WASHINGTON, D.C. – Congresswoman Nancy Boyda (Kansas Second District) issued the following statement on the plan to bailout Wall Street:

“I have spoken to so many economists in this past week, four of them personally. And every time I ask the question, 'Do you think this will work?’ They look away. They actually break eye contact with you and come back and say they’re not sure. I’m not asking for a guarantee, only 'Do you think it will work?’ And not one will say they even think that this will work. What every economist agrees on is there are several other options that have a higher probability of success, at less risk to the taxpayer.

“The only problem is that if we spent $700 billion on this option and it doesn’t work, then we don’t have that money to spend on doing what really needs to be done to strengthen our economy for the short and the long term.

“As for executive compensation, quite honestly all we got was window dressing. There is no real reform to curb the excesses of Wall Street that got us to this point. I just couldn’t, in good faith, put $700 billion of our tax dollars at risk and see so little return for it.

“Congress must continue to work toward a solution that contains strong oversight and protects the American taxpayer.”