Comments on Secretary Paulson’s Proposals
As a member of the House Financial Services Committee, I believe it’s imperative that the United States Congress closely examine the recent plan presented by Secretary Paulson. Increased federal regulations are not the answer to our nation’s current economic concerns. Like most Americans, I want market discipline—but the Congress cannot create that by needlessly empowering the Fed. Despite the new ideas offered by the Department of Treasury I believe it’s critical that Congress focus first on the Fed’s recent actions to involve themselves in the Bear Stearns bailout. Without a thorough review of these measures, we will not be able to adequately review the Treasury plan. I want to be assured that the Fed’s action will not leave our nation’s hardworking taxpayers on the hook. I look forward to the opportunity to question Secretary Paulson and Chairman Bernanke about the actions leading up to Federal Reserve’s decision to intervene.
| Posted by Congressman Scott Garrett (NJ - 05) (03-31-2008, 11:55 AM) filed under HRPC Member |
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