Press Releases

"The Congress voted to provide capital to financial institutions so they could expand lending to businesses and consumers in American, not to prop up their own reserves. I told Secretary Paulson last week that banks must use the public dollars they receive to free up the flow of credit and instill confidence in our financial markets. Mr. Paulson's statement today reinforces Congress' intentions in making these funds available."

"Chairman Bernanke made it clear that a new economic recovery package is critical to boost our weakening economy. In testimony today before the House Budget Committee, Chairman Bernanke added his voice to the chorus of economists, experts and policymakers who insist that America needs a job-creating recovery package to get our economy back on track and to restore consumer and investor confidence."

"Congress must address these challenges in a bipartisan manner and without delay."

"I am writing to express concerns with Treasury's implementation, under the Emergency Economic Stabilization Act (EESA), of the Administration's Capital Purchase Program to purchase $250 billion in equity shares of nine major financial institutions."

"While all families are facing skyrocketing prices at the grocery store, the gas pump, and on their heating and cooling bills, seniors on fixed incomes have an even more difficult time making ends meet. By providing a nearly 6 percent increase in their Social Security checks, seniors will receive needed relief from high prices."

"Congress must try again. That is why I have asked the chairs of relevant committees to schedule hearings in the coming weeks on the key provisions of a fiscally responsible recovery package to get our economy moving again."

"The coordinated actions announced today by the Treasury Department, the Federal Deposit Insurance Corporation, and the Federal Reserve are steps in the right direction that could help to restore confidence in our financial markets and the routine flow of credit to our financial system that is essential for small businesses and consumers."

"Each and every one of these people who are here today will take us to a new place in our thinking on how we can protect the taxpayers, create jobs, stabilize our economy and the markets, and do so in a way that is fair to the American people."