OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Emergency Economic Stabilization Act of 2008

Date: Oct. 3, 2008
Location: Washington, DC
Issues: Finance and Banking


EMERGENCY ECONOMIC STABILIZATION ACT OF 2008 -- (House of Representatives - October 03, 2008)

BREAK IN TRANSCRIPT

Ms. MOORE of Wisconsin. Madam Speaker, I am angry. I am angry that the Nation has been put in this position by clever financial wizards on Wall Street who operated without the necessary regulations and oversight for the past 8 years.

I share the sentiments of Meyer Mishkin who during the crash of 1929 owned a shop in New York and sold silk shirts to working men. He said then that it ``served those rich scoundrels right.'' Of course, his business went under a year later.

Fast forward to 2008. Meyer Mishkin's grandson, an economist and former Fed Reserve Board member, tells us: ``To do nothing right now is to do what was done during the Great Depression.''

Madam Speaker, this is not about Rolex watches and Wall Street, it is about watching out for the workers, families, small businesses and retirees in my district who will be up against the wall as a result of this credit crisis as it spreads to Main Street.

Madam Speaker, I will not stand by and do nothing while this crash spreads to my constituents.

BREAK IN TRANSCRIPT


Source
arrow_upward