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Tuesday, September 30, 2008

Next Up, Harold Rogers.

Here is the press release:

WASHINGTON, DC.--U.S. Rep. Harold "Hal" Rogers (KY-05) released the following statement regarding the Emergency Economic Stabilization Act of 2008:

"Today, the citizens of Kentucky face an economic crisis. A crisis created by Wall Street fat cats, who were enriching themselves while the rest of us suffered. Their greed has put a lot of Kentuckians at risk.

"However, as mad as I am at how we got here, we are here, and the sad reality is our country lies at an economic precipice. Our banks face a serious credit crunch, limiting our people's ability to borrow money for everyday needs. Everything from buying groceries or supplies, to buying a car or home, from sending your kids to college, or saving up for your retirement -- all could be put in serious jeopardy.

"With this threat, it was either vote for a plan I didn't like, or do nothing. This is not a gamble I was willing to take. I feared that doing nothing could put this country into its deepest financial recession in a generation.

"The bill I voted for ensured that Wall Street would pay their fair share, protected taxpayers' investments, eliminated fat cat golden parachutes, and protected struggling homeowners from foreclosure.

"With this bill's failure, Congress now must go back to the drawing board to get a bill that can pass, and remain in session until a solution to preserve our economy is reached."

Editor's comment: A "thumbs down" is in order here.

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