Shuler explains second vote against ‘bailout’ plan

Published 12:35 pm Wednesday, October 8, 2008

Representative Heath Shuler released the following statement recently on his vote against the Senate version of the Wall Street bailout plan which passed the House of Representatives by a vote of 263 to 171.

&dquo;Today I once again voted against a plan to bail out Wall Street because it still does not address the root problems or make the fundamental reforms to the system needed to prevent this situation from arising again. There is still a crisis of confidence and lack of trust between banks causing this credit crunch. That said, now that my colleagues have passed this legislation and it has been signed into law I sincerely hope that it works and will do everything in my power to ensure that it does.&dquo;

&dquo;I will continue pressing for greater oversight, accountability and transparency, and I will demand vigorous enforcement of existing laws through the Securities and Exchange Commission so we don&squo;t find ourselves in this situation again.&dquo;

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