No Bailout Without Adequate Protections For Working Families

WASHINGTON, D.C. – The following is a statement of principle from the Change to Win Leadership Council on the Treasury Department’s bailout plan.

“For most working families, the economy has been in a meltdown for quite some time: they have seen their jobs outsourced, their wages decline, their benefits disappear, their homes foreclosed and the American Dream becoming more remote.

“Now, the Bush Administration wants us to pick up the tab to bail out Wall Street, with no strings attached. Congress should not give the Administration a blank check. It needs to structure a bailout plan that will actually work to stabilize the financial sector without leaving taxpayers holding the bag. And it needs to provide relief to the real victims of this crisis – the working families whose homes are now at risk of foreclosure.

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