Tragically Flawed Reform
Statement
Issues: Economy and Fiscal
U.S. Congresswoman Ginny Brown-Waite (FL-05) released the following statement after voting against H.R. 4173; Wall Street Reform and Consumer Protection Act:
"There are so many good and sensible things in this legislation, but in Title II, plain as day, authority is granted to the President to direct the FDIC to borrow as much as $10 trillion or more from the Treasury to bail out banks.
"The only difference between the TARP bailout that I voted against and all of the future bailouts authorized in this bill; is that the President doesn't have to come to Congress to ask for the money.
"If I didn't support the first bailout, how can I possibly grant any administration perpetual authority to bail out as much and as often as it sees fit?"
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