WASHINGTON —U.S. Senator Debbie Stabenow (D-MI) today made the following statement regarding the current financial crisis.

“After eight years of deregulation and lack of accountability, this Administration has created the worst financial crisis since the Great Depression. A crisis that will hurt hardworking American families across the country because credit markets are drying up and pension assets are at risk.

“I am currently reviewing various proposals to address this emergency and will work with my colleagues to act quickly. I believe any proposal must put American families first by ensuring the American taxpayer is protected, strengthening oversight and accountability, limiting executive compensation, and most importantly, helping families stay in their homes.

“As Michigan faces an unemployment rate of 8.9 percent, record foreclosures and skyrocketing household costs, we must also work together to ensure that we are providing relief to struggling families. I urge President Bush to support our efforts to extend unemployment insurance benefits to help hardworking families during these difficult times.

“Now is the time to come together and do what is right for the American people.”
– U.S. Senator Debbie Stabenow