U.S. Senate candidate Dean Barkley to Congress — don't rush a bail-out vote
Independence Party U.S. Senate candidate Dean Barkley urged Congress today (Sept. 25) to take a deep breath before rushing a vote on a bail-out package for the financial services industry.
“The last time we rushed into an election-year ‘solution’ we got the Iraq War and I don’t think the American people want to see us go down that path again,” Barkley said in a press release.
Signs exist, Barkley opined, that while some financial services industry giants are in trouble, business is continuing in other areas without government interaction.
Indeed, a series of big acquisitions — Bank of America purchased Merrill Lynch, Barclay purchased the Lehman Brothers’ trading desk — are taking place, he noted.
“Everyone is worried about the economy, including me,” Barkley said.
“But the worst thing Congress can do right now is rush through a massive bail-out bill before adjourning in just a few days. Let’s take a while to breathe, talk to voters over the next month and get a better handle on how the economic indicators are shaking out before we hand over hundreds of billions of taxpayer dollars to Wall Street titans,” he said.
If current economic conditions worsen, Congress can back from recess and address the problem assisted by the insights gained from constituents, Barkley said.
