Murray Statement on Administration Bailout Plan

“I have spent the past week in bi-partisan meetings about the state of our economy.  There is no doubt that we face a very serious situation.

“However, I am deeply troubled by the Administration’s rescue proposal and its demands for immediate action by Congress.  The Administration’s own failure to regulate Wall Street greed is what has brought us to this point.  We can’t just rubber stamp their plan now.  That’s not fair to taxpayers and it’s certainly not the serious solution that this crisis demands.

“Our first priority must be to keep the tidal wave of this crisis from flooding the lives of innocent Americans.   

“Any plan must include real oversight by Congress – we can’t just sign a blank check over to a Treasury Secretary without conditions and we won’t stand for golden parachutes for the bad actors whose misdeeds led us here today. 

“The American people are angry about this situation.  And so am I.  We need to quickly contain the serious financial situation we face today and help struggling American families, but we need to do it in a responsible way.  And it is time to begin work on reforms to ensure Americans are never again left holding the bag for Wall Street’s mistakes.”