For Immediate Release: September 24, 2008

Sutton Statement on Financial Crisis

The recent financial crisis facing our country is the result of an arrogant and reckless Bush Administration which failed to provide reasonable oversight of our financial markets. The utter absence of competent market regulation and the excesses of corporate executives have hurt families across this country. The days of unscrupulous dealings and market manipulation must be brought to an end. Any acceptable plan to deal with this mess must include transparency requirements and corporate governance reforms, including the elimination of outrageous, excessive CEO compensation.

In the days ahead, as Congress works to clean up this mess on Wall Street, I will fight for a plan that will protect taxpayers, stimulate job growth, support distressed homeowners and our communities. Any acceptable plan must make it clear that the days of the "anything goes-no responsibility" behavior on Wall Street and the refusal to appropriately regulate are over.

Contact: Erin Donar at 202-225-3401 or Erin.Donar@mail.house.gov