Friday, October 3, 2008
MEDIA CONTACT: STEVEN ENGELHARDT (314) 504-4029
Statement by Congressman Wm. Lacy Clay Regarding the Emergency Financial Bailout Package
WASHINGTON D.C. "I voted NO today for the same reason that I voted against this bill on Monday...the legislation does not address the root cause of this crisis...home foreclosures.
And to add insult to injury, they took a bad bill and made it worse by loading it up with $120 billion in earmarks.
Now they're asking taxpayers to give Wall Street and reckless speculators an $820 billion bailout.
It's outrageous, it's fiscally irresponsible, and my conscience will not allow me to put that kind of burden on the taxpayers.
Last month, over 300,000 American families lost their homes.
They didn't get a bailout.
This bill is not a cure for the real problem, keeping hard working people in
their homes."