Press Release of U.S. Senator Barbara Boxer

For Immediate Release:
September 19, 2008  
Washington D.C. Office (202) 224-3553

Statement of U.S. Senator Barbara Boxer on the federal rescue package  

In a call organized by Majority Leader Harry Reid, Senators were just briefed by Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke.

To put it bluntly, their words were very charged and raised deep concerns that if actions are not taken to give them new authority to keep credit flowing, then dire consequences will be felt, not only by businesses, but by all of us.

The fundamentals of our economy have been shaken and the American people are anxious.  I believe that unfettered deregulation and a late response to the housing crisis have created this situation. 

It is clear that we have to set aside party differences and move forward with a plan that restores confidence in our economic system.

I will work with my colleagues to find a solution that provides stability to our markets and protects American taxpayers. 

In addition, I fully agree with Senator Obama:  as we assist financial institutions, we must also provide security to our working families here at home.  That means passing a second economic stimulus plan that will create jobs, invest in our infrastructure, and help keep people in their homes.