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Restoring Fiscal Responsibility
Alice calls for real checks on the financial markets to protect ordinary Americans
September 22, 2008
FOR IMMEDIATE RELEASE
Contact: Anne Wadsworth
(716) 580-3013
Amherst, NY — The financial markets have undergone a severe shock in the last few days. Risky speculation in a deregulated market led to a crash, bringing calls from Washington to have government bail out financial institutions. But where have these same voices been while millions of hardworking Americans have suffered through their own financial crises, facing stagnating wages and fewer jobs with rising housing and energy costs?
As she has from the beginning of her campaign, Alice Kryzan, Democratic Congressional Candidate for NY-26, decried this 'same old same old politic', calling for political leaders to start putting the people’s interests first:
"We don't need oil lobbyists writing our energy policy, insurance companies making our medical decisions, or financial institutions taking huge risks and then asking Americans to foot the bill. We can’t have two more years of these failed Bush policies, two more years of fewer jobs, stagnated wages and work sent overseas. We need someone ready to help us realize our future, not cling to the knee-jerk deregulation rhetoric of the past."
Alice called on Congress to act quickly to stabilize the market in order to ensure hardworking Americans don't lose their homes or other assets. But she also insisted that any legislation include accountability measures to improve financial regulation and ensure this disaster is not repeated. Furthermore, taxpayers should receive their fair share of any profits these companies make after being bailed out, CEO compensation should be limited, and Congress should give homeowners the assistance they need to protect their homes. And, of course, any efforts to stabilize the market should have independent oversight to ensure the job is done right.
Alice expressed disappointment that so many politicians refuse to grapple with the serious issues facing our country:
"People are tired of candidates who only offer platitudes and quick fixes. Whether it’s offshore drilling that increases oil companies’ profits without lowering gas prices or writing a blank check to the financial market to protect CEO’s record salaries, the public has had enough. We need people with real solutions who we can trust to go to Washington and get results."
While Alice calls for commonsense measures to address our financial problems, Bush Republican Chris Lee says we need more of the same deregulation that increases corporate profits at the expense of hardworking Americans. In fact, Lee has made deregulation the centerpiece of his campaign, one of the only issues on which he has taken a clear stand.
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