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Statement From Congressman Jim Himes On Final Passage Of TARP

Statement

By: Jim Himes
By: Jim Himes
Date: Jan. 22, 2009
Location: Washington, DC
Issues: Finance and Banking Government Budget and Spending Housing and Property

Rep. Jim Himes (CT-4), made the following statement regarding final passage of the Troubled Assets Relief Program:

Make no mistake. The Troubled Assets Relief Program should never have been necessary. Never again should the American taxpayer be the lender of last resort to private companies. But American families continue to lose their jobs and homes at an intolerable rate. Our new President recognizes that government must have the resources and flexibility to end the financial instability that is wrecking our economy. I am gratified that the second installment of the TARP includes critical oversight and reporting requirements for assisted institutions, that it limits what they may do with our money, and that Congress has required the creation of a national foreclosure prevention program to finally provide direct relief to American families facing foreclosure. I believe that such efforts, in combination with a larger, economic recovery program, will begin to turn our economy around.


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