September 30, 2008 - 12:13
News: Colorado

Musgrave votes against bailout; pushes for more reforms

U.S. Rep. Marilyn Musgrave (R-Fort Morgan) voted against the $700 billion bailout of the nation's financial industries Monday and pushed for a new bill that includes more financial reform and taxpayer safeguards.In a statement released by her campaign, Musgrave said she wanted to see "a workout, not a bailout" of a bill that includes restructuring troubled mortgage giants Freddie Mac and Fannie Mae, changes accounting rules to more accurately reflect companies' earnings, and guarantees that taxpayer bailout money would be repaid.Musgrave manager Jason Thielman said a Sept. 23 statement released by her congressional office still holds true.Musgrave's full statement: “For years, Americans on Main Street have heard about the lavish excesses of Wall Street.  We heard about their mansions, exotic cars and above all, record profits.  Now the party is over and the same bankers are asking working families across the country to bear the consequences of their excess and greed.  I refuse to burden families already struggling with soaring energy and food prices with bailing out investment banks that made bad decisions.”

Jeremy Pelzer is a PolitickerCO.com Reporter and can be reached via email at noreply@politicker.com.

Related topics: Marilyn Musgrave, bailout

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