[Congressional Record (Bound Edition), Volume 154 (2008), Part 15]
[House]
[Page 20192]
[From the U.S. Government Publishing Office, www.gpo.gov]




DEMOCRATS WANT TO WORK IN A BIPARTISAN WAY TO INSULATE MAIN STREET FROM 
                              WALL STREET

  (Ms. EDDIE BERNICE JOHNSON of Texas asked and was given permission to 
address the House for 1 minute.)
  Ms. EDDIE BERNICE JOHNSON of Texas. Mr. Speaker, the financial crisis 
on Wall Street did not happen overnight. For 8 years, this Bush 
administration refused to regulate the very financial institutions that 
they are now asking American taxpayers to bail out.
  Congressional Democrats want to work in a bipartisan fashion to clean 
up this mess and to insulate Main Street from Wall Street. We will not 
be pressured into approving a $700 billion blank check for Wall Street 
that does not include any safeguards or any independent oversight.
  We simply cannot hand over $700 billion of the American taxpayers' 
money to the Department of Treasury and hope for the best. Any bailout 
package needs to ensure that the actions of the administration are 
being watched by an independent observer who can report back to both 
Congress and the American taxpayer.
  We also need to include some protections for homeowners who are in 
danger of losing their homes and some reasonable limits to the 
executive compensation for CEOs and top executives.
  House Democrats will work in a bipartisan fashion to improve the 
economic recovery package.

                          ____________________