Congressman Connie Mack (FL-14) issued the following statement today after Treasury Secretary Timothy Geithner revealed a plan to relieve banks of toxic assets.

Mack, who was the first Member of Congress to call for Secretary Geithner to step down last week, said:

“While it’s encouraging that the Administration is trying to convince private investment funds to bid on troubled bank assets, Secretary Geithner’s plan is very troublesome because it still puts a huge amount of taxpayer money at risk.

“Once again, Secretary Geithner and the Administration are resorting to a plan that increases the size and scope of government, spends hundreds of billions of dollars, and puts American taxpayers’ money at significant risk. This is not what the American people want or deserve.

“The bigger question, however, is how can the American people have confidence in this plan when they don’t have confidence in the man behind it?”

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