Stand Up for Taxpayers
Congresswoman Marilyn Musgrave released the following statement today regarding her decision to vote no on the latest version of the Wall Street bailout plan:
"For the past three days I have worked with colleagues on both sides of the aisle to try and find a solution to the trouble facing Wall Street. I wanted legislation that enacted real reform to Fannie and Freddie, brought accounting rules up to date and required Wall Street to purchase insurance on Mortgage Backed Securities to stabilize the market. Unfortunately, leadership on both sides of the aisle has chosen the quickest plan instead of the best plan. This legislation doesn't contain the necessary safeguards to ensure we will not face this situation again.
Above all, my vote is based on the fact that there has been no change made to the way this bailout is funded - with the tax dollars of working families who played no part in the greed and avarice displayed by these Wall Street executives.
Those who don't learn from their mistakes are doomed to repeat them. In this case, the only lesson that we've taught Wall Street is that the American taxpayer will be there to bail them out. We shouldn't reward bad behavior."