OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Providing for Consideration of Senate Amendments to H.R. 1424, Emergency Economic Stabilization Act of 2008

Date: Oct. 3, 2008
Location: Washington, DC
Issues: Finance and Banking


PROVIDING FOR CONSIDERATION OF SENATE AMENDMENTS TO H.R. 1424, EMERGENCY ECONOMIC STABILIZATION ACT OF 2008 -- (House of Representatives - October 03, 2008)

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Mr. DOGGETT. Listening carefully to neighbors concerned about their retirement, home, or small business, when some in Washington repeatedly hit the panic button, I recognize the need for a swift response.

But when asked for $700 billion in taxpayers' dollars, almost overnight, we have a duty to secure a responsible plan. What President Bush is demanding in response to this subprime lending debacle that we reward Wall Street with what is essentially the biggest subprime loan in American history. We cannot afford to give almost unlimited discretion to one man to determine what toxic securities to buy and at what price, and we should not bail out the entire world.

I will not be stampeded into voting ``yes'' when President Bush employs his standard my-bill-or-no-bill approach. Today, we must draw the line so that tomorrow other irresponsible actors will not be in line asking for a handout.

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