LARSON RESPONDS TO HOUSE VOTE ON THE EMERGENCY ECONOMIC STABLIZATION ACT

FORIMMEDIATE RELEASE

September29, 2008

LARSON RESPONDS TOHOUSE VOTE ON THE EMERGENCY ECONOMIC STABLIZATION ACT

WashingtonD.C.-Today the House of Representatives voted on the “Emergency EconomicStabilization Act of 2008.” The bi-partisan bill attempted to stabilize theeconomy, preserve homeownership, and protect taxpayers and businesses on Main Street fromWall Street’s greed. The bill also eliminated windfalls for executives and CEOsand increased oversight and accountability. U.S. Congressman John B. Larson(CT-01), Vice Chair of the Democratic Caucus, released the following statement:

“Iremain as skeptical and as frustrated as the citizens I serve. The Bush Administration laid this crisis atour doorstep - a financial mismanagement version of Hurricane Katrina, exceptthis was no natural disaster, it was entirely manmade. The uncertainty and danger of not acting, inmy mind, would place citizens in greater peril, by not protecting theirpensions, their jobs and their security.

“Invoting for this measure, I also called for increased oversight and review tofurther root out fraud, abuse and mismanagement that has obviously taken place.I commit to redouble our efforts on behalf of the American people to curb whathas, for the past 8 years, been the most free-wheeling, unregulated economysince the Great Depression. Up to now,the foxes have been guarding the henhouse. This will change and the Americanpeople demand that change.

"Ourwork here is not done. Regardless of ourimmediate next steps, the next Congress will need to focus on a multi-facetedapproach to getting our broken economy back on track. A key component will be acomplete overhaul of our financial regulatory system so the practices thatcaused this crisis will not reoccur.”