CONTACT: Andrew Souvall 

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PALLONE STATEMENT ON FINANCIAL RESCUE PACKAGE

Washington, D.C. --- U.S. Rep. Frank Pallone, Jr. (D-NJ) issued the following statement today after supporting the financial rescue package.   

"Today, the House acted in strong bipartisan fashion to help rescue an economy that has been spiraling downward for some time.  Without decisive action, we were warned that credit markets would freeze up, preventing families from getting car and home loans, students from qualifying for college loans and small businesses from being able to pay their employees. 

"This was a risk I simply could not take.  Today, I voted to protect middle-class families from the economic mistakes of Wall Street and the Bush administration.  This was not a perfect package, but I am hopeful that it will bring stability to a very troubled economy."