Oregon Senate candidate Jeff Merkley is calling on Republican Gordon Smith to reject giving the Bush Administration a 700 billion dollar blank check with no government accountability. Merkley demanded that Smith reject the package proposed by the administration because it offers no real market reforms, limits on executive compensation, or protections for homeowners. More below the fold....
Full disclosure, I am the netroots director for OR-Sen candidate Jeff Merkley
Here's what Jeff Merkley had to say about the Bush Administration's bailout proposal:
The Republicans in Washington are demanding a blank check to fix the mess they created and that is completely unacceptable. Real families are hurting in this economy and George Bush is only concerned about CEOs on Wall Street. Gordon Smith rubber-stamped the Bush policies that led to this mess. I urge him to reject any blank check that puts special interests on Wall Street ahead of families on Main Street.
Gordon Smith says, "don’t play the blame game" – what he really means is "don’t hold me accountable". Oregonians need new leadership in Washington and that starts with rejecting the failed policies and philosophies of Gordon Smith and the Republican party in November. In the meantime, Smith must stop giving blank checks to the Bush Administration – he did it with the Iraq war, and he shouldn’t do it now.
Will Republican Gordon Smith finally put American families before his buddies on Wall Street? If his record on the issue is any sort of indicator, it's doubtful he'll change his ways. Republicans have spent decades deregulating the markets and ignoring their oversight responsibilities. Republican Gordon Smith is no different. Back in 1999, Smith supported the Gramm-Leach-Bliley Act, which removed restrictions for banks, investment firms and insurance companies. The bill also allowed the proliferation of new and unregulated banking practices. And he's spent the past eight years turning a blind eye to the growing problems in the housing markets and on Wall Street.
Every Democrat in Congress needs to unite and demand that Congress reject the blank check. Haven't we learned by now that handing over a blank check to Bush, with absolutely no oversight or protections, is a BAD thing to do?
Bush and Republicans like Gordon Smith need to be held accountable for leading our country into the financial mess we find ourselves in. We can come together and hold them accountable on election day. To help send Republican Gordon Smith packing, you can donate to the Kossacks for Merkley Act Blue Page