On the recordJanuary 15, 2009
Thank you, Madam President. In about an hour or so we will be voting on this matter. I know there are several other Members who want to be heard on this discussion, although there has been a lot said about this matter since the problem first emerged, at least the request first emerged, back in mid- September, September 18 of last year, when the Secretary of the Treasury and the Chairman of the Federal Reserve came before the leadership of the Congress and announced that within a matter of days we would be facing a meltdown of the financial sector of this country as well as, maybe, globally. From that time forward, we have found ourselves in this situation. As I said a little while ago in brief remarks, I do not know of a single Member--at least I do not believe there is any--who takes any pleasure in being involved in this debate, involved in the vote we are about to cast, knowing the problems that have created this situation were avoidable, preventable, and had the administration paid more attention, when they were asked to more than 2 years ago, about the foreclosure crisis in this country--that is the root cause of the problems we are now dealing with--then we would not have to be here today. That is not hyperbole. That is not speculation. That is a fact. But the reality is there was denial after denial after denial: the economy was sound and solid, and things were going to be in great shape no matter what happened.
Source
govinfo.gov




