January 15, 2009

Wyden Statement on the Resolution of Disapproval

Washington, D.C. - U.S. Senator Ron Wyden (D-Ore.) issued the following statement after his vote in favor of the Joint Resolution Relating to the Disapproval of Obligations Under the Emergency Economic Stabilization Act of 2008

"Last October, I voted against the $700 billion Wall Street bailout because Congress failed to write any meaningful taxpayer protections, didn't have a plausible plan that was likely to re-open our capital markets, and abdicated its responsibility to reform the Wall Street greed that created the crisis in the first place. While I certainly trust President-Elect Obama with these funds more than the Bush administration, what was horrendous policy before the election is horrendous policy after the election. Whether we have a Democrat or Republican in the White House, Congress has a sacred obligation to demand accountability, to write laws with some teeth in them, and to cease being a patsy to the Executive Branch. Compensating -- with hundreds of billions of taxpayer dollars -- the very investment bankers who took these outrageous credit risks is no way to restore confidence in our markets or the federal government."