Political Quotes

“I want to thank Senator Webb for offering this amendment, which is the same text as our bill that we introduced about a month ago. I think Senator Webb has made an excellent case for this very important amendment which will reduce the deficit. It is an amendment that I believe reflects fairness and justice and the American way. In 2008 and 2009, the financial sector, as well as the automobile industry, received generous and unprecedented aid from taxpayers. It was done in order to stave off another Great Depression. It was a tough vote to make, and we did it because we believed we were on the brink of another Great Depression and, frankly, a financial collapse. If we remember back to those days, credit was frozen, businesses couldn't borrow, and we were hearing predictions that this could be the end of capitalism. We heard that from Republicans and Democrats alike. So what we did has worked. We have avoided a Great Depression. The economy is growing, although we are very worried about the slow pace of job creation, which is why we are working so hard to continue to create new jobs. But if we take a look at the financial institutions which received this huge bailout, what we see is they showed a resounding economic recovery in 2009. Thanks to taxpayer assistance, many of these companies are posting record profits.”