxpayers' investments, eliminated fat cat golden parachutes, and protected struggling homeowners from foreclosure.
"With this bill's failure, Congress now must go back to the drawing board to get a bill that can pass, and remain in session until a solution to preserve our economy is reached."
Does anyone remember George Bush's brother causing
the savings and loans needing to be bailed out yrs ago. This looks a lot like that. Lets see, George is going out of office and this is his final act. How much money is George Bush making on this deal? We know how he made money with Halaburton on the Irag War. We do not need to bail these bad investments out. The market is already going back up. This country cannot afford to go bankrupt for $700 Billion for George.
Hal Rodgers couldn't see the forest for the trees and now he's left with egg on his face. As a Republican I must say it's a shame that he went along with this mess that Pelosi came up with when the two members from Kentucky in her caucus bailed on her. Hopefully the conservative constituents will send his hide back to the hills and in turn send Brandon Smith to congress!