Friday, January 15, 2010

Kanjorski Supports Obama Statement

In case you were wondering:

Statement from Congressman Paul Kanjorski on President Obama’s proposed Financial Crisis Responsibility Fee:

“Over the last two years, our economy has faced its most dire circumstances since the Great Depression. We took extraordinary, but necessary action to pull the economy back from the brink. Now, it is time for Wall Street, whose reckless actions led to the credit crunch that has affected all Americans, to take responsibility for their actions and ensure that all of the money that was used to ensure their survival is returned to the taxpayers and not added to the debt of the United States. This fee of just 0.15 percent of liabilities would impact only the largest financial firms that either borrowed federal funding or benefited from that funding, which helped to stabilize the economy. Many Americans still face serious financial hardships as a result of the economic downturn, while Wall Street is back up and running. Furthermore, we can ensure that a small portion of profits derived from the taxpayers’ intervention are returned to the taxpayers and not distributed to employees in massive bonuses.”

Should words be insufficient, video is available.

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