Schumer: "This Is A Good Foundation Of A Plan"

Sen. Charles Schumer (D-N.Y.) said that the $700 billion Treasury bailout plan proposed today was a good start but that more needs to be done to protect taxpayers.

“This is a good foundation of a plan that can stabilize markets quickly,"  Schumer said in a statement released by his office. "But it includes no visible protection for taxpayers or for homeowners. We look forward to talking to Treasury to see what, if anything, they have in mind in these two areas.”