samjohnson.house.gov

Johnson
Contact: McCall Avery 202-225-4201


Sam Johnson rails against latest Wall Street rescue

Washington, Sep 22 -

Today U.S. Congressman Sam Johnson (3rd Dist.-Texas) released the following statement on a suggested $700 billion Wall Street rescue. 

“Taxpayers want, need and deserve answers and accountability.  So far, I’m seeing neither when it comes to the latest proposed Wall Street bailout. I understand it’s a moving target and nothing is final but what I am hearing gives me great cause for concern.

“Believe it or not, I agree with some of the Democrats on a few things.  For starters, people on Wall Street have no business receiving enormous severance packages, tremendous bonuses, and gigantic compensation deals paid for by the U.S. taxpayer.  I also don’t think that the Secretary of the Treasury should have the authority to spend $700 billion with zero oversight.   We don’t even know who will be the Treasury Secretary come next January.  

“I don’t know what the best answer will be.  I am not an economist.  But I am getting sick and tired of bailout after bailout.  The taxpayers deserve better.  The latest and greatest bailout demands deliberation and thoughtfulness, not speed and silence.”



For information regarding the alternative I support, please the the attached document.



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