Political Quotes

“for the past 2 weeks, I have been patiently waiting for what everyone in this chamber knew was inevitable. When the Senate passed the Emergency Economic Stabilization Act on October 1, 2008, we included a stipulation allowing the disbursement of the final $350 billion only upon the President's request to Congress, and after Congress had been given an opportunity to pass a resolution of disapproval preventing release of the funds. We did this to provide a chance to thoroughly assess the program, make changes, and get our country's economy on the right track again. Although I voted against the act that created the Troubled Asset Relief Program, the TARP, I was pleased that this provision was added into the final bill. Many of my colleagues and I thought, optimistically, that the TARP would work better than we had predicted. It was even possible, some noted, that we would not have to spend the entire $350 billion final disbursement. Even if it was necessary to approve the additional funds, we would be provided the opportunity to evaluate the program and make it more effective in a rapidly changing market. So in preparation for the President's request, I have been keeping track of the market conditions, following the headlines, and watching the stock market. Yesterday, the Dow Jones industrial average closed down almost 250 points. This is the lowest the market has closed in 2009, and the biggest drop since December 1, 2008.”