Boehner Embraces Need For Treasury Proposal

House Republican Leader John A. Boehner (Ohio) issued the following statement about a legislative proposal from the Treasury Department, embracing the need for this authority and warning lawmakers against "exploit(ing) this crisis for political leverage or partisan quid pro quo":

“Our economy is facing unprecedented financial challenges that could imperil the bank accounts, retirement savings, and jobs of countless Americans. The Administration has put forward a plan to help the American people, and it is now incumbent on Congress to work together solve this crisis.

“The free market system has not failed the American people. This crisis is a failure of government bureaucracy and an outdated regulatory system that hasn’t served the interests of our families, seniors, small businesses, and our financial markets. The American people are furious that we're in this situation, and so am I. We need to do everything possible to protect the taxpayers from the consequences of a broken Washington.

“I am reviewing the proposal, along with my colleagues on both sides of the aisle. Efforts to exploit this crisis for political leverage or partisan quid pro quo will only delay the economic stability that families, seniors, and small businesses deserve. Going forward, I hope we all can agree that we should keep any legislation as straightforward as possible while doing everything we can to protect American taxpayers.”