Russell rips bailout plan, Lowey
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- September
- 24
Jim Russell, a Republican running against Rep. Nita Lowey, D-Harrison, said the current $700 billion bailout gives “too much power to the secretary of the treasury.â€Â
 “It surrenders a great deal of authority to Mr. Paulson,” Russell said in an interview this week. “I’m interested in the securing of investments of middle class people.”Â
Russell wants a plan that first guarantees retirement accounts for American workers and helps those who were victims of predatory lending.
The 54-year-old Hawthorne man also said that there should be no provisions for the so-called “golden parachute” for financial executives of these troubled firms.
 ”We can’t have our government authorize that type of abuse,” he said.  “There should be an investigation and people should be fired.”Â
He also said he felt “uneasy” of having Lowey vote on any bailout because he says she’s accepted campaign money from the securities and investment industry — she’s part of the culture that allowed this to happen, Russell said. He wants Lowey to recuse herself from any vote.
Read the full bailout story here.
This entry was posted
on Wednesday, September 24th, 2008 at 10:34 am by Gerald McKinstry.
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