September 15, 2008

Larson faults GOP for Wall Street turmoil

Just issued by U.S. Rep. John Larson, the East Hartford Democrat who represents Bristol:

Washington, DC – Congressman John B. Larson (CT-01), Vice Chair of the Democratic Caucus, issued the following statement in response to today’s troubling economic news.
“The turmoil on Wall Street today is the direct result of eight years of lax Republican oversight and irresponsibility. Since George Bush took office, Republicans have turned a blind eye to improprieties on Wall Street and in big business. We saw the beginnings of that policy failure in the downfalls of Enron and WorldCom. Now, Republicans have handicapped our oversight functions and left our economy in shambles. The rescues of Fannie Mae, Freddie Mac and Bear Stearns underscore a policy where executives get bailed out and the people get the bill.
“From energy speculators who were allowed to run rampant in our oil and gas markets, to Interior Department officials maintaining “cozy” relationships with big oil, and now major banks failing under the weight of their own over extended investments, this Administration has led our country down a dangerous path.
“The woes experienced on Wall Street today will trickle down throughout our economy. They will trickle down to the middle class as they see their retirement funds shrinking and they will trickle down to the poorest Americans as they see their job opportunities dry up.
“While our stock markets were melting down, John McCain was insisting that our economy is sound. Talk about out of touch.
“America cannot afford another four years of Republican rule. We need oversight of our markets, we need to let our inspector generals do their jobs and we need to restore integrity to our economy. The CEOs and executives behind the current turmoil must be held accountable for their actions. The American people can’t foot the bill for anymore golden parachutes.
“This New Direction Congress has worked on behalf on the American people by passing an economic stimulus package and overhauling our country’s home financing system. We will take up another recovery package aimed at easing the burden on families and the middle class.
“We will continue to fight for corporate responsibility. We will continue to demand change.”


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Copyright 2008. All rights reserved.
Contact Steve Collins at scollins@bristolpress.com

11 comments:

Anonymous said...

Larson is a Donkey! What where his ideas? Was he not in office for the last 8 years also! Doesn't the Democrats control the house and senate? What are they going to do to get us out of this mess? What have they done since this mess started? Oh ya they nominated some guy that barley has experience to run a gas station to run for president.

Anonymous said...

What about Senator Dodd who heads up that committee???

Of course, he got his, didn't he??

Anonymous said...

“This New Direction Congress has worked on behalf on the American people..."

This NO direction congress led by Nancy "Sierra Club" Pelosi with a DEMOCRAT majority has been the most weak-kneed, useless body ever. It has been useless on energy, useless on health care, useless on the war, useless on the economy just plain useless.

Then you have the brass ones to say that McCain is out of touch.

Do you John Larson actually believe the pabulum that drips from your Kennedyesque mouth? You are a sheer disgrace to yourself, to congress and to Connecticut.

Anonymous said...

Where is Visconti/Mocabee on all this?

Steve Collins said...

Visconti told me he is preparing an answer to Larson's comments this evening. I'll post it whenever I receive it.

Anonymous said...

Is Visconti going to sing the response?

Anonymous said...

9:24 - steve, i can't wait to hear "discounts" revalation - if he is lucky, he can start a list of positive ideas - nothing has appeared yet.

Anonymous said...

Surprise...a Democrat, in the majority no less, blaming Republicans for something that goes wrong. What day don't you see that happening?

Anonymous said...

Other people saw this coming, why didn't Larson?

Anonymous said...

Where has Larson been all this time?

Anonymous said...

Larson, go talk to your buddy Dodd!