Emergency Economic Stabilization Act of 2008

EMERGENCY ECONOMIC STABILIZATION ACT OF 2008 -- (House of Representatives - September 29, 2008)

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Mr. MEEKS of New York. Thank you, Mr. Chairman. I thank you for your hard work.

Madam Speaker, I think what we are subjected to here today is similar to what the drunk driver syndrome is. We have a situation where none of us likes it, where none of us cares what's taking place here--the drunk driver, the one who is intoxicated. Well, the drunk drivers here are these markets that now have had a crash on a thoroughfare, the same thoroughfare that many individuals drive on, and that thoroughfare is blocked. Unfortunately, with the drunk driver, we have to come in and rescue that drunk driver and open up that thoroughfare so that traffic can flow through it. Well, that is what we have right here.

We have individuals who were drunk. The regulators are the bartenders who continued to pour the drinks and who didn't stop them from drinking. Now they're drunk. They've gotten on the main thoroughfare and have had an accident. The accident has closed the highway. Unfortunately, this highway is also the highway where we have our IRAs. It's the highway where we have our 401(k)s. It's the highway where we have our pension funds. It's the highway where we have our car loans and our mortgages. We have to clear the highway so that Main Street can go through it and can continue to survive.

I support this.

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