Follow Congressman Matheson
Financial Bailout Plan?
I listened to President Bush try to rally the public Wednesday night on the financial crisis that threatens our economy. The questions that I have been asking since the Treasury Secretary came to Congress with a proposed bailout plan persist. Where in the plan is the assurance that taxpayers' $700 billion will be protected? Will they eventually recoup the money and-best case scenario-make a profit?
Can anyone tell us who is keeping an eye on the program that will purchase this bad debt now on banks' books? I don't trust a proposal to give the Treasury Secretary complete authority over the money with no independent oversight.
Economists agree we should do something, but the experts are divided over whether or not this $700 billion bailout plan will actually work. That's why I continue to raise questions and look for more evidence before committing the taxpayers to such an enormous price tag.










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