Club Commends House for Defeating Bailout Bill
Club for Growth Commends House for Defeating Bailout Bill
Washington – Club for Growth Pat Toomey released the following statement on the House’s defeat of the bailout plan today:
“The Club for Growth commends the House of Representatives for voting today to take a different approach in addressing the current financial crisis,” said Club for Growth President Pat Toomey. “We urge Congress to immediately pass a measure that suspends mark-to-market rules for banks and lifts the cap on the FDIC’s guarantee on transaction accounts for banks. These two relatively non-controversial measures will help stabilize the markets and shore up confidence in our financial institutions. There is no reason why any member of Congress—Democrat or Republican—should oppose these commonsense provisions.”
