Contact: Sean Sarah
Communications Director
Sam Rasoul for Congress
Cell: 330 338-3740
E-Mail: sean@samrasoul.us
PRESS RELEASE -- 09/15/08
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Rasoul Applauds U.S. Government For Not Bailing Out Lehman Brothers; Fed For Helping Shore Up Liquidity
Sam Rasoul applauded the U.S. Government this morning for not bailing out Lehman Brothers Holdings Inc. Lehman, another casualty of the 14 month long credit crisis, has filed for bankruptcy and is teetering on the brink of collapse. Rasoul stated; "I am pleased to see that the U.S. government is not using tax payer dollars to bail out another private institution. The Federal Government shouldn't act as the insurance agent for irresponsible lenders and brokerages."
With the credit crisis in full boom, Rasoul is also pleased with the Fed's move to ease liquidity markets. These moves by the Fed were important to shore up the short term credit market and avoid a crisis that would affect millions more Americans.
Republican Secretary of the Treasury Henry Paulson has concluded that this credit crisis was caused by a startling lack of oversight of the industry. Rasoul affirmed this notion stating; "I agree with Secretary Paulson that we must take further measures to ensure that abuse of our financial markets does not continue."
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Paid for and Authorized by Sam Rasoul for Congress
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