Solution Must Embrace Sound Principles That Protect Taxpayers and Ensure Accountability
Final Package Should Also Return Stability to Our Financial Markets
September 26, 2008
Minnesotans on main streets from Apple Valley to Zumbrota are concerned by a financial crisis that threatens the very foundations of our economy – and the bank accounts, retirement savings, and jobs of millions of Americans.
As my colleagues and I consider legislative solutions to the financial crisis facing Americans, we are conscious of the importance of not taking any action that would exacerbate an already troubled economy. Any effective solution must embrace sound principles that protect taxpayers and ensure accountability while returning stability to our financial markets. I am hopeful we can put partisanship aside and craft a solution in the best interest of all Americans.
- The jobs, homes, savings, and tax dollars of Americans must be protected.
- The use of private funds must be maximized and any use of tax dollars should be minimized.
- Corporate accountability standards must be raised to ensure no failed Wall Street Executive is rewarded with a golden parachute.
- Transparency must be increased to ensure people and businesses are held accountable.
- Government oversight, with the participation of the legislative branch, must be strengthened to prevent future Wall Street breakdowns caused by greed and excessive risk.
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