[Congressional Record (Bound Edition), Volume 154 (2008), Part 15]
[House]
[Page 20802]
[From the U.S. Government Publishing Office, www.gpo.gov]




      TAKE TIME TO DEVELOP RESPONSIBLE WALL STREET ASSISTANCE PLAN

  (Mr. MORAN of Virginia asked and was given permission to address the 
House for 1 minute and to revise and extend his remarks.)
  Mr. MORAN of Virginia. Mr. Speaker, greed is the accelerator that 
drives a capitalist economy. But unless you are willing to tap on the 
regulatory brakes once in awhile, you are going to crash. We learned 
that 75 years ago, and now we are learning it again. But now the 
average American household is being asked to cough up about $5,000 to 
bail out Wall Street. That is not fair. Nor will the plan that we are 
being given prove to be effective.
  What we need to do is to deal with the underlying mortgages, to 
restructure those mortgages, rather than force the taxpayer to be 
buying securities that they wouldn't buy in their own good judgment. 
The taxpayer cannot be held holding the bag.
  What we need to do is stay in session until we can get it right, 
until we can prove to our constituents that what we have done is 
responsible and fair. We cannot vote this week on a $700 billion 
package, when we really don't know what is responsible and fair.

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