“American business owners on Main Street are feeling the effects of the current crisis on Wall Street, and I was not willing to put American businesses and farms at risk. I supported this legislation to avert a financial crisis that, in a worst case scenario, could turn our current recession into a deep depression. It’s the economic irresponsibility of the Bush Administration’s financial policies over the last seven and a half years that have largely put us in this problem.Congressman Costa hits the nail on the head when he points to the Bush administration's policies as contributing factors to this mess.
However, we now must go back to the drawing board to craft legislation that can receive bipartisan support to ensure that our financial system does not crumble before our eyes. I am disappointed we did not pass this legislation and I will work with my colleagues to see our nation through this challenge.”
Some republicans, it appears, don't appreciate such straight talk and voted against the bailout proposal because Nancy Pelosi said pretty much the same thing when she announced the proposal yesterday.
We have perhaps the greatest financial crisis in our nation's history staring us in the face, and republicans are whining because of a little straight talk? We can't fix a problem if we never acknowledge what it is. Republicans would rather kick things around until they can cloud the analysis with double-talk ...
Kudos to Costa for pointing out the obvious.
- Mark
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