Clyburn on Financial Crisis
Friday, September 19, 2008
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WASHINGTON, DC—House Majority Whip James E. Clyburn today commented on the ongoing meetings between Congressional leaders and Treasury Secretary Paulson, Federal Reserve Chairman Ben Bernanke, and Securities and Exchange Commission Chairman Chris Cox to address the instability in the financial markets.
“Congressional leaders had a productive meeting last night with Secretary Paulson, Chairman Bernanke and Chairman Cox. We hope to receive their proposal to stabilize the financial markets soon, so we can review and respond quickly to steady the markets and strengthen the economy. I believe that any plan moving forward should include a component to protect Main Street from the crisis on Wall Street and provide financial stability to American families struggling in today’s uncertain economy. Next steps should also include an examination of the failed management and failed regulation of the financial markets and how it led us to this remarkable and historic crisis.”
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