“The actions of a few on Wall Street and at Freddie and Fannie have imperiled our entire Financial Market both at home and internationally.  Ignoring fundamental accounting principles, sound  risk-management practices, and responsible moral leadership, these individuals have brought our nation to the brink of financial disaster. 

 “Congress’ attempt today to ‘right these wrongs’ with an unprecedented $700 billion bailout neither properly punished the wrongdoers nor adequately protected the innocent taxpayers, investors, and retirees.

  “Rather, this failed bailout effort was nothing more than a blank check with no real safeguard for taxpayers, investors and retirees, and I fear it would have had the unintended consequence of rewarding the criminal and morally reprehensible behavior that created this disaster with little or no guarantee for millions of Americans that have already suffered from their irresponsibility.” 

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