Senate Republican Conference President Lamar Alexander (Tenn.) has issued a statement praising the "breakthrough" plan reached late Saturday night between House and Senate negotiators to rescue Wall Street.
"Congress has significantly amended the Paulson plan to protect the taxpayer and get our economy moving again. If the House passes the legislation Monday, then the Senate should also act Monday so that Americans will be able to cash their paychecks, get mortgage and car loans, obtain student loans, and keep their jobs. The bill gives the Treasury secretary the authority he needs with strict oversight. And it minimizes the risk of loss to taxpayers and ensures that annual profits from the transactions go to reduce the federal debt."
Tags Quotation Person Career Alexander Says Late-2000s financial crisis Economics 110th United States Congress Emergency Economic Stabilization Act Troubled Asset Relief Program United States federal banking legislation Economic history Contemporary history Banking in the United States Politics Business