Smith to Support Economic Rescue Plan

Statement

Smith to Support Economic Rescue Plan

On the verge of the Senate vote on the economic rescue plan, Senator Gordon Smith released the following statement:

"There can no longer be any doubt that our nation faces an economic crisis, a crisis that is already hurting Oregonians. I am reaching across the aisle once again to help rescue the main streets of Oregon from the greed of Wall Street, while also extending an economic lifeline to Oregon's rural communities.

My opponent, in opposing the rescue plan, has shamefully placed his partisan ambitions ahead of the retirement, financial and economic security of the people he seeks to serve and once again has demonstrated his willingness to leave Oregon's rural communities behind. That's not what Oregonians expect their Senator to do.

This plan isn't perfect, but it does five things important to every Oregonian. First, it will stabilize financial markets and financial institutions and ensure access to loans for businesses, families, farmers and students. Second, it extends hundreds of millions of dollars to Oregon's rural counties to fund schools, police, fire and other critical services over the next four years. Third, it holds Wall Street accountable for their mismanagement and ends golden parachutes for CEOs. Fourth, it protects taxpayers and homeowners by allowing them to ultimately profit from their investment and protects them from unfair foreclosure. And fifth, it will begin to restore consumer, homeowner and investor confidence in our economy."

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