Villaraigosa Speaks Out on House Bailout Vote
The House rejected the bailout plan earlier today sending stocks down and worrying people across the nation. Mayor Antonio Villaraigosa, who is not happy with the idea of bailing out the "failed lenders and investors," is not satisfied with congress doing nothing. He tells Congress to get back to work in a statement released this afternoon. While it's obvious Congress still has a lot of work to do, Villaraigosa's statement emphasizes how all of this affects local services.
By now, you no doubt know that the House of Representatives failed to pass financial rescue legislation today as planned, and the markets have been hit hard as a result. As mayor of one of the cities hardest hit by our nation’s foreclosure crisis, I implore our Congress to put politics aside and get back to work for the American people. This is not the time for partisan bickering. Too much is at stake. Too many families and employers are at risk. Now, let me be clear: no one, and I mean no one, should be happy about
the federal government having to devote hundreds of billions of dollars
to bail out failed lenders and investors. This economic crisis was
inflicted upon the American people by corrupt power brokers and a
reckless lack of federal oversight.