Roskam says details of bailout plan is still weeks away
by Josh Singer, Pioneer Press
U.S. Rep. Peter Roskam, R-6th, held a telephone press conference on Friday from Washington, D.C., during a break in discussions about how to rescue the economy with a $700 billion government bailout.
"There is an urgency," Roskam said. "The devil is still in the details."
Roskam is a member of the House Financial Services Committee.
The first-term legislator said he prefers that a bill be ready Monday by the time markets open, but said the government has "weeks" to finalize a plan.
"A whole host of economists have urged us to pause on this," he said.
Roskam said during a recent Pioneer Press editorial board interview that speculators should not be bailed out and described the district's residents as "very modest folks." He added that problems have arisen because of conflicting rules and lack of oversight in the financial industry.
"It's obviously a high-stakes game," Roskam said Friday.