ISSA CONTINUES TO OPPOSE ‘COMPROMISE’ BAILOUT PROPOSAL
September 28, 2008
Washington, DC – Rep. Darrell Issa today took to the House floor and said of the announced compromise bailout proposal, "It does not do what the American people are asking to do, and that is protect their tax dollars." Rep. Issa, who has offered an alternative plan that uses private investments to fund a secured loan for struggling firms with failing mortgage assets, said that even after changes by Congressional negotiators, the Paulson plan is still deeply flawed at its core. “There’s been a lot of lip stick added, but this bailout is still a pig,” added Issa.
“I have spoken with numerous experts, including some who I know from my career in the private sector,” said Issa. “The process in crafting this legislation has been deeply flawed and Congress needs to seek expertise beyond just the current leadership in the Department of the Treasury and the Federal Reserve. I’m not opposing this because I believe Congress should do nothing, but because I believe it needs to take time and get it right. Our economy faces serious challenges and buying Wall Street’s biggest mistakes won’t solve our problems, it will just get rid of our money."
whatever...
This story is obviously not ‘breaking news.’
The auto bailout is more important.