ALLARD COMMENTS ON BANKING COMMITTEE HEARING
U.S. Sen. Wayne Allard (R-Colo.), a member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, commented today regarding the hearing.
"Today, for the first time the American people were able to hear first hand from Secretary Paulson on the details of this enormous $700 billion dollar mortgage bailout plan," said Allard. "Some questions were answered, many remain unanswered. The testimony was very sobering and left no doubt that the long-term health of the American economy is dependent on Congress acting quickly but carefully to restore trust and confidence in the American economy which is currently shaken. We must make sure the U.S. protects the American taxpayer and assures the world market that the American financial system is safe and sound."